(a) The total liability of the Company for liquidated damages if the Agency terminates this Agreement pursuant to Sections 2.3.1 (Termination Due to Non-Occurrence of Effective Date) and 2.3.2 (Consequences of Termination) due to non-occurrence of the Effective Date on or before the Required Effective Date shall be the amount of the Performance Security.
(b) The total liability of the Company for Delay Liquidated Damages pursuant to Section 5.8 (Liquidated Damages for Delay]) shall not be more than PHP[●].