Damages for shortfall in performance Sample Clauses

Damages for shortfall in performance. The Concessionaire shall ensure and procure compliance of each of the Key Performance Indicators and for any shortfall in average performance during a quarter, it shall pay Damages within 30 (thirty) days of the quarter in which the shortfall occurred. The Damages due and payable under this Clause 21.8 shall be determined in accordance with the rates as set forth in Schedule-L for each Key Performance Indicator.
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Damages for shortfall in performance. The Operator will be liable to pay the Damages at the rates set out in Schedule 3 (Functional Guarantees and Damages), if the Operator fails to meet the respective Functional Guarantees in the performance of the O&M Services.
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Damages for shortfall in performance. The Developer shall ensure and procure compliance of the Key Performance Indicator and for any shortfall in average performance during a quarter, it shall pay Damages at the rate of 0.5% (point five per cent) of the User Fees for that quarter for every 10% (ten per cent) in the shortfall, within 30 (thirty) days of the quarter in which the shortfall occurred.
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Damages for shortfall in performance. 23.3.1 The Concessionaire shall ensure and procure compliance of each of the Key Performance Indicators specified in this Article 23 and for any shortfall in average performance during a 6 (six)-month period, it shall, subject to the proviso below, pay Damages within the time period mentioned in Clause 23.3.3 for the half year in which the shortfall occurred. The Damages due and payable under this Clause 23.3 shall be determined at the rate of [0.1% (zero point one per cent) of the total revenue from Fee in the respective 6 (six) month period for every shortfall of 10% (ten per cent)] in any single Key Performance Indicator specified in this Article 23 and in case there is a shortfall in more than one Key Performance Indicator then for each such Key Performance Indicator [0.1% (zero point one per cent) of total revenue from Fee] shall be payable as Damages; Provided that no Damages shall be payable in pursuance of this Clause 23.3.1 if the Concessionaire, within a period not exceeding 90 (ninety) days from the date of notice of such shortfall from the Authority is able to identify, rectify and cure the reasons attributable to the shortfall in the performance and demonstrate to the satisfaction of the Authority that all Key Performance Indicators are adhered. 23.3.2 Save and except as expressly provided in this Agreement, the Independent Expert shall: (a) within 7 (seven) days of the receipt of the report, conduct an audit based on documents to be made available by the Concessionaire and the Authority, to determine the performance of the Concessionaire for and in respect of the Key Performance Indicators; and (b) within 15 (fifteen) days of the receipt of the report, conduct a physical audit at the MMLP, to determine the performance of the Concessionaire for and in respect of the Key Performance Indicators. Upon completion of the audit under the provisions of Clause 23.3.2, the Independent Expert shall compute and communicate to the Concessionaire and the Authority, by written notice, the Damages payable by the Concessionaire. 23.3.3 The Parties agree that the Damages shall be due and payable within 30 (thirty) days of the date of their determination by the Independent Expert under Clause 23.3.2 and any errors thereof shall be corrected and reconciled within 60 (sixty) days of the close of the relevant Accounting Year. 23.3.4 Any goods and services tax, if applicable, on the payment of Damages by the Concessionaire to the Authority shall be paid by the Conc...
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Damages for shortfall in performance. The Concessionaire shall ensure and procure compliance of each of the Key Performance Indicators specified in this Article 26 and for any shortfall in performance during a quarter, it shall be liable for Damages. Any such Damages will be determined by AERA and adjusted against Aeronautical Charges for the specified period. In the event the Damages are not determined by AERA, the Damages shall be determined by the Authority. In case the damages are determined by the Authority, the damages due and payable under this clause 26.9 shall, save and except as provided in Clauses 26.5.3 and 26.7.4, be determined at the rate of 1% of the total revenue from Fees in the respective quarter for every shortfall of 10% in any single performance indicator specified in this Article 26; provided, however, that where the shortfall cannot be quantified, the Damages shall be determined at the rate of 2% of the total revenue from the Fees for the relevant quarter; provided further that the Authority may fully or partially waive its right to impose Damages, in part or full, if it is satisfied that the Concessionaire has been carrying outs its obligations diligently and efficiently and that the shortfall to be waived was on account of reasons beyond the control of the Concessionaire.
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Related to Damages for shortfall in performance

  • Default in Performance (i) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement on its part to be performed or observed and contained in Section 8.4.(h) or Article IX.; or (ii) Any Loan Party shall fail to perform or observe any term, covenant, condition or agreement contained in this Agreement or any other Loan Document to which it is a party and not otherwise mentioned in this Section, and in the case of this subsection (b)(ii) only, such failure shall continue for a period of 30 days after the earlier of (x) the date upon which a Responsible Officer of the Borrower or such other Loan Party obtains knowledge of such failure or (y) the date upon which the Borrower has received written notice of such failure from the Administrative Agent.

  • Prevention or Delay in Performance by the Depositary or the Company Neither the Depositary nor the Company nor any of their respective directors, employees, agents or affiliates shall incur any liability to any Owner or Holder (i) if by reason of any provision of any present or future law or regulation of the United States or any other country, or of any governmental or regulatory authority or stock exchange, or by reason of any provision, present or future, of the articles of association or similar document of the Company, or by reason of any provision of any securities issued or distributed by the Company, or any offering or distribution thereof, or by reason of any act of God or war or terrorism or other circumstances beyond its control, the Depositary or the Company shall be prevented, delayed or forbidden from, or be subject to any civil or criminal penalty on account of, doing or performing any act or thing which by the terms of this Deposit Agreement or the Deposited Securities it is provided shall be done or performed, (ii) by reason of any non-performance or delay, caused as aforesaid, in the performance of any act or thing which by the terms of this Deposit Agreement it is provided shall or may be done or performed, (iii) by reason of any exercise of, or failure to exercise, any discretion provided for in this Deposit Agreement, (iv) for the inability of any Owner or holder to benefit from any distribution, offering, right or other benefit which is made available to holders of Deposited Securities but is not, under the terms of this Deposit Agreement, made available to Owners or holders, or (v) for any special, consequential or punitive damages for any breach of the terms of this Deposit Agreement. Where, by the terms of a distribution pursuant to Section 4.01, 4.02 or 4.03, or an offering or distribution pursuant to Section 4.04, or for any other reason, such distribution or offering may not be made available to Owners, and the Depositary may not dispose of such distribution or offering on behalf of such Owners and make the net proceeds available to such Owners, then the Depositary shall not make such distribution or offering, and shall allow any rights, if applicable, to lapse.

