Common use of Liquidated Damages for Delay in Substantial Completion Clause in Contracts

Liquidated Damages for Delay in Substantial Completion. Design-Builder acknowledges and agrees that City would be damaged by a delay in substantial completion and that such damages are uncertain and difficult to ascertain. If Design-Builder fails to achieve Substantial Completion by the Substantial Completion Date, the Parties further agree that the stipulated amount of ($ ), per day for each and every calendar day of unexcused delay in achieving Substantial Completion beyond the Scheduled Completion Date is a reasonable stipulated amount. Any sums due and payable hereunder by Design- Builder shall be payable, not as a penalty, but as Liquidated Damages representing an estimate of delay damages, estimated at the time of executing this Contract. Such Liquidated Damages shall apply regardless of whether Design-Builder has been terminated by City prior to Substantial Completion, so long as Design-Builder's actions or inactions contributed to the delay. Such Liquidated Damages shall be in addition to and not in preclusion of the recovery of actual damages resulting from other defects in Design-Builder's performance hereunder for matters other than delays in performing the Work, including achieving Substantial Completion. When City reasonably believes that Substantial Completion will be inexcusably delayed, City shall be entitled but not required to withhold from any amounts otherwise due to Design-Builder an amount then believed by City to be adequate to recover Liquidated Damages applicable to such delays. If and when Design-Builder overcomes the delay in achieving Substantial Completion, or any part thereof, for which City has withheld payment, City shall promptly release to Design-Builder those funds withheld, but no longer applicable as Liquidated Damages. In the event Design-Builder fails to meet the established or revised date for Substantial Completion for the Project, beginning on the next pay application submitted to City, Design-Builder shall include a specific line item on each subsequently submitted pay application, following the date established for Substantial Completion, deduction the Liquidated Damages accrued each month from the amount due Design-Builder for Work performed until Design- Builder is granted Substantial Completion on the Project. Any claim by City for consequential damages resulting from a delay in substantial completion shall be only for damages incurred by City in excess of the amount of Liquidated Damages paid by Design-Builder for such delay in substantial completion pursuant to this Contract.

Liquidated Damages for Delay in Substantial Completion. Design-/Builder acknowledges and agrees that City would be damaged by a delay in substantial completion and that such damages are uncertain and difficult to ascertain. If Design-Builder fails to achieve Substantial Completion by shall pay Owner the Substantial Completion Date, the Parties further agree that the stipulated amount sum of ---No-- Dollars ($ ), $0.00) per day for each and every calendar day of unexcused delay in achieving Substantial Completion beyond the Scheduled Completion Date is a reasonable stipulated amountDate. Any sums due and payable hereunder by Design- Design/Builder shall be payable, not as a penalty, but as Liquidated Damages liquidated damages representing an estimate of delay damagesdamages likely to be sustained by Owner, estimated at the time of executing this ContractAgreement. Such Liquidated Damages liquidated damages shall apply regardless of whether Design-/Builder has been terminated by City Owner prior to Substantial Completion, Completion so long as Design-/Builder's actions or inactions contributed to the delay. Such Liquidated Damages liquidated damages shall be in addition to and not in preclusion of the recovery of actual damages resulting from other defects in Design-/Builder's performance hereunder for matters other than delays in performing the Work, including achieving Substantial Completion. When City Owner reasonably believes that Substantial Completion will be inexcusably unexcusably delayed, City Owner shall be entitled entitled, but not required required, to withhold from any amounts otherwise due to Design-/Builder an amount then believed by City Owner to be adequate to recover Liquidated Damages liquidated damages applicable to such delays. If and when Design-/Builder overcomes the delay in achieving Substantial Completion, or any part thereof, for which City Owner has withheld payment, City Owner shall promptly release to Design-/Builder those funds withheld, but no longer applicable as Liquidated Damages. In the event Design-Builder fails to meet the established or revised date for Substantial Completion for the Project, beginning on the next pay application submitted to City, Design-Builder shall include a specific line item on each subsequently submitted pay application, following the date established for Substantial Completion, deduction the Liquidated Damages accrued each month from the amount due Design-Builder for Work performed until Design- Builder is granted Substantial Completion on the Project. Any claim by City for consequential damages resulting from a delay in substantial completion shall be only for damages incurred by City in excess of the amount of Liquidated Damages paid by Design-Builder for such delay in substantial completion pursuant to this Contractliquidated damages.

