Financial Penalty Sample Clauses
A Financial Penalty clause establishes a requirement for one party to pay a specified sum of money if they breach certain terms of the agreement. Typically, this clause outlines the conditions under which the penalty is triggered, such as late delivery, non-performance, or failure to meet quality standards, and details the amount or method for calculating the penalty. Its core practical function is to deter breaches by imposing a financial consequence, thereby encouraging compliance and compensating the non-breaching party for potential losses or inconvenience.
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Financial Penalty. If Owner fails to provide the Certification by the Verification Date in accordance with Section 2, Owner agrees to pay the District the sum of Dollars ( .00) (the “Penalty Amount”, calculated per Section 6(f) of the Green Building Act, as amended (D.C. Official Code §6-1451.05(f)), as (i) $7.50 per square foot of GFA if less than 100,000 square feet; (ii) otherwise as $10.00 per square foot of GFA up to a maximum of Three Million Dollars ($3,000,000.00)), subject to adjustment in accordance with Section 5 below. Payment shall be made by Owner within five (5) business days after written notification by the District in accordance with, and to the address specified in, the District’s written notification.
Financial Penalty. 16. After careful consideration of the various factors and circumstances related to the CHD’s violation of PRC-005-1b, the Board has determined that CHD shall pay a financial penalty of ten thousand dollars ($10,000) under this Settlement Agreement.
Financial Penalty. Ks where neither spouse can get a divorce are problematic. However, this one may stick b/c there is just financial penalty for divorce. Courts are in favor of marriage. This K doesn=t preclude parties from divorce, it just provides disintentives.
Financial Penalty a. $10,000 USD to be immediately deducted from monies owed Contractor, Supplier, or Logistic Service Provider against the applicable single scope Agreement or individual Purchase Order further invoicing for anybalance up to this$10,000 amount.
b. 2% or $10,000 (whichever is greater) for annual Agreements with Contractors, Suppliers, or Logistic Service Providers. The 2% Payment amount will be calculated on the average dollars paid for thepriorthreeyears, capped at 4% in any twelve (12) month period.
Financial Penalty. Students on the Flat Fee Payment System (M.Div., MTS, MAPS, Dual Degree, DMin.) Students on the Credit Hour Payment System including DMin. prior to 2019-2020, Credit/Non- Degree, etc.)
Financial Penalty. If the stand-up electric scooter poses an immediate safety hazard, the City police department shall respond and remove or relocate the electric scooter and charge Vendor the amount of $25.00/scooter. What constitutes an immediate safety hazard shall be in the sole discretion of the City’s police department. Vendor will also be charged the amount of $250.00 the City police department has to remove stand-up electric scooters from unauthorized parking areas over ten times in one month.