Payment for Delay Sample Clauses
The Payment for Delay clause establishes the obligation for one party to compensate the other if a project or delivery is not completed within the agreed timeframe. Typically, this clause specifies a daily or weekly rate of payment, often referred to as liquidated damages, that accrues for each period of delay beyond the scheduled completion date. Its core practical function is to incentivize timely performance and provide a predetermined remedy for losses caused by delays, thereby allocating risk and ensuring predictability for both parties.
Payment for Delay. Where the Train Operator is required to make payment to Network Rail for Delay or a Cancellation under the provisions of this Schedule 8, Network Rail shall issue an invoice to the Train Operator within 90 days of the end of the Charging Period in which the Delay or Cancellation arose requesting that payment. The Train Operator shall make payment to Network Rail of the sum contained in that invoice within 28 days of the date of that invoice.
Payment for Delay. Subcontractor shall not be entitled to damages for delays by reason of any act or omission of Contractor or Owner, unless and until Contractor or Owner compensates WPI for Subcontractor's damages, and Subcontractor's sole remedy for such delay shall otherwise be an extension of time, only to the extent actually granted by Contractor or Owner. Subcontractor shall not be entitled to recover damages from WPI for delays or damages caused by the act or omission of any other subtier or their agents, nor shall WPI be liable to Subcontractor for delays occasioned by the act or omission of any other Subcontractor of WPI, unless and until such other subtier compensates WPI for Subcontractor's damages.
Payment for Delay. Where the Train Operator is required to make payment to Network Rail for Delay or a Cancellation under the provisions of this Schedule 8, Network Rail shall issue an invoice to the Train Operator within 90 days of the end of the Charging Period in which the Delay or Cancellation arose requesting that payment. The Train Operator shall make payment to Network Rail of the sum contained in that invoice within 28 days of the date of that invoice. 6 Review of payment for Delay and Cancellations to Third Party Train Operator Services
6.1 Either Network Rail or the Train Operator may by written notice to the other served within a period of 120 days after the end of a Contract Year request a review of the payments and invoices for Delay and Cancellations to Third Party Train Operators in that contract Year (“Schedule 8 Notice”)
6.2 Where Network Rail serves a Schedule 8 Notice that notice shall include:
a. a statement of the total amount invoiced to the Train Operator by Network Rail under paragraph 5 of this Schedule 8 (“Train Operator Payments”);
b. a statement of the total of all amounts actually paid by Network Rail to all Third Party Train Operators and of all amounts due to and allowed to all Third Party Train Operators by Network Rail in relation to all Delay and Cancellations Attributable to the Train Operator and those parts of any Delay and any Cancellations Attributable to both the Train Operator and Network Rail for which the Train Operator is liable in that Contract Year (“Network Rail Payments”);
c. a calculation showing the difference between the Train Operator Payments and the Network Rail Payments or the Network Rail Payments and the Train Operator Payments (as the case may be) (“Balancing Amount”).
6.3 Where the Train Operator serves a Schedule 8 Notice, within 28 days of the date of that Schedule 8 Notice, Network Rail shall provide to the Train Operator the statements and calculation referred to in paragraph