Examples of Liquidated Damages Period in a sentence
Such payment shall be in full and final settlement of the CONTRACTOR’s financial liability for any loss or damage incurred by the CUSTOMER during the Liquidated Damages Period; and if: any milestone or deliverable has not been met; and/or the Acceptance Procedures have not been recorded as successful, by the end of the Liquidated Damages Period, the CUSTOMER shall be entitled to claim any remedy available to it for loss or damage incurred by it thereafter.
Such payment shall be in full and final settlement of the Supplier’s financial liability for any loss or damage incurred by the Customer during the Liquidated Damages Period, and if the Acceptance Procedures have not been recorded as successful by the end of the Liquidated Damages Period, the Customer shall be entitled to claim any remedy available to it for loss or damage incurred by it thereafter.
Such payment shall be in full and final settlement of the Supplier’s financial liability for any loss or damage incurred by the Customer during the Liquidated Damages Period, and if the Equipment has not been delivered by the end of the Liquidated Damages Period, the Customer shall be entitled to claim any remedy available to it for loss or damage incurred by it thereafter.
Such payment shall be in full and final settlement of the SERVICE PROVIDER’s financial liability for any loss or damage incurred by the CUSTOMER during the Liquidated Damages Period; and if the Acceptance Procedures have not been recorded as successful by the end of the Liquidated Damages Period, the CUSTOMER shall be entitled to claim any remedy available to it for loss or damage incurred by it thereafter.
The Parties agree that the Liquidated Damages are a genuine negotiated pre-estimate of Buyer’s loss resulting from delay in delivery up to the expiry of the Liquidated Damages Period and will not be regarded as penalty provisions.