Common use of TIME OF COMPLETION AND LIQUIDATED DAMAGES Clause in Contracts

TIME OF COMPLETION AND LIQUIDATED DAMAGES. If an amount is indicated immediately below, liquidated damages shall be applicable to this Project as, and to, the extent shown below. Where an amount is indicated below, liquidated damages shall be assessed in accordance with and pursuant to the terms of Article 46, Time of Completion and Liquidated Damages, in the amounts and as here indicated. The election of liquidated damages shall limit and control the party’s right to damages only to the extent noted. For the inability to use the Project, for each day after the number of calendar days specified in the Design/Build Entity’s proposal for the Project and the Agreement for achievement of Substantial Completion, until the day that the Project has achieved Substantial Completion and the Notice of Substantial Completion is issued, the Design/Build Entity agrees that an amount equal to   Dollars ($ ); shall be assessed against Design/Build Entity from amounts due and payable to the Design/Build Entity under the Agreement, or the Design/Build Entity and the Design/Build Entity’s Surety shall pay to the Principal Representative such sum for any deficiency, if amounts on account thereof are deducted from remaining amounts due, but amounts remaining are insufficient to cover the entire assessment. For damages related to or arising from additional administrative, technical, supervisory and professional expenses related to and arising from the extended closeout period, for each day in excess of the number of calendar days specified in the Design/Build Entity’s proposal for the Project and the Agreement to finally complete the Project as defined by the issuance of the Notice of Final Acceptance) after the issuance of the final Notice of Substantial Completion, the Design/Build Entity agrees that an amount equal to  Dollars ($ ); shall be assessed against Design/Build Entity from amounts due and payable to the Design/Build Entity under the Agreement, or the Design/Build Entity and the Design/Build Entity’s Surety shall pay to the Principal Representative such sum for any deficiency, if amounts on account thereof are deducted from remaining amounts due but amounts remaining are insufficient to cover the entire assessment.

TIME OF COMPLETION AND LIQUIDATED DAMAGES. If an amount is indicated immediately below, liquidated damages shall be applicable to this Project as, and to, the extent shown below. Where an amount is indicated below, liquidated damages shall be assessed in accordance with and pursuant to the terms of Article 46, Time of Completion and Liquidated Damages, in the amounts and as here indicated. The election of liquidated damages shall limit and control the party’s right to damages only to the extent noted. For the inability to use the Project, for each day after the number of calendar days specified in the Design/Build Entity’s proposal for the Project and the Agreement for achievement of Substantial Completion, until the day that the Project has achieved Substantial Completion and the Notice of Substantial Completion is issued, the Design/Build Entity agrees that an amount equal to   Dollars ($ ); shall be assessed against Design/Build Entity from amounts due and payable to the Design/Build Entity under the AgreementContract, or the Design/Build Entity and the Design/Build Entity’s Surety shall pay to the Principal Representative such sum for any deficiency, if amounts on account thereof are deducted from remaining amounts due, but amounts remaining are insufficient to cover the entire assessment. For damages related to or arising from additional administrative, technical, supervisory and professional expenses related to and arising from the extended closeout period, for each day in excess of the number of calendar days specified in the Design/Build Entity’s proposal for the Project and the Agreement to finally complete the Project as defined by the issuance of the Notice of Final Acceptance) after the issuance of the final Notice of Substantial Completion, the Design/Build Entity agrees that an amount equal to  Dollars ($ ); shall be assessed against Design/Build Entity from amounts due and payable to the Design/Build Entity under the AgreementContract, or the Design/Build Entity and the Design/Build Entity’s Surety shall pay to the Principal Representative such sum for any deficiency, if amounts on account thereof are deducted from remaining amounts due but amounts remaining are insufficient to cover the entire assessment.

