Daily Delay Damages definition

Daily Delay Damages means with respect to a Guaranteed Project Milestone, an amount equal to (a) the Project Development Security Amount posted as of the first date that Daily Delay Damages are payable under this Agreement with respect to such Guaranteed Project Milestone, divided by (b) 120.

Daily Delay Damages. Shall have the meaning set forth in Section 13.4(a) (Daily Delay Damages) of this Agreement.

Daily Delay Damages means an amount equal to (a) the Development Security amount required hereunder, divided by (b) one hundred twenty (120).

Examples of Daily Delay Damages in a sentence

• Company shall draw upon the Development Period Security on a monthly basis for payment of the total Daily Delay Damages incurred by Seller during the preceding calendar month.

• Buyer shall be entitled to draw upon the Project Development Security posted by Seller for Daily Delay Damages until such time as the Project Development Security is exhausted.

• The Guaranteed Commercial Operation Date may be extended on a day-to-day basis, corresponding to the number of days for which Seller has paid Daily Delay Damages, for a cumulative period of not more than six (6) months (“Daily Delay Damages Extension”).

• Daily Delay Damages payments applicable to days included in any Daily Delay Damages Extension are nonrefundable and are in addition to, and not a part of, the Project Development Security; provided that Seller will be entitled to a refund (without interest) of any estimated Daily Delay Damages payments paid by Seller to Buyer which exceed the amount required to cover the number of days by which the Guaranteed Commercial Operation Date was actually extended.

• For sake of certainty, Buyer shall retain all Daily Delay Damages drawn (or which Buyer is entitled to draw) as a result of Seller’s failure to meet the Guaranteed Commercial Operation Date and the Guaranteed Construction Start Date (both as may be extended by Permitted Extensions), if Seller fails to meet the Guaranteed Commercial Operation Date (as may be extended by Permitted Extensions).

More Definitions of Daily Delay Damages

Daily Delay Damages means with respect to the Guaranteed Commercial Operation Date, an amount equal to (a) divided by (b), where (a) is $60/kW multiplied by the Contract Capacity of the Project as reflected in Section B of the Cover Sheet, and (b) is the number 180.

Daily Delay Damages means liquidated damages paid by Seller to Buyer in the amount of $[XX,XXX] per day for each day of delay in the months of June, July, August and September and $[XX,XXX] per day for each day of delay in the other months of the year. [NOTE to Bidders: this is the total security required during development divided by the number of days in the Cure Period]

Daily Delay Damages means with respect to the Guaranteed Commercial Operation Date, an amount equal to (a) divided by (b), where (a) is $60/kW multiplied by the Contract Capacity of the Project as reflected in Section B of the Cover Sheet, and (b) is the number 120.

Daily Delay Damages has the meaning set forth in Section 2.5(e).

Daily Delay Damages has the meaning set forth in Section 11.6(a)(i).

Daily Delay Damages means with respect to a Guaranteed Project Milestone, an amount equal to (a) the Project Development Security Amount posted as of the first date that Daily Delay Damages are payable under this Agreement with respect to such Guaranteed Project Milestone, divided by (b) one hundred and eighty (180).

Daily Delay Damages means an amount equal to (a) the Development Security amount required hereunder, divided by (b)