Performance Schedule definition
Examples of Performance Schedule in a sentence
Supplier acknowledges that its Performance Schedule is critical and material to Calspan JETS’s and/or Calspan JETS’s Customer’s schedule, performance, or obligations.
If it is agreed by both parties that the cause of the delay is due to no fault of the Supplier (not including third parties under Supplier’s control), but caused by Calspan JETS (or third parties under Calspan JETS’s control) or Calspan JETS’s Customer, the Parties than shall agree on an adjusted Performance Schedule to adequately reflect these delays.
If Supplier cannot perform or fails to make delivery ten weeks later than the Performance Schedule, or adjusted Performance Schedule as stipulated in this Agreement, Calspan JETS shall have the right to terminate this Agreement according to the termination provisions noted in Section 19 of this Agreement.
If Supplier fails to deliver in accordance to the Performance Schedule as noted in this Agreement, Calspan JETS shall deduct from the Price, as liquidated damages, a sum equivalent to one percent (1.0%) per week, provided that the total aggregate amount deducted from the Price as liquidated damages shall not exceed 5% of the Price.
If a Force Majeure occurs, the parties will execute a change order to extend the Performance Schedule for a time period that is reasonable under the circumstances.