Daily Delay Damages definition

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.

Daily Delay Damages means an amount equal to (a) the Development Security amount required hereunder, divided by (b) one hundred twenty (120).

Daily Delay Damages. Shall have the meaning set forth in Section 13.4(a) (Daily Delay Damages) of this Agreement.

Examples of Daily Delay Damages in a sentence

• Company shall draw upon the Development Period Security on a monthly basis for payment of the total Daily Delay Damages incurred by Seller during the preceding calendar month.

• Buyer shall be entitled to draw upon the Project Development Security posted by Seller for Daily Delay Damages until such time as the Project Development Security is exhausted.

• The Guaranteed Commercial Operation Date may be extended on a day-to-day basis, corresponding to the number of days for which Seller has paid Daily Delay Damages, for a cumulative period of not more than six (6) months (“Daily Delay Damages Extension”).

• Each Party agrees and acknowledges that (a) the damages that Buyer would incur for the failure to provide energy from the Facility due to delay in achieving the Commercial Operation Date on or before the Guaranteed Commercial Operation Date would be difficult or impossible to predict with certainty, and (b) the Daily Delay Damages mechanism is an appropriate approximation of such damages.

• Daily Delay Damages payments applicable to days included in any Daily Delay Damages Extension are nonrefundable and are in addition to, and not a part of, the Project Development Security; provided that Seller will be entitled to a refund (without interest) of any estimated Daily Delay Damages payments paid by Seller to Buyer which exceed the amount required to cover the number of days by which the Guaranteed Commercial Operation Date was actually extended.

More Definitions of Daily Delay Damages

Daily Delay Damages means with respect to the Guaranteed Commercial Operation Date, an amount equal to (a) divided by (b), where (a) is $60/kW multiplied by the Contract Capacity of the Project as reflected in Section B of the Cover Sheet, and (b) is the number 180.

Daily Delay Damages means with respect to the Guaranteed Commercial Operation Date, an amount equal to (a) divided by (b), where (a) is $60/kW multiplied by the Contract Capacity of the Project as reflected in Section B of the Cover Sheet, and (b) is the number 120.

Daily Delay Damages has the meaning set forth in Section 11.6(a)(i).

Daily Delay Damages means liquidated damages in the amount of (i) the product of $323.00/MW and the Expected Contract Capacity of all of the Generating Unit(s) for each day of delay during the period of June 1 through September 30, inclusive, or (ii) the product of $208.00/MW and the Expected Contract Capacity of all of the Generating Unit(s) for each day of delay during all other days of the year.

Daily Delay Damages means liquidated damages paid by Seller to Buyer in the amount of $[XX,XXX] per day for each day of delay in the months of June, July, August and September and $[XX,XXX] per day for each day of delay in the other months of the year. [NOTE to Bidders: this is the total security required during development divided by the number of days in the Cure Period]

Daily Delay Damages has the meaning set forth in Section 3.6(c).

Daily Delay Damages for each Day shall be the positive number (and if not a positive number, zero) equal to the sum for all hours of the Day of the product for each hour of the Day of