Common use of Liquidated Damages for Delay in Substantial Completion Clause in Contracts

Liquidated Damages for Delay in Substantial Completion. If the ------------------------------------------------------ Commencement Date has not occurred (or been deemed to have occurred) by the Target Commencement Date, as it may be adjusted as described in Section 2.4, above, then Landlord shall pay Tenant liquidated damages of Two Thousand Five Hundred Dollars ($2,500) per day for each day the Commencement Date is delayed beyond the Target Commencement Date (as adjusted pursuant to Section 2.4, above) for up to six (6) months after the Target Commencement Date (as adjusted pursuant to Section 2.4, above). Such liquidated damages shall be paid within thirty (30) days after the end of each month of delay beyond the Target Commencement Date. In addition to Tenant's rights to such liquidated damages, Tenant shall have the right to terminate this Lease if the delay in the Commencement Date beyond the Target Commencement Date (as adjusted pursuant to Section 2.4, above) exceeds six (6)

Liquidated Damages for Delay in Substantial Completion. If the ------------------------------------------------------ Commencement Date has not occurred (or been deemed to have occurred) by the Target Commencement Date, as it may be adjusted as described in Section Sections 1.1 or 2.4, above, then Landlord shall pay Tenant liquidated damages of Two Thousand Five Hundred Dollars ($2,5002,500.00) per day for each day the Commencement Date is delayed beyond the Target Commencement Date (as adjusted pursuant to Section 2.4, above) for up to six (6) months after the Target Commencement Date (as adjusted pursuant to Section 2.4, above). Such liquidated damages shall be paid within thirty (30) days after the end of each month of delay beyond the Target Commencement Date. In addition to Tenant's rights to such liquidated damages, Tenant shall have the right to terminate this Lease if the delay in the Commencement Date beyond the Target Commencement Date (as adjusted pursuant to Section 2.4, above) exceeds six (6)