LIQUIDATED DAMAGES PROVISION Sample Clauses

LIQUIDATED DAMAGES PROVISION. If the transaction described in this Contract fails to close strictly in accordance with the terms of said Contract because of the failure or default of Buyer in the performance of Buyer’s obligation in accordance with said Contract, the Buyer’s xxxxxxx money deposit and any additional deposits shall be delivered to or retained by Seller as Seller’s sole remedy and right to damages. Seller shall notify any Title Company, Escrow Agent or Broker which may be holding any such xxxxxxx money or additional deposits in writing of such failure or default by Buyer and the person holding such funds shall act without any further instruction by any party and is hereby irrevocably instructed to act on such notice or request and shall deliver the xxxxxxx money deposit and any additional deposits to Seller without any further notice or consent from Buyer. The parties agree that Xxxxxx’s actual damages, in the event of the default of Buyer, would be difficult or impossible to determine. Therefore, said deposit has been agreed upon after negotiations, as the parties’ best estimate of Seller’s actual damages.
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LIQUIDATED DAMAGES PROVISION. Upon termination of the Contract by Seller in accordance with Section 13 hereof, Seller shall notify in writing the title company, escrow agent or broker holding any Monies of such termination and upon receipt of such notice, the person holding the Monies shall, without any further instruction by or notice to any party, deliver the Monies to Seller. The parties agree in the event of the default or breach by Buyer, that Seller’s actual damages would be difficult or impossible to determine. Therefore, the parties agree that the Monies represent the best estimate of Seller’s actual damages.
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LIQUIDATED DAMAGES PROVISION. If, (1) during the term of this Agreement and (2) after receipt of a provisional license from the CCC and (3) prior to making MDO sales or deliveries from the Property, the Company seeks to relocate or transfer the CCC license obtained utilizing this Agreement to another jurisdiction then upon receipt of permission for the CCC to transfer the Company’s license to another jurisdiction the Company shall pay Easthampton in additional to any other payments required under this Agreement amount of $25,000.00 as liquidated damages. The forgoing shall constitute liquidated damages and not penalties and are in addition to all other rights contained in this Agreement. The Parties further acknowledge that (i) the amount of loss or damages likely to be incurred by Easthampton is incapable or is difficult to precisely estimate, (ii) the amounts specified in such subsections bear a reasonable relationship to, and are not plainly or grossly disproportionate to, the probable loss likely to be incurred by Easthampton in connection with the failure by the Company to remain in Easthampton during the term of this Agreement, (iii) one of the reasons the Company and Easthampton reached an agreement as to such amounts was the uncertainty and cost of litigation regarding the question of actual damages or loss.
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LIQUIDATED DAMAGES PROVISION. Should an instructional staff member resign at a time other than that of contract renewal (i.e., by the contract return date as stated on the contract), board approval will be required to dissolve the contract. Board approval does not constitute mutual agreement to terminate the contract unless a provision in (1)(a)-(b) below is applicable and the Board approves the resignation request. (1) If a resignation is tendered by a teacher for any reason and after the teacher has signed a contract for the ensuing school year, the board may accept the resignation of a professional staff member provided: a. The letter of resignation is submitted to the Board President, Superintendent, or Business Manager and accompanied by a cashier's check which will be retained by the board as liquidated damages if the resignation is approved. Liquidated damages are as follows if the letter of resignation is received: (i) On or before June 1st, $500.00; (ii) Between June 1st and June 30th, inclusive, $1,000.00; (iii) Between July 1st and July 31st, inclusive, $1,500.00; (iv) Between August 1st and the day prior to the teacher's first day of contractual responsibilities for the school year, inclusive, $2,000.00; (v) $3,000.00 on and after the first day of the teacher's contractual duties for the subsequent school year. b. The Boards' final decision under (2) (a) will be based on what, in their judgment, is in the best interest of the district. Criteria for resignation acceptance may include, but is not limited to, time of request, availability of a replacement, and reason for request.
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LIQUIDATED DAMAGES PROVISION. SELLER AND BUYER AGREE THAT PAYMENT OF THE DEPOSIT TO SELLER UNDER SECTION 14.1 SHALL BE AS LIQUIDATED DAMAGES AND NOT AS A PENALTY, THAT ACTUAL DAMAGES RESULTING TO SELLER FROM BUYER'S BREACH OF THIS AGREEMENT WOULD BE DIFFICULT OR IMPOSSIBLE TO MEASURE BECAUSE OF THE UNCERTAINTIES OF THE REAL ESTATE MARKET AND FLUCTUATIONS OF PROPERTY VALUES AND DIFFERENCES WITH RESPECT THERETO, AND THAT THE DEPOSIT IS A REASONABLE ESTIMATE OF WHAT THOSE DAMAGES WOULD BE. CLOSING AGENT SHALL DELIVER THE DEPOSIT TO SELLER PROMPTLY UPON RECEIVING WRITTEN NOTICE FROM SELLER THAT BUYER IS IN DEFAULT BEYOND THE APPLICABLE CURE PERIOD (IF ANY), THAT THE PROVISIONS OF SECTION 14.1 APPLY, AND THAT SELLER HAS THE RIGHT TO RECEIVE THE DEPOSIT HEREUNDER. BUYER HEREBY RELEASES CLOSING AGENT FROM ALL LIABILITY TO BUYER FOR COMPLIANCE WITH THE PROVISIONS OF SECTION 14.1. Buyer's initials as to Seller's initials as to Article 27 Article 27
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LIQUIDATED DAMAGES PROVISION. A. All work on the Vessel contemplated hereunder shall be completed and delivery on the Vessel effected on or before the Delivery Date set forth on the first page of this Agreement or such extensions of time as are provided for herein. Both parties recognize that because during construction OWNER will make contracts depending upon the use of the Vessel and that delivery time is of the essence and that delivery delay will result in substantial damages not susceptible of accurate calculation. In the event the Vessel is not completed and delivered to the OWNER 30 days from the Delivery Date or Extended Delivery Date by the provisions of this Agreement, OWNER will deduct from Delivery Payment for the Vessel the sum of Fifteen-Thousand Dollars ($15,000.00) per day for each day following the Delivery Date, or the Extended Delivery Date until the Vessel is actually completed and accepted by OWNER. This is in lieu of all other damages, direct or consequential, which may result to OWNER from delay. The maximum Builder shall pay as liquidated damages under this agreement is Nine Hundred Thousand Dollars ($900,000). B. In the event the parties are unable to agree on the above reduction of the Acceptance Payment, the Vessel shall nevertheless be accepted by OWNER upon OWNER paying the undisputed amount to BUILDER, and by placing the disputed portion of the acceptance in a Certificate of Deposit with a bank or in prime grade commercial paper, which is mutually acceptable to both parties, to be withdrawn only upon signatures of both OWNER’s and BUILDER’s attorneys, interest to be accumulated and payable in proportion to the resolution of the dispute, and the certificate to be held by OWNER’s attorneys.
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LIQUIDATED DAMAGES PROVISION. SELLER AND PURCHASER AGREE THAT IF THIS AGREEMENT IS TERMINATED, THE DAMAGES THAT SELLER WOULD SUSTAIN AS A RESULT OF SUCH TERMINATION WOULD BE DIFFICULT IF NOT IMPOSSIBLE TO ASCERTAIN. ACCORDINGLY, SELLER AND PURCHASER AGREE AFTER NEGOTIATION THAT SELLERS SHALL RETAIN FIFTY THOUSAND SHARES OF THE PURCHASE PRICE, AND RETURN THE REMAINDER OF THE SHARES, AS FULL AND COMPLETE LIQUIDATED DAMAGES AND AS SELLER’S SOLE AND EXCLUSIVE REMEDY FOR SUCH TERMINATION; PROVIDED, HOWEVER, THAT THE PARTIES SHALL RETAIN ALL RIGHTS AND REMEDIES UNDER THIS AGREEMENT WITH RESPECT TO THOSE OBLIGATIONS WHICH EXPRESSLY SURVIVE SUCH TERMINATION; AND PROVIDED, FURTHER, THAT THE SELLER SHALL BE ENTITLED TO EXERCISE ANY RIGHTS OR REMEDIES IT MAY HAVE BY VIRTUE OF AN INDEMNITY CREATED OR GRANTED IN THIS AGREEMENT INCLUDING, WITHOUT LIMITATION, RECOVERY OF REASONABLE ATTORNEYS FEES AND COSTS. Sellers’ Initials Purchasers Initials
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Related to LIQUIDATED DAMAGES PROVISION

