Liquidated. DAMAGES FOR EXCESS UNSCHEDULED LIFT EQUIPMENT DOWN-TIME: Lift Equipment cannot experience unscheduled down-time of more than six Facility working days per contract year per piece of Lift Equipment unless the Contractor’s failure to place the Lift Equipment back into service arises out of causes beyond the Contractor’s control and without the fault or negligence of the Contractor (i.e. acts of God, the public enemy, fires, floods, freight embargoes, regulated utilities delays, etc.). If Lift Equipment is down longer than the acceptable amount of time specified above, the Excess Lift Equipment Downtime Liquidated Damages Formula below will determine the Contractor’s liability therefore, not as a penalty, but as liquidated damages. The Contractor’s liability for such liquidated damages shall be the product of three factors: (i) the yearly contract costs; times
Appears in 14 contracts
Samples: Centralized Contract for Elevator, Escalator & Miscellaneous Lift Equipment Preventive and Corrective Maintenance, Centralized Contract for Elevator, Escalator & Miscellaneous Lift Equipment Preventive and Corrective Maintenance, Centralized Contract for Elevator, Escalator & Miscellaneous Lift Equipment Preventive and Corrective Maintenance
