Financial Consequences for Failure to Timely and Satisfactorily Perform. Failure to complete all deliverables in accordance with the requirements of this Agreement, and in particular, as specified in Section II.C., Deliverables, of Attachment 1, Scope of Work will result in assessment by DEO of the specified financial consequences. If applicable, should the Parties agree to a corrective action plan, the plan shall specify the applicable financial consequences to be applied after the effective date of the corrective action plan. This provision for financial consequences shall in no manner affect DEO’s right to terminate the Agreement as provided elsewhere in this Agreement.
Financial Consequences for Failure to Timely and Satisfactorily Perform. Contractor and DEO agree that Contractor’s failure to timely and satisfactorily perform all or a portion of the Deliverables and Tasks set forth in this Scope of Work, Sections 1.4 and Sections 1.6, in accordance with the requirements of this Contract, and in particular, as specified in this Scope of Work, Section 1.3 and Section 1.5, shall result in substantial injury to DEO; however, damages arising from such failure cannot be calculated with any degree of certainty. Consequently, Contractor and DEO agree that the Financial Consequences and Liquidated Damages set forth in this Contract, individually and cumulatively, are intended to compensate DEO for same and not intended to penalize or punish Contractor. In the event that Contractor’s performance of a Deliverable or Task is deemed unsatisfactory by DEO, Contractor shall not be entitled to payment for same until Contractor re-performs as needed for submittal of a satisfactory Deliverable or Task at no additional cost to DEO. Furthermore, in the event that Contractor’s performance of a Deliverable or Task is deemed unsatisfactory or untimely by DEO, the Financial Consequences set forth in this Scope of Work, Section 1.4 and Section 1.6, shall be imposed. Nothing in this Contract, including but not limited to this Scope of Work, Section 9.0, shall be construed to waive, hinder, or otherwise interfere with any other rights, remedies, and privileges, in law or in equity, held by DEO with respect to this Contract and Contractor’s performance hereunder, including but not limited to, XXX’s right to terminate the Contract as provided. Notwithstanding any other terms in the Contract., if Contractor’s non-compliance with any provision of the Contract results in additional cost or monetary loss to DEO or the State of Florida, DEO can recoup that cost or loss from monies owed to Contractor under this Contract or any other contract between Contractor and any State entity. In the event the discovery of this cost or loss arises when no monies are available under this Contract or any other contract between Contractor and any State entity, Contractor will repay such cost or loss in full to DEO within 30 days of the date of notice of the amount owed, unless DEO agrees, in writing, to an alternative timeframe.
Financial Consequences for Failure to Timely and Satisfactorily Perform. Failure to complete the deliverables and/or tasks in accordance with the requirements of this Agreement, and in particular, as specified above in Section 4, DELIVERABLES, will result in DEO’s assessment of the specified financial consequences. If appropriate, should the Parties agree in writing to a corrective action plan in lieu of the immediate imposition of financial consequences, the plan shall specify additional financial consequences to be applied after the effective date of the corrective action plan. This provision for financial consequences shall in no manner affect DEO’s rights under this Agreement, at law, or in equity, including but not limited to, DEO’s right to terminate this Agreement as provided elsewhere in this Agreement. Grantee’s payment of imposed financial consequences shall be in accordance with applicable provisions of this Agreement, and this Scope of Work.
Financial Consequences for Failure to Timely and Satisfactorily Perform. Violations of this Agreement or applicable licenses, or failure to provide the deliverables, may result, except as detailed above, in termination of access to awarded solutions and require immediate removal of all software, hardware, or related services. Grantee may be subject to financial assessments related to such violations. This provision for financial consequences shall not affect the Department’s right to terminate the Agreement as provided elsewhere in the Agreement. REMAINDER OF XXXX INTENTIONALLY LEFT BLANK ATTACHMENT B AUDIT REQUIREMENTS FOR AWARDS OF STATE AND FEDERAL FINANCIAL ASSISTANCE Department of Financial Services Division of Accounting and Auditing – Bureau of Auditing Audit Requirements for Awards of State and Federal Financial Assistance The administration of resources awarded by the Department of Management Services (Department) to the Grantee may be subject to audits and/or monitoring by the Department, as described in this section.
Financial Consequences for Failure to Timely and Satisfactorily Perform. Failure to complete the project in accordance with the requirements of this Contract, and in particular, as specified in Attachment 1, Section II.D, Deliverables, Tasks, Performances Measures and Financial Consequences, and Attachment 1, Section II.E, Contractor’s Responsibilities, of this Contract, will result in substantial injury to DEO and damages arising from such failure cannot be calculated with any degree of certainty. Therefore, it is hereby agreed that if the services/items are not timely and satisfactorily performed, the sanctions specified in Attachment 1, Section II.D shall be assessed against Contractor and will be deducted from the amount due Contractor for performance under the applicable invoice. In addition, if it becomes necessary for DEO to institute a corrective action plan and Contractor fails to comply with the approved corrective action plan, Contractor shall be assessed the additional financial consequences specified in the corrective action plan. This provision for financial consequences shall in no manner affect DEO’s right to terminate the Contract as provided elsewhere in DEO’s Core Contract.
