Common use of Vessel Substitution Clause in Contracts

Vessel Substitution. If a Vessel nomination is rejected by Seller, Xxxxx is obligated to nominate another, suitable Vessel for Seller’s acceptance as provided in these GTCs. If a Vessel nomination is accepted by Xxxxxx, Xxxxx may substitute another Vessel by nominating it for Seller’s acceptance. Nomination of a substitute Xxxxxx shall be made no later than four days before the Vessel’s arrival at the Cargo Transfer Point. A Vessel nomination that has been accepted by Xxxxxx is not superseded until a substitute Xxxxxx nomination has been accepted by Seller.

Vessel Substitution. If a Vessel nomination is rejected by Seller, Xxxxx Buyer is obligated to nominate another, suitable Vessel for Seller’s acceptance as provided in these GTCs. If a Vessel nomination is accepted by XxxxxxSeller, Xxxxx Buyer may substitute another Vessel by nominating it for Seller’s acceptance. Nomination of a substitute Xxxxxx Vessel shall be made no later than four days before the Vessel’s arrival at the Cargo Transfer Point. A Vessel nomination that has been accepted by Xxxxxx Seller is not superseded until a substitute Xxxxxx Vessel nomination has been accepted by Seller.