Common use of Non-Compliance Points Liquidated Damages Clause in Contracts

Non-Compliance Points Liquidated Damages. The Developer will be assessed liquidated damages (“Non-Compliance Points Liquidated Damages”) upon accumulation of assessed Non-Compliance Points in the amounts in Table 11-1 below and in accordance with Section 8.10(d). Non-Compliance Points Liquidated Damages amounts will be reconciled by the Developer as of the beginning of each Agreement Year after the Financial Close Date and paid to the Department within 30 days of the same Agreement Year.‌ Table 11 – 1: Non-compliance Performance Violations Cumulative Non-compliant Points Per Element Level of Severity Category A B C 0 $ - $ - $ - 1 $ - $ - $ - 2 $ - $ 2,500 $ 5,000 3 $ 1,000 $ 5,000 $ 10,000 4 $ 5,000 $ 10,000 $ 20,000 5 $ 10,000 $ 25,000 $ 40,000 >5 $ 15,000 $ 40,000 $ 60,000

Non-Compliance Points Liquidated Damages. The Developer will be assessed liquidated damages (“Non-Compliance Points Liquidated Damages”) upon accumulation of assessed Non-Compliance Points in the amounts in Table 11-1 below and in accordance with with‌ Section 8.10(d). Non-Compliance Points Liquidated Damages amounts will be reconciled by the Developer as of the beginning of each Agreement Year after the Financial Close Date and paid to the Department within 30 days of the same Agreement Year.‌ Year. Table 11 – 1: Non-compliance Performance Violations Cumulative Non-compliant Points Per Element Level of Severity Category A B C 0 $ - $ - $ - 1 $ - $ - $ - 2 $ - $ 2,500 $ 5,000 3 $ 1,000 $ 5,000 $ 10,000 4 $ 5,000 $ 10,000 $ 20,000 5 $ 10,000 $ 25,000 $ 40,000 >5 $ 15,000 $ 40,000 $ 60,000