Common use of Owner May Terminate For Convenience Clause in Contracts

Owner May Terminate For Convenience. 20.3.1 Upon seven (7) days written notice to Contractor and Architect, Owner may, without cause and without prejudice to any other right or remedy of Owner, elect to terminate the Contract. In such case, Contractor shall be paid (without duplication of any items): 20.3.1.1 For completed and acceptable Work executed in accordance with the Contract Documents prior to the effective date of termination, including fair and reasonable sums for overhead and profit on such Work; 20.3.1.2 For expenses sustained prior to the effective date of termination in performing services and furnishing labor, materials, or equipment as required by the Contract Documents in connection with uncompleted Work, plus fair and reasonable sums for overhead and profit on such expenses; 20.3.1.3 For all claims, costs, losses, and damages (including but not limited to all fees and charges of engineers, architects, attorneys, and other professionals and all court or arbitration or other dispute resolution costs) incurred in settlement of terminated contracts with Subcontractors, Suppliers, and others; and 20.3.1.4 For reasonable expenses directly attributable to termination. 20.3.2 Contractor shall not be paid on account of loss of anticipated profits or revenue or other economic loss arising out of or resulting from such termination.

Owner May Terminate For Convenience. 20.3.1 Upon seven (7) days written notice to Demolition Contractor and Architect, Owner may, without cause and without prejudice to any other right or remedy of Owner, elect to terminate the Contract. In such case, Demolition Contractor shall be paid (without duplication of any items): 20.3.1.1 For completed and acceptable Work executed in accordance with the Contract Documents prior to the effective date of termination, including fair and reasonable sums for overhead and profit on such Work; 20.3.1.2 For expenses sustained prior to the effective date of termination in performing services and furnishing labor, recyclable materials, or equipment as required by the Contract Documents in connection with uncompleted Work, plus fair and reasonable sums for overhead and profit on such expenses; 20.3.1.3 For all claims, costs, losses, and damages (including but not limited to all fees and charges of engineers, architects, attorneys, and other professionals and all court or arbitration or other dispute resolution costs) incurred in settlement of terminated contracts with Subcontractors, Suppliers, and others; and 20.3.1.4 For reasonable expenses directly attributable to termination. 20.3.2 Demolition Contractor shall not be paid on account of loss of anticipated profits or revenue or other economic loss arising out of or resulting from such termination.