Common use of LIQUIDATED DAMAGES; WAIVER OF CONSEQUENTIAL DAMAGES Clause in Contracts

LIQUIDATED DAMAGES; WAIVER OF CONSEQUENTIAL DAMAGES. 9.1.1 If, in the Schedule of Project Details, the parties (i) agree that the damages which the Owner will sustain as a result of a failure to meet the date of Substantial Completion set forth therein, except as modified by Change Order, are difficult or impossible to determine with certainty and (ii) in good faith estimate and set forth as fair compensation (and not as a penalty) “Liquidated Damages” to be based upon the actual date Substantial Completion is achieved, then Liquidated Damages shall apply. 9.1.1.1 If Liquidated Damages apply and Substantial Completion occurs later than the Substantial Completion date established in the Schedule of Project Details, except as modified by Change Order, to the extent not excused as a Force Majeure Event, as defined in §8.6.4 of the Standard General Conditions, Liquidated Damages shall be applied, reducing the Construction Manager’s Fee, for each day of delay thereafter as set forth in the Schedule of Project Details. 9.1.2 If, but only if, Liquidated Damages apply, notwithstanding any other provision of this Agreement, the Owner waives all Claims against the Construction Manager for consequential damages arising out of or relating to the failure to achieve Substantial Completion on or before the date established therefor in the Schedule of Project Details, except as modified by Change Order. 9.1.3 If Liquidated Damages do not apply to a failure to achieve Substantial Completion on or before the date established therefor in the Schedule of Project Details, except as modified by Change Order, and in any event in the case of any other breach of the Agreement by the Construction Manager, then the Owner may pursue and enjoy any and all rights it may have at law or in equity, including claims for direct, incidental, and consequential damages. 9.1.4 Notwithstanding any other provision of this Agreement, the Construction Manager waives all Claims against the Owner for consequential damages, including damages incurred by the Construction Manager for principal office expenses including the compensation of personnel stationed there, for losses of financing, business and reputation, general conditions and site expenses (except to the extent recovery is otherwise specifically permitted by this Agreement), and for loss of opportunity or profit. 9.1.5 If this Agreement includes a provision for Liquidated Damages, it shall not, on account of the Liquidated Damages provision, directly or indirectly or wholly or in part increase (or permit any increase in) the Construction Cost, the Guaranteed Maximum Price, or any fee or compensation it may be entitled to receive beyond what would have otherwise been charged. It is the intention of the parties that risk of Liquidated Damages will be borne solely by the members of the Construction Team and that none of that risk will in any way be passed or charged back to the Owner; provided, however, that the Construction Manager shall not, by contract or otherwise, require any Trade Contractor to bear the risk or burden of Liquidated Damages except to the extent of that Trade Contractor’s responsibility for any delay giving rise to the imposition of Liquidated Damages.

