Common use of Damages for delay by the Authority Clause in Contracts

Damages for delay by the Authority. In the event that (i) the Authority does not procure fulfillment of any or all of the Conditions Precedent set forth in Clause 4.1.2 within the period specified in respect thereof, and (ii) the delay has not occurred as a result of breach of this Agreement by the Concessionaire or due to Force Majeure, the Authority shall pay to the Concessionaire Damages in an amount calculated at the rate of 0.2% (zero point two per cent) of the Performance Security for each day’s delay until the fulfillment of such Conditions Precedent, subject to the maximum limit equal to the amount of the Bid Security and upon reaching such limit, the Concessionaire may, in its sole discretion terminate the Agreement. The Damages payable hereunder shall be the sole remedy available to the Concessionaire for delay by the Authority. Provided further that in the event of delay by the Concessionaire in procuring fulfillment of the Conditions Precedent specified in Clause 4.1.3, no Damages shall be due or payable by the Authority under this Clause 4.2 until the date on which the Concessionaire shall have procured fulfillment of the Conditions Precedent specified in Clause 4.1.3.

Damages for delay by the Authority. In the event that (i) the Authority does not procure fulfillment of fulfillmentof any or all of the Conditions Precedent set forth in Clause 4.1.2 within the period specified in respect thereof, and (ii) the delay has not occurred as a result of breach of this Agreement by the Concessionaire or due to Force Majeure, the Authority shall pay to the Concessionaire Damages in an amount calculated at the rate of 0.2% (zero point two per cent) of the Performance Security for each day’s delay until the fulfillment of such Conditions Precedent, subject to the maximum limit equal to the amount of the Bid Security and Securityand upon reaching such limit, the Concessionaire may, in its sole discretion terminate the Agreement. The Damages payable hereunder shall be the sole remedy available to the Concessionaire for delay by the Authority. Provided further that in the event of delay by the Concessionaire in procuring fulfillment of the Conditions Precedent specified in Clause 4.1.3, no Damages shall be due or payable by the Authority under Authorityunder this Clause 4.2 until the date on which the Concessionaire shall have procured fulfillment of the Conditions Precedent specified in Clause 4.1.3.

Damages for delay by the Authority. In the event that (i) the Authority does not procure fulfillment fulfilment of any or all of the Conditions Precedent set forth in Clause Article 4.1.2 within the period specified in respect thereof, and (ii) the delay has not occurred as a result of breach of this Agreement by the Concessionaire or due to Force Majeure, the Authority shall pay to the Concessionaire Damages in an amount calculated at the rate of 0.20.1% (zero point two one per cent) of the Construction Period Performance Security for each day’s delay until the fulfillment fulfilment of such Conditions Precedent, subject to the maximum limit equal to 20% of the aggregate amount of the Bid Construction Period Performance Security and upon reaching such limit, the Concessionaire may, in its sole discretion terminate the Agreement. The Damages payable hereunder shall be the sole remedy available to the Concessionaire for delay by the Authority. Provided further that in the event of delay by the Concessionaire in procuring fulfillment fulfilment of the Conditions Precedent specified in Clause Article 4.1.3, no Damages shall be due or payable by the Authority under this Clause Article 4.2 until the date on which the Concessionaire shall have procured fulfillment fulfilment of the Conditions Precedent specified in Clause Article 4.1.3.

Damages for delay by the Authority. In the event that (i) the Authority does not procure fulfillment fulfilment of any or all of the Conditions Precedent set forth in Clause Article 4.1.2 within the period specified in respect thereof, and (ii) the delay has not occurred as a result of breach of this Agreement by the Concessionaire or due to Force Majeure, the Authority shall pay to the Concessionaire Damages in an amount calculated at the rate of 0.20.1% (zero point two one per cent) of the Performance Construction PeriodPerformance Security for each day’s delay until the fulfillment fulfilment of such Conditions Precedent, subject to the maximum limit equal to 20% of the aggregate amount of the Bid Construction Period Performance Security and upon reaching such limit, the Concessionaire may, in its sole discretion terminate the Agreement. The Damages payable hereunder shall be the sole remedy available to the Concessionaire for delay by the Authority. Provided further that in the event of delay by the Concessionaire in procuring fulfillment fulfilment of the Conditions Precedent specified in Clause Article 4.1.3, no Damages shall be due or payable by the Authority under this Clause Article 4.2 until the date on which the Concessionaire shall have procured fulfillment fulfilment of the Conditions Precedent specified in Clause Article 4.1.3.

Damages for delay by the Authority. In the event that (i) the Authority does not procure fulfillment fulfilment of any or all of the Conditions Precedent set forth in Clause 4.1.2 within the period specified in respect thereof, and (ii) the delay has not occurred as a result of breach of this Agreement by the Concessionaire or due to Force Majeure, the Authority shall pay to the Concessionaire Concessionaire, Damages in an amount calculated at the rate of 0.20.1% (zero point two one per cent) of the Performance Security for each day’s delay until the fulfillment fulfilment of such Conditions Precedent, subject to the a maximum limit equal to the amount of 20% (twenty per cent) of the Bid Security and upon reaching Performance Security, provided further that such limit, Damages for delay by the Concessionaire may, in its sole discretion terminate the AgreementAuthority for non-fulfilment of Conditions Precedent shall be payable within 30 (thirty) days of achievement of fulfilment of Conditions Precedent. The Damages payable hereunder shall be the sole remedy available to the Concessionaire for delay by the Authority. Provided further that in the event of delay by the Concessionaire in procuring fulfillment fulfilment of the Conditions Precedent specified in Clause 4.1.3, no Damages shall be due or payable by the Authority under this Clause 4.2 until the date on which the Concessionaire shall have procured fulfillment fulfilment of the Conditions Precedent specified in Clause 4.1.3.