Convenience Termination Sample Clauses
A Convenience Termination clause allows one or both parties to end a contract before its natural expiration for any reason, without needing to prove breach or fault. Typically, the party wishing to terminate must provide advance written notice, and may be required to pay certain fees or cover costs incurred up to the termination date. This clause provides flexibility and risk management by enabling parties to exit agreements that are no longer beneficial or necessary, thus preventing unwanted obligations from continuing.
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Convenience Termination. 14.7.1 Licensor may terminate this License if, for a period of 30 consecutive days, Licensor’s cost of power in connection with the Services exceeds $0.057 per kWh; provided, Licensor may not terminate this License in accordance with this Section 14.7 if Licensee agrees to pay to Licensor an amount (not less than zero), in addition to the Fee, equal to (i) Licensor’s actual cost of power in connection with the Services plus (ii) $0.01 per kWh for the remainder of the License Term, which agreement may be subject to certain caps which, if exceeded, would then entitle Licensor to terminate again in accordance with this Section 14.7 to the extent such maximum amounts were exceeded; provided, in connection with such agreement by Licensee and continuation of the License, Licensee shall have the right to terminate the License thereafter upon not less than 30 days’ prior written notice.
14.7.2 Licensee may terminate this License upon 30 days prior written notice and payment on the termination date of liquidated damages equal to the Hypothetical Profits as defined and calculated on Exhibit D.
Convenience Termination. If, due to changed circumstances, the State or the Subrecipient wishes to terminate this Agreement prior to its completion, the initiating party shall notify the other party in writing of its reasons for requesting the early termination. This request must be made at least 15 days prior to the proposed termination date. If both parties agree that it is in their mutual best interests to terminate this Agreement early, all finished or unfinished documents and other materials as described in the Failure to Perform paragraph above shall, at the option of the State, become the State's property. If the Agreement is terminated as provided herein, the Subrecipient shall be reimbursed for actual expenses not otherwise reimbursed under this Agreement which were incurred by the Subrecipient during the contract period and which are directly attributable to the Subrecipient's performance of this Agreement. The State shall also reimburse the Subrecipient for any costs properly incurred by the Subrecipient in honoring convenience termination clauses in its Agreements with its contractors as long as these clauses conform to the standard convenience termination clause used by the State for similar types of contracts.
Convenience Termination. Contractor may terminate this Subcontract, or a part of the Subcontract Work, without Subcontractor being at fault, for Contractor's convenience, and require Subcontractor to stop said terminated work. Such termination shall be effective upon three (3) calendar days written notice. If there has been a termination of the Contract Documents by the Owner, the Subcontractor shall be paid the amount due from Owner to Contractor for the Subcontract Work as may be provided for in the Contract Documents, less Contractor’s markup, upon such payment by the Owner to the Contractor. Otherwise, Contractor shall pay Subcontractor for that work actually performed prior to termination in an amount proportionate to the Subcontract Price. In the event of such a convenience termination, Contractor shall not be liable to Subcontractor for any other costs or amounts, including prospective profits or unabsorbed overhead on Subcontract Work not performed.
Convenience Termination. If, due to changed circumstances, the State or the Subrecipient wishes to terminate this Agreement prior to its completion, the initiating party shall notify the other party in writing of its reasons for requesting the early termination. This request must be made at least 15 days prior to the proposed termination date. If both parties agree that it is in their mutual best interests to terminate this Agreement early, all finished or unfinished documents and other
Convenience Termination. The Industry Body may terminate the Agreement at any time following the Go-Live Date, on at least 3 months’ written notice to the Service Provider. If the Industry Body so terminates the Agreement, the Service Provider may invoice the Industry Body in accordance with clause 16.4 (Early Termination Charges).
Convenience Termination. Contractor may terminate this Subcontract, or a part of the Subcontract Work, without Subcontractor being at fault, for Contractor's convenience, and require Subcontractor to immediately stop said terminated work. If there has been a termination of the Main Contract by the Owner, the Subcontractor shall be paid the amount due from Owner to Contractor for the Subcontract Work as may be provided for in the Main Contract, less Contractor’s markup, upon such payment by the Owner to the Contractor. Otherwise, Contractor shall pay Subcontractor for that work actually performed prior to termination in an amount proportionate to the Subcontract Price. In the event of such a convenience termination, Contractor shall not be liable to Subcontractor for any other costs or amounts, including prospective profits or unabsorbed overhead on Subcontract Work not performed.
Convenience Termination. The City may exercise its right of convenience termination under this Design-Build Contract in its discretion. The exercise by the City of its right of convenience termination under any provision of this Design-Build Contract shall not be deemed a breach of any implied duty of good faith dealing or a City Event of Default nor shall any damages be payable by the City on account thereof. The only compensation payable by the City upon the exercise of its convenience termination option shall be any amounts specified in Section 12.6 in connection therewith.
Convenience Termination. The exercise by the City or the Project Company of its right of convenience termination under any provision of this Water Supply Agreement shall not be deemed a breach of any implied duty of good faith dealing or a City Event of Default or a Project Company Event of Default, nor shall any damages be payable by the City or the Project Company on account thereof. The only compensation payable by the City or the Project Company upon the exercise of their respective convenience termination options shall be the amounts specified herein in connection therewith.
Convenience Termination. If the Owner exercises a Convenience Termination, the Owner shall pay the Contractor a percentage of the lump sum fee which is specified in Section 7.1(a), said percentage to be the same as the percentage of Services completed by the Contractor under this Agreement as of the designated date of termination.