Common use of Design / Builder’s Compensation When Design / Builder Terminates For Cause Or Owner Terminates For Convenience Clause in Contracts

Design / Builder’s Compensation When Design / Builder Terminates For Cause Or Owner Terminates For Convenience. If this Contract is (i) terminated by the DB pursuant to Paragraph 24.2; (ii) terminated by the Owner pursuant to Paragraph 24.3; or (iii) suspended more than three (3) months by the Owner pursuant to Paragraph 24.3, the Owner shall pay the DB specified amounts due for Work actually performed prior to the effective termination date and reasonable costs associated with termination. The Owner may agree to additional compensation, if any, due to the DB. Absent agreement on the additional amount due the DB, the Owner shall pay the DB: 24.4.1 reasonable costs incurred in preparing to perform the terminated portion of the Work, and in terminating the DB’s performance, plus a fair and reasonable allowance for overhead and profit thereon (such profit shall not include anticipated profit or consequential damages); provided, however, that if it appears that the DB would not have profited or would have sustained a loss if the Work had been completed, no profit shall be allowed or included, and the amount of compensation shall be reduced to reflect the anticipated rates of loss, if any; and 24.4.2 reasonable costs of settling and paying claims arising out of the termination of subcontracts or supplier orders. These costs shall not include amounts paid in accordance with other provisions hereof.