Examples of Late Completion Payments in a sentence
Many of the tree species on the list are grown in countries which still have large areas of IFLs. These are important to protect due to biodiversity and climate.
Concessionaire’s Review of a recovery plan and Concessionaire’s Approval of a revised TTMS Work Schedule shall not affect any of Concessionaire’s rights or Contractor’s obligations under this Agreement, including Contractor’s obligations to pay Late Completion Payments.
Owner and Contractor hereby acknowledge and agree that the terms, conditions and amounts fixed pursuant to Section 7.2 for Provisional Acceptance Late Completion Payments are reasonable, considering the reduction in value of the Project and the increased costs that it is anticipated Owner will incur in the event of Contractor's failure to achieve at least one of Provisional Acceptance, Interim Acceptance or Final Acceptance of the Facility by the Guaranteed Provisional Acceptance Date.
Notwithstanding anything to the contrary in this Article 8, the total aggregate Performance Guarantee Payments required to be made by Contractor pursuant to this Article 8 shall be equal to the lesser of (i) the aggregate total of the Performance Guarantee Payments due pursuant to the terms of Sections 8.1.1 and 8.1.2, and (ii) the Total LD SubCap set forth in Section 9.1 hereof less all Provisional Acceptance Late Completion Payments made by Contractor pursuant to Article 7 hereof.
Contractor’s liability to Concessionaire under this Agreement for Late Completion Payments and Additional Contractor Delay Payments shall not exceed an amount equal to forty percent (40%) of the Contract Sum.
In no event shall Contractor's liability under this Agreement: (a) for Provisional Acceptance Late Completion Payments, exceed in the aggregate an amount equal to twenty percent (20%) of the Contract Price, which amount is referred to as the "Xxxxx XX SubCap"; and (b) for all Provisional Acceptance Late Completion Payments and Performance Guarantee Payments, exceed in the aggregate an amount equal to forty-five percent (45%) of the Contract Price, which amount is referred to as the "Total LD SubCap".
Substantial Acceptance shall not be withheld because of disputed Late Completion Payments provided that Contractor agrees to supply a Letter of Credit in the amount of such disputed Late Completion Payments and in a form and from a financial institutional reasonably acceptable to Client.
The payment of any Late Completion Payments shall not affect Client’s rights to (i) terminate the Agreement pursuant to Article 15 or (ii) receive liquidated damages pursuant to Article 8.
The Late Completion Payments are in lieu of Concessionaire’s right to terminate this Agreement solely as a result of any schedule delay, except to the extent such delay otherwise constitutes a Contractor Default under Section 15.2.1(v)(A).
Contractor’s total aggregate liability for Late Completion Payments and Performance Guarantee Payments shall not exceed [*]% of the Contract Price.