Common use of Total Project Cost Clause in Contracts

Total Project Cost. 5.12.1 The Total Project Cost for successful and timely development, implementation and completion of the entire Project and undertake the works related to Scope of the Project and as per terms and conditions of the Agreement shall be borne by and be the liability of the Developer. 5.12.2 If the Developer fails to pay any Taxes, charges, outgoings payments etc., and the same are instead borne by the Authority, then Authority shall be entitled, but not be obliged to pay the same and will be entitled to receive such amounts paid by Authority from the Developer along with interest at a rate of 15% (fifteen percent) per annum. In addition the Developer shall be liable to pay as damages to the Authority 25% (Twenty Five Percent) of the sum total of amount paid by Authority and interest payable to Authority.

Total Project Cost. 5.12.1 The Total Project Cost for successful and timely development, implementation and completion of the entire Project and undertake the works related to Scope of the Project and as per terms and conditions of the Agreement shall be borne by and be the liability of the Developer. 5.12.2 If the Developer fails to pay any Taxes, charges, outgoings payments etc., and the same are instead borne by the Authority, then Authority shall Authorityshall be entitled, but not be obliged to pay the same and will be entitled to receive such amounts paid by Authority from Authorityfrom the Developer along with interest at a rate of 15% (fifteen percent) per annum. In addition the Developer shall be liable to pay as damages to the Authority 25% (Twenty Five Percent) of the sum total of amount paid by Authority and interest payable to Authority.