Agreed Damages definition

Agreed Damages has the meaning set forth in Section 10.2. “Agreement” has the meaning set forth in the Preamble. “Assets” has the meaning set forth in Section 1.1.
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Agreed Damages means the aggregate of:
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Agreed Damages has the meaning set forth in Section 11.2.
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Examples of Agreed Damages in a sentence

  • Nonetheless, this approach has not been universally welcomed, and the orthodox view is that such awards are to be made only exceptionally.16 (iii) Agreed Damages Clauses In light of these various issues, one alternative is to insert an agreed damages clause into the agreement providing that a specific amount is payable in the case of breach.17 Such a clause requires the defaulting party to pay a fixed sum regardless of the loss that is actually suffered.

  • The time period for completion of the work as specified and stipulated in the NIT/Contract shall be essence of the Contract/Work Order.In the event of delay by the Consultant in the inspection/conduct tests on boiler and steam drum beyond agreed time schedule of completion, Mutually Agreed Damages @ 1.0% of the lump sum “Agreed Fee” per day of delay attributable to the Consultant or part thereof will be levied on the Consultant subject to a maximum of 10% (Ten percent) of the Agreed Fee/charges.

  • Mitigation and Agreed Damages ClausesThe requirement of mitigation of loss is concerned with efforts that should be 78 made by an obligee to reduce or prevent losses flowing from a breach of con- tract.

  • Agreed Damages Clauses and Other Remedies75 A final point concerning agreed damages clauses is whether they altogether supplant other remedies of the obligee, such as price reduction, requiring perfor- mance and the various damages provisions in the Convention, as well as other provisions, such as the seller’s right to cure.126 This is a question of contractual interpretation.127 IX.

  • Balance 50% on submission and acceptance of final reports (in 12 copies & one soft copy for each unit and one copy of each unit for CO) after adjustment of levy of Mutually Agreed Damages (MAD) as per Clause 9 of Special Terms & Conditions.

  • Exercise 8-1: Chapter Problem 359Introduction to Agreed Damages 359Introduction to the Validity of Liquidated Damages Clauses 360Overview of Chapter 8 362Evaluating the Enforceability of an Agreed Damages Clause 362Exercise 8-2: Leeber v.

  • Sellers and Xxxxxx Petroleum agree to accept payment of the Sellers Agreed Damages by Purchaser as their sole and exclusive remedy and in full settlement and discharge of all obligations of Purchaser under this Agreement and LGO under the LGO Asset Purchase Agreement, without further recourse in law or equity.

  • There seems to be a lack of will from the government authorities to actually take some action.In 2010 there was a study done on a submerged barrier on McLennan Strait to reduce the salt wedge.

  • Purchaser and LGO agree to accept payment of the Purchaser Agreed Damages by Purchaser as their sole and exclusive remedy and in full settlement and discharge of all obligations of Sellers under this Agreement and Xxxxxx Petroleum under the LGO Asset Purchase Agreement, without further recourse in law or equity.

  • Mutually Agreed Damages (MAD) against late delivery: MAD shall be applicable for delayed supplies @ ½ % of total value of PO per week or part thereof subject to maximum of 5% of total order value.


More Definitions of Agreed Damages

Agreed Damages shall have the meaning set forth in Section 23.1.2.
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Agreed Damages damages agreed and assessed in advance at the rate of 15% of the value of the plot on the decision date Page 10 of 15 15:01:46 07/11/2018 Israel Lands Authority
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Related to Agreed Damages

  • Indemnified Damages shall have the meaning assigned to such term in Section 6(a).

  • Liquidated Damages means all liquidated damages then owing pursuant to Section 5 of the Registration Rights Agreement.

  • Overhead Damage means any damage to the Vehicle or to any third-party property that is caused by:

  • Covered Damage All damages to property of the unit's owner, up to $1,475.00 in the aggregate for each Stay, that occurs during the Covered Guest's stay and that is the result of the inadvertent acts or omissions of the Covered Guest or the Covered Guest's invitee, excluding the damages listed in the conditions section above. • "Covered Guest": All registered guests and all persons booked to share the same unit of accommodations, and have paid the required plan cost. • "Stay": The stay at an iTrip unit, from the date of a Covered Guest's check-in to the date of check-out.

  • Economic damages means objectively verifiable monetary losses, including medical expenses, loss of earnings, burial costs, loss of use of property, cost of replacement or repair, cost of obtaining substitute domestic services, loss of employment, and loss of business or employment opportunities.

