Daily definition
Examples of Daily in a sentence
The Daily Periodic Rate (DPR) is 1/365th of the APR, rounded to the nearest one ten-thousandth of a percentage point.
If Seller has not delivered to Buyer a Xxxxx XX Liability Extension Notice for any period after the Daily Delay Damages Cap has been reached, then Buyer shall have the right to terminate this Agreement upon ten (10) Business Days' notice to Seller (provided that Commercial Operation has not been achieved or Seller has not delivered another Xxxxx XX Liability Extension Notice) (such termination, an “Extended Delay Termination”).
Seller’s aggregate liability for Daily Delay Damages shall not exceed the amount of the Development Security required to be posted pursuant to Section 5.3(a) (“Daily Delay Damages Cap”).
If Seller’s liability for Daily Delay Damages exceeds the Daily Delay Damages Cap, Seller shall have the option to pay Daily Delay Damages in excess of the Daily Delay Damages Cap, which option shall be exercised by Seller in a written notice delivered to Buyer that covers periods of at least ten (10) Business Days each (a “Xxxxx XX Liability Extension Notice”) and payment of additional Daily Delay Damages.
The Parties agree that (i) the damages that Xxxxx would incur due to Seller’s failure to timely achieve the Guaranteed Commercial Operation Date would be difficult or impossible to predict with certainty, and it is impractical or difficult to assess actual damages in those circumstances, and (ii) the Daily Delay Damages are a fair and reasonable calculation of such damages for Seller’s failure to achieve Commercial Operation by the Guaranteed Commercial Operation Date.