Common use of PERCENTAGE TO BE TAKEN FROM RESPONSE TO RFP Clause in Contracts

PERCENTAGE TO BE TAKEN FROM RESPONSE TO RFP. The liquidated damages threshold (“LDT”) is equal to the RTE Performance Metric minus 2 percentage points. The Selected RTE Test is the RTE Test that came closest to satisfying the RTE Performance Metric during the XXXX Measurement Period in question. Seller shall be liable for liquidated damages if: Where: PM = RTE Performance Metric stated as percentage RTE Ratio = RTE Ratio from Selected RTE Test stated as percentage For each percentage point by which the RTE Ratio is below the LDT, Seller shall pay, and Company shall accept, liquidated damages in an amount equal to two-tenths of one percent (0.002) of the Lump Sum Payment for the Measurement Period in question. Each Party agrees and acknowledges that (i) the damages that Company would incur if the Seller fails to achieve the RTE Performance Metric for a Measurement Period would be difficult or impossible to calculate with certainty and (ii) the aforesaid liquidated damages are an appropriate approximation of such damages.