Indemnity for Delay Sample Clauses
The Indemnity for Delay clause requires one party to compensate the other for losses or damages resulting from delays in fulfilling contractual obligations. Typically, this clause applies when a contractor or supplier fails to meet agreed-upon deadlines, and the affected party incurs additional costs or suffers financial harm as a result. By establishing a clear mechanism for recovering losses due to delays, this clause helps allocate risk and incentivizes timely performance, thereby protecting the interests of the party relying on timely completion.
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Indemnity for Delay. 4.4.1 Provided that the completion date is delayed caused due to the reason of the Contractor, the liquidated damages shall be paid to the Employer basing the standard that compensation amount for one day delay is 0.5‰ of the contract price (the maximum amount shall not exceed 10% of the total contract amount);
4.4.2 In case the completion date is delayed caused due to the reason of the Employer, the liquidated damages shall be paid to the Contractor basing the standard that compensation amount for one day delay is 0.5‰ of the contract price (the maximum amount shall not exceed 10% of the total contract amount), meanwhile, the completion date shall be postponed.
Indemnity for Delay. Without limiting the general applicability of the provisions of Article II, or this Article, if the Commercial Operation Date does not occur by the Final CO Date, as such date may be extended pursuant to the provisions of Section 2.1 and Section 18.4, Seller agrees to compensate ▇▇▇▇▇▇▇▇ for any actual damages it suffers or incurs as the result of ▇▇▇▇▇▇▇▇' reliance upon the delivery of Facility Capacity, Ancillary Services and Fuel Conversion Services hereunder, to the extent said damages cannot be mitigated fully. Seller further agrees that the damages ▇▇▇▇▇▇▇▇ may suffer under these circumstances will be any and all reasonable costs incurred by ▇▇▇▇▇▇▇▇ in excess of costs that would have been incurred had the Commercial Operation Date occurred on or before December 31, 2001, as such date may be extended pursuant to Section 2.1 and Section 18.4.
Indemnity for Delay. The Contractor shall bear the liability of indemnity for the losses as a result of delay due to the delay in date for completion caused by the Contractor. Indemnity amount for each day delayed as well as cumulative maximum indemnity amount, are set out in special terms and conditions. The Employer is entitled to deduct the indemnity amount from progress payments, completion settlement payment or performance bond agreed to be submitted.