Common use of Financial Consequences for Failure to Timely and Satisfactorily Perform Clause in Contracts

Financial Consequences for Failure to Timely and Satisfactorily Perform. Contractor and DEO agree that Contractor’s failure to timely and satisfactorily perform all or a portion of the Deliverables and Tasks set forth in this Scope of Work, Sections 1.4 and Sections 1.6, in accordance with the requirements of this Contract, and in particular, as specified in this Scope of Work, Section 1.3 and Section 1.5, shall result in substantial injury to DEO; however, damages arising from such failure cannot be calculated with any degree of certainty. Consequently, Contractor and DEO agree that the Financial Consequences and Liquidated Damages set forth in this Contract, individually and cumulatively, are intended to compensate DEO for same and not intended to penalize or punish Contractor. In the event that Contractor’s performance of a Deliverable or Task is deemed unsatisfactory by DEO, Contractor shall not be entitled to payment for same until Contractor re-performs as needed for submittal of a satisfactory Deliverable or Task at no additional cost to DEO. Furthermore, in the event that Contractor’s performance of a Deliverable or Task is deemed unsatisfactory or untimely by DEO, the Financial Consequences set forth in this Scope of Work, Section 1.4 and Section 1.6, shall be imposed. Nothing in this Contract, including but not limited to this Scope of Work, Section 9.0, shall be construed to waive, hinder, or otherwise interfere with any other rights, remedies, and privileges, in law or in equity, held by DEO with respect to this Contract and Contractor’s performance hereunder, including but not limited to, XXX’s right to terminate the Contract as provided. Notwithstanding any other terms in the Contract., if Contractor’s non-compliance with any provision of the Contract results in additional cost or monetary loss to DEO or the State of Florida, DEO can recoup that cost or loss from monies owed to Contractor under this Contract or any other contract between Contractor and any State entity. In the event the discovery of this cost or loss arises when no monies are available under this Contract or any other contract between Contractor and any State entity, Contractor will repay such cost or loss in full to DEO within 30 days of the date of notice of the amount owed, unless DEO agrees, in writing, to an alternative timeframe.

Financial Consequences for Failure to Timely and Satisfactorily Perform. Contractor and DEO agree that Contractor’s failure to timely and satisfactorily perform all or a portion of the Deliverables and Tasks set forth in this Scope of Work, Sections 1.4 and Sections 1.6Section 1.3, in accordance with the requirements of this Contract, and in particular, as specified in this Scope of Work, Section 1.3 and Section 1.51.2, shall result in substantial injury to DEO; however, damages arising from such failure cannot be calculated with any degree of certainty. Consequently, Contractor and DEO agree that the Financial Consequences and Liquidated Damages set forth in this Contract, individually and cumulatively, are intended to compensate DEO for same and not intended to penalize or punish Contractor. In the event that Contractor’s performance of a Deliverable or Task is deemed unsatisfactory by DEO, Contractor shall not be entitled to payment for same until Contractor re-performs as needed for submittal of a satisfactory Deliverable or Task at no additional cost to DEO. Furthermore, in the event that Contractor’s performance of a Deliverable or Task is deemed unsatisfactory or untimely by DEO, the Financial Consequences set forth in this Scope of Work, Section 1.4 and Section 1.61.3, shall be imposed. Nothing in this Contract, including but not limited to this Scope of Work, Section 9.0, shall be construed to waive, hinder, or otherwise interfere with any other rights, remedies, and privileges, in law or in equity, held by DEO with respect to this Contract and Contractor’s performance hereunder, including but not limited to, XXXDEO’s right to terminate the Contract as provided. Notwithstanding any other terms in the Contract., if Contractor’s non-compliance with any provision of the Contract results in additional cost or monetary loss to DEO or the State of Florida, DEO can recoup that cost or loss from monies owed to Contractor under this Contract or any other contract between Contractor and any State entity. In the event the discovery of this cost or loss arises when no monies are available under this Contract or any other contract between Contractor and any State entity, Contractor will repay such cost or loss in full to DEO within 30 days of the date of notice of the amount owed, unless DEO agrees, in writing, to an alternative timeframe.

