Definition of Performance LDs


Performance LDs means the liquidated damages payable by Contractor for the failure to achieve any Performance Guarantee set forth in the Performance Guarantee Undertaking.
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Examples of Performance LDs in a sentence

Furthermore, the Parties hereby expressly agree that the following shall not be deemed to be special, incidental or consequential damages: Late Substantial Completion LDs pursuant to Section 7.5 and Performance LDs pursuant to Section 7.6.
Except as provided in Section 14.3.1.3(d) below, Schedule LDs shall be the exclusive remedy for Contractor's failure to achieve Turnover by the Guaranteed Turnover Date and each category of Performance LDs shall be the exclusive remedy for Contractor's failure to achieve the relevant Performance Guarantee.
If the Gas Treating Plant fails to achieve the Performance Guarantees by the completion of the overall century plant project test pursuant to Section 5.3, then the Construction Manager shall promptly pay to the Owner the damages, if any, actually received by the Construction Manager from Ortloff pursuant to the Ortloff Agreements or from UOP pursuant to the UOP Guarantee Agreements (such damages collectively, the Performance LDs).
Notwithstanding anything to the contrary in this Agreement, payment of such Performance LDs, if any, by the Construction Manager shall constitute the Construction Managers sole and exclusive liability and the Owners sole and exclusive remedy for the failure of the Gas Treating Plant to achieve the Performance Guarantees; provided that this Section 6.2 shall not limit the Construction Managers warranty obligations pursuant to Section 7.1.
Prepayment of Term Loans with proceeds of Construction Contractor Performance LDs pursuant to Section 3.7 of the applicable Project Company Depositary Agreement and Section 3.8 of the Borrower Depositary Agreement shall be applied to all maturities of the Term Loans ratably.