TIME OF COMPLETION AND LIQUIDATED DAMAGES. ‌ If an amount is indicated immediately below, liquidated damages shall be applicable to this Project as, and to, the extent shown below. Where an amount is indicated below, liquidated damages shall be assessed in accordance with and pursuant to the terms of Article 46, Time of Completion and Liquidated Damages, in the amounts and as here indicated. The election of liquidated damages shall limit and control the party’s right to damages only to the extent noted. For the inability to use the Project, for each day after the number of calendar days specified in the Design/Build EntityConstruction Manager’s proposal for the Project and the Agreement for achievement of Substantial Completion, until the day that the Project has achieved Substantial Completion and the Notice of Substantial Completion is issued, the Design/Build Entity Construction Manager agrees that an amount equal to   Insert dollar value written in words Dollars ($ $ ); shall be assessed against Design/Build Entity Construction Manager from amounts due and payable to the Design/Build Entity Construction Manager under the AgreementContract, or the Design/Build Entity Construction Manager and the Design/Build EntityConstruction Manager’s Surety shall pay to the Principal Representative such sum for any deficiency, if amounts on account thereof are deducted from remaining amounts due, but amounts remaining are insufficient to cover the entire assessment. For damages related to or arising from additional administrative, technical, supervisory and professional expenses related to and arising from the extended closeout period, for each day in excess of the number of calendar days specified in the Design/Build EntityConstruction Manager’s proposal for the Project and the Agreement to finally complete the Project as defined by the issuance of the Notice of Final Acceptance) after the issuance of the final Notice of Substantial Completion, the Design/Build Entity Construction Manager agrees that an amount equal to  Dollars Insert dollar value written in words Dollars ($ $ ); shall be assessed against Design/Build Entity Construction Manager from amounts due and payable to the Design/Build Entity Construction Manager under the AgreementContract, or the Design/Build Entity Construction Manager and the Design/Build EntityConstruction Manager’s Surety shall pay to the Principal Representative such sum for any deficiency, if amounts on account thereof are deducted from remaining amounts due but amounts remaining are insufficient to cover the entire assessment.

TIME OF COMPLETION AND LIQUIDATED DAMAGES. If an amount is indicated immediately below, liquidated damages shall be applicable to this Project as, and to, the extent shown below. Where an amount is indicated below, liquidated damages shall be assessed in accordance with and pursuant to the terms of Article 46, Time of Completion and Liquidated Damages, in the amounts and as here indicated. The election of liquidated damages shall limit and control the party’s right to damages only to the extent noted. For the inability to use the Project, for each day after the number of calendar days specified in the Design/Build EntityConstruction Manager’s proposal for the Project and the Agreement for achievement of Substantial Completion, until the day that the Project has achieved Substantial Completion and the Notice of Substantial Completion is issued, the Design/Build Entity Construction Manager agrees that an amount equal to   Dollars ($ ); shall be assessed against Design/Build Entity Construction Manager from amounts due and payable to the Design/Build Entity Construction Manager under the AgreementContract, or the Design/Build Entity Construction Manager and the Design/Build EntityConstruction Manager’s Surety shall pay to the Principal Representative such sum for any deficiency, if amounts on account thereof are deducted from remaining amounts due, but amounts remaining are insufficient to cover the entire assessment. For damages related to or arising from additional administrative, technical, supervisory and professional expenses related to and arising from the extended closeout period, for each day in excess of the number of calendar days specified in the Design/Build EntityConstruction Manager’s proposal for the Project and the Agreement to finally complete the Project as defined by the issuance of the Notice of Final Acceptance) after the issuance of the final Notice of Substantial Completion, the Design/Build Entity Construction Manager agrees that an amount equal to  Dollars  Dollars ($ ); shall be assessed against Design/Build Entity Construction Manager from amounts due and payable to the Design/Build Entity Construction Manager under the Agreement, or the Design/Build Entity Construction Manager and the Design/Build EntityConstruction Manager’s Surety shall pay to the Principal Representative such sum for any deficiency, if amounts on account thereof are deducted from remaining amounts due but amounts remaining are insufficient to cover the entire assessment.