Common use of Failure to Meet Completion Deadlines Clause in Contracts

Failure to Meet Completion Deadlines. If Contractor fails to complete the Work in accordance with the Contract Documents, VPRA will suffer substantial losses and damages. Contractor shall be liable for all such losses and damages. Contractor acknowledges and agrees that because of the unique nature of the Project, the fact that it is an essential part of the rail transit system in the I-95 corridor, and the fact that inconvenience to the traveling public and freight traffic will be one of the significant impacts of any completion delay, it is impracticable and extremely difficult to ascertain and determine the actual damages that would accrue to VPRA and the public if Contractor fails to achieve Substantial Completion and/or achieve Final Acceptance by the applicable Completion Deadlines. Therefore, Contractor and VPRA agree to stipulate the amount payable by Contractor for its failure to meet the Completion Deadlines. Liquidated Damages are intended to compensate VPRA solely for Contractor’s failure to meet the Completion Deadlines and will not excuse Contractor from liability for any other breach of the Contract, including any failure of the Work to conform to applicable requirements. If Contractor fails to achieve Substantial Completion or Final Acceptance by the applicable Completion Deadlines, Contractor shall pay VPRA Liquidated Damages in the following amounts: (a) $[##] per Day for Contractor’s failure to achieve Substantial Completion by the Substantial Completion Deadline, until the date Contractor achieves Substantial Completion; and (b) $[##] per Day for Contractor’s failure to achieve Final Acceptance by the Final Acceptance Deadline, until the date Contractor achieves Final Acceptance. The fact that VPRA has agreed to accept Liquidated Damages as compensation for its damages associated with any delay in meeting a Completion Deadline will not preclude VPRA from exercising its other rights and remedies concerning the delay set forth in Section 17.2, other than the right to collect other damages due to the delay.

Failure to Meet Completion Deadlines. If Contractor Design-Builder fails to complete the Work in accordance with the Contract Documents, VPRA will suffer substantial losses and damages. Contractor Design-Builder shall be liable for all such losses and damages. Contractor Design-Builder acknowledges and agrees that because of the unique nature of the Project, the fact that it is an essential part of the rail transit system in the I-95 corridorWashington, D.C. metropolitan area, and the fact that inconvenience to the traveling public and freight traffic will be one of the significant impacts of any completion delay, it is impracticable and extremely difficult to ascertain and determine the actual damages that would accrue to VPRA and the public if Contractor Design-Builder fails to achieve Substantial a Completion and/or achieve Final Acceptance by the applicable Completion DeadlinesDeadline. Therefore, Contractor Design-Builder and VPRA agree to stipulate the amount payable by Contractor Design-Builder for its failure to meet the a Completion DeadlinesDeadline. Liquidated Damages are intended to compensate VPRA solely for ContractorDesign-Builder’s failure to meet the a Completion Deadlines Deadline and will not excuse Contractor Design-Builder from liability for any other breach of the ContractAgreement, including any failure of the Work to conform to applicable requirements. If Contractor fails to achieve Substantial Completion or Final Acceptance by the applicable Completion Deadlines, Contractor shall pay VPRA Liquidated Damages in the following amounts: (a) $[##] per Day for Contractor’s failure to achieve Substantial Completion by the Substantial Completion Deadline, until the date Contractor achieves Substantial Completion; and (b) $[##] per Day for Contractor’s failure to achieve Final Acceptance by the Final Acceptance Deadline, until the date Contractor achieves Final Acceptance. The fact that VPRA has agreed to accept Liquidated Damages as compensation for its damages associated with any delay in meeting a Completion Deadline will not preclude VPRA from exercising its other rights and remedies concerning the delay set forth in Section 17.215.2, other than the right to collect other damages due to the delay. If Design-Builder fails to achieve a Completion Deadline, Design-Builder shall pay VPRA Liquidated Damages in the following amounts: (a) $130,000 per Day for Design-Builder’s failure to complete the Work on Abutment B by the Abutment B Deadline, until the date Design-Builder completes the Work on Abutment B; (b) $26,000 per Day for Design-Builder’s failure to complete the Work on the Bike/Ped Bridge by the Bike/Ped Bridge Deadline, until the date Design-Builder completes the Work on the Bike/Ped Bridge; (c) $95,000 per Day for Design-Builder’s failure to achieve Substantial Completion by the Substantial Completion Deadline, until the date Design-Builder achieves Substantial Completion; and (d) $26,000 per Day for Design-Builder’s failure to achieve Final Acceptance by the Final Acceptance Deadline, until the date Design-Builder achieves Final Acceptance.