Common use of Contract Termination Compensation Clause in Contracts

Contract Termination Compensation. The District, with the consent of the Office of the State Auditor, may terminate this contract at any time, for any reason other than those reasons contained in paragraph 16 above, by giving written notice to the Firm of such termination and specifying the effective date thereof, at least ten days before the effective date of such termination. However, prior to termination of this contract by the District, the District must provide written justification to the Office of the State Auditor documenting the reasons for requesting that the contract be terminated. The District must obtain written approval from the Office of the State Auditor prior to terminating the contract. In that event, all finished and unfinished documents and other materials as described in paragraph 15 above shall become the property of the District. If the District, as provided herein, terminates the contract, the Firm will be paid an amount, which bears the same ratio to the total services of the Firm covered by the contract.

Contract Termination Compensation. The District, with the consent of the Office of the State Auditor, may terminate this contract at any time, for any reason other than those reasons contained in paragraph 16 15 above, by giving written notice to the Firm of such termination and specifying the effective date thereof, at least ten days before the effective date of such termination. However, prior to termination of this contract by the District, the District must provide written justification to the Office of the State Auditor documenting the reasons for requesting that the contract be terminated. The District must obtain written approval from the Office of the State Auditor prior to terminating the contract. In that event, all finished and unfinished documents and other materials as described in paragraph 15 above shall become the property of the District. If the District, as provided herein, terminates the contract, the Firm will be paid an amount, which bears the same ratio to the total services of the Firm covered by the contract.