Common use of Liquidated Damages Reasonable Clause in Contracts

Liquidated Damages Reasonable. Concessionaire and Contractor hereby acknowledge and agree that the terms, conditions and amounts fixed pursuant to Section 7.2 for Late Completion Payments and pursuant to Section 7.5 for Lane Closure Payment are fair and reasonable, considering the reduction in value of the DB Project to Concessionaire and the actual costs that Concessionaire will incur in the event of Contractor’s failure to achieve Substantial Completion by the Guaranteed Substantial Completion Date and/or Final Acceptance by the Guaranteed Final Acceptance Date or to re-open the lanes to traffic after the temporary closure thereof. The amount of liquidated damages is agreed upon and fixed hereunder because of the difficulty of ascertaining the exact amount of Losses that will be actually incurred by Concessionaire for late occurrence of Substantial Completion, Final Acceptance or lane re- opening, and Concessionaire and Contractor agree that the liquidated damages amounts specified in Sections 7.2 and 7.5 represent a reasonable estimate of fair compensation of Losses that may be reasonably anticipated for such late occurrences and shall be applicable regardless of the amount of such costs actually incurred by Concessionaire.

Liquidated Damages Reasonable. Concessionaire and Contractor hereby acknowledge and agree that the terms, conditions and amounts fixed pursuant to Section 7.2 for Late Completion Payments Payments, pursuant to Section 7.2.2 for Additional Contractor Delay Payments, and pursuant to Section 7.5 for Lane Closure Payment are fair and reasonable, considering the reduction in value of the DB TTMS Project to Concessionaire and the actual costs that Concessionaire will incur in the event of Contractor’s failure to achieve Substantial 395 Final Completion by the Guaranteed Substantial Completion Date and/or Final Acceptance by the 395 Guaranteed Final Acceptance Completion Date or to re-open the lanes to traffic after the temporary closure thereof. The amount of liquidated damages is agreed upon and fixed hereunder because of the difficulty of ascertaining the exact amount of Losses that will be actually incurred by Concessionaire for late occurrence of Substantial Completion, 395 Final Acceptance Completion or lane re- re-opening, and Concessionaire and Contractor agree that the liquidated damages amounts specified in Sections 7.2 7.2, 7.2.2 and 7.5 represent a reasonable estimate of fair compensation of Losses that may be reasonably anticipated for such late occurrences and shall be applicable regardless of the amount of such costs actually incurred by Concessionaire.

Liquidated Damages Reasonable. Concessionaire and Contractor hereby acknowledge and agree that the terms, conditions and amounts fixed pursuant to Section 7.2 for Late Completion Payments Payments, pursuant to Section 7.2.2 for Additional Contractor Delay Payments, and pursuant to Section 7.5 for Lane Closure Payment are fair and reasonable, considering the reduction in value of the DB TTMS Project to Concessionaire and the actual costs that Concessionaire will incur in the event of Contractor’s failure to achieve Substantial Xxxx Ex Final Completion by the Guaranteed Substantial Completion Date and/or Final Acceptance by the Xxxx Ex Guaranteed Final Acceptance Completion Date or to re-open the lanes to traffic after the temporary closure thereof. The amount of liquidated damages is agreed upon and fixed hereunder because of the difficulty of ascertaining the exact amount of Losses that will be actually incurred by Concessionaire for late occurrence of Substantial Completion, Xxxx Ex Final Acceptance Completion or lane re- re-opening, and Concessionaire and Contractor agree that the liquidated damages amounts specified in Sections 7.2 7.2, 7.2.2 and 7.5 represent a reasonable estimate of fair compensation of Losses that may be reasonably anticipated for such late occurrences and shall be applicable regardless of the amount of such costs actually incurred by Concessionaire.

Liquidated Damages Reasonable. Concessionaire and Contractor hereby acknowledge and agree that the terms, conditions and amounts fixed pursuant to Section 7.2 for Late Completion Payments Payments, pursuant to Section 7.2.2 for Additional Contractor Delay Payments, and pursuant to Section S ection 7.5 for Lane Closure Payment are fair and reasonable, considering the reduction in value of the DB TTMS Project to Concessionaire and the actual costs that Concessionaire will incur in the event of Contractor’s failure to achieve Substantial Xxxx Ex Final Completion by the Guaranteed Substantial Completion Date and/or Final Acceptance by the Xxxx Xx Guaranteed Final Acceptance Completion Date or to re-open the lanes to traffic after the temporary closure thereof. The amount of liquidated damages is agreed upon and fixed hereunder because of the difficulty of ascertaining the exact amount of Losses that will be actually incurred by Concessionaire for late occurrence of Substantial Completion, Xxxx Ex Final Acceptance Completion or lane re- re-opening, and Concessionaire and Contractor agree that the liquidated damages amounts specified in Sections 7.2 7 .2, 7 .2.2 and 7.5 7 .5 represent a reasonable estimate of fair compensation of Losses that may be reasonably anticipated for such late occurrences and shall be applicable regardless of the amount of such costs actually incurred by Concessionaire.

Liquidated Damages Reasonable. Concessionaire and Contractor hereby acknowledge and agree that the terms, conditions and amounts fixed pursuant to Section 7.2 for Late Completion Payments Payment and pursuant to Section 7.5 7.8 below for Late Lane Closure Opening Payment are fair and reasonable, considering the reduction in value of the DB Project to Concessionaire and the actual costs that Concessionaire will incur in the event of Contractor’s failure to achieve Substantial Completion by the Guaranteed Substantial Completion Date and/or Final Acceptance Completion by the Guaranteed Final Acceptance Completion Date or to re-open the lanes to traffic after the temporary closure thereof. The amount of liquidated damages is agreed upon and fixed hereunder because of the difficulty of ascertaining the exact amount of Losses Damages that will be actually incurred by Concessionaire for late occurrence of Substantial Completion, Final Acceptance Completion or lane re- opening, and Concessionaire and Contractor agree that the liquidated damages amounts specified in Sections 7.2 and 7.5 7.8 represent a reasonable estimate of fair compensation of Losses Damages that may be reasonably reasonable anticipated for such late occurrences and shall be applicable regardless of the amount of such costs actually incurred by Concessionaire.