Common use of Cost of Termination Clause in Contracts

Cost of Termination. If the unpaid balance of the Contract Price exceeds the Owner’s costs of finishing the Work, including the cost for the having another contractor complete the Work and expenses made necessary thereby, including engineering and attorneys’ fees, and other damages incurred by the Owner by reason of such termination, such excess shall be paid to the Contractor. If such costs and damages exceed the unpaid balance, the Contractor shall pay the difference to the Owner.

Appears in 4 contracts

Samples: Master Equipment Agreement, Master Construction Agreement, Master Equipment Agreement

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!