Examples of Substantial Completion Deadline in a sentence
The fact that the Authority has agreed to accept Liquidated Damages as compensation for its damages associated with a delay in meeting the Substantial Completion Deadline shall not preclude the Authority from exercising its other rights and remedies available at law or in equity other than the right to collect compensation for other damages associated with such delay.
Therefore, the Contractor and Authority have agreed to a stipulated amount to be paid by the Contractor in the event the Contractor fails to achieve Substantial Completion by the Substantial Completion Deadline.
The Contractor acknowledges and agrees that the Liquidated Damages are intended to compensate the Authority solely for the Contractor’s failure to meet the Substantial Completion Deadline, and shall not excuse the Contractor from liability from any other breach of the Contract requirements, including any failure of the Work to conform to applicable requirements.
If the Work is brought to Project Substantial Completion before the Project Substantial Completion Deadline, the contract sum stated in Article 4 (Option 1 or Option 2) below shall be increased, as indicated, by an Incentive Payment calculated in accordance with the Incentive Payment Addendum, consistent with Program Obligations.
In no event will the Substantial Completion Deadline be extended beyond the Guaranteed Commercial Operation Deadline.