Vessel Construction Contract
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VESSEL CONSTRUCTION CONTRACT
THIS VESSEL CONSTRUCTION CONTRACT (the “Contract”) entered into as of this twenty-third of August, 2005, by and between VT HALTER MARINE, INC. (VTHM), a Delaware corporation (hereinafter called “Builder”), and VESSEL MANAGEMENT SERVICES, INC., a Delaware corporation (hereinafter called “Owner”).
WITNESSETH:
ARTICLE I — DESCRIPTION OF THE UNITS
(a) Description of the Units
Builder, for and in consideration of the sum to be paid by Owner as hereinafter set forth, agrees to design, engineer, build, launch, equip, outfit, complete and deliver at the shipyard as designated in the attached Exhibits, free and clear from liens, claims and encumbrances, four (4) 135’ x 42’ x 22’ Twin Screw Heavy Fuel Burning Ocean Tugs and four (4) 587’ x 74’ x 40’ Ocean ATB Barges (hereinafter individually referred to as the “Vessel(s)” and a Tug and Barge set is collectively referred to as the “Unit(s)”, each of which is more particularly described on the attached Tug Exhibits “A-1-T”, “A-2-T”, “A-3-T” and “A-4-T” and Barge Exhibits “A-1-B”, “A-2-B”, “A-3-B”, “A-4-B”which shall be constructed in accordance with this Contract , those specifications listed on attached Tug Exhibit “B-1” and Barge Exhibit “B-2” and the Plans and Drawings listed on the attached Tug Exhibit “C-l” and Barge Exhibit “C-2” all of which have concurrently been identified and initialed by the parties hereto and made a part hereof as if fully set forth herein. (The Units referred to in the preceding sentence may be referred to as “Unit No. HFO-1”, “Unit No.HFO-2”, “Unit No.HFO-3” and “Unit No.HFO-4” or “Units 1-4” as the context may require.)
For purposes of this Contract, the Contract Documents shall consist of the following documents (as each is defined in the Contract): this Contract, Tug Exhibits A-1-T, A-2-T, A-3-T and A-4-T, Barge Exhibits A-1-B, A-2-B, A-3-B and A-4-B, Tug Specifications listed on Exhibits B-1 and Barge Specifications B-2, Plans and Drawings listed on Tug Exhibits C-l and Barge Exhibits C-2, any Change Orders executed pursuant to Article IV hereof and amendments in writing properly signed by the parties.
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