Early Termination Adjustment Sample Clauses
The Early Termination Adjustment clause defines how parties will settle financial obligations if a contract is ended before its agreed-upon term. Typically, this clause outlines the method for calculating any payments or penalties due upon early termination, such as prorated fees, reimbursement of costs, or compensation for lost profits. Its core function is to provide a clear and fair mechanism for resolving outstanding financial matters, thereby reducing disputes and uncertainty if the contract ends prematurely.
Early Termination Adjustment. Multi-year agreements are based upon discounts to the single year fee for system and services. Should the district opt for one of the multi-year agreements and then choose to terminate the AGREEMENT per 6.1 above an adjustment will be applied to the final year of service based upon the number of years of the contract that have been completed. The adjustment schedule is provided below.