For Delay in Final Completion Sample Clauses

For Delay in Final Completion. If the Contractor fails to achieve Final Completion of the Work within the Contract Time specified in section 5.1 for Final Completion, the Owner shall be entitled to retain or recover from the Contractor as liquidated damages and not as a penalty, the sum of <<Printed Dollar Amount>> Dollars (U.S.) ($<<Numerical Dollar Amount)>> per calendar day commencing upon the first day following expiration of the Contract Time specified for Final Completion and continuing until the actual date of Final Completion. Contractor and Owner agree that all amounts payable hereunder by Contractor shall be payable, not as a penalty, but as liquidated damages representing an estimate of delay damages likely to be sustained by Owner, estimated at the time of executing this Agreement, as a result of delayed Final Completion of the Work. When Owner reasonably believes that Final Completion will be inexcusably delayed, Owner shall be entitled, but not required, to withhold from any amounts otherwise due Contractor an amount then believed by Owner to be adequate to recover liquidated damages applicable to the delay in achieving Final Completion, or any part thereof. Any liquidated damages not so withheld shall be payable by Contractor to Owner upon demand by Owner plus interest from the date of demand at the highest legal rate.

For Delay in Final Completion. If Construction Manager fails to achieve Final Completion within sixty (60) days after Substantial Completion, Construction Manager shall pay Owner Construction Manager shall pay Owner the amount of TWO HUNDRED AND FIFTY DOLLARS ($250,00) per day for each and every calendar day of unexcused delay in achieving Final Completion. Any sums due and payable hereunder by Construction Manager shall be payable, not as a penalty, but as liquidated damages representing an estimate of delay damages likely to be sustained by Owner, estimated at the onstr uction Manager to, records of costs and he co time of executing this Agreement. When Owner reasonably believes that Final Completion will be unexcusably delayed, Owner shall be entitled, but not required, to withhold from any amounts otherwise due Construction Manager an amount then believed by Owner to be adequate to recover liquidated damages applicable to such delays. If and when Construction Manager overcomes the delay in achieving Final Completion, for which Owner has withheld payment, Owner shall promptly release to Construction Manager those funds withheld, but no longer applicable, as liquidated damages.