Common use of Late Delivery Payment Clause in Contracts

Late Delivery Payment. Notwithstanding the foregoing, if Landlord does not deliver possession of (i) one (1) full floor of the Initial Premises to Tenant within ninety (90) days after the Scheduled Commencement Date (as such date may be extended by any period of Tenant Delay and by any delay attributable to Force Majeure), and (ii) the entire Initial Premises to Tenant within one hundred twenty (120) days after the Scheduled Commencement Date (as such date may be extended by any period of ▇▇▇▇▇▇ ▇▇▇▇▇ and by any delay attributable to Force Majeure), then Landlord shall pay to Tenant the sum of Thirty Thousand Dollars ($30,000) per month until Landlord delivers possession of the entire Initial Premises in the condition required under this Lease, up to a maximum payment of One Hundred Eighty Thousand Dollars ($180,000) (the "Late Delivery Payment") as liquidated damages but not as a penalty. The Late Delivery Payment shall be prorated for any partial month (based on the actual days in that month) and applied as a credit against the first installments of Rent falling due hereunder or shall be paid on any termination of this Lease pursuant to Section 2.2(b) below. Tenant acknowledges that -------------- actual damages may be difficult to ascertain and that this provision does not constitute a penalty. The parties acknowledge that the Late Delivery Payment has been specifically negotiated between Landlord and Tenant and that the amount of such payment represents a reasonable estimation of the damages that ▇▇▇▇▇▇ would suffer in the event Landlord fails to deliver possession of the Premises in a timely manner. Except as provided in Section 2.2(c) below, Tenant waives any -------------- other rights or remedies available to it at law or equity for such late delivery.

Late Delivery Payment. Notwithstanding the foregoing, if Landlord does not deliver possession of (i) one three (13) full floor floors of the Initial Premises to Tenant within ninety (90) days after the Scheduled Commencement Date (as such date may be extended by any period of Tenant Delay and by any delay attributable to Force Majeure), and (ii) the entire Initial remaining three (3) floors of the Premises to Tenant within one hundred twenty (120) days after the Scheduled Commencement Date (as such date may be extended by any period of ▇▇▇▇▇▇ ▇▇▇▇▇ Tenant Delay and by any delay attributable to Force Majeure), then Landlord shall pay to Tenant the sum of Thirty Forty-Five Thousand Dollars ($30,00045,000) per month until Landlord delivers possession of the entire Initial Premises in the condition required under this Lease, up to a maximum payment of One Two Hundred Eighty Seventy Thousand Dollars ($180,000270,000) (the "Late Delivery Payment") as liquidated damages but not as a penalty. The Late Delivery Payment shall be prorated for any partial month (based on the actual days in that month) and applied as a credit against the first installments of Rent falling due hereunder or shall be paid on any termination of this Lease pursuant to Section 2.2(b) below. Tenant acknowledges -------------- that -------------- actual damages may be difficult to ascertain and that this provision does not constitute a penalty. The parties acknowledge that the Late Delivery Payment has been specifically negotiated between Landlord and Tenant and that the amount of such payment represents a reasonable estimation of the damages that ▇▇▇▇▇▇ would suffer in the event Landlord fails to deliver possession of the Premises in a timely manner. Except as provided in this Section 2.2(cor in Section 2.2(b) -------------- below, Tenant waives any -------------- other rights or remedies available to it at law or equity for such late delivery.