TIME AND LIQUIDATED DAMAGES FOR DELAY Sample Clauses

TIME AND LIQUIDATED DAMAGES FOR DELAY. Time is of the essence as to all dates and time periods set forth in this Agreement. If the Contractor fails to achieve Substantial Completion of the Building within the time specified by this Agreement, the Owner will be damaged in an amount that would be difficult or impossible to determine. Therefore, the Contractor shall, in place of actual direct damages for delay, pay to the Owner each day as a Liquidated Damages, and not as a penalty, $2,000 for each calendar day of unexcused delay until Substantial Completion of the Building is achieved. Liquidated Damages are not a Reimbursable Cost and may be deducted by Owner from any Reimbursable Costs or Fixed Fees otherwise due the Contractor or from shared savings otherwise due the Contractor. Owner’s failure to deduct liquidated damages that have accrued shall not be deemed a waiver of Owner’s rights to their payment. Alternatively, if Substantial Completion of the Building is delayed beyond the date specified by this Agreement, the Owner may terminate this Agreement in whole or in part under the Termination for Default clause in Article XVIII, Section 18.2, and the Contractor shall be liable for Liquidated Damages under Section 10.4.a. until the Owner can reasonably attain Substantial Completion of the Building. Contractor agrees that the per diem measures of liquidated damages in 10.4.a. are reasonable measures of the damages that Owner is likely to suffer in case of delay, and Contractor agrees that it will not challenge the per diem amounts or liquidated damages imposed pursuant to this Article X except as to whether Contractor is responsible for the delays, themselves, that have resulted in the assessment of liquidated damages. The Contractor hereby waives any defense to the imposition of any liquidated damages stated herein, including the grounds that such liquidated damages are penalties or are not reasonably related to actual damages.
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Related to TIME AND LIQUIDATED DAMAGES FOR DELAY

  • Liquidated Damages for Delay In addition to the Contractor bearing the actual cost of correcting any non-compliant work or any other actual damages resulting from Contractor’s breach of this Agreement, the Contractor agrees to pay the Contractor delay damages in the amount of $500.00 per day for every day that the goods and/or services to be provided pursuant to this Agreement have not been timely delivered to the District in compliance with the Scope of Services set forth above, unless the delay has been properly excused by the terms of this Agreement. The parties agree that the District’s actual damages for delay are difficult to estimate and that this $500.00 per day sum is a reasonable pre-estimate of the District’s actual damages for each day of delay and that the is $500.00 per day sum is intended by the parties to be in the nature of liquidated damages, not a penalty. It is not the parties’ intent for this provision to limit either party’s remedies against the other for the breach of this Agreement, except for the District’s money damages for unexcused delays caused by the Contractor.

  • CONTRACT TIME AND LIQUIDATED DAMAGES (7-1-95) (Rev. 12-18-07) 108 SP1 G10 A The date of availability for this contract is October 29, 2018. The completion date for this contract is November 15, 2019. Except where otherwise provided by the contract, observation periods required by the contract will not be a part of the work to be completed by the completion date and/or intermediate contract times stated in the contract. The acceptable completion of the observation periods that extend beyond the final completion date shall be a part of the work covered by the performance and payment bonds. The liquidated damages for this contract are Two Thousand Dollars ($ 2,000.00) per calendar day.

  • Withholding for unpaid wages and liquidated damages The FHWA or the contacting agency shall upon its own action or upon written request of an authorized representative of the Department of Labor withhold or cause to be withheld, from any moneys payable on account of work performed by the contractor or subcontractor under any such contract or any other Federal contract with the same prime contractor, or any other federally-assisted contract subject to the Contract Work Hours and Safety Standards Act, which is held by the same prime contractor, such sums as may be determined to be necessary to satisfy any liabilities of such contractor or subcontractor for unpaid wages and liquidated damages as provided in the clause set forth in paragraph (2.) of this section.

  • Damages for delay Subject to the provisions of Clause 12.4, if COD does not occur prior to the 91st day after the Scheduled Completion Date, unless the delay is on account of reasons solely attributable to the Authority or due to Force Majeure, the Concessionaire shall pay Damages to the Authority in a sum calculated at the rate of 0.1% (zero point one per cent) of the amount of Performance Security for delay of each day until COD is achieved.

  • Notice of Liquidated Damages System Agency will formally notify Grantee in writing when liquidated damages action is imposed, stating the nature of the action, the reasons for imposing, and the method of appealing. Grantee must submit a written appeal, within ten (10) calendar days of receipt of the notice, to the SUD email box, ▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇▇▇▇▇▇▇@▇▇▇▇.▇▇▇▇▇.▇▇.▇▇.