Payment of Liquidated Clause Samples
The "Payment of Liquidated" clause establishes the obligation for one party to pay a predetermined sum of money, known as liquidated damages, in the event of a specific breach or failure to perform under the contract. Typically, this clause specifies the conditions under which the payment is triggered, such as delays in project completion or failure to meet certain standards, and outlines the amount or formula for calculating the payment. Its core practical function is to provide certainty and efficiency by pre-agreeing on compensation for particular breaches, thereby avoiding disputes over actual damages and streamlining the resolution process.
Payment of Liquidated. Damages for Failure to Achieve Performance Metrics; Limitation on Liquidated Damages.
Payment of Liquidated. Damages (LD) shall not in any way relieve the vendor from any of its obligations & liabilities under the contract.
Payment of Liquidated damages, reimbursement of additional consultant services due to deficient or delayed work, or similar back charges or damages from the Owner caused by the CMR.
Payment of Liquidated damages shall be in full satisfaction of the Supplier's liability for delay.
Payment of Liquidated damages, reimbursement of additional consultant services due to deficient or delayed work, or similar back charges or direct damages from the Owner caused by the Construction Manager
Payment of Liquidated. Damages by the Supplier in accordance with Clause 9.1 above shall be in full discharge of the non-achieved [ICP Project Value] and the sole remedy of the Government against the Supplier for such failure in achieving the agreed [ICP Project Value] only. For the avoidance of doubt, the Government shall still be entitled to any other remedy to which it is entitled for (among others) any other failure or breach of this Agreement by the Supplier.
Payment of Liquidated. Damages Pursuant to Section (g) of the Certificate of Secretary. The Company's obligation to pay the liquidated damages as provided in Section (g) of the Certificate of Secretary is subject to the Company's receipt of the original Preferred Stock certificate which is the subject of such payment of liquidated damages.
Payment of Liquidated. Damages shall not limit Owner’s right to recover actual damages resulting from Contractor’s breach, default, or negligence.