  • Prevention or Delay in Performance by the Depositary or the Issuer Neither the Depositary nor the Issuer nor any of their respective directors, employees, agents or affiliates shall incur any liability to any Owner or holder of any Receipt, if by reason of any provision of any present or future law or regulation of the United States or any other country, or of any governmental or regulatory authority or stock exchange, or by reason of any provision, present or future, of the Articles of Association of the Issuer, or by reason of any provision of any securities issued or distributed by the Issuer, or any offering or distribution thereof, or by reason of any act of God or war or terrorism or other circumstances beyond its control, the Depositary or the Issuer shall be prevented, delayed or forbidden from, or be subject to any civil or criminal penalty on account of, doing or performing any act or thing which by the terms of this Deposit Agreement or the Deposited Securities it is provided shall be done or performed; nor shall the Depositary or the Issuer or any of their respective directors, employees, agents or affiliates incur any liability to any Owner or holder of any Receipt by reason of any non-performance or delay, caused as aforesaid, in the performance of any act or thing which by the terms of this Deposit Agreement it is provided shall or may be done or performed, or by reason of any exercise of, or failure to exercise, any discretion provided for in this Deposit Agreement. Where, by the terms of a distribution pursuant to Sections 4.1, 4.2, or 4.3 of the Deposit Agreement, or an offering or distribution pursuant to Section 4.4 of the Deposit Agreement, or for any other reason, such distribution or offering may not be made available to Owners, and the Depositary may not dispose of such distribution or offering on behalf of such Owners and make the net proceeds available to such Owners, then the Depositary shall not make such distribution or offering, and shall allow any rights, if applicable, to lapse.

  • Non-Performance The obligation of ECOLOGY to the RECIPIENT is contingent upon satisfactory performance by the RECIPIENT of all of its obligations under this Agreement. In the event the RECIPIENT unjustifiably fails, in the opinion of ECOLOGY, to perform any obligation required of it by this Agreement, ECOLOGY may refuse to pay any further funds, terminate in whole or in part this Agreement, and exercise any other rights under this Agreement. Despite the above, the RECIPIENT shall not be relieved of any liability to ECOLOGY for damages sustained by ECOLOGY and the State of Washington because of any breach of this Agreement by the RECIPIENT. ECOLOGY may withhold payments for the purpose of setoff until such time as the exact amount of damages due ECOLOGY from the RECIPIENT is determined.

  • Default in Performance of Other Covenants and Conditions The Borrower or any other Credit Party shall default in the performance or observance of any term, covenant, condition or agreement contained in this Agreement (other than as specifically provided for otherwise in this Section) or any other Loan Document and such default shall continue for a period of thirty (30) days after written notice thereof has been given to the Borrower by the Administrative Agent.

  • Default in Performance of Certain Covenants Any Borrower or any other Credit Party shall default in the performance or observance of any covenant or agreement contained in Sections 7.1, 7.2 or 7.4(a)(i)(A) or Articles IX or X.

  • Damages for delay Subject to the provisions of Clause 12.4, if COD does not occur prior to the 91st day after the Scheduled Completion Date, unless the delay is on account of reasons solely attributable to the Authority or due to Force Majeure, the Concessionaire shall pay Damages to the Authority in a sum calculated at the rate of 0.1% (zero point one per cent) of the amount of Performance Security for delay of each day until COD is achieved.

  • OUR LIABILITY FOR FAILURE TO STOP PAYMENT If You order Us to place a stop payment on one of Your pre-authorized payments 3 business days or more before the transfer is scheduled, and We do not do so, We will be liable for losses or damages, to the extent provided by law. TRANSACTION SLIPS. Except for mail-in transactions and certain small-value transactions, You can get a receipt at the time You make any transaction to or from Your Account through the use of Your Card. When an electronic fund transfer has been made during any given month, You will receive a monthly statement to reflect all electronic fund transfers to or from Your Account during that statement period. In any case, You will receive a statement at least quarterly. FEES. We may assess reasonable charges against Your Account for transactions performed at electronic terminals. If so, We will specify any charges for these or other types of electronic transactions, including automatic transfers, on an accompanying pricing document. We will explain the charges to You when You open Your Account. You will be provided with a fee schedule, and other specified information after Your Account is established. Additional fee schedules are available at any of Our office locations. When You use an ATM not owned by Us, You may be charged a fee by the ATM operator, or any network used, and You may be charged a fee for a balance inquiry even if You do not complete a fund transfer.

  • Our Liability for Failure to Make Transfers If we do not complete a transfer to or from your account on time or in the correct amount according to our agreement with you, we will be liable for your losses or damages. However, there are some exceptions. We will not be liable, for instance:

  • Due Performance Each party to this Agreement undertakes the obligation that the other's expectation of receiving due performance will not be impaired. When reasonable grounds for insecurity arise with respect to the performance of either party, the other may, in writing, demand adequate assurance of due performance and until such written assurance is received may, if commercially reasonable, suspend any performance for which the agreed return has not been received.

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