Calculations and Payments of Liquidated Damages Clause Samples

The "Calculations and Payments of Liquidated Damages" clause defines how predetermined monetary penalties are calculated and paid when a party breaches specific contractual obligations, such as missing deadlines or failing to meet performance standards. Typically, this clause outlines the formula or method for determining the amount owed, the timeline for payment, and any conditions that may affect the calculation, such as partial completion or mitigating circumstances. Its core practical function is to provide a clear, agreed-upon mechanism for compensating the non-breaching party, thereby reducing disputes and uncertainty over damages in the event of a contract breach.
Calculations and Payments of Liquidated Damages. ‌ (a) Unless otherwise set forth in this article 24, all calculations with respect to amounts payable as liquidated damages under this article 24 shall be made by Seller and provided to Buyer within (i) in the case of Section 24.2 (“Critical Milestone Guarantee Liquidated Damages”) and Section 24.3 (“Liquidated Damages for Delay in Substantial Completion”), ten (10) Business Days after the final day of each month during which amounts become payable thereunder; and
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Calculations and Payments of Liquidated Damages. (a) Unless otherwise set forth in this Article 23, all calculations with respect to amounts payable as Liquidated Damages under this Article 23 shall be made by Contractor and provided to Company within, and shall become due and payable (i) in the case of Section 23.2, ten (10) Business Days after the final day of each month during which such delay occurs; and (ii) in the case of Section 23.3, five (5) Business Days after expiration of the BOP Load Guarantee LD Cure Period. Company shall have the right to audit such calculations. Contractor shall itemize such calculations and such calculations shall include such supporting documentation as Company shall reasonably request and shall be in sufficient detail to permit Company to verify each calculation. Company shall notify Contractor as soon as reasonably practicable of any portion of the calculations with which Company disagrees. In the event Contractor disputes in good faith the payment of any portion of Liquidated Damages hereunder, Company shall not otherwise withhold payment or make payment of such disputed portion of Liquidated Damages one of the criteria for Substantial Completion. (b) Notwithstanding anything in this Agreement to the contrary, in no event shall the maximum amount of Liquidated Damages hereunder exceed ten percent (10%) of the Contract Price. (c) Liquidated Damages shall bear interest at the Late Payment Rate, compounded daily from the date such amount was due.
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Calculations and Payments of Liquidated Damages. (a) All amounts payable as liquidated damages under this ARTICLE 24 shall be made by Developer to PacifiCorp as follows: (i) in the case of Delay Liquidated Damages, thirty (30) days after the final day of each month during which liquidated damages became payable pursuant to Section 24.3; and (ii) in the case of Performance Liquidated Damages, if applicable, thirty (30) days after PacifiCorp’s receipt of the Final Performance Test Report or as otherwise provided in Appendix AA. PacifiCorp shall have the right to audit Developer’s calculations of all liquidated damages. Developer shall itemize such calculations and such calculations shall include such supporting documentation as PacifiCorp may reasonably request and shall be in sufficient detail to permit PacifiCorp to verify each calculation. PacifiCorp shall notify Developer, as soon as reasonably possible, of any portion of the calculations with which PacifiCorp disagrees. (b) Liquidated damages shall bear interest at the Late Payment Rate, compounded daily from the date such amount was due, but not to exceed the maximum rate of interest permitted by applicable Law.
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Calculations and Payments of Liquidated Damages. ‌ (a) Unless otherwise set forth in this article 24, all calculations with respect to amounts payable as liquidated damages under this article 24 shall be made by Seller and provided to Buyer within (i) in the case of Section 24.2 (“Critical Milestone Guarantee Liquidated Damages”) and Section 24.3 (“Liquidated Damages for Delay in Substantial Completion”), ten (10) Business Days after the final day of each month during which amounts become payable thereunder; and (ii) in the case of Section 24.4 (“Liquidated Damages for Net Capacity”) and Section 24.5 (“Liquidated Damages for Startup and Commissioning”), ten (10) Business Days after Buyer’s receipt of the Final Performance Test Report, but no later than ten (10) Business Days after the end of any applicable cure period. Buyer shall have the right to audit such calculations. Seller shall itemize such calculations and such calculations shall include supporting documentation as Buyer shall reasonably request and shall be in sufficient detail to permit Buyer to verify each calculation. Buyer shall notify Seller as soon as reasonably possible of any portion of the calculations with which Buyer disagrees. (b) Liquidated damages shall bear interest at the Late Payment Rate, compounded daily from the date such amount was due, but not to exceed the maximum rate of interest permitted by Applicable Law.
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Calculations and Payments of Liquidated Damages. (a) All amounts payable as Liquidated Damages under this Article 24 shall be made by Contractor, as applicable, pursuant to the calculations in Appendix H and provided to Owner, together with the applicable payment, within (i) in the case of Section 24.2, thirty (30) days after the final day of each month during which amounts became payable there under; and (ii) in the case of Section 24.3 and Section 24.4, thirty (30) days after Owner’s receipt of the Final Performance Test Report. Owner shall have the right to audit such calculations. Contractor shall itemize such calculations and such calculations shall include supporting documentation as Owner shall reasonably request and shall be in sufficient detail to permit Owner to verify each calculation. Owner shall notify Contractor, as soon as reasonably possible of any portion of the calculations with which Owner disagrees. (b) Liquidated Damages shall bear interest at the Contract Interest Rate, compounded daily from the date such amount was due, but not to exceed the maximum rate of interest permitted by Applicable Law.‌
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Calculations and Payments of Liquidated Damages. (a) Unless otherwise set forth in this Article 23, all calculations with respect to amounts payable as liquidated damages under this Article 23 shall be made by Contractor and provided to Company within (i) in the case of Section 23.2 and Section 23.3, ten (10) Business Days after the final day of each month during which amounts become payable thereunder; and (ii) in the case of Section 23.4 and Section 23.5, ten (10) Business Days after Company’s receipt of the Final Performance Test Report, but no later than ten (10) Business Days after the end of any applicable cure period. Company shall have the right to audit such calculations. Contractor shall itemize such calculations and such calculations shall include supporting documentation as Company shall reasonably request and shall be in sufficient detail to permit Company to verify each calculation. Company shall notify Contractor as soon as reasonably possible of any portion of the calculations with which Company disagrees. (b) Liquidated damages shall bear interest at the Late Payment Rate, compounded daily from the date such amount was due, but not to exceed the maximum rate of interest permitted by Applicable Law.
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Calculations and Payments of Liquidated Damages. (a) All amounts payable as Liquidated Damages under this Article 16 shall be made by Contractor, as applicable, pursuant to the calculations in Exhibit A, Appendix M and provided to Owner, together with the applicable payment, within (i) in the case of Section 16.2, thirty (30) days after the final day of each month during which amounts became payable thereunder; and (ii) in the case of Section 16.3 and Section 16.4, thirty
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Related to Calculations and Payments of Liquidated Damages

