Common use of Substitution of Materials Clause in Contracts

Substitution of Materials. In the event that any of the materials required by the SPECIFICATIONS or otherwise under this Contract for the construction of the VESSEL can not be procured in time to effect delivery of the VESSEL, or are in short supply, the BUILDER may, provided the BUYER so agrees in writing, supply other materials and equipment of the best available and like quality, capable of meeting the requirements of the Classification Society and of the rules, regulations, requirements and recommendations with which the construction of the VESSEL must comply. Any agreement as to such substitution of materials shall be effected in the manner as provided in Paragraph 1 of this Article, and shall, likewise, include possible decrease or increase in the Contract Price and other terms and conditions of this Contract affected by such substitution. (End of Article)

Substitution of Materials. In the event that any of the materials required by the SPECIFICATIONS Specifications or otherwise under this Contract for the construction of the VESSEL can cannot be procured in time to effect delivery of the VESSEL, or are in short supplysupply to maintain the Delivery Date of the VESSEL, the BUILDER may, provided that the BUYER shall so agrees agree in writing, which shall not be unreasonably withheld, supply other materials with equivalent quality and equipment of the best available and like quality, capable of meeting the requirements of the Classification Society and of the rules, regulations, regulations and requirements and recommendations with which the construction of the VESSEL must comply. Any agreement as to such substitution of materials shall be effected in the manner as provided in Paragraph 1 of this Article, and shall, shall likewise, include possible decrease or increase alterations in the Contract Price and other terms and conditions of this Contract affected occasioned by or resulting from such substitution. (End of Article), unless otherwise mutually agreed.

Substitution of Materials. In the event that any of the materials required by the SPECIFICATIONS Specifications or otherwise under this Contract for the construction of the VESSEL can cannot be procured in time to effect delivery of the VESSEL, or are in short supplysupply to maintain the Delivery Date of the VESSEL, the BUILDER may, provided that the BUYER shall so agrees agree in writing, which shall not be unreasonably withheld, supply other materials with equivalent quality and equipment of the best available and like quality, capable of meeting the requirements of the Classification Society and of the rules, regulations, regulations and requirements and recommendations with which the construction of the VESSEL must comply. Any agreement as to such substitution of materials shall be effected in the manner as provided in Paragraph 1 of this Article, and shall, shall likewise, include possible decrease or increase alterations in the Contract Price and other terms and conditions of this Contract affected occasioned by or resulting from such substitution. (End of Article).

Substitution of Materials. In the event that any of the materials required by the SPECIFICATIONS Specification or otherwise under this Contract for the construction of the VESSEL can cannot be procured in time to effect delivery of the VESSEL, or are in short supplysupply to maintain the Delivery Date of the VESSEL, the BUILDER may, provided that the BUYER so agrees in writingBUILDER shall obtain the BUYER's prior written approval, which shall not be unreasonably withheld, supply other materials and equipment of the best available and like quality, capable of meeting the requirements of the Classification Society and of the rules, regulations, regulations and requirements and recommendations with which the construction of the VESSEL must comply. Any agreement as to such substitution of materials shall be effected in the manner as provided in Paragraph 1 of this Article, and shall, likewise, include possible decrease or increase alterations in the Contract Price and other terms and conditions of this Contract affected contract occasioned by or resulting from such substitution. (End of Article).

Substitution of Materials. In the event that any of the materials required by the SPECIFICATIONS Specification or otherwise under this Contract for the construction of the VESSEL can cannot be procured in time to effect delivery of the VESSEL, or are in short supplysupply to maintain the Delivery Date of the VESSEL, the BUILDER may, provided that the BUYER so agrees in writingBUILDER shall obtain the BUYER's prior written approval, which shall not be unreasonably withheld., supply other materials and equipment of the best available and like quality, capable of meeting the requirements of the Classification Society and of the rules, regulations, regulations and requirements and recommendations with which the construction of the VESSEL must comply. Any agreement as to such substitution of materials shall be effected in the manner as provided in Paragraph 1 of this Article, and shall, likewise, include possible decrease or increase alterations in the Contract Price and other terms and conditions of this Contract affected contract occasioned by or resulting from such substitution. (End of Article).

Substitution of Materials. In the event that any of the materials required by the SPECIFICATIONS Specifications or otherwise under this Contract for the construction of the VESSEL can not be procured in time to effect delivery of the VESSEL, or are in short supply, the BUILDER may, provided the BUYER OWNER so agrees in writing, supply other materials and equipment of the best available and like quality, capable of meeting the requirements of the Classification Society and of the rules, regulations, requirements and recommendations with which the construction of the VESSEL must comply. Any agreement as to such substitution of materials shall be effected in the manner as provided in Paragraph 1 of this Article, and shall, likewise, include possible decrease or increase in the Contract Price and other terms and conditions of this Contract affected by such substitution. (End of Article).

Substitution of Materials. In the event that any of the materials required by the SPECIFICATIONS Specifications or otherwise under this Contract for the construction of the VESSEL DRILLSHIP can not be procured in time to effect delivery of the VESSELDRILLSHIP, or are in short supply, the BUILDER may, provided the BUYER so agrees in writing, supply other materials and equipment of the best available and like quality, capable of meeting the requirements of the Classification Society and of the rules, regulations, requirements and recommendations with which the construction of the VESSEL DRILLSHIP must comply. Any agreement as to such substitution of materials shall be effected in the manner as provided in Paragraph 1 of this Article, and shall, likewise, include possible decrease or increase in the Contract Price and other terms and conditions of this Contract affected by such substitution. (End of Article)) ------------------------------------------

Substitution of Materials. In the event that any of the materials required by the SPECIFICATIONS or otherwise under this Contract for the construction of the VESSEL can not be procured in time to effect delivery of the VESSEL, or are in short supply, the BUILDER may, provided the BUYER so agrees in writing, supply other materials and equipment of the best available and like quality, capable of meeting the requirements of the Classification Society and of the rules, regulations, requirements and recommendations with which the construction of the VESSEL must comply. Any agreement as to such substitution of materials shall be effected in the manner as provided in Paragraph 1 of this Article, and shall, likewise, include possible decrease or increase in the Contract Price and other terms and conditions of this Contract affected by such substitution. (End of Article)) 25

Substitution of Materials. In the event that any of the materials required by the SPECIFICATIONS Specifications or otherwise under this Contract for the construction of the VESSEL can not be procured in time to effect delivery of the VESSEL, or are in short supply, the BUILDER may, provided the BUYER OWNER so agrees in writing, supply other materials and equipment of the best available and like quality, capable of meeting the requirements of the Classification Society and of the rules, regulations, requirements and recommendations with which the construction of the VESSEL must comply. Any agreement as to such substitution of materials shall be effected in the manner as provided in Paragraph 1 of this Article, and shall, likewise, include possible decrease or increase in the Contract Price and other terms and conditions of this Contract affected by such substitution. (End of Article)