Common use of General Contractor’s Compensation When Owner Terminates For Cause Clause in Contracts

General Contractor’s Compensation When Owner Terminates For Cause. If this Contract For Construction is terminated by the Owner for cause pursuant to Paragraph 22.1, no further payment shall be made to the General Contractor until Final Completion of the Project. At such time, the General Contractor shall be paid the remainder of the Construction Price less all costs and damages incurred by the Owner as a result of the default of the General Contractor, including liquidated damages applicable thereto. The General Contractor shall additionally reimburse the Owner for any additional costs or expenses incurred.

General Contractor’s Compensation When Owner Terminates For Cause. If this Contract For Construction Agreement is terminated by the Owner for cause pursuant to Paragraph 22.124.1, no further payment shall be made to the General Contractor until Final Completion of the Project. At such time, the General Contractor shall be paid the remainder of the Construction Price Contract Sum less all costs and damages incurred by the Owner as a result of the default of the General Contractor, including liquidated damages applicable thereto. The General Contractor shall additionally reimburse the Owner for any additional costs or expenses incurred.