Financial Consequences for Failure to Timely and Satisfactorily Perform. Failure to complete all deliverables in accordance with the requirements of this Agreement, and in particular, as specified above in Article 4, Deliverables, shall result in assessment by DEO of the specified financial consequences. If the Parties agree to a corrective action plan, the plan shall specify the applicable financial consequences to be applied after the effective date of the corrective action plan. This provision for financial consequences shall in no manner affect DEO’s right to terminate the Agreement as provided elsewhere in the Agreement.
Financial Consequences for Failure to Timely and Satisfactorily Perform. Failure to complete all deliverables in accordance with the requirements of this Agreement, and most particularly the deliverables specified above in Section D, Deliverables, will result in Commerce’s assessment of the specified financial consequences. If appropriate, should the Parties agree to a corrective action plan, the plan shall specify additional financial consequences to be applied after the effective date of the corrective action plan. This provision for financial consequences shall in no manner affect Commerce’s right to terminate the Agreement as provided elsewhere in the Agreement. - End of Attachment 1 (Scope of Work) -
Financial Consequences for Failure to Timely and Satisfactorily Perform. Violations of this Agreement or applicable licenses, or failure to provide the deliverables, may result, except as detailed above, in termination of access to awarded solutions and require immediate removal of all software, hardware, or related services. Grantee may be subject to financial assessments related to such violations. This provision for financial consequences shall not affect the Department’s right to terminate the Agreement as provided elsewhere in the Agreement. REMAINDER OF XXXX INTENTIONALLY LEFT BLANK DocuSign Envelope ID: 6F3C1537-5D52-495F-9E74-2F2E358E9F0B ATTACHMENT B AUDIT REQUIREMENTS FOR AWARDS OF STATE AND FEDERAL FINANCIAL ASSISTANCE Department of Financial Services Division of Accounting and Auditing – Bureau of Auditing Audit Requirements for Awards of State and Federal Financial Assistance The administration of resources awarded by the Department of Management Services (Department) to the Grantee may be subject to audits and/or monitoring by the Department, as described in this section.
Financial Consequences for Failure to Timely and Satisfactorily Perform. Failure to complete the deliverables and/or tasks in accordance with the requirements of this Agreement, and in particular, as specified above in Section 4, DELIVERABLES, will result in Commerce’s assessment of the specified financial consequences. If appropriate, should the Parties agree in writing to a corrective action plan in lieu of the immediate imposition of financial consequences, the plan shall specify additional financial consequences to be applied after the effective date of the corrective action plan. This provision for financial consequences shall in no manner affect Commerce’s rights under this Agreement, at law, or in equity, including but not limited to, Commerce’s right to terminate this Agreement as provided elsewhere in this Agreement. Xxxxxxx’s payment of imposed financial consequences shall be in accordance with applicable provisions of this Agreement, and this Scope of Work. The Parties acknowledge and agree that the remedies set forth in Sections 4 and 5 of this Scope of Work constitute liquidated damages and that in the event of a breach of this Scope of Work, the actual damages suffered by Commerce would be unreasonably difficult to determine and that the Parties would not have a convenient and adequate alternative to the liquidated damages set forth in Sections 4 and 5 of this Scope of Work. Each Party further acknowledges and agrees that the liquidated damages provided in Sections 4 and 5 of this Scope of Work bear a reasonable relationship to the anticipated harm that would be caused by any such breach, is a genuine pre-estimate of the damages that Commerce will suffer or incur as a result of any such breach, and is not a penalty. Grantee irrevocably waives any right that it may have to raise as a defense that any such liquidated damages are excessive or punitive. The Parties acknowledge that the provisions contained in Sections 4 and 5 of this Scope of Work are an integral part of the transactions contemplated by this Agreement and that without these provisions Commerce would not enter into this Agreement and therefore the Agreement will be treated as void ab initio if the financial consequences or liquidated damages are invalidated.
Financial Consequences for Failure to Timely and Satisfactorily Perform. Failure to complete the required duties outlined in the SOW shall result in the rejection of the invoice, and, as stated above in Section 4, Deliverables, if re-inspection is invoiced, the Department will reduce the invoice by that amount. This provision for financial consequences shall not affect the Department’s right to terminate the Agreement as provided elsewhere in the Agreement.
