Delay Damages; Termination Upon Delay Sample Clauses

Delay Damages; Termination Upon Delay. In the event that the conditions precedent to the occurrence of the Initial Delivery Date are not satisfied or waived on or prior to the Expected Initial Delivery Date, for each day beginning with the day after the Expected Initial Delivery Date through and including the date on which the Initial Delivery Date occurs, Seller will be required to pay liquidated damages in the amount of $250 per day multiplied by the Monthly Contract Capacity (measured in MWs) during the Summer Months and $62.25 per day multiplied by the Monthly Contract Capacity (measured in MWs) during the Non-Summer Months, up to a maximum of 365 days (any portion of which, or all, such payments are “Delay Damages”). If such amounts are due, then Buyer shall provide Notice to Seller of the amounts due and deduct such amounts due from the Delivery Date Security. In the event that Seller has not satisfied the conditions precedent to the Initial Delivery Date within 365 days of the Expected Initial Delivery Date, the Seller’s failure to satisfy such conditions will constitute an Event of Default pursuant to Section 5.1(a)(vii) of this Agreement. If such an Event of Default occurs, then any time prior to the satisfaction of the conditions precedent, Buyer may elect to exercise the remedies that are available upon an Event of Default pursuant to Article V, or in the alternative, Buyer will have the option to extend the end date of the Services Term by a period equal to the difference between the Expected Initial Delivery Date and actual Initial Delivery Date.
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Delay Damages; Termination Upon Delay. (a) Subject to Section 5.5, in the event that the conditions precedent to the occurrence of the Initial Delivery Date set forth in Section 5.3 are not satisfied or waived on or prior to the Guaranteed Initial Delivery Date, for each day (or part thereof) beginning with the day after the Guaranteed Initial Delivery Date through and including the date on which the Initial Delivery Date occurs, Seller will be required to pay Buyer daily liquidated damages (“Delay Damages”) in the amount of (i) $69,990 per day, to the extent the Capacity as of the Guaranteed Initial Delivery Date shall be less than 242 MWs (i.e., 50% of the Project Capacity (i.e., 225 MW) plus 17 MW), or (ii) to the extent the Capacity as of the Guaranteed Initial Delivery Date shall be equal to or greater than 242 MWs, but less than the Project Capacity, the amount per day equal to the product of $69,990 multiplied by a fraction, the numerator of which shall be the difference between the Project Capacity and the Capacity as of the Guaranteed Initial Delivery Date, and the denominator of which shall be the Project Capacity (“Delay Damages”). The maximum amount of Delay Damages payable by Seller shall be $38,354,520 (“Maximum Delay Damages”) and payment thereof shall be made in accordance with Section 6.1 and 6.5. If (x) the Initial Delivery Date is not achieved by the Guaranteed Initial Delivery Date solely due to delays in obtaining Permits as set forth on Schedule 3 or litigation initiated by third parties, in each case that has the direct effect of preventing Seller from reaching the Milestones set forth on Schedule 1 hereto, and (y) Seller has taken commercially reasonable steps to resolve any such permitting or litigation delay (in each case, as reasonably demonstrated to Buyer’s satisfaction), such Delay Damages shall accrue from and after the Guaranteed Initial Delivery Date in accordance with the immediately preceding paragraph, but shall not be due and payable unless Seller fails to achieve the Initial Delivery Date by the Date Certain, in which case such accrued Delay Damages that would have otherwise been immediately payable by Seller but for such exception shall be due and payable to Buyer on the Date Certain in addition to the Termination Fee described below. Any Delay Damages accrued pursuant to the previous sentence shall be secured in favor of Buyer at the time of accrual by the posting by Seller within five (5) Business Days after the Guaranteed Initial Delivery Date of either...
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Delay Damages; Termination Upon Delay 
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Related to Delay Damages; Termination Upon Delay

  • Deemed Termination upon delay Without prejudice to the provisions of Clauses 4.2 and 4.3, and subject to the provisions of Clause 9.2, the Parties expressly agree that in the event the Appointed Date does not occur, for any reason whatsoever, within a period of [180 (one hundred and eighty)] days from the Execution Date or the extended period provided in accordance with this Agreement, then all rights, privileges, claims and entitlements of the Concessionaire under or arising out of this Agreement shall be deemed to have been waived by, and to have ceased with the concurrence of the Concessionaire and the Agreement may be terminated by the non-defaulting Party. Provided, however, that in the event the delay in occurrence of the Appointed Date is for reasons attributable to the Concessionaire, the Performance Security or the Bid Security, as the case may be, of the Concessionaire shall be encashed and appropriated by the Authority as Damages thereof.

