Common use of Liquidated Clause in Contracts

Liquidated. DAMAGES FOR FAILURE TO TIMELY SUBMITTHE MAINTENANCE CONTROL PLAN (MCP) FOR APPROVAL: If the Contractor fails to timely submit the MCP to the Authorized User Representative for approval, the Authorized User Representative will notify the Contractor and deduct one (1) time the Daily Rate (see above Daily Rate Formula) per Elevator, Escalators or other Lift Equipment from future monthly invoices for each and every day late until such time that the MCP is submitted to the Authorized User Representative for approval. The MCP is the support documentation used by the Authorized User Representative to certify that the maintenance service had been performed. In addition to the assessment of liquidated damages, the non-submittal the MCP will also result in a suspension of payments for the preventive maintenance monthly fee.

Appears in 14 contracts

Sources: Centralized Contract for Elevator, Escalator & Miscellaneous Lift Equipment Preventive and Corrective Maintenance, Centralized Contract for Elevator, Escalator & Miscellaneous Lift Equipment Preventive and Corrective Maintenance, Centralized Contract for Elevator, Escalator & Miscellaneous Lift Equipment Preventive and Corrective Maintenance