Common use of SUBSTITUTION OF MATERIAL Clause in Contracts

SUBSTITUTION OF MATERIAL. If any materials, machinery or equipment required for the construction of the VESSEL by the SPECIFICATIONS or otherwise under this CONTRACT cannot be procured in time to meet the BUILDER’s construction schedule for the VESSEL, or are in short supply, or are unreasonably high in price compared with the prevailing international market price for similar products, the BUILDER may supply, subject to the BUYER’s prior approval, other materials, machinery or equipment of equal quality and effect capable of meeting the requirements of the CLASSIFICATION SOCIETY and the rules, regulations and requirements with which the construction of the VESSEL must comply.

SUBSTITUTION OF MATERIAL. If any materials, machinery or equipment required for the construction of the VESSEL by the SPECIFICATIONS and the PLAN or otherwise under this CONTRACT cancan not be procured in time to meet the BUILDER’s ' s construction schedule for the VESSEL, or are in short supply, or are unreasonably high in price compared with the prevailing international market price for similar productson the date of signing this CONTRACT, the BUILDER may supply, subject to the BUYER’s 's prior approval, other materials, machinery or equipment of equal quality and effect capable of meeting the requirements of the CLASSIFICATION SOCIETY and the rules, regulations and requirements with which the construction of the VESSEL must comply.

SUBSTITUTION OF MATERIAL. If any materials, machinery or equipment required for the construction of the VESSEL by the SPECIFICATIONS and the PLAN or otherwise under this CONTRACT cancan not be procured in time to meet the BUILDER’s ’ s construction schedule for the VESSEL, or are in short supply, or are unreasonably high in price compared with the prevailing international market price for similar productsprice, the BUILDER may supply, subject to the BUYER’s prior approval, other materials, machinery or equipment of at least equal quality and effect capable of meeting the requirements of the CLASSIFICATION SOCIETY and the rules, regulations and requirements with which the construction of the VESSEL must comply. The BUILDER shall not be entitled to claim any extra cost if it elects to use or install substitute materials.

SUBSTITUTION OF MATERIAL. If any materials, machinery or equipment required by the SPECIFICATIONS and the PLAN or otherwise under this CONTRACT for the construction of the VESSEL by the SPECIFICATIONS or otherwise under this CONTRACT cannot be procured in time to meet the BUILDER’s construction schedule for the VESSEL, or are in short supply, supply or are unreasonably high in price compared with the prevailing international market price for similar productsprice, the BUILDER may supply, subject to the BUYER’s prior written approval, other materials, machinery or equipment of equal quality materials which are equally good and effect capable of meeting the requirements of the CLASSIFICATION SOCIETY and of the rules, regulations regulations, requirements and requirements recommendations with which the construction of the VESSEL must comply. Any agreement as to such substitution of materials shall be effected in the manner provided in paragraph I of this Article.

SUBSTITUTION OF MATERIAL. If lf any materials, machinery or equipment required for the construction of the VESSEL by the SPECIFICATIONS or otherwise under this CONTRACT cannot be procured in time to meet the BUILDER’s construction schedule for the VESSEL, or are in short supply, or are unreasonably high in price compared with the prevailing international market price for similar products, the BUILDER may supply, subject to the BUYER’s prior approval, other materials, machinery or equipment of equal quality and effect capable of meeting the requirements of the CLASSIFICATION SOCIETY and the rules, regulations and requirements with which the construction of the VESSEL must comply.

SUBSTITUTION OF MATERIAL. If any materials, machinery or equipment required for the construction of the VESSEL by the SPECIFICATIONS and the PLAN or otherwise under this CONTRACT cancan not be procured in time to meet the BUILDER’s construction schedule for the VESSEL, or are in short supply, or are unreasonably high in price compared with the prevailing international market price for similar productsprice, the BUILDER may supply, subject to the BUYER’s prior approval, other materials, machinery or equipment of equal quality and effect capable of meeting the requirements of the CLASSIFICATION SOCIETY and the rules, regulations and requirements with which the construction of the VESSEL must comply.