specified sum definition
Examples of specified sum in a sentence
If Purchaser breaches this Agreement, and the transaction contemplated by this Agreement fails to close by reason thereof, Seller shall be entitled to terminate this Agreement and retain the amount of the Deposit plus any accrued interest thereon (the "Specified Sum") as liquidated damages.
Where a change is requested as a result of an emergency, the Client and Cloud9 agree that the changes shall take effect immediately and Cloud9 shall be entitled to confirm the changes made and any revision to the Specified Sum at a later date.
Cloud9 will inform the Client of any changes in the Specified Sum in writing in advance and these changes will not be valid until accepted in writing by the Client.
The Specified Sum in relation to each Specified Service shall be the sum detailed in, or calculated in accordance with, the Schedule(s) annexed to this Agreement relating to such Specified Service, and it will be exclusive of any VAT that may be chargeable.
In the event that a Schedule does not include a Specified Sum or that services are provided beyond the scope of a Schedule or Specified Service, such services shall be charged based on the Supplier’s daily rates from time to time, based on a minimum of a four hour day and a maximum of an eight hour day.