Liquidated Damages definition
Examples of Liquidated Damages in a sentence
No notice shall be required from Buyer that Delay Liquidated Damages are due from Seller.
In respect to any specific Unit, the Heat Rate Liquidated Damages and the Power Output Liquidated Damages shall be together known as the “Performance Liquidated Damages.” The Performance Liquidated Damages in respect to any specific Unit shall not exceed [***] of the Unit Base Price for such Unit.
If the Delay Liquidated Damages Cap has been reached for the applicable Unit, Seller shall be in material breach of this Agreement and shall have [***] days to remedy such breach.
For the avoidance of doubt, the liability cap set forth in this Section shall not include or apply to (i) claims for or amounts due or paid for Liquidated Damages; or (ii) the Excess Cancellation Charge, if applicable.
Seller shall pay the applicable Delay Liquidated Damages and Unit Termination Payments to Buyer within [***] days following each month in which a Delay or Unit Termination occurs.