Liquidated Damages and Interest Sample Clauses

Liquidated Damages and Interest. It is recognized by the parties that prompt and accurate payment of contributions is essential to the maintenance of the Trust provided for in this Agreement and that it is extremely difficult, if not impracticable, to fix the actual expense and damages to the Trust that would result from the failure of the Employer to pay the required contributions when due. Therefore, if the Employer shall be delinquent in the payment of contributions to the Trust, the Employer in addition to the contributions, shall be liable for Liquidated Damages in the amount of ten percent (10%) of the amount of the contributions which are owed to the Trust Fund. In addition, the delinquent contributions shall bear interest at the rate of the prime interest rate in effect on January 1st of the calendar year in which the delinquency occurs plus two percent (2%) per annum from the due date until the contributions are paid. The Trust shall have the authority to waive all or part of the Liquidated Damages or Interest for good cause shown.
Sample 1
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Liquidated Damages and Interest. Pursuant to the Supplemental Agreement, (i) the liquidated damages of 0.01% per day on the Outstanding Consideration from the relevant date of default under the Share Transfer Agreement to the Effective Date (“Accrued Liquidated Damages”) shall be paid by the Purchaser to the Company on or before the First Batch Payment Date, by way of cash or the Target Shares. If the settlement will be made by way of the transfer of the Target Shares, the transfer price of such shares shall be the closing price of the Target Shares on the date of settlement; and (ii) with effect from the Effective Date, interest (“Balance Consideration Interest”) at the rate of 3.6% per annum will be charged on the Balance Consideration (which is the Outstanding Consideration less the First Settlement Consideration) until the date on which the Balance Consideration is fully settled, and shall be settled by way of cash and/or the Target Shares. If the settlement will be made by way of the transfer of the Target Shares, the transfer price of such shares shall be the closing price of the Target Shares on the date of settlement. For avoidance of doubt, the Purchaser shall settle all or part of the Balance Consideration, the Accrued Liquidated Damages and the Balance Consideration Interest by way of cash so that the number of Target Shares to be transferred by the Purchaser and the Transfer Party to the Company shall in any event be not more than such number of Target Shares that will result in the Company holding more than 50% of the issued shares of the Target Company or being required to consolidate the financial results of the Target Company into those of the Company.
Sample 1
Liquidated Damages and Interest. (a) It is recognized and acknowledged by all parties, including the Employers, that the prompt and accurate payment of Contributions is essential to the maintenance of an employee benefit trust fund and the benefit plans and that it would be extremely difficult, if not impossible, to fix the actual expense and damage to the Trust Fund that would result from the failure of a participating Employer to pay the required Contributions within the time period provided. Therefore, if any Employer shall be delinquent in the payment of Contributions such Employer shall be liable, in addition, for liquidated damages of twenty percent (20%) of the amount of the Contributions which are owed. In addition, the delinquent Contributions shall bear interest at the rate of eighteen percent (18%) per annum from the due date until they are paid. The Trustees shall have the authority, however, to waive all or part of the liquidated damages or interest for good cause shown and may from time to time change the applicable percentages for liquidated damages and interest, but on a uniform basis for all Employers. (b) The Trustees may adopt such additional rules and regulations to enforce the collection of delinquent Contributions and other amounts due as they deem necessary, including the adoption of special rules applicable to Employers who are repeatedly delinquent.
Sample 1

Related to Liquidated Damages and Interest

  • Liquidated Damages The Company’s obligations to pay any partial liquidated damages or other amounts owing under the Transaction Documents is a continuing obligation of the Company and shall not terminate until all unpaid partial liquidated damages and other amounts have been paid notwithstanding the fact that the instrument or security pursuant to which such partial liquidated damages or other amounts are due and payable shall have been canceled.

  • Withholding for unpaid wages and liquidated damages The FHWA or the contacting agency shall upon its own action or upon written request of an authorized representative of the Department of Labor withhold or cause to be withheld, from any moneys payable on account of work performed by the contractor or subcontractor under any such contract or any other Federal contract with the same prime contractor, or any other federally-assisted contract subject to the Contract Work Hours and Safety Standards Act, which is held by the same prime contractor, such sums as may be determined to be necessary to satisfy any liabilities of such contractor or subcontractor for unpaid wages and liquidated damages as provided in the clause set forth in paragraph (2.) of this section.

  • Payment of Liquidated Damages If you supply all or some of your milk to a third party during a Month you must, if required by DFMC, immediately pay to DFMC liquidated damages for that Month calculated as follows: $X = W cents x (Y – Z) Where: $X is the amount payable by you to DFMC for the relevant Month. If $X is a negative amount, no amount is payable by you. Y is the average monthly litres you have supplied to DFMC based on the 12 months immediately preceding the relevant Month (or in the event you have not supplied DFMC for 12 months, the average monthly litres you have supplied to DFMC during the period you have supplied DFMC). Z is the number of litres supplied to DFMC by you for the relevant Month.

  • Liquidated Damages for Delay In addition to the Contractor bearing the actual cost of correcting any non-compliant work or any other actual damages resulting from Contractor’s breach of this Agreement, the Contractor agrees to pay the Contractor delay damages in the amount of $500.00 per day for every day that the goods and/or services to be provided pursuant to this Agreement have not been timely delivered to the District in compliance with the Scope of Services set forth above, unless the delay has been properly excused by the terms of this Agreement. The parties agree that the District’s actual damages for delay are difficult to estimate and that this $500.00 per day sum is a reasonable pre-estimate of the District’s actual damages for each day of delay and that the is $500.00 per day sum is intended by the parties to be in the nature of liquidated damages, not a penalty. It is not the parties’ intent for this provision to limit either party’s remedies against the other for the breach of this Agreement, except for the District’s money damages for unexcused delays caused by the Contractor.

  • Notice of Liquidated Damages System Agency will formally notify Grantee in writing when liquidated damages action is imposed, stating the nature of the action, the reasons for imposing, and the method of appealing. Grantee must submit a written appeal, within ten (10) calendar days of receipt of the notice, to the SUD email box, XxxxxxxxxXxxxx.Xxxxxxxxx@xxxx.xxxxx.xx.xx.

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