Common use of For Delay in Final Completion Clause in Contracts

For Delay in Final Completion. If Contractor fails to achieve Final Completion within thirty (30) days after Substantial Completion, Contractor shall pay Owner the sum of $ per day for each and every calendar day of unexcused delay in achieving Final Completion. Any sums due and payable hereunder by Contractor shall be payable, not as a penalty, but as liquidated damages representing an estimate of delay damages likely to be sustained by Owner, estimated at the time of executing this contract. When Owner reasonably believes that Final Completion will be inexcusably delayed, Owner shall be entitled, but not required, to withhold from any amounts otherwise due Contractor an amount then believed by Owner to be adequate to recover liquidated damages applicable to such delays. If and when Contractor overcomes the delay in achieving Final Completion for which Owner has withheld payment, Owner shall promptly release to Contractor those funds withheld, but no longer applicable, as liquidated damages.

For Delay in Final Completion. If Contractor Construction Manager fails to achieve Final Completion within thirty forty-five (3045) days after Substantial Completion, Contractor Construction Manager shall pay Owner twenty-five percent (25%) of the sum of $ indicated at Exhibit “C” per day for each and every calendar day of unexcused delay in achieving Final Completion. Any sums due and payable hereunder by Contractor Construction Manager shall be payable, not as a penalty, but as liquidated damages representing an estimate of delay damages likely to be sustained by Owner, estimated at the time of executing this contractAgreement. When Owner reasonably believes that Final Completion will be inexcusably delayed, Owner shall be entitled, but not required, to withhold from any amounts otherwise due Contractor Construction Manager an amount then believed by Owner to be adequate to recover liquidated damages applicable to such delays. If and when Contractor Construction Manager overcomes the delay in achieving Final Completion Completion, for which Owner has withheld payment, Owner shall promptly release to Contractor Construction Manager those funds withheld, but no longer applicable, as liquidated damages.

For Delay in Final Completion. If Contractor fails to achieve Final Completion within thirty (30) days after Substantial Completion, Contractor shall pay Owner the sum of $ indicated at Exhibit “B” (attached hereto and by reference made a part hereof) per day for each and every calendar day of unexcused delay in achieving Final Completion. Any sums due and payable hereunder by Contractor shall be payable, not as a penalty, but as liquidated damages representing an estimate of delay damages likely to be sustained by Owner, estimated at the time of executing this contract. When Owner reasonably believes that Final Completion will be inexcusably unexcusably delayed, Owner shall be entitled, but not required, to withhold from any amounts otherwise due Contractor an amount then believed by Owner to be adequate to recover liquidated damages applicable to such delays. If and when Contractor overcomes the delay in achieving Final Completion for which Owner has withheld payment, Owner shall promptly release to Contractor those funds withheld, but no longer applicable, as liquidated damages.