Common use of Payments/Damages Clause in Contracts

Payments/Damages. In case of termination for default, the Subcontractor shall not be entitled to receive any further payment. At such time, if the unpaid balance of the Subcontract Amount exceeds the damages incurred by the Contractor as a result of the breach, the excess shall be retained by the Contractor. If the unpaid balance of the Subcontract Amount is less than the damages the Contractor incurred as result of the breach, the Subcontractor shall pay the difference to the Contractor. The Contractor's damages shall be calculated using the Contractor's billing rates, when applicable. The Subcontractor shall reimburse the Contractor for all costs, expenses, and attorney's fees incurred by the Contractor in connection with recovering amounts owed by the Subcontractor under this Subcontract from the Subcontractor and/or the Subcontractor's bonding company.

Payments/Damages. In case of termination for default, the Subcontractor shall not be entitled to receive any further payment. At such time, if the unpaid balance of the Subcontract Amount Price exceeds the damages incurred by the Contractor as a result of the breach, the excess shall be retained by the Contractor. If the unpaid balance of the Subcontract Amount Price is less than the damages the Contractor incurred as result of the breach, the Subcontractor shall pay the difference to the Contractor. The Contractor's damages shall be calculated using the Contractor's billing rates, when applicable. The Subcontractor shall reimburse the Contractor for all costs, expenses, and attorney's fees incurred by the Contractor in connection with recovering amounts owed by the Subcontractor under this Subcontract Paragraph from the Subcontractor and/or the Subcontractor's bonding company.