COMPLETION AND PERFORMANCE LIQUIDATED DAMAGES Sample Clauses
The Completion and Performance Liquidated Damages clause establishes predetermined financial penalties that a contractor must pay if they fail to complete a project on time or do not meet specified performance standards. Typically, this clause outlines the amount to be paid for each day of delay or for not achieving agreed-upon benchmarks, providing a clear formula for calculating damages. Its core function is to incentivize timely and proper performance, while also offering the project owner a straightforward remedy for losses without the need to prove actual damages in court.
COMPLETION AND PERFORMANCE LIQUIDATED DAMAGES. 86 11.1 Notice and Requirements for RFFGI and RFSU ................................................. 86 11.2 Ready to Load First Cargo and LNG Production Plan. ....................................... 86 11.3 Notice and Requirements for Substantial Completion ......................................... 87 11.4 Owner Acceptance of RFFGI, RFSU, RLFC, and Substantial Completion ........ 88 11.5 Performance Guarantees and Minimum Acceptance Criteria ............................. 88 11.6 Punchlist .............................................................................................................. 90 11.7 Notice and Requirements for Final Completion .................................................. 90 11.8 Partial Occupancy and Use .................................................................................. 91 11.9 Advice and Assistance after Substantial Completion .......................................... 91 11.10 Long-Term Obligations ....................................................................................... 92 ARTICLE 12
COMPLETION AND PERFORMANCE LIQUIDATED DAMAGES. 11.1 Notice and Requirements for RFFGI and RFSU. A. Notice and Requirements for RFFGI. No later than [***] ([***]) Months prior to the Guaranteed Substantial Completion Date, Contractor shall provide to Owner for its review and comment detailed RFFGI requirements, in the form of checklists, for Train 5. Once Contractor has incorporated all of Owner’s comments and/or proposed revisions to the RFFGI checklists, such RFFGI checklists shall form a part of the requirements for achieving RFFGI. Contractor shall comply with all requirements for RFFGI set forth in this Agreement, including those requirements set forth in the definition of the term RFFGI, Attachment A, Attachment M and the RFFGI checklists agreed by Owner and Contractor pursuant to this Section 11.
1. Upon RFFGI of Train 5, Contractor shall certify to Owner in the form of Schedule L-1 (“RFFGI Certificate”) that all requirements under this Agreement for RFFGI have occurred, including all of the requirements specified in the applicable RFFGI checklist have been completed. The RFFGI Certificate shall be accompanied by all other supporting documentation as may be required under this Agreement to establish that the requirements for RFFGI have been met. B. Notice and Requirements of Ready for Start Up. No later than [***] ([***]) Months prior to the Guaranteed Substantial Completion Date, Contractor shall provide to Owner for its review and comment detailed RFSU requirements, in the form of checklists, for Train 5. Once Contractor has incorporated all of Owner’s comments and/or proposed revisions to such RFSU checklists, such RFSU checklists shall form a part of the requirements for achieving RFSU. Contractor shall comply with all requirements for RFSU set forth in this Agreement, including those requirements set forth in the definition of the term RFSU, Attachment A, Attachment M and the RFSU checklists agreed by Owner and Contractor pursuant to this Section 11.
COMPLETION AND PERFORMANCE LIQUIDATED DAMAGES. 11.1 Notice of RFCD and Delivery of LNG for Commissioning, Start-Up and Performance Testing
11.2 Delay in RFCD
11.3 Notice and Requirements for Substantial Completion
11.4 Owner Acceptance of RFCD and Substantial Completion 11.5 Performance Liquidated Damages 11.6 Punchlist
COMPLETION AND PERFORMANCE LIQUIDATED DAMAGES. 78 11.1 Notice and Requirements for Mechanical Completion and RFSU. 78 11.2 Ready to Load First Cargo. 78 11.3 Notice and Requirements for Substantial Completion 81
COMPLETION AND PERFORMANCE LIQUIDATED DAMAGES. 75
11.1 Notice and Requirements for Mechanical Completion, Commissioning Completion, and RFSU 75 11.2 LNG Production Plan 76
COMPLETION AND PERFORMANCE LIQUIDATED DAMAGES