Common use of Substitution of Materials Clause in Contracts

Substitution of Materials. In the event that any of the materials and equipment more specifically described in the definition of VESSEL and 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 to maintain the delivery date of the VESSEL, the SELLER may, provided the BUYER so agrees in writing, supply other materials and equipment of the available and equal or better quality, 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 and equipment shall be effected in the manner as provided in Clause 1 of this ARTICLE V, and shall, likewise, be in accordance with the terms and conditions of this Contract affected by such substitution. (end of Article)

Substitution of Materials. In the event that any of the materials and equipment more specifically described in the definition of VESSEL and 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 to maintain the delivery date of the VESSEL, the SELLER BUILDER may, provided the BUYER so agrees in writing, supply other materials and equipment of the best available and equal or better like quality, 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 and equipment shall be effected in the manner as provided in Clause 1 of this ARTICLE VArticle, and shall, likewise, be in accordance with the terms and conditions of this Contract affected by such substitution. (end of Article).