  • Delay Damages means the damages assessed pursuant to Section 3.2(a) hereof.

  • Delay Liquidated Damages has the meaning set forth in Section 13.1.

  • Insured Damage means that part of any damage occurring to the Leased Premises of which the entire cost of repair is actually recovered by the Landlord under a policy of insurance in respect of fire and other perils from time to time effected by the Landlord, or for which the Landlord has self-insured under Section 9.1 herein.

  • Cover Damages means, with respect to any Delivery Shortfall, an amount equal to (a) the positive net amount, if, any, by which the Replacement Price exceeds the applicable Price that would have been paid pursuant to Section 5.1 and the Cover Sheet, multiplied by the quantity of that Delivery Shortfall, plus (b) any applicable penalties and other costs assessed by ISO-NE or any other Person against Buyer as a result of Seller’s failure to deliver such Products in accordance with the terms of this Agreement. Buyer shall provide a statement for the applicable period explaining in reasonable detail the calculation of any Cover Damages.

  • Seller Damages shall have the meaning given to such term in Section 14.3.

  • Special Damages shall have the meaning as set forth in Section 5.07.

  • Resale Damages means, with respect to any Rejected Purchase, an amount equal to (a) the positive net amount, if any, by which the applicable Price that would have been paid pursuant to Section 5.1 hereof for such Rejected Purchase, had it been accepted, exceeds the Resale Price multiplied by the quantity of that Rejected Purchase, plus (b) any applicable penalties assessed by ISO-NE or any other Person against Seller as a result of Buyer’s failure to accept such Products. Seller shall provide a written statement explaining in reasonable detail the calculation of any Resale Damages.

  • Noneconomic damages ’ means damages for phys-

  • Actual Damages has the meaning set forth in Section 12.4(C).

  • SPECIAL LIQUIDATED DAMAGES means the amount payable by the Transport Supplier in case of default arising out of Non-availability of vehicle(s)/crew when the Company's operations are normal and also Non-availability of services due to unauthorized / lightening strike by Transport Supplier or his/her crew for any reason whatsoever. The period of non-availability of services will be treated as shutdown and shall attract Special Liquidated damage at the rate of twice the pro- rata fixed charge per day. Special L.D. shall be levied irrespective of whether such default resulted in a shutdown for the whole day or part thereof.

  • Damages means any loss, claim, damage, liability, costs and expenses (including, without limitation, reasonable attorney's fees and disbursements and costs and expenses of expert witnesses and investigation).

  • Direct Damage has the meaning given to it in clause 26.2;

  • Daily Delay Damages means with respect to a Guaranteed Project Milestone, an amount equal to (a) the Project Development Security Amount posted as of the first date that Daily Delay Damages are payable under this Agreement with respect to such Guaranteed Project Milestone, divided by (b) 120.

  • Compensatory Damages are those amounts awarded to compensate for the actual damages sustained, and are not awarded as a penalty, nor fixed in amount by statute.

  • Consequential Damages means Losses claimed to have resulted from any indirect, incidental, reliance, special, consequential, punitive, exemplary, multiple or any other Loss, including damages claimed to have resulted from harm to business, loss of anticipated revenues, savings, or profits, or other economic Loss claimed to have been suffered not measured by the prevailing Party’s actual damages, and any other damages typically considered consequential damages under Applicable Law, regardless of whether the Parties knew or had been advised of the possibility that such damages could result in connection with or arising from anything said, omitted, or done hereunder or related hereto, including willful acts or omissions.

  • Punitive Damages are those damages awarded as a penalty, the amount of which is neither governed nor fixed by statute.

  • Rejection Damages Claim means any Claim on account of the rejection of an Executory Contract or Unexpired Lease pursuant to section 365 of the Bankruptcy Code.

  • Liquidated Damages Amount has the meaning set forth in Section 2(e) hereof.

  • Loss or Damage means any loss or damage to the Vehicle, including that caused by theft of the Vehicle or by adverse weather events, that requires repair or replacement including the loss of use of the Vehicle (demurrage), legal expenses, assessment fees, towing and recovery costs, storage, service charges and any appraisal fees of the Vehicle;

  • Performance Liquidated Damages means any liquidated damages resulting from the Project’s performance which are required to be paid by the EPC Contractor or any other Material Project Party for or on account of any diminution to the performance of the Project.

  • Indemnifiable Damages shall have the meaning set forth in Section 9.1 herein.