PENALTIES. In case of failure to comply with the agreed conditions or incorrect fulfillment of contractual obligations, a penalty (0.5% of the contract value for each day of delay, up to a maximum of 10%) will be applied according to the criteria detailed in the Technical Specification. In case of application of penalties, the rights to compensation for damage or to the dissolution of the contract still remain applicable.
PENALTIES. In the event of failure to comply with the established terms to be considered mandatory for the delivery of the Materials, Products or for the performance of Services or part of them, including the required documentation and certification, whatever the cause, subject only to proven cases of force majeure that the Supplier shall promptly report in writing, a penalty equal to 0.5 % will be applied to the Supplier for each day of delay, up to a maximum of 10 (ten) % of the value of the ODA purchase, without prejudice to its right to claim the further damage. 12.
PENALTIES. 22.1 Subject to GCC Clause 25, if the supplier fails to deliver any or all of the goods or to perform the services within the period(s) specified in the contract, the purchaser shall, without prejudice to its other remedies under the contract, deduct from the contract price, as a penalty, a sum calculated on the delivered price of the delayed goods or unperformed services using the current prime interest rate calculated for each day of the delay until actual delivery or performance. The purchaser may also consider termination of the contract pursuant to GCC Clause 23.
PENALTIES. Orders which include penalty clauses will not be accepted. The acceptance of any orders in which the Customer has included penalty clauses does not imply tacit acceptance of the penalty on Xxxxxx'x part. Should Xxxxxx accept any penalty clauses, it will only do so in writing, specifying its express consent. Likewise, Xxxxxx will not accept any penalties arising from complaints which have not been first discussed with and approved by it. Therefore, any invoices sent in by the Customer and containing penalties will be automatically rejected, unless these penalties have been discussed with and approved by Xxxxxx beforehand. 10.
PENALTIES. In the event of a default in performance by the contractor, the Township will suffer damages. Certain of these damages may be reasonably ascertained; however, others consist of intangible losses, which are difficult to accurately calculate and assess. For those tangible losses the contractor shall be liable for, the Township may deduct from any amount then due to the contractor, liquidated damages in the amount of $200.00 per day for each failure on the part of the contractor to perform any of the “terms and conditions” described herein. The sum determined pursuant to this paragraph is not a penalty, but an attempt to reasonably forecast the potential harm due to intangible losses caused by the contractor’s breach. The contractor acknowledges that in submitting its bid and in accepting the award of this contract, it has ascertained the risk of non-performance under this paragraph to the same extent as if the contractor and the Township had negotiated the amount of liquidated damages at arm’s length. The election of the Township to refrain from assessing liquidated damages for any failure of the contractor shall not constitute a waiver on the part of the Township in the event it shall later elect to terminate the contractor for breach, or to collect liquidated damages as specified herein. If the amount of liquidated damages due from the contractor exceeds the amount of all monies due and to become due to the contractor, the contractor shall pay the balance to the Township. Nothing herein shall prohibit the Township from pursuing any claim for compensatory damages for all actual losses resulting from the contractor’s failure to comply with the terms of the contract.
PENALTIES. In case of any delayed delivery, the Supplier must pay Ascom s.r.l. a conventional penalty for an amount of 0.5% of the total amount of the supply for each week of delay, within the first two weeks, and for an amount of 1% within any further weeks, up to a maximum of 5% of the total amount of the supply. Penalties can be deducted by Ascom s.r.l. from the payments due. If Ascom s.r.l. does not pursue this option, the Supplier is in any case obliged to pay such a penalty against presentation of the invoice from Ascom s.r.l. . If the delay is greater than 3 months , Ascom
PENALTIES. Any Party defaulting the provisions of the Agreement will be bound to pay a penalty amounting to five percent of value of the Hera shares held at the moment of default, calculated as the average of the official stock exchange price of Hera shares over the 15 stock market days prior to the date of the default.
PENALTIES. Any Party defaulting the provisions of the Agreement, will be bound to pay a penalty of either (a) € 5,000,000 or
PENALTIES. In the event of failure or incorrect or delayed fulfillment of the contractual services, a penalty equal to 0.3‰ of the contractual amount will be applied for each day of delay with a maximum of 10%, according to the criteria detailed in the Technical Specifications. The fixing of the penalties does not preclude the compensation of any further damages or the termination of the contract if the amount of the penalties reaches the amount of the definitive guarantee