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

Liquidated Damages for Delay in Substantial Completion. ‌ If the conditions for Substantial Completion have not been satisfied on or prior to close of business on the Substantial Completion Guaranteed Date, then Contractor shall pay Owner liquidated damages, for each day until Substantial Completion has been achieved, in an amount equal to One Hundred and Forty Thousand Dollars ($) per day for the first thirty-one (31) days following the Substantial Completion Guaranteed Date and Two Hundred and Thirty Thousand Dollars ($) per day thereafter (collectively, the “Delay Liquidated Damages”).

Liquidated Damages for Delay in Substantial Completion. ‌ If the conditions for Substantial Completion have not been satisfied on or prior to close of business on the Substantial Completion Guaranteed Date, then Contractor shall pay Owner liquidated damages, for each day until Substantial Completion has been achieved, in an amount equal to One Hundred and Forty Thousand Dollars ($140,000) per day for the first thirty-one (31) days following the Substantial Completion Guaranteed Date and Two Hundred and Thirty Thousand Dollars ($230,000) per day thereafter (collectively, the “Delay Liquidated Damages”).