Liability and Damages. 15.1 The Parties agree that the failure of any Party to perform its obligations under this Agreement (exclusive of a Party’s breach of its obligation under this Agreement to make in a timely manner a payment to a Constructing Party with respect to any Cost of Work performed by such Constructing Party or to bear such Cost) may result in damages to other Parties, but that such damages are indefinite and difficult to quantify. Therefore, in lieu of any other remedy for monetary damages, the Parties agree that in the event of a material breach of this Agreement by any Party (“Breaching Party”) that is not cured within a period of sixty (60) days following such Breaching Party’s receipt of written notice from any other Party of such breach, the Breaching Party shall pay to ColumbiaGrid the following amounts as liquidated damages and not as a penalty:
Appears in 4 contracts
Samples: Facilities Agreement, Facilities Agreement, Facilities Agreement