Liquidated Damages for Delay in Substantial Completion. Design-Builder acknowledges and agrees that City would be damaged by a delay Subject to extension for force majeure as provided in substantial completion and that such damages are uncertain and difficult to ascertain. If Design-Builder fails to achieve Substantial Completion by this Agreement, Professional/Contractor shall pay Corporation the Substantial Completion Date, the Parties further agree that the stipulated amount sum of FOUR HUNDRED AND NO/100 Dollars ($ ), $400.00) per day for each and every calendar day of unexcused delay in achieving Substantial Completion beyond the Scheduled Completion Date is a reasonable stipulated amountDate. Any sums due and payable hereunder by Design- Builder Professional/Contractor shall be payable, not as a penalty, but as Liquidated Damages liquidated damages representing an estimate of delay damagesdamages likely to be sustained by Corporation, estimated at the time of executing this ContractAgreement. Such Liquidated Damages liquidated damages shall apply regardless of whether Design-Builder Professional/Contractor has been terminated by City Corporation prior to Substantial Completion, Completion so long as Design-BuilderProfessional/Contractor's actions or inactions contributed to the delay. Such Liquidated Damages liquidated damages shall be in addition to to, and not in preclusion of of, the recovery of actual damages resulting from other defects in Design-BuilderProfessional/Contractor's performance hereunder for matters other than delays in performing the Work, including achieving Substantial Completion. When City Corporation reasonably believes that Substantial Completion will be inexcusably delayed, City Corporation shall be entitled entitled, but not required required, to withhold from any amounts otherwise due to Design-Builder Professional/Contractor an amount then believed by City Corporation to be adequate to recover Liquidated Damages liquidated damages applicable to such delays. If and when Design-Builder Professional/Contractor overcomes the delay in achieving Substantial Completion, or any part thereof, for which City Corporation has withheld payment, City Corporation shall promptly release to Design-Builder Professional/Contractor those funds withheld, but no longer applicable as Liquidated Damages. In the event Design-Builder fails to meet the established or revised date for Substantial Completion for the Project, beginning on the next pay application submitted to City, Design-Builder shall include a specific line item on each subsequently submitted pay application, following the date established for Substantial Completion, deduction the Liquidated Damages accrued each month from the amount due Design-Builder for Work performed until Design- Builder is granted Substantial Completion on the Project. Any claim by City for consequential damages resulting from a delay in substantial completion shall be only for damages incurred by City in excess of the amount of Liquidated Damages paid by Design-Builder for such delay in substantial completion pursuant to this Contractliquidated damages.

Liquidated Damages for Delay in Substantial Completion. Design-Builder Landlord acknowledges that, if the Substantial Completion Date is delayed beyond the “Scheduled Completion Date” of July 1, 2007 or such alternative Scheduled Completion Date as the Landlord and agrees that City would be damaged Tenant may agree upon in writing in the final approved Project Schedule or in a Change Order executed in accordance with this Improvement Agreement, for reasons other than a Force Majeure Delay or a Tenant Delay, Tenant will incur costs not compensated by a the mere delay in substantial completion the Commencement Date for the payment of Rent under the Lease caused thereby and that the exact amount of such damages are uncertain and costs will be extremely difficult to ascertain. If Design-Builder fails Accordingly, if such a delay occurs, then, in addition to achieve Substantial Completion by Tenant’s other rights and remedies, upon Commencement of the Lease, then, in addition to the delay in commencement of Rent under the Lease due to the delay in the Commencement Date, Landlord shall waive additional Tenant’s Base Rent equal to the corresponding number of days of delay in the Substantial Completion Date, of the Parties further agree that the stipulated amount of ($ ), per day for each and every calendar day of unexcused delay in achieving Substantial Completion Work beyond the Scheduled Completion Date (as the same may be so adjusted) times the per diem Base Monthly Rent payable for the first month of the Lease term, to the extent such delay is not due to Force Majeure or Tenant Delay. The parties agree that such amount represents a fair and reasonable stipulated amount. Any sums due and payable hereunder by Design- Builder shall be payable, not as a penalty, but as Liquidated Damages representing an estimate of delay damages, estimated at the time of executing this Contract. Such Liquidated Damages shall apply regardless of whether Design-Builder has been terminated cost Tenant will incur by City prior to Substantial Completion, so long as Design-Builder's actions or inactions contributed to the delay. Such Liquidated Damages shall be in addition to and not in preclusion reason of the recovery late completion of actual damages resulting from other defects in Design-Builder's performance hereunder for matters other than delays in performing the Work, including achieving Substantial Completion. When City reasonably believes that Substantial Completion will be inexcusably delayed, City shall be entitled but not required to withhold from any amounts otherwise due to Design-Builder an amount then believed by City work to be adequate performed under the Improvement Agreement and that such costs are difficult to recover Liquidated Damages applicable to such delaysestimate at this time. If and when Design-Builder overcomes Notwithstanding the foregoing, acceptance of liquidated damages for delay in achieving Substantial Completion, by Tenant shall not constitute a waiver of Landlord’s breach of any provision of this Improvement Agreement or any part thereof, for which City has withheld payment, City shall promptly release to Design-Builder those funds withheld, but no longer applicable as Liquidated Damages. In the event Design-Builder fails to meet the established or revised date for Substantial Completion for the Project, beginning on the next pay application submitted to City, Design-Builder shall include a specific line item on each subsequently submitted pay application, following the date established for Substantial Completion, deduction the Liquidated Damages accrued each month from the amount due Design-Builder for Work performed until Design- Builder is granted Substantial Completion on the Project. Any claim by City for consequential damages resulting from a delay in substantial completion shall be only for damages incurred by City in excess of the amount of Liquidated Damages paid by Design-Builder for such delay in substantial completion pursuant to this ContractLease.

