Execution of Development Contract. [IF APPLICABLE] Seller shall deliver to Buyer written notice that Xxxxxx has executed the Development Contract within seventy-two (72) hours of such occurrence. If Seller has not executed the Development Contract by the Development Contract Execution Target Date, then Seller shall pay to Buyer as Liquidated Damages an amount equal to [________] Dollars ($___) [PROPOSER TO INSERT NUMBER EQUAL TO THREE HUNDRED DOLLARS ($300) MULTIPLIED
Execution of Development Contract. [IF APPLICABLE] Buyer shall prepare and submit an invoice to Seller for any Liquidated Damages amounts due and payable to Buyer from Seller pursuant to Section 3.3(ii) providing sufficient detail to show the amounts due.
Execution of Development Contract. [IF APPLICABLE] Seller shall deliver to Buyer written notice that Seller has executed the EPC Contract within seventy-two (72) hours of such occurrence. If Seller has not executed the Development Contract by the Development Contract Execution Target Date, then Seller shall pay to Buyer as Liquidated Damages an amount equal to [________] Dollars ($___) [
Execution of Development Contract. [IF APPLICABLE] Seller shall deliver to Buyer written notice that Xxxxxx has executed the Development Contract within seventy-two (72) hours of such occurrence. If Seller has not executed the Development Contract by the Development Contract Execution Target Date, then Seller shall pay to Buyer as Liquidated Damages an amount equal to [________] Dollars ($___) [PROPOSER TO INSERT NUMBER EQUAL TO THREE HUNDRED DOLLARS ($300) MULTIPLIED BY THE NUMBER OF MW OF NET DESIGN CAPACITY OF THE PROJECT] per Day for each Day of delay following the Development Contract Execution Target Date until Seller has executed the Development Contract up to a maximum amount equivalent to ninety (90) Days’ Liquidated Damages, to be paid to Buyer as set forth in Section 3.3(v). Buyer shall deposit the Liquidated Damages paid pursuant to this Section 3.3(ii) into an Escrow Account. Buyer shall maintain the deposited amount in the Escrow Account as a down payment for satisfying the COD Liquidated Damages, if any, payable pursuant to Section 3.3(iv); provided, however, that if Seller achieves the Commercial Operation Date on or before the COD Target Date, Buyer shall return to Seller any Liquidated Damages paid by Seller pursuant to this Section 3.3(ii), without interest, within thirty (30) Business Days of the Commercial Operation Date.
