Damages for breach of maintenance obligations. 16.5.1 In the event that the Concessionaire fails to repair or rectify any defect or deficiency set forth in the Maintenance Requirements within the period specified therein, it shall be deemed to be in breach of this Agreement and the Authority shall be entitled to recover Damages, to be calculated and paid for each day of delay until the breach is cured, at 0.02% (zero point zero two per cent) of the Performance Security.
Appears in 4 contracts
Samples: Draft Concession Agreement, Draft Concession Agreement, Draft Concession Agreement
Damages for breach of maintenance obligations. 16.5.1 17.8.1 In the event that the Concessionaire fails to repair or rectify any defect or deficiency set forth in the Maintenance Requirements within the period specified therein, it shall be deemed to be in breach of this Agreement and the Authority Government shall be entitled to recover Damages, to be calculated and paid for each day of delay until the breach is cured, at 0.02the higher of (a) 0.5% (zero point zero two five per cent) of the Performance Security.Average Daily Fare, and
Appears in 1 contract
Samples: Concession Agreement