Liquidated Damages for Delay in Substantial Completion. Design-Builder Landlord acknowledges that, if the Substantial Completion Date is delayed beyond the “Scheduled Completion Date” as defined in the Project Schedule, or such alternative Scheduled Completion Date as the Landlord and agrees that City would be damaged Tenant may agree upon in writing in the final approved Project Schedule or in a Change Order executed in accordance with this Improvement Agreement, for reasons other than a Force Majeure Delay or a Tenant Delay, Tenant will incur costs not compensated by a the mere delay in substantial completion the Commencement Date for the payment of Rent under the Lease caused thereby and that the exact amount of such damages are uncertain and costs will be extremely difficult to ascertain. If Design-Builder fails Accordingly, if such a delay occurs, then, in addition to achieve Substantial Completion by Tenant’s other rights and remedies, upon Commencement of the Lease, then, in addition to the delay in commencement of Rent under the Lease due to the delay in the Commencement Date, Landlord shall waive additional Tenant’s Base Rent equal to the corresponding number of days of delay in the Substantial Completion Date, of the Parties further agree that the stipulated amount of ($ ), per day for each and every calendar day of unexcused delay in achieving Substantial Completion Work beyond the Scheduled Completion Date (as the same may be so adjusted) times the per diem Base Monthly Rent payable for the first month of the Lease term, to the extent such delay is not due to Force Majeure or Tenant Delay. The parties agree that such amount represents a fair and reasonable stipulated amount. Any sums due and payable hereunder by Design- Builder shall be payable, not as a penalty, but as Liquidated Damages representing an estimate of delay damages, estimated at the time of executing this Contract. Such Liquidated Damages shall apply regardless of whether Design-Builder has been terminated cost Tenant will incur by City prior to Substantial Completion, so long as Design-Builder's actions or inactions contributed to the delay. Such Liquidated Damages shall be in addition to and not in preclusion reason of the recovery late completion of actual damages resulting from other defects in Design-Builder's performance hereunder for matters other than delays in performing the Work, including achieving Substantial Completion. When City reasonably believes that Substantial Completion will be inexcusably delayed, City shall be entitled but not required to withhold from any amounts otherwise due to Design-Builder an amount then believed by City work to be adequate performed under the Improvement Agreement and that such costs are difficult to recover Liquidated Damages applicable to such delaysestimate at this time. If and when Design-Builder overcomes Notwithstanding the foregoing, acceptance of liquidated damages for delay in achieving Substantial Completion, by Tenant shall not constitute a waiver of Landlord’s breach of any provision of this Improvement Agreement or any part thereof, for which City has withheld payment, City shall promptly release to Design-Builder those funds withheld, but no longer applicable as Liquidated Damages. In the event Design-Builder fails to meet the established or revised date for Substantial Completion for the Project, beginning on the next pay application submitted to City, Design-Builder shall include a specific line item on each subsequently submitted pay application, following the date established for Substantial Completion, deduction the Liquidated Damages accrued each month from the amount due Design-Builder for Work performed until Design- Builder is granted Substantial Completion on the Project. Any claim by City for consequential damages resulting from a delay in substantial completion shall be only for damages incurred by City in excess of the amount of Liquidated Damages paid by Design-Builder for such delay in substantial completion pursuant to this ContractLease.