Time is of the Essence/Liquidated Damages. Time is of the essence in the performance of this Contract. The Contractor shall diligently pursue the Project work to physical completion by the date specified in Section 1. If said work is not completed within the time specified, the Contractor agrees to pay the City as liquidated damages the sum set forth in Section 1-08.9 of the Standard Specifications for each and every calendar day said work remains uncompleted after expiration of the specified time.
Time is of the Essence/Liquidated Damages. Because of the commitments of the parties, time is of the essence in this Agreement. If Seller has performed under this Agreement and Buyer fails to comply with the terms of this Agreement by the scheduled closing date (unless said closing date has been extended), then Buyer’s right to return of the Xxxxxxx Money shall be forfeited and the Xxxxxxx Money paid to Seller. Further, in the event of Xxxxx’s default hereunder, Xxxxx agrees to pay to Xxxxxx ( %) percent of the Purchase Price as liquidated damages, actual damages being difficult, if not impossible, to ascertain. Seller may further elect to pursue any and all other remedies provided under the laws of the state of Missouri. If Buyer has performed under this Agreement and Seller fails to comply with the terms of this Agreement by the scheduled closing date, Buyer may release Seller from liability, in which case the xxxxxxx money will be refunded to Buyer and Seller shall reimburse Buyer for all direct costs and expenses as specified in writing by Xxxxx, or Buyer may pursue any remedy at law or in equity, including but not limited to suit for actual damages or specific performance. Buyer’s release of Seller shall not relieve Seller of any liability owed to any broker(s). The holder of the xxxxxxx money will not be liable for it until actually in the form of cash in the holder's possession. The holder of the Xxxxxxx Money or any other escrowed funds or documents in connection herewith shall not distribute any of such funds or documents without the written consent of all parties to this Agreement. The signatures of Buyer and Seller on the Closing Statement(s) shall constitute such consent. If Xxxxx fails to pay additional xxxxxxx money when due (if required) or if the xxxxxxx money is to be paid over to Seller as liquidated damages because of Buyer's failure to comply with this Agreement, then the xxxxxxx money will go first toward paying or reimbursing expenses of Seller or any agent or transaction broker incurred in this transaction. If Buyer and Seller have a dispute over the return or forfeiture of xxxxxxx money held in the aforementioned escrow account, the deposit may be held in the escrow account until the holder obtains written release from all parties consenting to disposition or until a civil action is filed to determine disposition, at which time the holder may pay the funds into court, less any attorney fees, court costs and other legal expenses incurred by the holder of said funds in connect...
Time is of the Essence/Liquidated Damages. 39.1 If the L-POA shall neglect, or refuse to complete the Work by November 9, 2011, as extended hereunder, which is n the time specified for Substantial Completion in this Agreement, (except for reasons outlined in section 20 of the Agreement) and such delay is not caused by change in specification or an act or omission of Purchaser or its agents or representatives, L-POA does hereby agree, as a part consideration for the awarding of this Agreement, to pay to the Purchaser, as liquidated damages and not as a penalty for every day the Completion Date is later than the Scheduled Completion Date, as follows; first seven days is $2,500/day, next seven days is $5,000/day, and $10,000/day thereafter but in no case will liquidated damages exceed five percent (5%) of the Contract Price in the aggregate. The said amount is fixed and agreed on by and between L-POA and the Purchaser because of the impracticability and extreme difficulty of fixing and ascertaining the true value of the damages which the Purchaser will sustain by failure of the L-POA to complete the Work on time, such as loss of revenue, loss of and other damages, some of which are indefinite and not susceptible of easy proof, said amount is agreed to be a reasonable estimate of the amount of damages which the Purchaser will sustain and said amount shall be deducted from any monies due or that may become due to L-POA and such amount shall be the entire damages that Purchaser shall be entitled to recover due to L-POA failure to complete the Lift on a timely basis and is in lieu of all other damages, special, general, consequential or otherwise, to which Purchaser may be entitled pursuant to the laws of the jurisdiction.
Time is of the Essence/Liquidated Damages. Time, including but not limited to the Commencement Date and the Contract Time, is of the essence for each Job Order (if any) and the Work required under it. Owner may, in its discretion, as part of the Job Order or the Request for Quote, identify an amount that will be deducted from the Project Cost as liquidated damages for each consecutive calendar day beyond the Contract Time that Contractor is delayed in completing the Work. The Work is not complete so long as deficiencies found during the final testing and inspection of the Work is not completed. The amount deducted in accordance with the immediately preceding sentence is not a penalty but liquidated damages representing the parties’ good faith estimate, at the time of execution of a Job Order, of the damages Owner will sustain for late completion.
Time is of the Essence/Liquidated Damages. Time is of the essence for all of Contractor’s obligations under this Agreement. The Town will be entitled to Liquidated Damages as set forth at Section 2.4.2.
