Performance Damages. (a) If the Measurement Period Net Output during any Measurement Period is equal to or greater than the Measurement Period Guaranteed Amount for such Measurement Period, then Seller shall not be liable to PacifiCorp for any Performance Damages in respect of such Measurement Period.
(b) If the Measurement Period Net Output during any Measurement Period is less than the Measurement Period Guaranteed Amount for such Measurement Period, then Seller shall be liable to PacifiCorp for liquidated damages (“Performance Damages”) in respect of such Measurement Period calculated as follows: Performance Damages = Output Shortfall * Performance Guarantee Cover Cost Where: Output Shortfall = the positive difference between the Measurement Period Net Output and the Measurement Period Guaranteed Amount for such Measurement Period (in MWh); and Performance Guarantee Cover Cost = the weighted average PacifiCorp’s Cost to Cover for such Measurement Period (in $/MWh), where the weighting is based on the PacifiCorp’s Cost to Cover in the hours in such Measurement Period in which the Measurement Period Hourly Net Output is less than the Expected Hourly Net Output (as such Expected Hourly Net Output is determined based on the Expected Net Output Excel File).
Performance Damages. (a) If the aggregate amount of Net Output delivered to PacifiCorp during any Contract Year is equal to or greater than the Guaranteed Amount for such Contract Year, then Seller shall not be liable to PacifiCorp for any Performance Damages in respect of such Contract Year.
(b) If the aggregate amount of Net Output delivered to PacifiCorp during any Contract Year is less than the Guaranteed Amount for such Contract Year, then Seller shall determine the shortfall amount (the “Output Shortfall”) for such Contract Year (in MWh) in accordance with the following formula (each component determined for such Contract Year): Output Shortfall = Expected Energy Amount – Excluded Amount – Net Output
(c) If the Output Shortfall is a positive number, then Seller shall pay PacifiCorp liquidated damages (“Performance Damages”) in respect of such Contract Year equal to the product of (i) the Output Shortfall for such Contract Year, multiplied by (ii) PacifiCorp's Cost to Cover for such Contract Year. If the Output Shortfall is a negative number, then Seller shall not be obligated to pay PacifiCorp any Performance Damages in respect of such Contract Year.
Performance Damages. (a) If Seller fails to achieve Construction Start by the Milestone Date therefor (the “Construction Start Deadline”), Seller shall pay liquidated damages to Buyer in an amount, per day, equal to the Construction Start DLD Amount for each day intervening between the Construction Start Deadline and the earlier of (x) the date Construction Start is achieved, and
(y) the date, if any, on which this Agreement is terminated by Buyer; provided, however, that if the Agreement is not terminated by Buyer, and Seller nonetheless achieves either Partial Commercial Operation by the Partial Commercial Operation Date or Full Commercial Operation by the Full Commercial Operation Deadline, then Buyer shall refund the amount of liquidated damages paid by Seller under this Section 3.5(a), and any such refunded amount shall not be counted towards the determination of whether the Delay Damages Cap has been reached for purposes of Section 13.1(l).
(b) If Seller fails to achieve Partial Commercial Operation by the Milestone Date therefor (the “Partial Commercial Operation Deadline”), as such date may be extended pursuant to Section 3.6 below, Seller shall pay liquidated damages to Buyer in an amount, per day, equal to the Partial COD DLD Amount for each day intervening between the Partial Commercial Operation Deadline and the earlier of (x) the date Partial Commercial Operation is achieved, and (y) the date, if any, on which this Agreement is terminated by Buyer. Buyer may draw upon any undrawn portion of the Project Development Security for the payment of such liquidated damages.
(c) If Seller fails to achieve Full Commercial Operation by the Milestone Date therefor (“Full Commercial Operation Deadline”), as such date may be extended pursuant to Section 3.6 below, Seller shall pay liquidated damages to Buyer in an amount, per day, equal to Full COD DLD Amount for each day intervening between the Full Commercial Operation Deadline and the earlier of (x) the date Full Commercial Operation is achieved, and (y) the date, if any, on which this Agreement is terminated by Buyer. Buyer may draw upon any undrawn portion of the Project Development Security for the payment of such liquidated damages.
(d) The liquidated damages payable under this Section 3.5 (collectively, “Delay Damages”) shall be payable in lieu of actual damages, and notwithstanding any other provision of this Agreement, the Delay Damages and Buyer’s remedies under Section 13.3(g) for a Seller Default under Section 13.1...
