Document Fragment View

Matching Fragments

"6. The vessel with everything belonging to her shall be for Sellers' risk and expense until she is delivered to the Buyers, but subject to conditions of this contract, the vessel with everything belonging to her shall be delivered and taken over as she is at the time of delivery, after which the Sellers have no responsibility for possible faults or deficiencies.
8.(a) Should the vessel become a total or constructive total loss before delivery, this contract shall be considered null and void and the deposit along with interest to be immediately returned to the Buyers.
[b] Should the vessel suffer substantial partial damage due to any reason before delivery affecting the light displacement of the vessel, the Buyers will have the option to cancel this Agreement or ask for appropriate reduction in the purchase price. If the buyers opt to cancel then the deposit along wit interest to be immediately returned to the Buyers.
[c] If the Seller are not able to transfer title of the vessel or the Buyers shall be unable to accept transfer of the vessel both in accordance with this contract due to outbreak of war, restraint of Government, princes or people of any nation or United Nations or Act of God, or if the vessel should become an actual or constructive total loss, then either the Sellers or the Buyers may terminate the contract upon written or telegraphic notice from one party to the other without any liability upon either party hereunder. The deposit referred to in Clause 2 hereof, if delivered to the Sellers, shall be released to the Buyers along with interest accrued forthwith and the Agreement shall thereupon be null and void.