Expected Initial Delivery Date definition
Examples of Expected Initial Delivery Date in a sentence
Each Party agrees that (i) the damages that ▇▇▇▇▇ would incur due to Seller’s delay in achieving the Expected Initial Delivery Date would be difficult or impossible to predict with certainty and (ii) the Delay Damages are an appropriate approximation of such damages.
If Seller cannot meet the Expected Initial Delivery Date as a result of a Force Majeure event declared by Seller in accordance with Article Two, then Seller shall work diligently to resolve the effect of the Force Majeure and provide evidence of its efforts promptly upon ▇▇▇▇▇’s written request.
If Seller has not achieved the Initial Delivery Date as of the Expected Initial Delivery Date because of a Force Majeure event, Seller is not responsible for paying Delay Damages for the period extending to the first day following a day-for-day extension of the same duration as the Force Majeure event.
Each Critical Milestone and the Expected Initial Delivery Date shall be extended on a day-for-day basis without the payment of liquidated damages, not exceeding an aggregate extension of 365 days, to the extent that such Critical Milestone or Expected Initial Delivery Date is delayed as a result of a Force Majeure Event invoked by the Seller in accordance with Section 3.11.
In the event that Seller has not satisfied the conditions precedent to the Initial Delivery Date within 365 days of the Expected Initial Delivery Date, the Seller’s failure to satisfy such conditions will constitute an Event of Default pursuant to Section 5.1(a)(vii) of this Agreement.