Force Majeure Termination - Construction Period. Upon a Force Majeure Termination during the Construction Period, the Province shall pay to the Contractor a Termination Payment equal to the lesser of:
(a) the Capital Amount less the Progress Payments that the Contractor has received; and
(b) the amount actually expended (including any irrevocable commitment to purchase and pay for materials not readily returnable or readily deployable other than on the Project provided arrangements are made satisfactory to the Province acting reasonably, to transfer to the Province ownership of such materials free and clear of any security interests) in furtherance of the design, build and financing of the Project by the Contractor, less the amount of any Progress Payments that the Contractor has received (but without duplication of any Progress Payments the Contractor had become entitled to receive from the Province but had not yet received); less, in either case, all insurance proceeds, if any, legally claimable by the Contractor as a result of events occurring prior to the Force Majeure Termination.
Force Majeure Termination - Construction Period. Upon a Force Majeure Termination during the Construction Period, the Province shall pay to the Contractor a Termination Payment equal to the lesser of:
(a) the Capital Amount less the Progress Payments that the Contractor has received; and
(b) the amount actually expended (including any irrevocable commitment to purchase and pay for materials not readily returnable or readily deployable other than on the Project provided arrangements are made, satisfactory to the Province acting reasonably, to transfer to the Province ownership of such materials free and clear of any security interests) in furtherance of the design, build and financing of the Project by the Contractor, less the amount of any Progress Payments that the Contractor has received (but without duplication of any Progress Payments the Contractor had become entitled to receive from the Province but had not yet received), less, in either case, any Adjusted School Capital Payments that the Contractor has received multiplied by a factor of 1.25 (but without duplication of Adjusted School Capital Payments the Contractor has become entitled to receive from the Province but has not yet received), and all insurance proceeds, if any, that would be payable to the Contractor, pursuant to insurance coverages required to be obtained by the Contractor pursuant to Section 11, and as a result of events occurring prior to the Force Majeure Termination and having a bearing on the Termination Payment determined in accordance with this Section 18.7, assuming that the applicable insurance policy was compliant with the requirements of Section 11 and Schedule 11 (Insurance Requirements), that the Contractor had fully complied with all terms of the applicable insurance policy and had made the required disclosures to the insurer, and assuming that the insurer is capable of paying; and less all other insurance proceeds received or to be received by the Contractor as a result of events occurring prior to the Force Majeure Termination and not applied by the Contractor against the loss for which the insurance was obtained.
Force Majeure Termination - Construction Period. Upon a Force Majeure Termination during the Construction Period, the Province shall pay to the Contractor a Termination Payment equal to the lesser of:
(a) the Force Majeure Capital Amount; and
(b) the amount (to a maximum of the amount of the Project Financing) actually expended in furtherance of the design, build and financing of the Project by the Contractor, less the amount of any Progress Payments that the Contractor has received or become entitled to receive; less, in either case, all insurance proceeds, if any, claimable by the Contractor as a result of events occurring prior to the Force Majeure Termination.
Force Majeure Termination - Construction Period. Upon a Force Majeure Termination during the Construction Period, the Province shall pay to the Contractor a Termination Payment equal to the lesser of:
(a) the Force Majeure Capital Amount; and
(b) the amount (to a maximum of the amount of the Project Financing) actually expended (including any irrevocable commitment to purchase and pay for materials not readily returnable or readily deployable other than on the Project) in furtherance of the design, build and financing of the Project by the Contractor, less the amount of any Progress Payments that the Contractor has received (but without duplication of any Progress Payments the Contractor has become entitled to receive from the Province but has not yet received); less, in either case, all insurance proceeds, if any, claimable by the Contractor as a result of events occurring prior to the Force Majeure Termination.
Force Majeure Termination - Construction Period. Upon a Force Majeure Termination during the Construction Period, the Province shall pay to the Contractor a Termination Payment equal to the amount which is the sum of:
(a) the amount the Contractor is entitled to for work on the Project satisfactorily completed (including work completed but not yet invoiced for) to the date of termination determined in accordance with Section 8 (Payment);
(b) breakage costs that are commercially reasonable and consistent with market practice, as determined by the Province, payable to the Contractor’s subcontractors, having regard to customarily negotiated break fees between parties at arm’s length from one another, and subject in every case to a duty on the part of the subcontractor to mitigate its damages and subject to the Contractor’s duty in every instance to take all commercially reasonable measures to mitigate its damages or losses; and
(c) fixed expenses of the Contractor, as determined by the Province, that would have been recovered as part of the progress payments after the date of termination, and subject to the Contractor’s duty to take all commercially reasonable measures to mitigate its losses.
