Common use of Concurrent Delays Clause in Contracts

Concurrent Delays. (a) In the event of a concurrent HQUS Delay and Owner Delay (a “Concurrent Delay”), for each day (or part thereof) during which a Concurrent Delay is continuing, Owner will pay to Distribution Company an amount equal to One Hundred Dollars ($100) per MW of Contract Capacity per day for the period commencing on the Target Date and ending on the earliest of (w) the date on which either the Québec Line or the NECEC Transmission Line is capable of commercial operation but for the other Party’s delay, (x) the Commercial Operation Date, (y) the date on which Distribution Company terminates this Agreement under Section 14.4 hereof, and (z) twelve (12) months after the Target Date. (b) The Parties acknowledge and agree that the payment of amounts by Owner to Distribution Company under clause (a) above is an appropriate remedy and that any such payment does not constitute a forfeiture or penalty of any kind. The Parties further acknowledge and agree that the damages for a Concurrent Delay are difficult or impossible to determine and that the damages calculated hereunder constitute a reasonable approximation of the harm or loss to Distribution Company as a result thereof. (c) The rights provided in Section 3.3.3 and this Section 4.4.2 shall collectively be the sole and exclusive remedies of Distribution Company with respect to a Concurrent Delay. The foregoing sentence shall not be construed in any way to limit (i) Distribution Company’s rights to recover any costs or expenses (including reasonable attorneys’ fees) reasonably incurred by Distribution Company to recover any amounts owed to Distribution Company by Owner under this Agreement, or (ii) Distribution Company’s rights to recover payment of any indemnification obligations of Owner to Distribution Company pursuant to Section 20.1.