LIQUIDATED DAMAGES CLAUSE definition

LIQUIDATED DAMAGES CLAUSE. [Refer Clause 20 of General Terms & Conditions attached at Annexure A].
View Source
LIQUIDATED DAMAGES CLAUSE. In the event the "teacher" breaches this contract by termination of services during the term hereof, the sum of
View Source

Examples of LIQUIDATED DAMAGES CLAUSE in a sentence

  • THESE SHARES ARE ALSO THE SUBJECT OF A LIQUIDATED DAMAGES CLAUSE OF THE SHARE EXCHANGE AGREEMENT, WHICH PROVIDES THAT, IN THE EVENT OF ANY UNCURED MATERIAL BREACH THEREOF, THE SHARES REPRESENTED HEREBY SHALL BE IMMEDIATELY AND AUTOMATICALLY FORFEITED AND CANCELLED ON THE BOOKS AND RECORDS OF THE ISSUER, WITHOUT THE REQUIREMENT FOR DELIVERY OF THIS INSTRUMENT AND WITHOUT THE REQUIREMENT FOR THE ISSUER TO POST ANY BOND OR TAKE ANY FURTHER ACTION WHATSOEVER.

  • NOTWITHSTANDING THE FOREGOING, IF THE FOREGOING LIQUIDATED DAMAGES CLAUSE IS FOR ANY REASON HELD TO BE UNENFORCEABLE, THEN SELLER SHALL HAVE THE RIGHT TO ELECT TO RECOVER ITS ACTUAL DAMAGES AND SELLER SHALL HAVE ALL OTHER RIGHTS AND REMEDIES AGAINST BUYER PROVIDED AT LAW AND IN EQUITY, AND SELLER SHALL HAVE THE RIGHT TO REQUIRE THAT BUYER SPECIFICALLY PERFORM BUYER’S OBLIGATIONS UNDER THIS AGREEMENT.

  • IN NO EVENT SHALL ANY PENALTY OR LIQUIDATED DAMAGES CLAUSE OF ANY DESCRIPTION BE EFFECTIVE AND BINDING UPON CPS UNLESS SPECIFICALLY APPROVED IN WRITING BY AN EXECUTIVE OFFICER OF CPS.

  • THE PARTIES ACKNOWLEDGE THAT THE ABOVE LIQUIDATED DAMAGES CLAUSE WAS SPECIFICALLY NEGOTIATED BETWEEN THE PARTIES AND THAT IN EACH PARTY’S REASONABLE ESTIMATION, SUCH AGREED AMOUNT REFLECTS A REASONABLE ESTIMATE OF THE DAMAGES THAT WILL BE CAUSED BY DELAY IN THE COMPLETION OF THE WORK.

  • THE OWNER, NOT WITHSTANDING ARTICLE 6 OF THE MASTER GENERAL CONDITIONS OR THE LIQUIDATED DAMAGES CLAUSE 5.6 OF THE AGREEMENT OR ANYTHING ELSE HEREIN, SHALL WAIVE RECOVERY OF CONSEQUENTIAL DAMGES FROM THE ▇▇▇▇ ARRISING FROM EXECUTION OR BREACH OF THIS CONTRACT.