LIQUIDATED DAMAGES
The provisions of this section, including the Contract Price and the liquidate damages, apply to the Power Plant.
The aggregate amount of liquidated damages for the Power Plant under Article 16 shall be limited to a maximum of fifteen (15) percent of the total Contract Price of the Power Plant.
The Client shall be entitled the right to deduct the liquidated damages imposed under Article 16 from any money due or to become due to the Seller or any security placed with the Client.
The payment of such liquidated damages shall not relieve the Seller from his obligations to complete the Work or from any of his obligations under the Contract.
16.1 Liquidated Damages for Late Completion for Work
If the Seller fails to obtain the Commercial Operation Certificate within the period time of Guaranteed Date of Completion of the Work after the extension of, the Client shall, without prejudice to its other remedies under the Contract, deduct from the Contract Price, as liquidated damages at the amount of one tenth of one (0.10) percent of the total Contract price of the power plant excluding recommended operational spare parts for each calendar day of delay.
This sum is payable regardless of the actual loss and/or damages incurred.
Payment of liquidated damages is contingent exclusively upon the late of completion, in no case shall the Client be required to substantiate any claim for payment of liquidated damages with proof of loss and/or damages
16.2 Liquidated Damages for Failure to Meet the Performance Guarantee
If the Works fail to achieve any of the guaranteed figures specified in Appendix 1 Section 7 and the Client nevertheless requires the issuance of a Commercial Operation Certificate, the Contract Price shall be adjusted by the application of liquidated damages as specified below. This sum is payable regardless of the actual loss and/or damages incurred.
Payment of liquidated damages is contingent exclusively upon failure to meet the performance guarantee; in no case shall the Client be required to substantiate any claim for payment of liquidated damages with proof of loss and/or damages.
There shall be no increase in the Contract Price if the heat rate is less or the power output higher than that guaranteed.