  • Default Termination a. In the event that the Property has been sold contrary to or any person bids in contravention of the provisions in Clause 4 above, then such sale shall be cancelled and become null and void and of no further effect wherein all monies paid by the Purchaser hitherto including the Deposit shall be forfeited absolutely and immediately.

  • Default Remedies Termination A. [Sec. 400]

  • Termination by CAISO Subject to Section 5.2, the CAISO may terminate this Agreement by giving written notice of termination in the event that the Participating Generator commits any material default under this Agreement and/or the CAISO Tariff which, if capable of being remedied, is not remedied within thirty (30) days after the CAISO has given, to the Participating Generator, written notice of the default, unless excused by reason of Uncontrollable Forces in accordance with Article X of this Agreement. With respect to any notice of termination given pursuant to this Section, the CAISO must file a timely notice of termination with FERC, if this Agreement was filed with FERC, or must otherwise comply with the requirements of FERC Order No. 2001 and related FERC orders. The filing of the notice of termination by the CAISO with FERC will be considered timely if: (1) the filing of the notice of termination is made after the preconditions for termination have been met, and the CAISO files the notice of termination within sixty (60) days after issuance of the notice of default; or (2) the CAISO files the notice of termination in accordance with the requirements of FERC Order No. 2001. This Agreement shall terminate upon acceptance by FERC of such a notice of termination, if filed with FERC, or thirty (30) days after the date of the CAISO’s notice of default, if terminated in accordance with the requirements of FERC Order No. 2001 and related FERC orders.

  • Termination Upon Breach Either the Corporation or the Consultant may terminate this Agreement in the event of the breach of any of the material terms or provisions of this Agreement by the other party, which breach is not cured within 10 business days after notice of the same is given to the party alleged to be in breach by the other party.

  • TERMINATION FOR CAUSE BY CITY 4.05.1 If Contractor defaults under this Agreement, the Director may terminate this Agreement after providing Contractor written notice and an opportunity to cure the default as provided below. The City’s right to terminate this Agreement for Contractor’s default is cumulative of all rights and remedies that exist now or in the future. Default by Contractor occurs if:

  • Action Upon Termination (a) From and after the effective date of termination of this Agreement, pursuant to Sections 13, 14, or 15 of this Agreement, the Manager shall not be entitled to compensation for further services under this Agreement, but shall be paid all compensation accruing to the date of termination and, if terminated pursuant to Section 13 or Section 15(b), the applicable Termination Fee. Upon such termination, the Manager shall forthwith:

  • Payment upon Termination In the event that the City or Consultant terminates this Agreement pursuant to Section 8, the City shall compensate the Consultant for all outstanding costs and reimbursable expenses incurred for work satisfactorily completed as of the date of written notice of termination. Consultant shall maintain adequate logs and timesheets in order to verify costs incurred to that date. The City shall have no obligation to compensate Consultant for work not verified by logs or timesheets.

  • Termination by You You may cancel your acceptance of this Contract by delivering notice to XOOM by way of mail, fax, e-mail or by personal delivery, in the following circumstances:

  • Termination by Xxxxx Subject to Section 5.2, the CAISO may terminate this Agreement by giving written notice of termination in the event that the Participating Load commits any material default under this Agreement and/or the CAISO Tariff which, if capable of being remedied, is not remedied within thirty (30) days after the CAISO has given, to the Participating Load, written notice of the default, unless excused by reason of Uncontrollable Forces in accordance with Article X of this Agreement. With respect to any notice of termination given pursuant to this Section, the CAISO must file a timely notice of termination with FERC, if this Agreement was filed with FERC, or must otherwise comply with the requirements of FERC Order No. 2001 and related FERC orders. The filing of the notice of termination by the CAISO with FERC will be considered timely if: (1) the filing of the notice of termination is made after the preconditions for termination have been met, and the CAISO files the notice of termination within sixty (60) days after issuance of the notice of default; or (2) the CAISO files the notice of termination in accordance with the requirements of FERC Order No. 2001. This Agreement shall terminate upon acceptance by FERC of such a notice of termination, if filed with FERC, or thirty (30) days after the date of the CAISO’s notice of default, if terminated in accordance with the requirements of FERC Order No. 2001 and related FERC orders.

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