Common use of Late Delivery Penalty Clause in Contracts

Late Delivery Penalty. So long as Buyer shall have performed --------------------- all of its obligations under this Agreement, shall have satisfied the conditions described in clauses (i) and (ii) of Section 5.9.2, and is otherwise ready, willing and able to proceed with the Closing on the Closing Date, there shall be a reduction in the Purchase Price of the sum of Ten-Thousand Dollars ($10,000.00) for each such day the Closing is delayed after the Closing Date solely by reason of Seller's inability to accomplish the complete vacation of the Property (other than the Reserved Areas) and otherwise satisfy the conditions described in clauses (i), (iii), (iv) and (v) of Section 5.9. 1. The reduction in the Purchase Price under this Section 2.6 shall be limited to a maximum of Eight-Hundred Thousand Dollars ($800,000.00).

Late Delivery Penalty. So long as Buyer shall have performed --------------------- all of its obligations under this Agreement, shall have satisfied the conditions described in clauses (i) and (ii) of Section 5.9.2, and is otherwise ready, willing and able to proceed with the Closing on the Closing Date, there shall be a reduction in the Purchase Price of the sum of Ten-Ten Thousand Dollars ($10,000.00) for each such day the Closing is delayed after the Closing Date solely by reason of Seller's inability to accomplish the complete vacation of the Property (other than the Reserved Areas) and otherwise satisfy the conditions described in clauses (i), (iii), (iv) and (v) of Section 5.9. 1. The reduction in the Purchase Price under this Section 2.6 shall be limited to a maximum of Eight-Five Hundred Thousand Dollars ($800,000.00500,000.00).