Common use of Payments of Liquidated Damages Clause in Contracts

Payments of Liquidated Damages. Within fourteen (14) Days after the end of (i) each Month in respect of amounts due pursuant to Articles 9.1 and 9.2, and (ii) each Contract Year in respect of amounts due pursuant to Article 9.3 and 9.4, GPA shall compute and advise Project Company by Notice (a "Liquidated Damages Notice") of the amount of liquidated damages, if any, due to GPA pursuant to this Agreement for the preceding Month or Contract Year, as the case may be. Subject to Article 9.7.1(b), Project Company shall pay to GPA the amount of liquidated damages shown on the Liquidated Damages Notice within ten (10) Business Days of the date of the Liquidated Damages Notice (the "Liquidated Damages Due Date"). If Project Company fails to pay any amount due pursuant to Article 9.1, 9.2, 9.3, and 9.4 by the Liquidated Damages Due Date, GPA shall be entitled to draw such amount from the Performance Bond. Interest shall accrue on any unpaid and undrawn amount from the Liquidated Damages Due Date until the date payment is made at the rate of the Bank Rate. Save to the extent that the amount of liquidated damages reflected on the Liquidated Damages Notice is paid to GPA by Project Company or, with respect to liquidated damages pursuant to Article 9.1, 9.2, 9.3, and 9.4, drawn from the Performance Bond, the amount of liquidated damages pursuant to Article 9.1, 9.2, 9.3, or 9.4 plus accrued interest due to GPA may be set off against amounts owed to Project Company by GPA on the next statement(s) submitted to GPA pursuant to ARTICLE 14. In the event of any Dispute as to the computation or payment of liquidated damages, Project Company shall provide Notice to GPA specifying the amount disputed and the reason therefor. In such event, the amounts not disputed shall be paid as described in this Article 9 and the Dispute shall be settled in accordance with the Dispute resolution procedures set forth in Article 19. If any such Dispute is resolved in favor of GPA, the determination of amounts due to GPA shall include interest at the rate specified for late payment in Article 9.7(a). Upon resolution, the Project Company shall pay the amount determined to be owed to GPA within ten (10) Days of such resolution, failing which GPA shall be entitled to claim such amount from the Performance Bond, as applicable. CONTROL AND OPERATION OF THE FACILITY Operating Procedures The Facility shall be operated and maintained in accordance with the Operating Procedures.

Payments of Liquidated Damages. (a) Within fourteen (14) Days after the end of (i) each Month in respect of amounts due pursuant to Articles 9.1 and 9.2, and (ii) each Contract Year in respect of amounts due pursuant to Article 9.3 and 9.4, GPA shall compute and advise Project Company by Notice (a "Liquidated Damages Notice") of the amount of liquidated damages, if any, due to GPA pursuant to this Agreement for the preceding Month or Contract Year, as the case may be. Subject to Article 9.7.1(b9.7(b), Project Company shall pay to GPA the amount of liquidated damages shown on the Liquidated Damages Notice within ten (10) Business Days of the date of the Liquidated Damages Notice (the "Liquidated Damages Due Date"). If Project Company fails to pay any amount due pursuant to Article 9.1, 9.2, 9.3, and 9.4 by the Liquidated Damages Due Date, GPA shall be entitled to draw such amount from the Performance Bond. Interest shall accrue on any unpaid and undrawn amount from the Liquidated Damages Due Date until the date payment is made at the rate of the Bank Rate. Save to the extent that the amount of liquidated damages reflected on the Liquidated Damages Notice is paid to GPA by Project Company or, with respect to liquidated damages pursuant to Article 9.1, 9.2, 9.3, and 9.4, drawn from the Performance Bond, the amount of liquidated damages pursuant to Article 9.1, 9.2, 9.3, or 9.4 plus accrued interest due to GPA may be set off against amounts owed to Project Company by GPA on the next statement(s) submitted to GPA pursuant to ARTICLE Article 14. In the event of any Dispute as to the computation or payment of liquidated damages, Project Company shall provide Notice to GPA specifying the amount disputed and the reason therefor. In such event, the amounts not disputed shall be paid as described in this Article 9 and the Dispute shall be settled in accordance with the Dispute resolution procedures set forth in Article 19. If any such Dispute is resolved in favor of GPA, the determination of amounts due to GPA shall include interest at the rate specified for late payment in Article 9.7(a). Upon resolution, the Project Company shall pay the amount determined to be owed to GPA within ten (10) Days of such resolution, failing which GPA shall be entitled to claim such amount from the Performance Bond, as applicable. CONTROL AND OPERATION OF THE FACILITY Operating Procedures The Facility shall be operated and maintained in accordance with the Operating Procedures.

