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. 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.
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.
Delay Penalty. The penalty in the occurrence of any Delay as determined in Clause 19.2. Delivery Date: the date for delivering Parts to SODECIA, as noted on the Releases. Forecasts: a non-binding statement regarding projected quantities for the months following the month in progress. GC: the General Conditions in this Agreement. IMDS: International Material Data System – computer system for entering Parts’ data. Incoterms: the terms and sale conditions published by the International Chamber of Commerce. IP Penalty: the penalty referred to in GC 17.13. NDA: the Non-Disclosure Agreement executed by and between the Parties on Sodecia Supplier Portal. Parts: the Parts identified in the SC and/or Releases. Parts Specifications: the engineering definition, mathematical model release, dimensions and tolerance release for the Parts, detailed in the SC. Party or Parties: either one of the entities in the Agreement, individually or together. PPAP: Production Part Approval Process – the set of rules to which the production and delivery of Parts are subject, to be complied by the Supplier and subject to approval by XXXXXXX. Release or Releases: the notification(s) by SODECIA to the SUPPLIER indicating the Parts, quantities to be supplied, from time to time, Delivery Dates and/or Forecasts. A Release incorporates the GC. Request for Quotation: a solicitation to a supplier to provide a cost quote for certain Parts for a specific programme. SC: the Special Conditions in the Agreement.
Delay Penalty. First: 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. If the Supplier does not deliver the deliverables in accordance with the time plan in Schedule 2, the Supplier shall pay a penalty to Lokaltog. Penalties are accrued separately for each delayed set of deliverables per trainset, 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. In the event the Term Commencement Date has not occurred (or been deemed to have occurred pursuant to Section 5.2(iii) of this Lease) on or before the Target Completion Date, plus up to an additional thirty (30) days for Force Majeure Delays, Landlord shall pay to Tenant, as liquidated damages, the sum of One Thousand Dollars ($1,000) per day until the earlier to occur of (i) the date three (3) months thereafter, or (ii) the Term Commencement Date and, thereafter, if the Term Commencement Date has not yet occurred, the sum of Five Thousand Dollars ($5,000) per day for each day after such three (3) month period until the Term Commencement Date or this Lease is otherwise terminated.
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 the event that the Company fails to make a payment to the Bank under this agreement, the Company shall pay the delay penalty at the rate of 14% of such payment amount per annum (daily interest shall be calculated on the basis of a 365-day year) to the Bank.
Delay Penalty. If the Company does not repay the entire Principal Amount, all accrued and unpaid interest due on or before the New Maturity Date, then the Company will, in addition to the Interest Rate, pay an additional 2% (annualized) for each 30 day period all or any portion of the Principal, delay penalties or accrued interest remain unpaid, subject to a maximum aggregate interest rate of 20% (the sum of the Interest Rate plus 2% for each 30 day delay period), with such 2% being calculated on the full Principal Amount regardless of whether any portion thereof has been repaid by the Company and such full amount accruing as of the day following the New Maturity Date and then upon each 30 day anniversary of the New Maturity Date. The Company acknowledges and understands: (i) failure to satisfy the Notes in full at the New Maturity is an Event of Default and (ii) the default penalties provided in this Section 5 are not to be considered a waiver of such Event of Default. The Notes shall only be deemed “fully satisfied” when the full Principal Amount, all accrued and unpaid interest and penalties under this Section 5 have been paid in full.
