LIQUIDATED DAMAGES FOR CERTAIN BREACHES Sample Clauses

LIQUIDATED DAMAGES FOR CERTAIN BREACHES. Concessionaire and Authority recognize that time is of the essence of this agreement and that Concessionaire’s failure to complete its Build-out and open all Units on time, evidence expenditure of the minimum required amounts on initial Build-out or Mid-term Refurbishment of the Units, maintain the minimum required operating hours, comply with the reasonable pricing policy, or correct safety or cleanliness problems in a timely fashion, will cause inconvenience to the public, adversely affect the operation of the Airport, and result in lost sales by the Concessionaire and thus a loss of percentage “Concession Fee” revenue to the Authority. The exact amount of lost sales and resulting damages that would actually be caused to the Authority cannot be readily ascertained. Accordingly, instead of litigating the amount of such actual damages, Authority and Concessionaire agree that the liquidated damages set forth below are reasonable forecasts of the actual damages that would be so incurred by the Authority for the specific breaches listed below, and Concessionaire agrees to pay to the Authority, as liquidated damages (and not as a penalty) the amounts specified below, upon the occurrence of the specified breach and demand by the Authority, if such breach is not cured to the Authority’s satisfaction within twenty (20) days after the Authority gives Concessionaire notice of the breach, or, if any such breach (other than the payment of money) is not curable within twenty (20) days, Concessionaire fails to demonstrate to the Authority within said twenty (20) day period that it has commenced curing the breach, or Concessionaire fails to diligently pursue the cure of such breach to completion: (1) Liquidated damages for Concessionaire’s failure to complete its Build-out, obtain a certificate of occupancy, and open any Concession Unit for business by its DBO will calculated at the rate of 50 cents per square foot per day of delay. (2) Liquidated damages for Concessionaire’s failure to provide satisfactory evidence to the Authority of Concessionaire’s expenditure of at least $700 per square foot for food and beverage concessions and $350 per square foot for retail concessions, for its Build- out of any Unit (as required by Section 5.3 above) within the later of: (a) 120 days of the Unit’s Date of Beneficial Occupancy (as defined in Section 4.2 above); or (b) if Concessionaire has submitted evidence of such expenditures and the Authority deems such evidence to be incomp...
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LIQUIDATED DAMAGES FOR CERTAIN BREACHES. (a) Each of the Parties hereto acknowledges and agrees that the primary purpose of this Agreement is to permit the Parties to collectively exercise control or influence over the Company, its management, and its business and operations. The Parties agree that the ability to collectively exercise control constitutes a right with significant economic value, which value the Parties further agree is equal to approximately thirty percent (30%) of the value of the Investment Securities held by the Shareholders from time to time. This value has been arrived at based on the Parties' knowledge of the Korean capital markets and further is consistent with Article 63 of the Inheritance and Gift Tax Law of Korea which recognizes a thirty percent (30%) control premium for the purposes of taxation. (b) The Parties further acknowledge and agree that the provisions of Article 2 (Transfer Restrictions; Pre-emptive Rights) and Article 3 (Governance) and Section
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Related to LIQUIDATED DAMAGES FOR CERTAIN BREACHES

  • 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.

  • 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.

  • Delay Liquidated Damages Delay Liquidated Damages has the meaning set out in GC 7.6.1.

  • 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.

  • Violation; liability for unpaid wages; liquidated damages In the event of any violation of the clause set forth in paragraph (1.) of this section, the contractor and any subcontractor responsible therefor shall be liable for the unpaid wages. In addition, such contractor and subcontractor shall be liable to the United States (in the case of work done under contract for the District of Columbia or a territory, to such District or to such territory), for liquidated damages. Such liquidated damages shall be computed with respect to each individual laborer or mechanic, including watchmen and guards, employed in violation of the clause set forth in paragraph (1.) of this section, in the sum of $10 for each calendar day on which such individual was required or permitted to work in excess of the standard workweek of forty hours without payment of the overtime wages required by the clause set forth in paragraph (1.) of this section.

  • Breach of Contract and Liquidated Damages A. Where OGS determines that the Contractor is not in compliance with the requirements of subsection 4.7 of this Contract, and the Contractor refuses to comply with such requirements, or if it is found to have willfully and intentionally failed to comply with the MWBE participation goals set forth in the Contract, the Contractor shall be obligated to pay liquidated damages to OGS. B. Such liquidated damages shall be calculated as an amount equaling the difference between: 1. All sums identified for payment to MWBEs had the Contractor achieved the contractual MWBE goals; and 2. All sums actually paid to MWBEs for work performed or materials supplied under the Contract. C. If OGS determines that Contractor is liable for liquidated damages and such identified sums have not been withheld by OGS, Contractor shall pay such liquidated damages to OGS within sixty (60) days after they are assessed. Provided, however, that if the Contractor has filed a complaint with the Director of the Division of Minority and Women’s Business Development pursuant to 5 NYCRR § 142.12, liquidated damages shall be payable only in the event of a determination adverse to the Contractor following the complaint process.

  • 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.

  • 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.

  • Damages for delay Subject to the provisions of Clause 12.4, if COD does not occur prior to the 91st day after the Scheduled Completion Date, unless the delay is on account of reasons solely attributable to the Authority or due to Force Majeure, the Concessionaire shall pay Damages to the Authority in a sum calculated at the rate of 0.1% (zero point one per cent) of the amount of Performance Security for delay of each day until COD is achieved.

  • CONTRACT TIME AND LIQUIDATED DAMAGES (7-1-95) (Rev. 12-18-07) 108 SP1 G10 A The date of availability for this contract is April 25, 2016. The completion date for this contract is October 15, 2017. Except where otherwise provided by the contract, observation periods required by the contract will not be a part of the work to be completed by the completion date and/or intermediate contract times stated in the contract. The acceptable completion of the observation periods that extend beyond the final completion date shall be a part of the work covered by the performance and payment bonds. The liquidated damages for this contract are Two Thousand Dollars ($ 2,000.00) per calendar day.

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