Common use of Construction Contract Liquidated Damage Deposits Clause in Contracts

Construction Contract Liquidated Damage Deposits. All Delay Liquidated Damages and Performance Liquidated Damages that were due and payable as of the Project Phase 2 Completion Date under each Material Construction Contract (excluding any damages that are the subject of a dispute) in excess of $10,000,000, shall have been deposited into the appropriate Account(s) and applied as set forth in the Common Security and Account Agreement.

Construction Contract Liquidated Damage Deposits. All Delay Liquidated Damages and Performance Liquidated Damages that were due and payable as of the Project Phase 2 Completion Date under each Material Construction Contract (excluding any damages that are the subject of a dispute) in excess of five ($10,000,0005) million, shall have been deposited into the appropriate Account(s) and applied as set forth in the Common Security and Account Agreement.