Common use of Penalty for shortfall in performance Clause in Contracts

Penalty for shortfall in performance. In the event the Concessioning Authority, whether from the review of reports submitted by the Concessionaire or otherwise, observes that the Project/Project Facilities and Services do not comply with the Performance Standards or fall short of the Performance Standards, the Concessioning Authority shall calculate the amount of penalty payable by the Concessionaire in accordance with Article 7.5 and demand the Concessionaire by a notice in writing to pay the same within 30 (thirty) Days and on failure of the Concessionaire to pay the same recover the amount from the Concessionaire. Provided that on receipt of the demand the Concessionaire may make a written representation to the Concessioning Authority which shall be considered by Concessioning Authority on merits and the Concessioning Authority may waive the penalty in part or full, if it is satisfied that the Concessionaire has been carrying out its obligations diligently and efficiently and the shortfall to be waived was on account of reasons beyond the control of the Concessionaire.

Penalty for shortfall in performance. In the event the Concessioning Authority, whether from the review of reports submitted by the Concessionaire or otherwise, observes that the Project/Project Facilities and Services do not comply with the Performance Standards or fall short of the Performance Standards, the Concessioning Authority shall calculate the amount of penalty payable by the Concessionaire in accordance with Article 7.5 9.7 and demand the Concessionaire by a notice in writing to pay the same within 30 (thirty) Days and on failure of the Concessionaire to pay the same recover the amount from the Concessionaire. Provided that on receipt of the demand the Concessionaire may make a written representation to the Concessioning Authority which shall be considered by Concessioning Authority on merits and the Concessioning Authority may waive the penalty in part or full, if it is satisfied that the Concessionaire has been carrying out its obligations diligently and efficiently and the shortfall to be waived was on account of reasons beyond the control of the Concessionaire.