(1) it would be difficult or impossible at the date of this contract to determine with absolute precision the amount of damages that would or might be incurred by main contractor as a result of the subcontractor's failure to perform those matters for which liquidated damages are provided under this article 18 and the liquidated damages provided for therein are the Parties' reasonable and genuine estimate of the losses and damages that may reasonably be anticipated from such failure in respect of such matters, and do not constitute a penalty.
(2) amounts due as liquidated damages under this article 18 shall be payable as liquidated damages and not as a penalty, and subcontractor waives, to the fullest extent permitted by law, any claim to the contrary