LIQUIDATED DAMAGES; WAIVER OF CONSEQUENTIAL DAMAGES. 9.1.1 ‌ 9.1.1. If, in the Schedule of Project Details, the parties (i) agree that the damages which the Owner will sustain as a result of a failure to meet the date of Substantial Completion set forth therein, except as modified by Change Order, in the Construction Schedule are difficult or impossible to determine with certainty and (ii) in good faith estimate and set forth as fair compensation (and not as a penalty) “Liquidated Damages” to be based upon the actual date Substantial Completion is achieved, then Liquidated Damages shall apply. 9.1.1.1 .1 If Liquidated Damages apply and Substantial Completion occurs later than the Substantial Completion date established in the Schedule of Project DetailsConstruction Schedule, except as modified by Change Order, which is not due to the extent not excused as a Force Majeure Event, as defined in §8.6.4 Section 7.3.3.2 of the Standard General Conditions, Liquidated Damages liquidated damages shall be applied, reducing the Construction Manager’s Fee, for each day of delay thereafter as set forth in the Schedule of Project Details. 9.1.2 9.1.2. If, but only if, Liquidated Damages apply, notwithstanding any other provision of this Agreement, the Owner waives all Claims against the Construction Manager for consequential damages arising out of or relating to the failure to achieve Substantial Completion on or before the date established therefor in the Schedule of Project Details, except as modified by Change OrderConstruction Schedule. 9.1.3 9.1.3. If Liquidated Damages do not apply to a failure to achieve Substantial Completion on or before the date established therefor in the Schedule of Project Details, except as modified by Change OrderConstruction Schedule, and in any event in the case of any other breach of the Agreement by the Construction Manager, then the Owner may pursue and enjoy any and all rights it may have at law or in equity, including claims Claims for direct, incidental, and consequential damages. 9.1.4 9.1.4. Notwithstanding any other provision of this Agreement, the Construction Manager waives all Claims against the Owner for consequential damages, including damages incurred by the Construction Manager for principal office expenses including the compensation of personnel stationed there, for losses of financing, business and reputation, general conditions and site expenses (except to the extent recovery is otherwise specifically permitted by this Agreement), and for loss of opportunity or profit. 9.1.5 If this Agreement includes a provision for Liquidated Damages, it shall not, on account of the Liquidated Damages provision, directly or indirectly or wholly or in part increase (or permit any increase in) the Construction Cost, the Guaranteed Maximum Price, or any fee or compensation it may be entitled to receive beyond what would have otherwise been charged. It is the intention of the parties that risk of Liquidated Damages will be borne solely by the members of the Construction Team and that none of that risk will in any way be passed or charged back to the Owner; provided, however, that the Construction Manager shall not, by contract or otherwise, require any Trade Contractor to bear the risk or burden of Liquidated Damages except to the extent of that Trade Contractor’s responsibility for any delay giving rise to the imposition of Liquidated Damages.

LIQUIDATED DAMAGES; WAIVER OF CONSEQUENTIAL DAMAGES. 9.1.1 If, in the Schedule of Project Details, the parties (i) agree that the damages which the Owner will sustain as a result of a failure to meet the date of Substantial Completion set forth therein, except as modified by Change Order, are difficult or impossible to determine with certainty and (ii) in good faith estimate and set forth as fair compensation (and not as a penalty) “Liquidated Damages” to be based upon the actual date Substantial Completion is achieved, then Liquidated Damages shall shallwill apply. 9.1.1.1 If Liquidated Damages apply and Substantial Completion occurs later than the Substantial Completion date established in the Schedule of Project Details, except as modified by Change Order, to the extent not excused as a Force Majeure Event, as defined in §8.6.4 of the Standard General Conditions, Liquidated Damages shall shallwill be applied, reducing the Construction Manager’s Fee, for each day of delay thereafter as set forth in the Schedule of Project Details. 9.1.2 If, but only if, Liquidated Damages apply, notwithstanding any other provision of this Agreement, the Owner waives all Claims against the Construction Manager for consequential damages arising out of or relating to the failure to achieve Substantial Completion on or before the date established therefor in the Schedule of Project Details, except as modified by Change Order. 9.1.3 If Liquidated Damages do not apply to a failure to achieve Substantial Completion on or before the date established therefor in the Schedule of Project Details, except as modified by Change Order, and in any event in the case of any other breach of the Agreement by the Construction Manager, then the Owner may pursue and enjoy any and all rights it may have at law or in equity, including claims for direct, incidental, and consequential damages. 9.1.4 Notwithstanding any other provision of this Agreement, the Construction Manager waives all Claims against the Owner for consequential damages, including damages incurred by the Construction Manager for principal office expenses including the compensation of personnel stationed there, for losses of financing, business and reputation, general conditions and site expenses (except to the extent recovery is otherwise specifically permitted by this Agreement), and for loss of opportunity or profit. 9.1.5 If this Agreement includes a provision for Liquidated Damages, it shall shallwill not, on account of the Liquidated Damages provision, directly or indirectly or wholly or in part increase (or permit any increase in) the Construction Cost, the Guaranteed Maximum Price, or any fee or compensation it may be entitled to receive beyond what would have otherwise been charged. It is the intention of the parties that risk of Liquidated Damages will be borne solely by the members of the Construction Team and that none of that risk will in any way be passed or charged back to the Owner; provided, however, that the Construction Manager shall shallwill not, by contract or otherwise, require any Trade Contractor to bear the risk or burden of Liquidated Damages except to the extent of that Trade Contractor’s responsibility for any delay giving rise to the imposition of Liquidated Damages.