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Liquidated Damages - GEOARM Security®

"Upon termination or default of this agreement for any reason, except for cancellation at the end of the initial term or any extension term as provided herein, all services by GEOARM will terminate and in addition to any payments due for services rendered, CLIENT shall be liable for liquidated damages for the breach of the contract, calculated at the accelerated rate seventy-five percent (75%) of the amount due from the date of default to the end of the term of the agreement. This provision for liquidated damages is agreed upon between the parties due to the inability of computing the actual costs of disconnecting the service and/or the loss of the value of the unexpired portion of the agreement. In the event CLIENT fails to pay the amount of liquidated damages due upon termination and/or the amount then due for services previously rendered, CLIENT agrees to pay GEOARM all costs of collection, including without limitation, prejudgment interest and reasonable attorney fees." Paragraph 18 of GEOARM Contract Version 10.13:
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