Common use of Sale of Vessel Clause in Contracts

Sale of Vessel. In the event of rescission of this Contract as provided above, the Seller shall have full right and power either to complete or not to complete the Vessel as it deems fit, and to sell the Vessel at a public or private sale on such terms and conditions as the Seller thinks fit without being answerable for any loss or damage. When the sale of the Vessel is made, the proceeds shall be received by the Seller and shall be applied by the Seller as follows:

Appears in 2 contracts

Samples: International Shipholding Corp, International Shipholding Corp

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Sale of Vessel. (a) In the event of rescission of this Contract as provided aboveabove provided, the Seller BUILDER shall have full right and power either to complete or not to complete the Vessel VESSEL as it deems fit, and to sell the Vessel VESSEL at a public or private sale on such terms and conditions as the Seller BUILDER thinks fit without being answerable for any loss or damage. When the sale of the Vessel is made, the proceeds shall be received by the Seller and shall be applied by the Seller as follows:.

Appears in 1 contract

Samples: Construction and Sale (Scorpio Bulkers Inc.)

Sale of Vessel. (a) In the event of rescission of this Contract as provided aboveabove provided, the Seller SELLER shall have full right and power either to complete or not to complete the Vessel VESSEL as it deems fit, and to sell the Vessel VESSEL at a public or private sale on such terms and conditions as the Seller SELLER thinks fit without being answerable for any loss or damage. When the sale of the Vessel is made, the proceeds shall be received by the Seller and shall be applied by the Seller as follows:.

Appears in 1 contract

Samples: Construction and Sale (Scorpio Bulkers Inc.)

Sale of Vessel. a) In the event of rescission of this Contract as provided aboveabove provided, the Seller Builder shall have full right and power either to complete or not to complete the Vessel as it deems fit, and to sell the Vessel at a public or private sale on such terms and conditions as the Seller Builder thinks fit without being answerable for any loss or damage. When the sale of the Vessel is made, the proceeds shall be received by the Seller and shall be applied by the Seller as follows:.

Appears in 1 contract

Samples: Shipbuilding Contract (Gulfmark Offshore Inc)

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Sale of Vessel. (a) In the event of rescission of this Contract as provided aboveabove provided, the Seller Builder shall have full right and power either to complete or not to complete the Vessel as it deems fit, and to sell the Vessel at a public or private sale on such reasonable terms and conditions as the Seller thinks fit without being answerable for any loss or damage. When the sale of the Vessel is made, the proceeds shall be received by the Seller and shall be applied by the Seller as follows:Builder can achieve.

Appears in 1 contract

Samples: Shipbuilding Contract (Teekay LNG Finance Corp.)

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