Major Construction Milestone Liquidated Damages. Seller shall deliver to Buyer its written notice that the Major Construction Milestone has occurred within seventy-two (72) hours of such occurrence. If the Major Construction Milestone has not occurred by the Major Construction Milestone Target Date, then Seller shall pay to Buyer as Liquidated Damages an amount equal to ________ Dollars ($___)[PROPOSER TO INSERT NUMBER EQUAL TO THREE HUNDRED DOLLARS ($300) MULTIPLIED
Major Construction Milestone Liquidated Damages. Seller shall deliver to Buyer its written notice that the Major Construction Milestone has occurred within seventy-two (72) hours of such occurrence. If the Major Construction Milestone has not occurred by the Major Construction Milestone Target Date, then Seller shall pay to Buyer as Liquidated Damages an amount equal to ________ Dollars ($___)[PROPOSER TO INSERT NUMBER EQUAL TO THREE HUNDRED DOLLARS ($300) MULTIPLIED BY THE NUMBER OF MW OF NET DESIGN CAPACITY OF THE PROJECT] per Day for each Day of delay following the Major Construction Milestone Target Date until the Major Construction Milestone has occurred up to a maximum amount equivalent to ninety (90) Days’ Liquidated Damages, to be paid pursuant to Buyer as set forth in Section 3.3(v). Buyer shall deposit the Liquidated Damages paid pursuant to this Section 3.3(iii) into an Escrow Account. Buyer shall maintain the deposited amount in the Escrow Account as a down payment for satisfying the COD Liquidated Damages, if any, payable pursuant to Section 3.3(iv); provided, however, that if Seller achieves the Commercial Operation Date on or before the COD Target Date, Buyer shall return to Seller any Liquidated Damages paid by Seller pursuant to this Section 3.3(iii), without interest, within thirty (30) Business Days of the Commercial Operation Date.
