Common use of Liquidated Damages for Asset Condition Score Clause in Contracts

Liquidated Damages for Asset Condition Score. 12.4.2.1 Maintenance Contractor acknowledges and agrees that because of the unique nature of the Project, the fact that it is an essential part of the Texas highway system, and the fact that inconvenience to the traveling public will be one of the significant impacts of any failure by Maintenance Contractor to perform the Maintenance Services in an efficient and timely manner and properly maintain the facility, it is impracticable and extremely difficult to ascertain and determine the actual Losses which would accrue to TxDOT and the public in the event of such failure. Consequently, Maintenance Contractor agrees to pay TxDOT the following sums of money as deemed compensation to TxDOT resulting from Maintenance Contractor’s failure to meet the performance requirements herein as evidenced by the Asset Condition Score. Maintenance Contractor further acknowledges and agrees that such amounts are in the nature of liquidated damages and not a penalty and that such sums are reasonable under the circumstances existing as of the Effective Date. 12.4.2.2 Maintenance Contractor shall pay to TxDOT a liquidated amount (a) $42,170 for each Element Category identified in Attachment 1 to Exhibit 2 that achieves a quarterly Asset Condition Score of less than 3.5 and more than 2.0. (b) $50,960 for each Element Category identified in Attachment 1 to Exhibit 2 that achieves a quarterly Asset Condition Score that is less than or equal to 2.0 and greater than 1.0. (c) $72,900 for each Element Category identified in Attachment 1 to Exhibit 2 that achieves a quarterly Asset Condition Score of less than 1.0. 12.4.2.3 Maintenance Contractor shall pay to TxDOT a liquidated amount

Liquidated Damages for Asset Condition Score. 12.4.2.1 12.4.1.1 Maintenance Contractor acknowledges and agrees that because of the unique nature of the Project, the fact that it is an essential part of the Texas highway system, and the fact that inconvenience to the traveling public will be one of the significant impacts of any failure by Maintenance Contractor to perform the Maintenance Services in an efficient and timely manner and properly maintain the facility, it is impracticable and extremely difficult to ascertain and determine the actual Losses which would accrue to TxDOT and the public in the event of such failure. Consequently, Maintenance Contractor agrees to pay TxDOT the following sums of money as deemed compensation to TxDOT resulting from Maintenance Contractor’s failure to meet the performance requirements herein as evidenced by the Asset Condition Score. Maintenance Contractor further acknowledges and agrees that such amounts are in the nature of liquidated damages and not a penalty and that such sums are reasonable under the circumstances existing as of the Effective Date. 12.4.2.2 12.4.1.2 Maintenance Contractor shall pay to TxDOT a liquidated amount (a) $42,170 28,000 for each Element Category identified in Attachment 1 to Exhibit 2 that achieves a quarterly Asset Condition Score of less than 3.5 and more than 2.0. . (b) $50,960 37,000 for each Element Category identified in Attachment 1 to Exhibit 2 that achieves a quarterly Asset Condition Score that is less than or equal to 2.0 and greater than 1.0. (c) $72,900 for each Element Category identified in Attachment 1 to Exhibit 2 that achieves a quarterly Asset Condition Score of less than 1.0. 12.4.2.3 Maintenance Contractor shall pay to TxDOT a liquidated amount

Liquidated Damages for Asset Condition Score. 12.4.2.1 Maintenance Contractor acknowledges and agrees that because of the unique nature of the Project, the fact that it is an essential part of the Texas highway system, and the fact that inconvenience to the traveling public will be one of the significant impacts of any failure by Maintenance Contractor to perform the Maintenance Services in an efficient and timely manner and properly maintain the facility, it is impracticable and extremely difficult to ascertain and determine the actual Losses which would accrue to TxDOT and the public in the event of such failure. Consequently, Maintenance Contractor agrees to pay TxDOT the following sums of money as deemed compensation to TxDOT resulting from Maintenance Contractor’s failure to meet the performance requirements herein as evidenced by the Asset Condition Score. Maintenance Contractor further acknowledges and agrees that such amounts are in the nature of liquidated damages and not a penalty and that such sums are reasonable under the circumstances existing as of the Effective Date. 12.4.2.2 Maintenance Contractor shall pay to TxDOT a liquidated amount (a) $42,170 33,700 for each Element Category identified in Attachment 1 to Exhibit 2 that achieves a quarterly Asset Condition Score of less than 3.5 and more than 2.0. (b) $50,960 48,800 for each Element Category identified in Attachment 1 to Exhibit 2 that achieves a quarterly Asset Condition Score that is less than or equal to 2.0 and greater than 1.0. (c) $72,900 72,800 for each Element Category identified in Attachment 1 to Exhibit 2 that achieves a quarterly Asset Condition Score of less than 1.0.. of: 12.4.2.3 Maintenance Contractor shall pay to TxDOT a liquidated amount