Amounts Reasonable Clause Samples

Amounts Reasonable. The Parties agree that the terms, conditions and amounts fixed as liquidated damages pursuant to Section 8.2.3 for Late Provisional Acceptance Payments are reasonable, considering the actual losses that Owner will incur if Contractor fails to achieve Provisional Acceptance of a System by the Guaranteed Provisional Acceptance Date for such System. The amounts of these liquidated damages are agreed upon and fixed hereunder by the Parties because of the difficulty of ascertaining the exact amount of losses that Owner will actually incur in such event, and the Parties agree that such amounts are a reasonable estimate of Owner’s probable loss (and are not a penalty) and that such amounts will be applicable regardless of the actual losses incurred by Owner. The receipt of any such liquidated damages will not affect, nor be affected by, Owner’s rights to terminate this Agreement pursuant to Sections 23.4 or 23.5.