Common use of Liquidated Damages Not Penalty Clause in Contracts

Liquidated Damages Not Penalty. It is expressly agreed that Liquidated Damages payable under this Agreement do not constitute a penalty and that the Parties, having negotiated in good faith for such specific Liquidated Damages and having agreed that the amount of such Liquidated Damages is reasonable in light of the anticipated harm caused by the breach related thereto and the difficulties of proof of loss and inconvenience or nonfeasibility of obtaining any adequate remedy, are estopped from contesting the validity or enforceability of such Liquidated Damages.

Liquidated Damages Not Penalty. It is expressly agreed that Liquidated Damages any liquidated damages payable under this Agreement do not constitute a penalty and that the Parties, having negotiated in good faith for such specific Liquidated Damages liquidated damages and having agreed that the amount of such Liquidated Damages liquidated damages is reasonable in light of the anticipated harm caused by the breach related thereto and the difficulties of proof of loss and inconvenience or nonfeasibility non-feasibility of obtaining any adequate remedy, are estopped from contesting the validity or enforceability of such Liquidated Damagesliquidated damages.