Common use of Damages for delay Clause in Contracts

Damages for delay. 15.2.1 The Concessionaire hereby agrees and undertakes that itself shall achieve COD within 180 (One Hundred Eighty) days from the date of this Agreement and in the event of delay, it shall be entitled to a further period not exceeding 120 (One Twenty) days , subject to payment of Damages to the Authority in a sum calculated at the rate of 0.1% (Zero point one per cent) of the Performance Security for each day of delay; provided that the Damages specified herein shall be payable every week in advance and the period beyond the said 180 (One Hundred Eighty ) days shall be granted only to the extent of Damages so paid; provided further that no Damages shall be payable if such delay in COD has occurred solely as a result of any default or delay by the Authority in procuring satisfaction of the Conditions Precedent specified in Clause 4.1.2 of due to Force Majeure.

Damages for delay. 15.2.1 The Concessionaire hereby agrees and undertakes that itself shall achieve COD within 180 (One Hundred Eighty) days from the date of this Agreement and in the event of delay, it shall be entitled to a further period not exceeding 120 (One Twenty) days , subject to payment of Damages to the Authority in a sum calculated at the rate of 0.1% (Zero 0.1%(Zero point one per cent) of the Performance Security for each day of delay; provided that the Damages specified herein shall be payable every week in advance and the period beyond the said 180 (One Hundred Eighty ) days shall be granted only to the extent of Damages so paid; provided further that no Damages shall be payable if such delay in COD has occurred solely as a result of any default or delay by the Authority in procuring satisfaction of the Conditions Precedent specified in Clause 4.1.2 of due to Force Majeure.4.1.2

Damages for delay. 15.2.1 The Concessionaire hereby agrees and undertakes that itself shall achieve COD within 180 (One Hundred Eighty) days from the date of this Agreement and in the event of delay, it shall be entitled to a further period not exceeding 120 (One Twenty) days , subject to payment of Damages to the Authority in a sum calculated at the rate of 0.1% (Zero point one per cent) of the Performance Security for each day of delay; provided that the Damages specified herein shall be payable every week in advance and the period beyond the said 180 (One Hundred Eighty ) days shall be granted only to the extent of Damages so paid; provided further that no Damages shall be payable if such delay in COD has occurred solely as a result of any default or delay by the Authority in procuring satisfaction of the Conditions Precedent specified in Clause 4.1.2 of due to Force Majeure.4.1.2