Delay Liquidated Damages and Bonus. (a) Subject to Clause 7.11(b), if the Concessionaire fails to complete the work corresponding to any Payment Milestone by the relevant Scheduled Payment Milestone Completion Date or fails to complete the construction of the Facilities by the Scheduled Construction Completion Date, then the Jal Xxxxx shall be entitled to liquidated damages for each day of delay beyond the Scheduled Payment Milestone Completion Date, or, as the case may be, the Scheduled Construction Completion Date, at the rate of 0.1% of the Jagjeetpur Performance Security (in case of a delay in achieving a Jagjeetpur Payment Milestone or completing the Jagjeetpur Facilities by the Scheduled Construction Completion Date) and/or at the rate of 0.1% of the Sarai Performance Security (in case of a delay in achieving a Sarai Payment Milestone or completing the Sarai Facilities by the Scheduled Construction Completion Date) for each day of delay up to 6 months from the relevant Scheduled Payment Milestone Completion Date, or, as the case may be, the Scheduled Construction Completion Date (collectively, the Delay Liquidated Damages). The Delay Liquidated Damages will be payable until the work for the relevant Payment Milestone is completed or, as the case may be, the construction of the Facilities is completed, as certified by the Jal Xxxxx in accordance with Clause 7.13. If the Concessionaire completes the construction of the Facilities by the Scheduled Construction Completion Date, the aggregate Delay Liquidated Damages recovered by the Jal Xxxxx under this Clause 7.12(a) for a delay in achieving any Payment Milestone shall be refunded by the Jal Xxxxx to the Concessionaire, without any interest. Provided that, if the Concessionaire completes the construction of only one Facility (and not both the Facilities) by the Scheduled Construction Completion Date, then the Jal Xxxxx shall only refund the Delay Liquidated Damages recovered by the Jal Xxxxx under this Clause 7.12(a) for the Facility that is completed by the Scheduled Construction Completion Date.
Delay Liquidated Damages and Bonus. 4.6.1 The Parties agree that it would be extremely difficult and impracticable under the presently known and anticipated facts and circumstances to ascertain and fix the actual damages that Company would incur should Contractor fail to achieve Substantial Completion by the Guaranteed Substantial Completion Date, and accordingly, the Parties hereby agree that if Contractor fails to so achieve Substantial Completion by the Guaranteed Substantial Completion Date, then Company shall be entitled to recover from Contractor as liquidated damages for such delay, and not as a penalty, the amounts set forth in Section 1 of Exhibit K (“Delay Liquidated Damages”). The Delay Liquidated Damages are, subject to Section 4.10 and Article 19, Company’s sole and exclusive remedy in the event Contractor fails to achieve any of the milestones for the Facility, including Substantial Completion, by the dates set forth in the Schedule. Company and Contractor further agree that the Delay Liquidated Damages are a good faith estimate of the damages Company would suffer.
Delay Liquidated Damages and Bonus. (a) Subject to Clause 7.11(b), if the Concessionaire fails to complete the: (i) work corresponding to any Payment Milestone by the Scheduled Payment Milestone Completion Date; or (ii) construction of the Mirzapur Facilities by the Scheduled Mirzapur Construction Completion Date, then the Jal Xxxxx shall be entitled to liquidated damages for each day of delay beyond the Scheduled Payment Milestone Completion Date, the Scheduled Mirzapur Construction Completion Date, as the case may be, at the rate of 0.1% of the relevant Performance Security for each day of delay up to 6 months from the relevant Scheduled Payment Milestone Completion Date, the Scheduled Mirzapur Construction Completion Date, as the case may be (the Delay Liquidated Damages). If the Concessionaire fails to: (a) complete the work corresponding to a Mirzapur Payment Milestone by the relevant Scheduled Payment Milestone Completion Dates; or (b) achieve the Mirzapur Construction Completion Date by the Scheduled Mirzapur Construction Completion Date, then, the Concessionaire shall be liable to pay separate Delay Liquidated Damages for the delay in completion of the Mirzapur Facilities. The Delay Liquidated Damages will be payable until the work for the relevant Payment Milestone is completed or as the case may be, the construction/rehabilitation of the Mirzapur Facilities is completed, as certified by the Jal Xxxxx in accordance with Clause 7.13. If the Concessionaire completes the construction and rehabilitation of the Mirzapur Facilities by the Scheduled Construction Completion Date, the Delay Liquidated Damages recovered by the Jal Xxxxx under this Clause 7.12(a) for a delay in achieving any Mirzapur Payment Milestone shall be refunded by the Jal Xxxxx to the Concessionaire, without any interest.
