Common use of Damages for delay Clause in Contracts

Damages for delay. 12.2.1 If either Party is not able to achieve COD for respective Lot of Buses within 45 (forty five) days from the date of procurement or handover, as the case may be, of such Lot of Buses, such Party shall be entitled to a further period not exceeding [45 (forty five)] days, or any such period as may be decided by the Authority, subject to payment of Damages to the other non-defaulting Party at the rate of {Rs. 1000 (one thousand rupees)} per Bus for each day of delay; provided further that no Damages shall be payable if such delay in achieving COD for respective Lot of Buses, has occurred solely as a result of delay in achieving Readiness for Commencement of Bus Service due to Force Majeure or due to any act of the non-defaulting Party; 12.2.2 In case the defaulting party as discussed above, is the Operator, then the Damages shall be due to be payable by the Operator from its own financial sources, within 7 (seven) days of receipt of written notification in this regard from the Authority. If the Operator fails to pay the Damages within 7 (seven) days of notification, then the amount of Damages in question will be deducted from the O&M Fee payment of the Operator and/ or appropriated from the Performance Security of the Operator. Where the Authority is in default of achieving its readiness related activities as stipulated under Clause 12.1, the Authority shall pay the aforesaid Damages to the Operator within 10 (ten) days of receipt of written notification in this regard from the Operator through the Escrow Account;

Damages for delay. 12.2.1 If either Party is not able to achieve COD for respective Lot of Buses within 45 (forty five) days from the date of procurement or handover, as the case may be, of such Lot of Buses, such Party shall be entitled to a further period not exceeding [45 (forty five)] days, or any such period as may be decided by the Authority, subject to payment of Damages to the other non-defaulting Party at the rate of {Rs. 1000 (one thousand rupees)} per Bus for each day of delay; provided further that no Damages shall be payable if such delay in achieving COD for respective Lot of Buses, has occurred solely as a result of delay in achieving Readiness for Commencement of Bus Service due to Force Majeure or due to any act of the non-non- defaulting Party; 12.2.2 In case the defaulting party as discussed above, is the Operator, then the Damages shall be due to be payable by the Operator from its own financial sources, within 7 (seven) days of receipt of written notification in this regard from the Authority. If the Operator fails to pay the Damages within 7 (seven) days of notification, then the amount of Damages in question will be deducted either from the O&M Fee payment of monthly Grant to be paid to the Operator and/ or appropriated from the Performance Security of the Operator. Where the Authority is in default of achieving its readiness related activities as stipulated under Clause 12.1, the Authority shall pay the aforesaid Damages to the Operator within 10 (ten) days of receipt of written notification in this regard from the Operator Operator, through the Escrow Accountits own sources;

Damages for delay. 12.2.1 If either Party is not able to achieve COD for respective Lot of Buses within 45 (forty five) days from the date of procurement or handover, as the case may be, of such Lot of Buses, such Party shall be entitled to a further period not exceeding [45 (forty five)] days, or any such period as may be decided by the Authoritymutually decided, subject to payment of Damages to the other non-defaulting Party as liquidated damages at the rate of {Rs. 1000 (one thousand rupees)} per Bus 0.5% of Estimated Project Cost for each day week of delay; provided further that no Damages shall be payable if such delay in achieving COD for respective Lot of Buses, has occurred solely as a result of delay in achieving Readiness for Commencement of Bus Service due to Force Majeure or due to any act of the non-non- defaulting Party; 12.2.2 In case the defaulting party as discussed above, is the Operator, then the Damages shall be due to be payable by the Operator from its own financial sources, within 7 (seven) days of receipt of written notification in this regard from the Authority. If the Operator fails to pay the Damages within 7 (seven) days of notification, then the amount of Damages in question will be deducted either from the O&M Fee payment of monthly Grant to be paid to the Operator and/ or appropriated from the Performance Security of the Operator. Where the Authority is in default of achieving its readiness related activities as stipulated under Clause 12.1, the Authority shall pay the aforesaid Damages to the Operator within 10 (ten) days of receipt of written notification in this regard from the Operator Operator, through the Escrow Accountits own sources;

