Common use of OF AGREEMENT Clause in Contracts

OF AGREEMENT. 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 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, as follows: Maximum = 25% of Construction Manager’s Fee Daily Reduction = Maximum The amount of reduction per day shall be ($ ). The total liquidated damages shall in no event exceed a maximum of ($ ). The sum of all the liquidated damages combined, imposed by the Construction Manager upon all the Trade Contractors combined, may not exceed the total amount included above.

OF AGREEMENT. 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 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, as follows: Maximum = 25% of Construction Manager’s Fee Daily Reduction = Maximum The amount of reduction per day shall be ($ ). The total liquidated damages shall in no event exceed a maximum of ($ ). The sum of all the total liquidated damages combined, imposed by the Construction Manager upon all included in the Trade Contractors combined, Contractors’ contracts may not exceed the total amount included above.

OF AGREEMENT. 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 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, as follows: Maximum = 25% of Construction Manager’s Fee Daily Reduction = Maximum The amount of reduction per day shall be ($ ). The total liquidated damages shall in no event exceed a maximum of ($ ). The total sum of all the liquidated damages combined, imposed included inimposed by the Construction Manager upon all the Trade Contractors Contractors’ contracts combined, may not exceed the total amount included above.

OF AGREEMENT. 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 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, as follows: Maximum = 25% of Construction Manager’s Fee Daily Reduction = Maximum The amount of reduction per day shall be _($ ). The total liquidated damages shall in no event exceed a maximum of ($ ). The sum of all the liquidated damages combined, imposed by the Construction Manager upon all the Trade Contractors combined, may not exceed the total amount included above.

OF AGREEMENT. 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 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, as follows: Maximum = 25% of Construction Manager’s Fee Daily Reduction = Maximum The amount of reduction per day shall be _ _($ $_ _). The total liquidated damages shall in no event exceed a maximum of _($ $_ ). The sum of all the liquidated damages combined, imposed by the Construction Manager upon all the Trade Contractors combined, may not exceed the total amount included above.