Common use of Limitation on Liquidated Damages Clause in Contracts

Limitation on Liquidated Damages. Contractor’s liability to Concessionaire under this Agreement for Late Completion Payments and Additional Contractor Delay Payments shall not exceed an amount equal to forty percent (40%) of the Contract Sum. This Section 7.6 shall not be construed to limit Contractor’s other obligations or liabilities arising under or in connection with this Agreement.

Limitation on Liquidated Damages. Contractor’s liability to Concessionaire under this Agreement for Late Substantial Completion Payments and Additional Contractor Delay Payments shall not exceed an amount equal to forty percent the product of (40%x) the sum of the Contract Sumapplicable Concessionaire Delay Damages Rate plus $14,000, multiplied by (y) 365. This Section 7.6 shall not be construed to limit Contractor’s other obligations or liabilities arising under or in connection with this Agreement.