Damages for delay. 12.2.1 If either Party is not able to achieve COD for respective Lot of Buses within 45 (forty five) days from the date of procurement or handover, as the case may be, of such Lot of Buses, such Party shall be entitled to a further period not exceeding [45 (forty five)] days, or any such period as may be mutually decided by the Authority, subject to payment of Damages to the other non-defaulting Party as liquidated damages at the rate of {Rs. 1000 (one thousand rupees)} per Bus 0.5% of Estimated Project Cost for each day week of delay; provided further that no Damages shall be payable if such delay in achieving COD for respective Lot of Buses, has occurred solely as a result of delay in achieving Readiness for Commencement of Bus Service due to Force Majeure or due to any act of the non-non- defaulting Party; 12.2.2 In case the defaulting party as discussed above, is the Operator, then the Damages shall be due to be payable by the Operator from its own financial sources, within 7 (seven) days of receipt of written notification in this regard from the Authority. If the Operator fails to pay the Damages within 7 (seven) days of notification, then the amount of Damages in question will be deducted either from the O&M Fee payment of monthly Grant to be paid to the Operator and/ or appropriated from the Performance Security of the Operator. Where the Authority is in default of achieving its readiness related activities as stipulated under Clause 12.1, the Authority shall pay the aforesaid Damages to the Operator within 10 (ten) days of receipt of written notification in this regard from the Operator Operator, through the Escrow Accountits own sources;

Damages for delay. 12.2.1 If either Party is not able to achieve COD for respective Lot of Buses within 45 (forty five) days from the date of procurement or handover, as the case may be, of such Lot of Buses, such Party shall be entitled to a further period not exceeding [45 (forty five)] days, or any such period as may be decided by the Authoritymutually decided, subject to payment of Damages to the other non-defaulting Party as liquidated damages at the rate of {Rs. 1000 (one thousand rupees)} per Bus 0.5% of Estimated Project Cost for each day week of delay; provided further that no Damages shall be payable if such delay in achieving COD for respective Lot of Buses, has occurred solely as a result of delay in achieving Readiness for Commencement of Bus Service due to Force Majeure or due to any act of the non-defaulting Party; 12.2.2 In case the defaulting party as discussed above, is the Operator, then the Damages shall be due to be payable by the Operator from its own financial sources, within 7 (seven) days of receipt of written notification in this regard from the Authority. If the Operator fails to pay the Damages within 7 (seven) days of notification, then the amount of Damages in question will be deducted from the monthly O&M Fee payment of the Operator and/ or appropriated from the Performance Security of the Operator. Where the Authority is in default of achieving its readiness related activities as stipulated under Clause 12.1, the Authority shall pay the aforesaid Damages to the Operator within 10 (ten) days of receipt of written notification in this regard from the Operator through the Escrow Account;; 42 [Drafting Note: Delete the provision if Buses are procured by the Operator and replace it with the words “Intentionally kept blank”]

Damages for delay. 12.2.1 If either Party is not able to achieve COD for respective Lot of Buses within 45 (forty five) days from the date of procurement or handover, as the case may be, of such Lot of Buses, such Party shall be entitled to a further period not exceeding [45 (forty five)] days, or any such period as may be decided by the Authoritymutually decided, subject to payment of Damages to the other non-defaulting Party as liquidated damages at the rate of {Rs. 1000 (one thousand rupees)} per Bus 0.5% of Estimated Project Cost for each day week of delay; provided further that no Damages shall be payable if such delay in achieving COD for respective Lot of Buses, has occurred solely as a result of delay in achieving Readiness for Commencement of Bus Service due to Force Majeure or due to any act of the non-defaulting Party; 12.2.2 In case the defaulting party as discussed above, is the Operator, then the Damages shall be due to be payable by the Operator from its own financial sources, within 7 (seven) days of receipt of written notification in this regard from the Authority. If the Operator fails to pay the Damages within 7 (seven) days of notification, then the amount of Damages in question will be deducted from the O&M Fee payment of the Operator and/ or appropriated from the Performance Security of the Operator. Where the Authority is in default of achieving its readiness related activities as stipulated under Clause 12.1, the Authority shall pay the aforesaid Damages to the Operator within 10 (ten) days of receipt of written notification in this regard from the Operator through the Escrow Account; 12.2.3 In the event that COD for respective Lot of Buses does not occur even within the extended period set forth in Clause 12.2.1 above, the non-defaulting Party shall be entitled to terminate the Contract in terms of Article 22.