Common use of Penalties and Liquidated Damages Clause in Contracts

Penalties and Liquidated Damages. Because it may be difficult to calculate the harm to the Franchising Authority in the event of a breach of this Franchise Agreement by Franchisee, the parties agree to liquidated damages as a reasonable estimation of the actual damages. To the extent that the Franchising Authority elects to assess liquidated damages as provided in this Agreement and such liquidated damages have been paid, such damages shall be the Franchising Authority’s sole and exclusive remedy. Nothing in this Section is intended to preclude the Franchising Authority from exercising any other right or remedy with respect to a breach that continues past the time the Franchising Authority stops assessing liquidated damages for such breach. Liquidated damages shall not be assessed until the Franchising Authority has completed the procedures set forth in Section 12.7 hereof, including holding a public hearing, and has notified the Franchisee, by certified or registered mail, of the proposed liquidated damage, specifying the violation at issue. The Franchisee shall have thirty (30) days from the date of receipt of the written notice to submit payment. If the Franchisee does not make payment within that period, the Franchising Authority may obtain the amount assessed from the Franchisee’s performance bond.

Penalties and Liquidated Damages. Because it may be difficult to calculate the harm to the Franchising Authority in the event of a Franchisee’s breach of this Franchise Agreement by FranchiseeAgreement, the parties agree to liquidated damages as a reasonable estimation of the actual damages. To the extent that the Franchising Authority elects to assess liquidated damages as provided in this Agreement and such liquidated damages have been paid, such damages shall be the Franchising Authority’s 's sole and exclusive remedy. Nothing in this Section is intended to shall preclude the Franchising Authority from exercising any other right or remedy with respect to a breach that continues past the time the Franchising Authority stops assessing liquidated damages for such breach. Liquidated damages shall not be assessed until the Franchising Authority has completed the procedures set forth in Section 12.7 12.2 hereof, including holding a public hearing, and has notified notifying the Franchisee, Franchisee by certified or registered mail, mail of the proposed liquidated damagedamages, specifying the violation at issueviolation. The Franchisee shall have thirty (30) days from the date of receipt of the written notice to submit payment. If the Franchisee does not make payment within that period, the Franchising Authority may obtain the amount assessed from the Franchisee’s 's performance bond.

Penalties and Liquidated Damages. Because it may be difficult to calculate the harm to the Franchising Authority in the event of a Franchisee’s breach of this Franchise Agreement by FranchiseeAgreement, the parties agree to liquidated damages as a reasonable estimation of the actual damages. To the extent that the Franchising Authority elects to assess liquidated damages as provided in this Agreement and such liquidated damages have been paid, such damages shall be the Franchising Authority’s 's sole and exclusive remedy. Nothing in this Section is intended to shall preclude the Franchising Authority from exercising any other right or remedy with respect to a breach that continues past the time the Franchising Authority stops assessing liquidated damages for such breach. Liquidated damages shall not be assessed until the Franchising Authority has completed the procedures set forth in Section 12.7 hereof, including holding a public hearing, and has notified notifying the Franchisee, Franchisee by certified or registered mail, mail of the proposed liquidated damagedamages, specifying the violation at issueviolation. The Franchisee shall have thirty (30) days from the date of receipt of the written notice to submit payment. If the Franchisee does not make payment within that period, the Franchising Authority may obtain the amount assessed from the Franchisee’s 's performance bond.

Penalties and Liquidated Damages. Because it may be difficult to calculate the harm to the Franchising Authority in the event of a Franchisee’s breach of this Franchise Agreement by FranchiseeAgreement, the parties agree to liquidated damages as a reasonable estimation of the actual damages. To the extent that the Franchising Authority elects to assess liquidated damages as provided in this Agreement and such liquidated damages have been paid, such damages shall be the Franchising Authority’s 's sole and exclusive remedy. Nothing in this Section is intended to s h a l l preclude the Franchising Authority from exercising any other right or remedy with respect to a breach that continues past the time the Franchising Authority stops assessing liquidated damages for such breach. Liquidated damages shall not be assessed until the Franchising Authority has completed the procedures set forth in Section 12.7 hereof, including holding a public hearing, and has notified notifying the Franchisee, Franchisee by certified or registered mail, mail of the proposed liquidated damagedamages, specifying the violation at issueviolation. The Franchisee shall have thirty (30) days from the date of receipt of the written notice to submit payment. If the Franchisee does not make payment within that period, the Franchising Authority may obtain the amount assessed from the Franchisee’s 's performance bond.