Delay Penalty. 5.4.1 Except in cases of Force Majeure as set out in clause 6.6 or the Client’s default, the Consultant shall pay to the Client a delay penalty in the amount of two percent (2%) per week of the Fee payable to meet the Time for Completion; provided, however, that the amount of such delay penalty shall in no event exceed ten percent (10%) of the Fee.
5.4.2 The Client may, without prejudice to any other method of recovery, deduct the amount of such delay penalty from any monies due or which may become due to the Consultant.
5.4.3 The payment of such penalty shall not relieve the Consultant of the obligation to complete the Services or from any of the Consultant’s other obligations and liabilities under this Agreement.
Delay Penalty. In the event of any anticipated delay in achieving the FAT date (item j) specified in paragraph 3.2 of Annex I, due solely to the default of the Supplier, the Supplier shall be required to immediately notify the Customer that such a delay will occur. Upon such notification, the Customer shall grant a grace period of sixty (60) days to remedy the delay. If the delay has not been remedied within the grace period of sixty (60) days, the Supplier shall pay, as liquidated damages, for its default and as a penalty, the amount of zero point one five (0.15%) of the total Contract Price for each Phase per day, beginning from the thirty (30) days after the FAT date (item j), not to exceed ten percent (10%) of the total Contract Price for each Phase. The Vision Plant Inc. CONTRACT NO: LSA 20040831 Telematics Wireless Ltd. foregoing states the entire obligation of the Supplier, and the sole remedy of the Customer, with respect to the delay as mentioned above.
Delay Penalty. 39.1 The Carrier shall pay a penalty to the Customer in the event of failure to meet the deadlines specified in the STC.
39.2 The basis for the calculation of the delay penalty is the total gross carriage fee.
39.3 The amount of the penalty for each calendar day of delay is 1% of the penalty base, but at least (HUF 10,000) but shall not exceed 20% of the gross forwarding fee in accordance with the Contract.
39.4 The delay penalty becomes due on the first day of delay.
39.5 Payment of the delay penalty does not release the Carrier from its obligation to meet the deadlines specified in the STC and to the performance of the contract.
39.6 In the event the delay is such that it reaches the maximum penalty provided for in the Contract, the Customer has the right to terminate the Contract without the obligation to prove lapse of interest or, at the Customer’s discretion, to terminate the Contract and claim a penalty for failure to perform in accordance with Clause 41 of these GTC.
Delay Penalty. If the Supplier does not deliver the components in accordance with the time plan in Schedule 2, the Supplier shall pay a penalty to Lokaltog. Penalties are accrued separately for each delayed purchase order, and the penalty per calendar day per delayed delivery is set to DKK 10,000. The aggregate sum of penalties for delay shall not exceed the total sum of the agreement. If the Supplier anticipates a delay, the Supplier shall immediately notify Lokaltog and submit a correction plan, including a description of the Supplier’s mitigating actions and, if necessary, a revised milestone.
Delay Penalty. If the Contractor does not complete any of the Works on a timely manner or by the specified timeline and the Employer does not see a reason to withdraw the Works from the Contractor, the Contractor shall be subject to a penalty for the period of delay in completing the Works after the handover specified date. Such period shall be calculated on the basis of the average daily cost for the project by dividing the value of Works by the period according to the following:
Delay Penalty. 11.1. If it is apparent to the contracting party that it will be in default with the delivery or that the delivery will not be of the agreed quality, it has to inform B&B without undue delay. In such case, B&B is entitled to insist on delivery or to withdraw from the contract. Such notification does not result in exemption from the contractual penalty pursuant to the provision below. Acceptance of the delayed delivery/service does not constitute a waiver of any claims whatsoever, in particular compensation claims.
11.2. In the event of delay, the supplier has to pay a contractual penalty of 0.5% of the total order value for each week of delay or part thereof, irrespective of fault, unless another penalty has been agreed. The deadline for the penalty is 12:00 noon on the day following the agreed delivery date. B&B is furthermore free to withdraw from the order without granting a grace period, without incurring any costs. The right to claim compensation for any further damages remains unaffected.
Delay Penalty. If the Commencement Date has not occurred (or been deemed to have occur) on or before the Target Commencement Date, plus up to an additional thirty (30) days for Excused Delays, as the Target Commencement Date may have been extended for delays beyond the Target Execution Date and the Target Permit Date, and provided such delay has not been caused by Tenant, Landlord shall pay to Tenant, as liquidated damages, the sum of One Thousand Dollars ($1,000) per day, until the Commencement Date, or until this Lease is terminated pursuant to subsection (c) below, for each day the Commencement Date is delayed beyond the Target Commencement Date
Delay Penalty. In case of delay in payment of installments by the Public Agency, penalty will be charged on unpaid amount (including any other dues, charges, etc.) at 18% per annum compounded monthly.
Delay Penalty. In the event that, through no fault of Tenant and with no Tenant Delay (as defined in the Lease, this Amendment, and in Exhibit “B” attached to this Amendment), Landlord does not Substantially Complete the Landlord Work in the Expansion Premises and deliver occupancy of the Expansion Premises to Tenant within one hundred ten (110) days after the later of: (a) the date this Amendment is executed by Tenant and an executed original is forwarded to Landlord, or (b) the date Tenant approves the final plans for the Landlord Work as described in paragraph 2 of the Work Letter attached as Exhibit B , then Landlord shall credit Tenant with one (1) additional day of free Base Rent (for the Expansion Premises only) for each day of occupancy delay.
Delay Penalty. Upon any failure by a Limited Partner to pay in full when due the capital contribution to be paid by it on a Drawdown Date, interest may, in the sole and absolute discretion of the General Partner, accrue at a rate equal to twelve percent (12%) per annum on the outstanding unpaid balance of such delayed capital contribution (the “Delayed Payment Interest”), from and including the third (3rd) Business Day after the General Partner has notified such Limited Partner in writing of its failure to pay such capital contribution, until the earlier of the date of payment of such capital contribution, or such time, if any, as such Limited Partner becomes a Defaulting Partner. If such Limited Partner fails to pay any such amount when due, but pays such amount (together with any accrued interest thereon) prior to the time it becomes a Defaulting Partner, the General Partner shall reflect in the records of the Partnership the amount paid by such Partner, with such amount treated as payment first of accrued interest to the extent thereof; provided, however, that no such payment of interest shall increase such Partner’s Contribution, or reduce its Remaining Commitment.
