Completion Cure Period definition
Examples of Completion Cure Period in a sentence
The amount of liquidated damages is agreed upon and fixed hereunder because of the difficulty of ascertaining the exact amount of damages that would actually be incurred by Buyer if Substantial Completion is not achieved during the Substantial Completion Cure Period, and Buyer and Seller agree that the liquidated damages specified herein shall be applicable regardless of the amount of such damages actually incurred by Buyer.
If ▇▇▇▇’s lender(s) fails to complete said construction by the last day of the Additional Lender Completion Cure Period, the City may terminate this Agreement by written notice to SiFi and its lender(s).
If SiFi fails to cure said deficiency by the last day of the Additional SiFi Completion Cure Period, SiFi’s lender(s) shall have an additional ninety (90) days from the end of the Additional SiFi Completion Cure Period to achieve Substantial Completion complete construction (the “Additional Lender Completion Cure Period”).
Buyer and Seller hereby acknowledge and agree that the terms, conditions and amounts fixed pursuant to the payment of liquidated damages provided herein are reasonable and will not constitute a penalty, considering the delay and the actual costs that Buyer will incur due to any Turbine Generator Unit failing to achieve Substantial Completion within the Substantial Completion Cure Period due to the sole fault or negligence of Seller.