  • Payment of Liquidated Damages If you supply all or some of your milk to a third party during a Month you must, if required by DFMC, immediately pay to DFMC liquidated damages for that Month calculated as follows: $X = W cents x (Y – Z) Where: $X is the amount payable by you to DFMC for the relevant Month. If $X is a negative amount, no amount is payable by you. Y is the average monthly litres you have supplied to DFMC based on the 12 months immediately preceding the relevant Month (or in the event you have not supplied DFMC for 12 months, the average monthly litres you have supplied to DFMC during the period you have supplied DFMC). Z is the number of litres supplied to DFMC by you for the relevant Month.

  • Calculation and Payment of Additional Rent Tenant shall pay to Landlord, in the manner set forth in Section 4.4.1, below, and as Additional Rent, Tenant’s Share of Direct Expenses for each Expense Year.

  • Obligation Absolute; Partial Liquidated Damages The Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Debenture in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by the Company of any such action the Company may have against the Holder. In the event the Holder of this Debenture shall elect to convert any or all of the outstanding principal amount hereof, the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Debenture shall have been sought and obtained, and the Company posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this Debenture, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, the Company shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If the Company fails for any reason to deliver to the Holder such Conversion Shares pursuant to Section 4(c)(ii) by the Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages begin to accrue) for each Trading Day after such Share Delivery Date until such Conversion Shares are delivered or Holder rescinds such conversion. Nothing herein shall limit a H▇▇▇▇▇’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for the Company’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

  • Notice of Liquidated Damages System Agency will formally notify Grantee in writing when liquidated damages action is imposed, stating the nature of the action, the reasons for imposing, and the method of appealing. Grantee must submit a written appeal, within ten (10) calendar days of receipt of the notice, to the SUD email box, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇▇▇▇@▇▇▇▇.▇▇▇▇▇.▇▇.▇▇.

  • Withholding for unpaid wages and liquidated damages The FHWA or the contacting agency shall upon its own action or upon written request of an authorized representative of the Department of Labor withhold or cause to be withheld, from any moneys payable on account of work performed by the contractor or subcontractor under any such contract or any other Federal contract with the same prime contractor, or any other federally-assisted contract subject to the Contract Work Hours and Safety Standards Act, which is held by the same prime contractor, such sums as may be determined to be necessary to satisfy any liabilities of such contractor or subcontractor for unpaid wages and liquidated damages as provided in the clause set forth in paragraph (2.) of this section.