Payment of Performance Liquidated Damages. GEC shall pay any Performance Liquidated Damages due to Owner upon GEC’s submission of the Commercial Operation certificate. GEC payments shall be by invoice that reconciles LD payment obligation with amounts due Contractor from retention and milestone payments, as the case may be. If further funds are needed to meet the LD obligation, then Contractor shall itemize that on the invoice and include payment therewith.
Appears in 4 contracts
Samples: Engineering, Procurement and Construction Agreement, Engineering, Procurement and Construction Agreement (USA Synthetic Fuel Corp), Engineering, Procurement and Construction Agreement (USA Synthetic Fuel Corp)
Payment of Performance Liquidated Damages. GEC and Contractor shall pay any Performance Liquidated Damages due to Owner upon GECContractor’s submission of the Commercial Operation certificate. GEC Contractor payments shall be by invoice that reconciles LD payment obligation with amounts due Contractor from retention and milestone payments, as the case may be. If further funds are needed to meet the LD obligation, then Contractor shall itemize that on the invoice and include payment therewith.. GEC/ICC/EPC 50 Confidential Business Information
Appears in 2 contracts
Samples: Engineering, Procurement and Construction Agreement, Engineering, Procurement and Construction Agreement (Global Energy, Inc.)
