Common use of Liquidated Damages Collection and Related Expenses Clause in Contracts

Liquidated Damages Collection and Related Expenses. If a Member fails to 8 resolve a breach of this Agreement through voluntary compliance measures approved by the Enforcement 9 Committee and performed by such Member on a timely basis, the Member in breach shall pay the 10 liquidated damages amount assessed by the Sector within ten (10) days of the end of the voluntary 11 compliance period described in Section 10.9, above. Liquidated damages amounts not paid when due 12 shall accrue interest at a rate of interest equal to the prime rate of interest announced by Bank of America, 13 or such other bank as the Board may select from time to time, as of the last day of the voluntary 14 compliance period plus twelve percent (12%). If a Member fails to pay the liquidated damages amount 15 assessed by the Enforcement Committee with interest within thirty (30) days of the end of the voluntary 16 compliance period described in Section 10.9, above, the Sector may pursue legal action to collect the 17 liquidated damages. In addition, in connection with Member breaches resulting from an over‐harvest of

Liquidated Damages Collection and Related Expenses. If a Member fails to 8 6 resolve a breach of this Agreement through voluntary compliance measures approved by the Enforcement 9 7 Committee and performed by such Member on a timely basis, the Member in breach shall pay the 10 8 liquidated damages amount assessed by the Sector within ten (10) days of the end of the voluntary 11 9 compliance period described in Section 10.9, above. Liquidated damages amounts not paid when due 12 10 shall accrue interest at a rate of interest equal to the prime rate of interest announced by Bank of America, 13 11 or such other bank as the Board may select from time to time, as of the last day of the voluntary 14 12 compliance period plus twelve percent (12%). If a Member fails to pay the liquidated damages amount 15 13 assessed by the Enforcement Committee with interest within thirty (30) days of the end of the voluntary 16 14 compliance period described in Section 10.9, above, the Sector may pursue legal action to collect the 17 15 liquidated damages. In addition, in connection with Member breaches resulting from an over‐harvest of

Liquidated Damages Collection and Related Expenses. If a Member fails to 8 4 resolve a breach of this Agreement through voluntary compliance measures approved by the Enforcement 9 5 Committee and performed by such Member on a timely basis, the Member in breach shall pay the 10 6 liquidated damages amount assessed by the Sector within ten (10) days of the end of the voluntary 11 7 compliance period described in Section 10.9, above. Liquidated damages amounts not paid when due 12 8 shall accrue interest at a rate of interest equal to the prime rate of interest announced by Bank of America, 13 9 or such other bank as the Board may select from time to time, as of the last day of the voluntary 14 10 compliance period plus twelve percent (12%). If a Member fails to pay the liquidated damages amount 15 11 assessed by the Enforcement Committee with interest within thirty (30) days of the end of the voluntary 16 12 compliance period described in Section 10.9, above, the Sector may pursue legal action to collect the 17 13 liquidated damages. In addition, in connection with Member breaches resulting from an over‐harvest of