Common use of Conversion to Termination for Convenience Clause in Contracts

Conversion to Termination for Convenience. If a court of competent jurisdiction deems that termination of the Party was wrongful or otherwise improper, the termination will be deemed a termination for convenience under Section 17.1. Owner will pay the terminated Party the amount due as if the termination had been for convenience, plus interest at 3 percent simple interest per annum, on the difference between the amount that was paid at termination and the amount that should have been paid for a termination for convenience, if any, from the date the payment would have been due to the date payment is actually made.

Conversion to Termination for Convenience. If a court of competent jurisdiction deems that termination of the Party was wrongful or otherwise improper, the termination will be deemed a termination for convenience under Section 17.116.1. Owner will pay the terminated Party the amount due as if the termination had been for convenience, plus interest at 3 percent 3% simple interest per annum, on the difference between the amount that was paid at termination and the amount that should have been paid for a termination for convenience, if any, from the date the payment would have been due to the date payment is actually made.

Conversion to Termination for Convenience. If a court of competent jurisdiction deems that termination of the Party was wrongful or otherwise improper, the termination will be deemed a termination for convenience under Section 17.116.1. Owner will pay the terminated Party the amount due as if the termination had been for convenience, plus interest at 3 percent % simple interest per annum, on the difference between the amount that was paid at termination and the amount that should have been paid for a termination for convenience, if any, from the date the payment would have been due to the date payment is actually made.