Common use of Liquidated Damages for Delay Clause in Contracts

Liquidated Damages for Delay. If the COD has not occurred by the Guaranteed Completion Date, Licensee shall pay the Judicial Council as liquidated damages the amount of three hundred dollars ($300) for each calendar day (or part day) after the Guaranteed Completion Date until such time that the COD occurs. If COD has not occurred within ninety (90) calendar days of the Guaranteed Completion Date, the Judicial Council reserves the right to terminate this SLA by written notice to Licensee. The Judicial Council shall retain any Transaction Fee paid or due as of the date of such termination notice, and Licensee shall comply with Section 11.1 and neither Party shall have any further obligation to the other Party.

Liquidated Damages for Delay. If the COD has not occurred by the Guaranteed Completion Date, Licensee shall pay the Judicial Council as liquidated damages the amount of three hundred dollars ($300) for each calendar day (or part day) after the Guaranteed Completion Date until such time that the COD occurs. If COD has not occurred within ninety (90) calendar days of the Guaranteed Completion Date, the Judicial Council reserves the right to terminate this SLA by written notice to Licensee. The Judicial Council shall retain any Transaction Fee paid or due as of the date of such termination notice, and Licensee shall comply with Section section 11.1 and neither Party shall have any further obligation to the other Party.Party.‌