Common use of NAI’s Election Clause in Contracts

NAI’s Election. to Terminate NAI’s Work. NAI may elect to terminate its rights and obligations to continue Work at any time prior to the Completion Date if at such time NAI believes in good faith that a Timing or Budget Shortfall exists. To be effective, however, any such election by NAI must be made in accordance with the following provisions:

NAI’s Election. to Terminate NAI’s Work. NAI may elect to terminate its rights Construction Agreement (Building 9) – Page 34 and obligations to continue Work at any time prior to the Completion Date if at such time NAI believes in good faith that a Timing or Budget Shortfall exists. To be effective, however, any such election by NAI must be made in accordance with the following provisions: