Common use of No Rights to Terminate Clause in Contracts

No Rights to Terminate. No party has the right to terminate this Agreement unless mutually agreed upon in writing by Contractor and Subcontractor. ☐ - Contractor ONLY Has the Option to Terminate: Contractor may, at any time and for any reason, terminate Subcontractor’s Services hereunder at the Contractor’s convenience with at least ____ business day(s) notice. In the event of termination for convenience, Subcontractor shall recover only the actual cost of work completed to the date of termination, in approved units of work or percentage of completion, plus ____% of the actual cost of the completed work for overhead and profit. ☐ - Subcontractor ONLY Has the Option to Terminate: Subcontractor may, at any time and for any reason, terminate their Services hereunder at the Subcontractor’s convenience with at least ____ business day(s) written notice to the Contractor. In the event of termination for convenience, Subcontractor shall recover only the actual cost of work completed to the date of termination, in approved units of work or percentage of completion. In such termination, Subcontractor shall not be entitled to any claim or lien against the Contractor, Owner or anyone else for any additional compensation or damages. ☐ - Both Parties Have the Option to Terminate: Contractor or Subcontractor may, at any time and for any reason, terminate this Agreement for convenience with at least ____ business day(s) notice. In the event of termination for convenience, Subcontractor shall recover only the actual cost of work completed to the date of termination in approved units of work or percentage of completion.