Performance Guarantee Damages Sample Clauses

Performance Guarantee Damages. 5.1 If the Actual Generation is less than the Guaranteed Level, then EPC Contractor shall pay to Client as liquidated damages and not as a penalty, an amount (“Performance
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Performance Guarantee Damages. 5.1 If the Actual Generation is less than the Guaranteed Level, then the EPC Contractor shall pay to the Client as liquidated damages and not as a penalty, an amount (“Performance Guarantee Damages”) equal to the shortfall in kWh (“Performance Shortfall”) multiplied by [ ]10. The Performance Shortfall shall be the difference between (a) the Guaranteed Level, and (b) Actual Generation. 5.2 The Parties agree that it would be extremely difficult to precisely determine the amount of actual damages that would be suffered by the Client in the event that the EPC Contractor fails to achieve the Guaranteed Level. The Parties agree that the Performance Guarantee Damages are a fair and reasonable determination of the amount of actual damages that would be suffered by the Client for the EPC Contractor’s failure to meet the Guaranteed Level, and the Parties agree that these liquidated damages do not constitute a penalty. 5.3 Performance Guarantee Damages shall be payable within twenty (20) days of the date and verification of the invoice submitted to the EPC Contractor.
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Performance Guarantee Damages. Should Seller fail to achieve the Performance Guarantee, Seller shall pay Performance Guarantee Damages to Buyer, calculated as follows: (50% of the Expected Energy for the Performance Guarantee Period less the Actual Deliveries during the Performance Guarantee Period) x (Market Price for PCC1 Renewable Energy Credits less the Renewable Energy Credit Price). If the result of this calculation is negative, the Performance Guarantee Damages shall be zero. If Seller fails to timely pay any Performance Guarantee Damages, Buyer may draw upon the Performance Security to satisfy Seller’s payment obligation thereof. The payment of Performance Guarantee Damages shall be considered to be liquated damages and shall be the sole and exclusive remedy under this Section 3.12.
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Related to Performance Guarantee Damages

  • Performance Guarantee 9.4.1 The Concessionaire shall, for the performance of its obligations hereunder during the Concession Period, provide to the Authority no later than [90] days prior to expiry of the Performance Security, an irrevocable and unconditional guarantee from a Bank for a sum equivalent to Rs. ***** crore (Rupees ***** crore)7 in the form set forth in Schedule-FF (the “Performance Guarantee”). Until such time the Performance Guarantee is provided by the Concessionaire pursuant hereto and the same comes into effect, notwithstanding anything contained in clause 9.3 the Performance Security shall remain in force and effect, and upon such provision of the Performance Guarantee pursuant hereto, the Authority shall release the Performance Security to the Concessionaire. 9.4.2 Notwithstanding anything to the contrary contained in this Agreement, in the event Performance Guarantee is not provided by the Concessionaire within a period of [90] days prior to expiry of the Performance Security, the Authority may invoke and encash the Performance Security and appropriate the proceeds thereof as Damages, and thereupon all rights, privileges, claims and entitlements of the Concessionaire under or arising out of this Agreement shall be deemed to have been waived by, and to have ceased with the concurrence of the Concessionaire, and this Agreement shall be deemed to have been terminated by mutual agreement of the Parties.

  • Breach of Contract and Liquidated Damages A. Where OGS determines that the Contractor is not in compliance with the requirements of subsection 4.7 of this Contract, and the Contractor refuses to comply with such requirements, or if it is found to have willfully and intentionally failed to comply with the MWBE participation goals set forth in the Contract, the Contractor shall be obligated to pay liquidated damages to OGS. B. Such liquidated damages shall be calculated as an amount equaling the difference between: 1. All sums identified for payment to MWBEs had the Contractor achieved the contractual MWBE goals; and 2. All sums actually paid to MWBEs for work performed or materials supplied under the Contract. C. If OGS determines that Contractor is liable for liquidated damages and such identified sums have not been withheld by OGS, Contractor shall pay such liquidated damages to OGS within sixty (60) days after they are assessed. Provided, however, that if the Contractor has filed a complaint with the Director of the Division of Minority and Women’s Business Development pursuant to 5 NYCRR § 142.12, liquidated damages shall be payable only in the event of a determination adverse to the Contractor following the complaint process.

  • Performance Warranty Contractor shall warrant all work under this Contract, taking necessary steps and precautions to perform the work to County’s satisfaction. Contractor shall be responsible for the professional quality, technical assurance, timely completion and coordination of all documentation and other goods/services furnished by the Contractor under this Contract. Contractor shall perform all work diligently, carefully, and in a good and workmanlike manner; shall furnish all necessary labor, supervision, machinery, equipment, materials, and supplies, shall at its sole expense obtain and maintain all permits and licenses required by public authorities, including those of County required in its governmental capacity, in connection with performance of the work. If permitted to subcontract, Contractor shall be fully responsible for all work performed by subcontractors.

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