TITLE AND RISK. Title to and risk of loss of the VESSEL shall pass to the BUYER only upon the delivery and acceptance thereof having been completed as stated above; it being expressly understood that, until such delivery is effected, title to and risk of loss of the VESSEL and her equipment shall be in the BUILDER.
Appears in 9 contracts
Samples: Construction Contract, Shipbuilding and Construction Agreement (Stolt Nielsen S A), Shipbuilding and Construction Agreement (Stolt Nielsen S A)
TITLE AND RISK. Title to and risk of loss of the VESSEL shall pass to the BUYER only upon the delivery and acceptance thereof having been completed as stated above; it being expressly understood that, until such delivery is effected, title to and risk of loss fulfilment of the VESSEL BUYER’s obligations under this Contract and her equipment shall be in the execution of the Protocol of Delivery and Acceptance by the BUYER and the BUILDER.
Appears in 5 contracts
Samples: Memorandum of Agreement, Memorandum of Agreement (Nordic American Offshore Ltd.), Memorandum of Agreement (Nordic American Offshore Ltd.)
TITLE AND RISK. Title to and risk of loss of the VESSEL shall pass to the BUYER from the BUILDER only upon the delivery and acceptance thereof having been completed as stated above; it being expressly understood that, until such delivery is effected, title to and risk of loss of the VESSEL and her machinery and equipment shall be entirely in the BUILDER.
Appears in 4 contracts
Samples: Shipbuilding Contract (Globus Maritime LTD), Shipbuilding Contract (Globus Maritime LTD), Shipbuilding Contract (Scorpio Bulkers Inc.)
TITLE AND RISK. Title to and risk of loss of the VESSEL shall pass to the BUYER only upon the delivery and acceptance thereof having been completed as stated above; it being expressly understood that, until such delivery is effected, title to the VESSEL, and her equipment, shall remain with the SELLER and be at the entire risk of loss of the VESSEL and her equipment shall be in the BUILDERSELLER.
Appears in 4 contracts
Samples: Shipbuilding Contract (Aegean Marine Petroleum Network Inc.), Shipbuilding Contract (Aegean Marine Petroleum Network Inc.), Shipbuilding Contract (Aegean Marine Petroleum Network Inc.)
TITLE AND RISK. Title to and risk of loss of or damage to the VESSEL shall pass to the BUYER only upon the delivery and acceptance thereof having been completed as stated above; it being expressly understood that, until such delivery is effected, title to and risk of loss of or damage to the VESSEL and her equipment and risk of items and materials supplied by the BUYER or its suppliers shall be in with the BUILDERSELLER. Notwithstanding the provisions of this ARTICLE VII, the title to the material and equipment supplied by the BUYER shall remain with the BUYER.
Appears in 4 contracts
Samples: Ship Building Contract (Seaspan CORP), Ship Building Contract (Seaspan CORP), Ship Building Contract (Seaspan CORP)
TITLE AND RISK. Title to and risk of loss of the VESSEL shall pass to the BUYER only upon the delivery and acceptance thereof having been completed as stated above; it being expressly understood that, until such delivery is effected, title to and risk of loss of the VESSEL and her equipment shall be in the BUILDERSELLERS, excepting risk of war, earthquakes and tidal waves.
Appears in 3 contracts
Samples: Ship Sale Contract (Globus Maritime LTD), Ship Sale Contract (Globus Maritime LTD), Ship Sale Contract (Globus Maritime LTD)
TITLE AND RISK. Title to and risk of loss of the VESSEL shall pass to the BUYER OWNER only upon the delivery and acceptance thereof having been completed as stated above; it being expressly understood that, until such delivery is effected, title to and risk of damage to or loss of the VESSEL and her equipment shall be in the BUILDER.
Appears in 2 contracts
Samples: Construction Contract (R&b Falcon Corp), Contract for Construction and Sale of Vessel (R&b Falcon Corp)
TITLE AND RISK. Title to and risk of loss of the VESSEL Vessel shall pass to the BUYER only Buyer upon the delivery and acceptance thereof having been completed as stated above; it being expressly understood that, until . Prior to such delivery is effected, and acceptance title to and risk of loss of the VESSEL Vessel and her equipment shall be vested in the BUILDERBuilder. Notwithstanding this Article title to the Buyer’s supplies shall always vest with the Buyer.
Appears in 2 contracts
Samples: Ship Sales Contract (Safe Bulkers, Inc.), Ship Sales Contract (Safe Bulkers, Inc.)
TITLE AND RISK. Title to and risk of loss of the VESSEL Vessel shall pass to the BUYER Buyer only upon the delivery and acceptance thereof having been completed as stated above; it being expressly understood that, until such delivery is effected, title to and risk of loss of the VESSEL Vessel and her equipment shall be in the BUILDERBuilder.
Appears in 1 contract
Samples: Contract for the Construction and Sale of a Vessel (Trico Marine Services Inc)
TITLE AND RISK. Title to and risk of loss of the VESSEL shall pass to the BUYER only upon the delivery and acceptance thereof having been completed as stated aboveabove as evidenced by the protocol of delivery and acceptance being duly signed by the Seller and the Buyer; it being expressly understood that, until such delivery is effected, title to and risk of loss of the VESSEL and her equipment shall be in remain at all times with the BUILDERSELLER.
Appears in 1 contract
TITLE AND RISK. Title to and risk of loss of the VESSEL shall pass be passed to the BUYER only upon the delivery and acceptance thereof having been completed as stated above; it being expressly understood that, until such delivery is effected, title to and risk of loss of the VESSEL and her equipment shall be vested in the BUILDER.SELLER,
Appears in 1 contract
TITLE AND RISK. Title to and risk of loss of or damage to the VESSEL shall pass to the BUYER only upon the delivery and acceptance thereof having been completed as stated above; it being expressly understood that, until such delivery is effected, title to and risk of loss of or damage to the VESSEL and her equipment and risk of items and materials supplied by the BUYER or its suppliers shall be in with the BUILDER. Notwithstanding the provisions of this Article, the title to the material and equipment supplied by the BUYER shall remain with the BUYER.
Appears in 1 contract
Samples: Ship Building Contract (Danaos Corp)
TITLE AND RISK. Title to and risk of loss of the VESSEL shall pass to the BUYER only upon the delivery and acceptance thereof having been completed as stated above; it being expressly understood that, until such delivery is effected, title to and risk of loss of the VESSEL and her equipment as well as risk of loss of BUYER’s supplies (which are actually in SELLER’s custody) shall be in the BUILDERSELLER, excepting risks of war, earthquakes and tidal waves. The title to the BUYER’s supplies as provided in the Specification, shall remain with the BUYER.
Appears in 1 contract
Samples: Shipbuilding Contract (Aegean Marine Petroleum Network Inc.)
TITLE AND RISK. Title to and risk of loss of the VESSEL shall pass to the BUYER only upon the delivery and acceptance thereof having been completed as stated above; it being expressly understood that, until such delivery is effected, title to and risk of loss of the VESSEL and her equipment shall be in the BUILDERBUILDER excepting risks of war, earthquakes and tidal waves.
Appears in 1 contract
TITLE AND RISK. Title to and risk of loss of the VESSEL shall pass to the BUYER only upon the delivery and acceptance thereof having been completed as stated above; it being expressly understood that, until such delivery is effected, title to and risk of loss of the VESSEL and her equipment shall be in the BUILDER, excepting risks of war, earthquakes and tidal waves.
Appears in 1 contract
Samples: Shipbuilding Contract (Tsakos Energy Navigation LTD)