Financial Consequences for Failure to Timely and Satisfactorily Perform. Contractor and DEO agree that Contractor’s failure to timely and satisfactorily perform all or a portion of the Deliverables and Tasks set forth in this Scope of Work, Sections 1.4 and Sections 1.6Section 1.3, in accordance with the requirements of this Contract, and in particular, as specified in this Scope of Work, Section 1.3 and Section 1.51.2, shall result in substantial injury to DEO; however, damages arising from such failure cannot be calculated with any degree of certainty. Consequently, Contractor and DEO agree that the Financial Consequences and Liquidated Damages set forth in this Contract, individually and cumulatively, are intended to compensate DEO for same and not intended to penalize or punish Contractor. In the event that Contractor’s performance of a Deliverable or Task is deemed unsatisfactory by DEO, Contractor shall not be entitled to payment for same until Contractor re-performs as needed for submittal of a satisfactory Deliverable or Task at no additional cost to DEO. Furthermore, in the event that Contractor’s performance of a Deliverable or Task is deemed unsatisfactory or untimely by DEO, the Financial Consequences set forth in this Scope of Work, Section 1.4 and Section 1.61.3, shall be imposed. Nothing in this Contract, including but not limited to this Scope of Work, Section 9.0, shall be construed to waive, hinder, or otherwise interfere with any other rights, remedies, and privileges, in law or in equity, held by DEO with respect to this Contract and Contractor’s performance hereunder, including but not limited to, XXX’s right to terminate the Contract as provided. Notwithstanding any other terms in the Contract., if Contractor’s non-compliance with any provision of the Contract results in additional cost or monetary loss to DEO or the State of Florida, DEO can recoup that cost or loss from monies owed to Contractor under this Contract or any other contract between Contractor and any State entity. In the event the discovery of this cost or loss arises when no monies are available under this Contract or any other contract between Contractor and any State entity, Contractor will repay such cost or loss in full to DEO within 30 days of the date of notice of the amount owed, unless DEO agrees, in writing, to an alternative timeframe.

Financial Consequences for Failure to Timely and Satisfactorily Perform. Contractor and DEO agree that Contractor’s failure to timely and satisfactorily perform all or a portion of the Deliverables and Tasks set forth in this Scope of Work, Sections 1.4 and Sections 1.6Section 1.3, in accordance with the requirements of this Contract, and in particular, as specified in this Scope of Work, Section 1.3 and Section 1.51.2, shall result in substantial injury to DEO; however, damages arising from such failure cannot be calculated with any degree of certainty. Consequently, Contractor and DEO agree that the Financial Consequences and Liquidated Damages set forth in this Contract, individually and cumulatively, are intended to compensate DEO for same and not intended to penalize or punish Contractor. In the event that Contractor’s performance of a Deliverable or Task is deemed unsatisfactory by DEO, Contractor shall not be entitled to payment for same until Contractor re-performs as needed for submittal of a satisfactory Deliverable or Task at no additional cost to DEO. Furthermore, in the event that Contractor’s performance of a Deliverable or Task is deemed unsatisfactory or untimely by DEO, the Financial Consequences set forth in this Scope of Work, Section 1.4 and Section 1.61.3, shall be imposed. Financial Consequences may only be applied if the failure is solely the result of Contractors actions or the delay in completing the task is solely attributed to the Contractor. Nothing in this Contract, including but not limited to this Scope of Work, Section 9.0, shall be construed to waive, hinder, or otherwise interfere with any other rights, remedies, and privileges, in law or in equity, held by DEO with respect to this Contract and Contractor’s performance hereunder, including but not limited to, XXXDEO’s right to terminate the Contract as provided. Notwithstanding any other terms in the Contract., if Contractor’s non-compliance with any provision of the Contract results in additional cost or monetary loss to DEO or the State of Florida, DEO can recoup that cost or loss from monies owed to Contractor under this Contract or any other contract between Contractor and any State entity. In the event the discovery of this cost or loss arises when no monies are available under this Contract or any other contract between Contractor and any State entity, Contractor will repay such cost or loss in full to DEO within 30 days of the date of notice of the amount owed, unless DEO agrees, in writing, to an alternative timeframe.