Equipment Delivery LDs definition
Equipment Delivery LDs means liquidated damages amounts set forth in Section 5, Appendix 5 that are payable by Seller to Buyer for failure to meet Guaranteed Milestone Dates.
Equipment Delivery LDs means liquidated damages amounts set forth in Appendix 5 of Section 5 that are payable by Seller to Buyer for failure to meet Guaranteed Milestone Dates. “Facility” or “Plant” for the purposes of this agreement means the Project, which includes the Equipment, to be constructed by the Buyer for Owner at the Site location under the terms of the Prime Contract. For testing purposes as described in Section 5, Appendix 4, Facility refers to all the equipment at the Site operating together. “Financial Instrument” means a financial instrument, in lieu of retention, in favor of Buyer, in a mutually acceptable form, issued by a company acceptable to Buyer.
Examples of Equipment Delivery LDs in a sentence
Equipment Delivery LDs will be assessed based upon the date of Delivery of the last major item in an identified group.
Notwithstanding the foregoing, if and so long as Seller is liable to pay and does pay Equipment Delivery LDs under this Agreement, Buyer shall not be entitled to terminate this Agreement for late Delivery of Equipment, provided that if Seller’s progress in performing the Work is delayed such that Delivery of the Equipment by the Guaranteed Milestone Delivery Dates is endangered, Seller must submit a plan to Buyer demonstrating how Seller will minimize such delay.