Failure to Achieve Full Operations Date Clause Samples

Failure to Achieve Full Operations Date. In the event that Seller fails to achieve the Full Operations Date on or before twenty-four (24) after the Effective Date (except to the extent such failure is excused by an event of Force Majeure, in which case the twenty-four (24) months shall be extended for each day of Force Majeure, or is already the subject of a day-for-day extension under the last paragraph of Section 2.2) and unless this Agreement has not been terminated by Buyer or Seller pursuant to Section 2.2, Seller shall pay Buyer the amount of three hundred dollars ($300.00) per day, as liquidated damages and not as a penalty, until the Full Operations Date is achieved. Subject to Buyer’s right to terminate this Agreement pursuant to Section 2.2(f) and 8.2(f), Seller’s payment of liquidated damages under this Section 9.4 shall be Buyer’s sole and exclusive remedy for Seller’s failure to achieve the Full Operations Date in accordance with this Section 9.4; provided, however, that in no event shall Seller’s aggregate liability for liquidated damages under this Section 9.4 exceed one hundred nine thousand five hundred dollars ($109,500.00).