Actual Generation. The Parties agree that it would be extremely difficult to precisely determine the amount of actual damages that would be suffered by Client in the event that EPC Contractor fails to achieve the Guaranteed Level. The Parties agree that the Performance Guarantee Damages are a fair and reasonable determination of the amount of actual damages that would be suffered by Client for EPC Contractor’s failure to meet the Guaranteed Level, and the Parties agree that these liquidated damages do not constitute a penalty.
Appears in 3 contracts
Samples: Engineering, Procurement and Construction Agreement, Engineering, Procurement and Construction Agreement, Engineering, Procurement and Construction Agreement
Actual Generation. The Parties agree that it would be extremely difficult to precisely determine the amount of actual damages that would be suffered by the Client in the event that the EPC Contractor fails to achieve the Guaranteed Level. The Parties agree that the Performance Guarantee Damages are a fair and reasonable determination of the amount of actual damages that would be suffered by the Client for the EPC Contractor’s failure to meet the Guaranteed Level, and the Parties agree that these liquidated damages do not constitute a penalty.
Appears in 3 contracts
Samples: Epc Agreement, Epc Agreement, Epc Agreement
