Common use of OWNER'S RIGHT TO TERMINATE CONTRACT AND COMPLETE THE WORK Clause in Contracts

OWNER'S RIGHT TO TERMINATE CONTRACT AND COMPLETE THE WORK. The owner shall have the right to terminate the employment of the contractor after giving ten days written notice of termination of the contractor in the event of any default by the contractor and upon receiving written notice from the Engineer certifying the cause for such action. In the event of such termination, the owner may take possession of the work and of all materials, tools and equipment thereon and may finish the work by whatever method and means they select. It shall be considered a default by the contractor whenever they shall: a) Declare bankruptcy, become insolvent, or assign their assets for the benefit of their creditors. b) Disregard or violate important provisions of the contract documents or Engineer's instructions, or fail to prosecute the work according to the agreed schedule of completion, including extensions thereof. c) Fail to provide a qualified superintendent, competent workmen or sub-contractors, or proper materials, or fail to make prompt payment thereof.

OWNER'S RIGHT TO TERMINATE CONTRACT AND COMPLETE THE WORK. The owner shall have the right to terminate the employment of the contractor after giving ten days written notice of termination of the contractor in the event of any default by the contractor and upon receiving written notice from the Engineer certifying the cause for such action. In the event of such termination, the owner may take possession of the work and of all materials, tools and equipment thereon and may finish the work by whatever method and means they select. It shall be considered a default by the contractor whenever they shall: a) Declare bankruptcy, become insolvent, or assign their assets for the benefit of their creditors. b) Disregard or violate important provisions of the contract documents or Engineer's instructions, instructions or fail to prosecute the work according to the agreed schedule of completion, including extensions thereof. c) Fail to provide a qualified superintendent, competent workmen or sub-contractors, or proper materials, or fail to make prompt payment thereof.