16.Definitions

• In these Terms and Conditions, unless the context otherwise requires, the definitions below apply:

• "Business Day" means a day other than a Saturday, Sunday or a public holiday in China;
• "Containers" means such container(s) being sold by the Seller to the Purchaser under a sale and purchase agreement;
• "Encumbrance" means any claim, charge, mortgage, security, lien, option, equity, power of sale, hypothecation or other third party rights, retention of title or security interest of any kind;
• "Party" means each of Seller and Purchaser, and “parties” means Seller and Purchaser together;
• "Purchase Price" means the purchase price for the Containers as may be agreed in an agreement for the sale and purchase of Containers entered into between Seller and Purchaser;
• "Specification" includes any information relating to the Containers including but not limited to quantity, technical and functional specifications, quality and description;
• "Terms and Conditions" means the terms and conditions of sale and purchase set out in this document and (unless the context otherwise requires) includes any special terms and conditions agreed in Writing between Purchaser and Seller; and
• "Writing" includes facsimile transmission, e-mail and other comparable means of communication.