  • 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.

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

  • 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.

  • 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.

  • 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.

  • 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.

  • Obligation Absolute; Partial Liquidated Damages The Company’s obligations to issue and deliver the Conversion Shares upon conversion of this Debenture in accordance with the terms hereof are absolute and unconditional, irrespective of any action or inaction by the Holder to enforce the same, any waiver or consent with respect to any provision hereof, the recovery of any judgment against any Person or any action to enforce the same, or any setoff, counterclaim, recoupment, limitation or termination, or any breach or alleged breach by the Holder or any other Person of any obligation to the Company or any violation or alleged violation of law by the Holder or any other Person, and irrespective of any other circumstance which might otherwise limit such obligation of the Company to the Holder in connection with the issuance of such Conversion Shares; provided, however, that such delivery shall not operate as a waiver by the Company of any such action the Company may have against the Holder. In the event the Holder of this Debenture shall elect to convert any or all of the outstanding principal amount hereof, the Company may not refuse conversion based on any claim that the Holder or anyone associated or affiliated with the Holder has been engaged in any violation of law, agreement or for any other reason, unless an injunction from a court, on notice to Holder, restraining and or enjoining conversion of all or part of this Debenture shall have been sought and obtained, and the Company posts a surety bond for the benefit of the Holder in the amount of 150% of the outstanding principal amount of this Debenture, which is subject to the injunction, which bond shall remain in effect until the completion of arbitration/litigation of the underlying dispute and the proceeds of which shall be payable to the Holder to the extent it obtains judgment. In the absence of such injunction, the Company shall issue Conversion Shares or, if applicable, cash, upon a properly noticed conversion. If the Company fails for any reason to deliver to the Holder such Conversion Shares pursuant to Section 4(c)(ii) by the Share Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of principal amount being converted, $10 per Trading Day (increasing to $20 per Trading Day on the fifth (5th) Trading Day after such liquidated damages begin to accrue) for each Trading Day after such Share Delivery Date until such Conversion Shares are delivered or Holder rescinds such conversion. Nothing herein shall limit a Xxxxxx’s right to pursue actual damages or declare an Event of Default pursuant to Section 8 hereof for the Company’s failure to deliver Conversion Shares within the period specified herein and the Holder shall have the right to pursue all remedies available to it hereunder, at law or in equity including, without limitation, a decree of specific performance and/or injunctive relief. The exercise of any such rights shall not prohibit the Holder from seeking to enforce damages pursuant to any other Section hereof or under applicable law.

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