Common use of Daily Delay Damages Clause in Contracts

Daily Delay Damages. If Seller has not satisfied the conditions set forth in Section 2.04 for the Initial Delivery Date of the Project by the Expected Initial Delivery Date, Seller shall owe and pay to SDG&E the Daily Delay Damages for each day of delay beyond the Expected Initial Delivery Date up to the number of remaining days until the Initial Delivery Deadline as follows: Seller shall, at the earliest possible time, but no later than 6 a.m. on the Business Day ten (10) days prior to the Expected Initial Delivery Date, provide SDG&E with Notice of the delay along with Seller’s estimate of the date on which it will satisfy all such conditions (the “Revised Initial Delivery Date”) and its payment of Daily Delay Damages for the period from and including the Expected Initial Delivery Date to but excluding the Revised Initial Delivery Date. If Seller has not satisfied the conditions set forth in Section 2.04 for the Initial Delivery Date of the Project by the Revised Initial Delivery Date, Seller may provide Notices of further estimated delays and payments of Daily Delay Damages subject to the same terms in the preceding sentence. The Daily Delay Damages payments are nonrefundable. Seller will be entitled to a refund (without interest) of any estimated Daily Delay Damages payments paid by Seller which exceed the amount required to cover the number of days by which the date on which Seller actually satisfied the conditions set forth in Section 2.04 for the Initial Delivery Date exceeded the applicable Revised Initial Delivery Date. If Seller fails to pay SDG&E the Daily Delay Damages when due, SDG&E shall be entitled to recover the Daily Delay Damages owed by Seller by drawing on and/or retaining any Construction Period Security.

Daily Delay Damages. If In addition to the preparation of a Remedial Action Plan in accordance with Section 4.2(b), if Seller has not satisfied the conditions set forth in Section 2.04 for the Initial Delivery Date of the Project fails to achieve Commercial Operation by the Expected Initial Delivery DateGuaranteed Commercial Operation Date (as extended pursuant to the provisions hereof), Seller shall owe and pay to SDG&E Buyer the Daily Delay Damages for each day between the Guaranteed Commercial Operation Date and the actual Commercial Operation Date. Seller’s aggregate liability for Daily Delay Damages shall not exceed the amount of delay beyond the Expected Initial Delivery Date up Development Security required to be posted pursuant to Section 5.3(b) (“Daily Delay Damages Cap”). If Seller’s liability for Daily Delay Damages exceeds the number Daily Delay Damages Cap, Seller shall have the option to pay Daily Delay Damages in excess of remaining days until the Initial Delivery Deadline as follows: Daily Delay Damages Cap, which option shall be exercised by Seller shall, in a written notice delivered to Buyer that covers periods of at the earliest possible time, but no later than 6 a.m. on the Business Day least ten (10) days prior to the Expected Initial Delivery Date, provide SDG&E with Notice of the delay along with Seller’s estimate of the date on which it will satisfy all such conditions Business Days each (the a “Revised Initial Delivery Date▇▇▇▇▇ ▇▇ Liability Extension Notice”) and its payment of additional Daily Delay Damages for the period from and including the Expected Initial Delivery Date to but excluding the Revised Initial Delivery DateDamages. If Seller has not satisfied the conditions set forth in Section 2.04 delivered to Buyer a ▇▇▇▇▇ ▇▇ Liability Extension Notice for the Initial Delivery Date of the Project by the Revised Initial Delivery Date, Seller may provide Notices of further estimated delays and payments of Daily Delay Damages subject to the same terms in the preceding sentence. The Daily Delay Damages payments are nonrefundable. Seller will be entitled to a refund (without interest) of any estimated Daily Delay Damages payments paid by Seller which exceed the amount required to cover the number of days by which the date on which Seller actually satisfied the conditions set forth in Section 2.04 for the Initial Delivery Date exceeded the applicable Revised Initial Delivery Date. If Seller fails to pay SDG&E period after the Daily Delay Damages when dueCap has been reached, SDG&E then Buyer shall be entitled have the right to recover terminate this Agreement upon ten (10) Business Days' notice to Seller (provided that Commercial Operation has not been achieved or Seller has not delivered another ▇▇▇▇▇ ▇▇ Liability Extension Notice) (such termination, an “Extended Delay Termination”). If extensions granted by ▇▇▇▇▇ ▇▇ Liability Extension Notices total three hundred sixty (360) days and Seller has still not achieved Commercial Operation, Buyer shall have the Daily Delay Damages owed by Seller by drawing on and/or retaining any Construction Period Securityright to terminate this Agreement upon ten (10) Business Days’ notice to Seller.

Daily Delay Damages. If In addition to the preparation of a Remedial Action Plan in accordance with Section 4.2(b), if Seller has not satisfied the conditions set forth in Section 2.04 for the Initial Delivery Date of the Project fails to achieve Commercial Operation by the Expected Initial Delivery Guaranteed Commercial Operation Date, Seller shall owe and pay to SDG&E Buyer the Daily Delay Damages for each day between the Guaranteed Commercial Operation Date and the actual Commercial Operation Date. Seller’s aggregate liability for Daily Delay Damages shall not exceed the amount of delay beyond the Expected Initial Delivery Date up Development Security required to be posted pursuant to Section 5.3(a) (“Daily Delay Damages Cap”). If Seller’s liability for Daily Delay Damages exceeds the number Daily Delay Damages Cap, Seller shall have the option to pay Daily Delay Damages in excess of remaining days until the Initial Delivery Deadline as follows: Daily Delay Damages Cap, which option shall be exercised by Seller shall, in a written notice delivered to Buyer that covers periods of at the earliest possible time, but no later than 6 a.m. on the Business Day least ten (10) days prior to the Expected Initial Delivery Date, provide SDG&E with Notice of the delay along with Seller’s estimate of the date on which it will satisfy all such conditions Business Days each (the a “Revised Initial Delivery Date▇▇▇▇▇ ▇▇ Liability Extension Notice”) and its payment of additional Daily Delay Damages for the period from and including the Expected Initial Delivery Date to but excluding the Revised Initial Delivery DateDamages. If Seller has not satisfied the conditions set forth in Section 2.04 delivered to Buyer a ▇▇▇▇▇ ▇▇ Liability Extension Notice for the Initial Delivery Date of the Project by the Revised Initial Delivery Date, Seller may provide Notices of further estimated delays and payments of Daily Delay Damages subject to the same terms in the preceding sentence. The Daily Delay Damages payments are nonrefundable. Seller will be entitled to a refund (without interest) of any estimated Daily Delay Damages payments paid by Seller which exceed the amount required to cover the number of days by which the date on which Seller actually satisfied the conditions set forth in Section 2.04 for the Initial Delivery Date exceeded the applicable Revised Initial Delivery Date. If Seller fails to pay SDG&E period after the Daily Delay Damages when dueCap has been reached, SDG&E then Buyer shall be entitled have the right to recover terminate this Agreement upon ten (10) Business Days' notice to Seller (provided that Commercial Operation has not been achieved or Seller has not delivered another ▇▇▇▇▇ ▇▇ Liability Extension Notice) (such termination, an “Extended Delay Termination”). If extensions granted by ▇▇▇▇▇ ▇▇ Liability Extension Notices total three hundred sixty (360) days and Seller has still not achieved Commercial Operation, Buyer shall have the Daily Delay Damages owed by Seller by drawing on and/or retaining any Construction Period Securityright to terminate this Agreement upon ten (10) Business Days’ notice to Seller.