Performance Damages. If Seller fails to achieve the Commercial Operation Date by i July 31, 2017 (subject to day-for-day extension for Excusable Delays), Seller shall pay liquidated damages to Buyer in an amount equal to $260 per day per MW, up to a maximum of $180,000 per MW of the Facility in the aggregate, for each day intervening between July 31, 2017, and the earlier of (x) the date the Commercial Operation Date is achieved, and (y) the date, if any, on which this Agreement is terminated by Buyer pursuant to Section 2.4. Notwithstanding the foregoing, in addition to any liquidated damages previously payable to Buyer before any termination permitted pursuant to Section 2.4(f). Seller shall pay additional liquidated damages to Buyer upon such termination equal to the difference, if any, between Seller’s Performance Security and the liquidated damages already payable to Buyer.
Performance Damages. If Seller fails to achieve the Commencement Date by the Guaranteed Commencement Date, Seller shall pay liquidated damages to Buyer in an amount equal to five thousand dollars ($5,000) per day (“Daily Delay Damages”) for each day intervening between the Guaranteed Commencement Date and the earlier of (a) the Commencement Date and (b) the date, if any, on which this Agreement is terminated by Buyer pursuant to Section 2.4. The Parties agree that (x) it is impractical or extremely difficult to determine actual damages to which Buyer would be entitled in the foregoing circumstance, and
Performance Damages. Any performance damage payment in an amount greater than $5,000,000 made to any Noble Entity (or the Noble Entities in the aggregate) for or on account of any permanent diminution in the performance of any of the Projects, including liquidated damages for failing to achieve the Power Curve Guarantee (as defined in the Turbine Supply Agreement), shall be applied to the prepayment of the First Lien Obligations as provided in Section 4.1 of the Intercreditor Agreement (pursuant to an Executed Withdrawal/Transfer Certificate executed and delivered to Depositary) with any surplus applied in accordance with the Intercreditor Agreement.
Performance Damages. If the Event is held, but the Hotel does not realize the Total Anticipated Revenue from your Event, you agree to pay the Hotel an amount equal to 100% of the charges (including labor, gratuities, and service charges, rentals and applicable taxes) for the final guarantee or contracted number of guests, whichever is h igher.
Performance Damages. Damages for deficient performances of the Turbines are limited to the damages set forth in Article 7.
Performance Damages. (a) If Seller fails to achieve the Commercial Operation Date by March 31, 2009, except to the extent due to a Force Majeure event, Seller shall pay liquidated damages to Buyer in an amount equal to $40,000/day for each day of delay thereafter, provided, however, that the maximum liability of Seller under this Section 11.3(a) during the Agreement Term shall not exceed $7.2 million.
(b) [Deleted]
Performance Damages. You may reduce the minimum numbers of pre-booked bedroom accommodation, pre-booked delegate requirements, pre-booked meeting room hire and/or pre-booked F&B without liability or cost to you at any time 180 days or more prior to the Arrival Date. If the reductions result in more than a 50% reduction in the Total Anticipated Revenue for the Event, then we reserve the right to cancel the Event without further liability to either party. In addition, the following performance damages will apply in case of a reduction in numbers: If you do not exercise the option to reduce pre-booked bedroom accommodation, pre-booked delegate requirements, and pre-booked room hire and/or pre-booked F&B as described above, then the option is waived. Any bedrooms, delegate packages, meeting rooms and/or F&B added after Event Agreement signing will automatically be subject to this Event Agreement’s terms and conditions, including, but not limited to, full cancellation and performance/reduction in numbers policies. If the Event is held, but we do not realize the Total Anticipated Revenue (as adjusted, if any, pursuant to this clause) from your Event, you agree to pay liquidated damages for lack of performance. The performance damages owed will be the amount necessary for us to receive no less than 100% of each minimum revenue guarantee listed in the summary table above, plus applicable national and local taxes; provided, however, that if you properly reduced your pre-booked commitments in accordance with this clause, each applicable minimum revenue guarantee listed in the summary table above shall be reduced in a corresponding manner. You do not currently have credit facilities with Hilton Worldwide or us. Deposit payments are required as below: 1st deposit 50% 01 Jul 2015 EGP 62,265 2nd Deposit 50% 17 Nov 2015 EGP 62,265 On day of event Any extras or increase in the guaranteed number of Pax, should be settled in cash on day of event. All percentages above refer to the Total Anticipated Revenue Payments can be made either by cash at the hotel, Or by certified cheque, made payable to 'Hilton Xxxxxxxxxx Xxxxx Plaza Hotel', Or by Bank Transfer to the following details: Account Number in USD: 00061760000280 Account Number in EGP: 00061750000290 Account Number in Euro: 00061780000150 Beneficiary Account Name: Hilton Xxxxxxxxxx Xxxxx Plaza Bank / Branch Name: Credit Agricole Egypt / Garden City Branch Address of Bank: 00 Xxxxx Xx Xxx Xxx Xx Xxxxxxx Xxxxxx, Xxxxx, Xxxxx SWIFT CODE: XXXXXXX...
