Early Termination; Late Completion Payment Sample Clauses

Early Termination; Late Completion Payment. 39 8.3 Early Completion Payment 40 ARTICLE 9 Performance Guaranties and Remedies 40 9.1 Facilities Capacity Guaranty 40 9.2 Tanker Loading Guaranty 40 9.3 Reliability Guaranty 40 9.4 Performance Remedies 40
Sample 1
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Early Termination; Late Completion Payment. If either the Basic Engineering Phase or the Detailed Engineering Phase is not completed on or before the applicable Guaranteed Completion Date, and provided the delay does not exceed sixty (60) days, then the period of delay (not to exceed sixty (60) days for each Phase) shall be deemed to be a cure period for completing that Phase, and the Land Acquisition and Construction Phase shall be reduced by the total number of days required to effect cure for both such Phases, up to a total of one hundred twenty (120) days. In the event of any delay exceeding sixty (60) days beyond the Guaranteed Completion Date for either of the first two Phases, then the MEP Participants shall have the right to terminate this Agreement pursuant to Section 16.3. If the MEP Participants do not issue Notice to Proceed with the Basic Engineering Phase, the Detailed Engineering Phase or the Land Acquisition and Construction Phase within the time limits described in Section 8.1 the Turnkey Contractor shall have the right to terminate this Agreement pursuant to Section 5.3. If Provisional Acceptance does not occur on or before the Guaranteed Completion Date for the Land Acquisition and Construction Phase, the Turnkey Contractor shall pay to the MEP Participants, as liquidated damages and not as a penalty, an amount equal to five-hundred- thousand Dollars ($500,000) per calendar day (the “Late Completion Payment”), for each calendar day by which Provisional Acceptance is later than the Guaranteed Completion Date. Payment of the Late Completion Payment by the Turnkey Contractor shall be limited to a maximum of two hundred forty (240) days. Notwithstanding the payment by the Turnkey Contractor of the Late Completion Payments for two hundred forty (240) days, if Provisional Acceptance is delayed by more than two hundred forty (240) days beyond the Guaranteed Completion Date for the Land Acquisition and Construction Phase, the MEP Participants shall have the right to terminate this Agreement.
Sample 1

Related to Early Termination; Late Completion Payment

  • Early Termination Fee After this contract goes into effect, if you terminate this contract for any reason, or switch your service to a different electricity generation supplier or default service supplier prior to the end of the contract term, you will be responsible for paying XOOM Energy an early termination fee in the amount of $500. This Early Termination Fee is intended not as a penalty, but simply to offset the cost of selling the unused portion of your electric power to others and estimated lost revenue that XOOM may incur from such a sale, if any, and related expenses.

  • Early Termination Charges A-48 If this Agreement is terminated prior to its End Date pursuant to Clauses 42A-42, 43(a) or A- 43(c), the Home Customer shall pay to the Company an Early Termination Charge equivalent to (Termination Rate x Unexpired Months) where:

  • Termination Payment The final payment delivered to the Certificateholders on the Termination Date pursuant to the procedures set forth in Section 9.01(b).

  • Early Termination In the absence of any material breach of this Agreement, should the Trust elect to terminate this Agreement prior to the end of the term, the Trust agrees to pay the following fees:

  • Early Termination Fees The amount of an Early Termination Fee that we are entitled to charge is:

  • TERMINATION ALLOWANCE In the event of closure of all or part of the Employer’s retail store, which results in the permanent lay-off of any employees, the employer agrees to pay each employee so affected, in accordance with Company policy, the following: • Less than one (1) completed year of service: according to Employment Standards (if any). • A year or more but less than five (5) completed years of service: one (1) week’s pay for each completed year of service. • More than five (5) completed years of service: five (5) weeks for the first five (5) years of service plus one and a half (1.5) weeks per completed year of service for each subsequent year up to a maximum of thirty (30) weeks in total.

  • Payment on Early Termination Upon termination pursuant to Section 14 (Early Termination), District shall pay Contractor as follows:

  • EARLY TERMINATIONS The Student may be released from this agreement for:

  • Early Termination Date The date upon which an Early Termination becomes effective as specified in Section 5.2 of this Agreement. Effective Date - The date specified above as the effective date. Electric Distribution Company or “EDC” – A public utility providing facilities for the transmission and distribution of electricity to retail customers in Pennsylvania. Electric Generation Supplier or “EGS” – A person or entity that is duly certified by the Commission to offer and provide competitive electric supply to retail customers located in the Commonwealth of Pennsylvania.

  • Underutilization and Early Termination Charges If Customer's Total Service Charges do not reach the AVC, in any Contract Year during the Initial Term; Customer shall pay an “Underutilization Charge” equal to 50% of the unmet AVC. If Customer’s Total Service Charges do not reach the AVC in any Contract Year because the Agreement is terminated early by Customer without Cause or by the Company with Cause, Customer shall pay an “Early Termination Charge” equal to 50% of the unmet AVC plus a pro rata portion of any credits received by Customer.

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