Payments of Liquidated Damages. Within fourteen (14) Days after the end of (i) each Month in respect of amounts due pursuant to Articles 9.1 and 9.2Operating Year, and (ii) each Contract Year in respect of amounts due pursuant to Article 9.3 and 9.4, GPA EVN shall compute and advise Project the BOT Company by Notice written notice (a "“Liquidated Damages Notice"”) of the amount of liquidated damages, if any, damages due to GPA EVN pursuant to this Agreement for the preceding Month or Contract Operating Year, . The BOT Company shall have fifteen (15) Days from receipt of the Liquidated Damages Notice to review such notice and to provide EVN with written notice as to any amount of the case may beliquidated damages it Disputes. Subject to Article 9.7.1(b), Project The BOT Company shall pay to GPA EVN the undisputed amount of liquidated damages shown on the Liquidated Damages Notice within ten fifteen (1015) Business Days of the date of the Liquidated Damages Notice (the "“Liquidated Damages Due Date"”). If Project Company fails to pay any amount due pursuant to Article 9.1, 9.2, 9.3, and 9.4 by the Liquidated Damages Due Date, GPA shall be entitled to draw such amount from the Performance Bond. Interest interest shall accrue on any unpaid and undrawn amount from the Liquidated Damages Due Date until the date payment is made at the rate of the Bank Default Rate. Save to Unless the extent that the entire undisputed amount of liquidated damages reflected on the Liquidated Damages Notice is paid to GPA EVN by Project Company orthe BOT Company, with respect to the undisputed amount of such liquidated damages pursuant to Article 9.1, 9.2, 9.3, and 9.4, drawn from the Performance Bond, the amount of liquidated damages pursuant to Article 9.1, 9.2, 9.3, or 9.4 plus accrued interest due to GPA EVN may be set off against immediately deducted by EVN from the Operations Security Deposit. Disputed amounts owed to Project Company by GPA on shall be handled in accordance with the next statement(s) submitted to GPA procedure for a disputed invoice pursuant to ARTICLE 14Article 13.5 and, if not resolved, then pursuant to the Dispute resolution procedures of Article 16. In the event of any Dispute as disputed amounts are not placed in escrow pursuant to the computation or payment of liquidated damages, Project Company shall provide Notice to GPA specifying the amount disputed and the reason therefor. In such event, the amounts not disputed shall be paid as described in this Article 9 and the Dispute shall be settled in accordance with the Dispute resolution procedures procedure set forth in Article 19. If any such Dispute is resolved in favor of GPA13.5, the determination of amounts due to GPA shall include interest at the rate specified for late payment in Article 9.7(a). Upon resolution, the Project Company shall pay the amount determined to be owed to GPA within ten (10) Days of such resolution, failing which GPA EVN shall be entitled to claim such amount draw the disputed amounts from the Performance Bond, as applicable. CONTROL AND OPERATION OF THE FACILITY Operating Procedures The Facility shall be operated and maintained Operations Security Deposit for the purpose of placing such amounts in accordance with the Operating Proceduresescrow pending resolution of such Dispute.