Contractual Penalty for Late Delivery Sample Clauses

Contractual Penalty for Late Delivery. If a performance or a part thereof that is to be formally accepted separately is delayed for reasons for which RNE is not responsible or if the Contractor defaults for reasons for which he is responsible in that he fails altogether to render the performance owed, or a part thereof that is to be formally accepted separately, or does not render same at the proper place, in the agreed manner or on the set performance date, RNE is entitled to do its choice of the following: - Insist on performance and demand a contractual penalty for each calendar day in default, and/or - Withdraw from the individual order without prejudice to its right to assert a contractual penalty upon setting a reasonable period of xxxxx. RNE is entitled to this right of withdrawal even if it previously insisted on performance of the contract in the above sense. If the Contractor is in default with his performance, a contractual penalty of 1% of the net order amount falls due for each calendar day begun but this penalty is not allowed to exceed a total of 25% of the net order amount.