Common use of Owner’s Right to Terminate Clause in Contracts

Owner’s Right to Terminate. 24.01 If at any time there shall be filed by or against Construction Manager in any court a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Construction Manager’s property; or, if Construction Manager makes an assignment for the benefit of creditors or petitions or enters into an agreement or arrangement with creditors; or, if Construction Manager refuses to supply enough properly skilled workers or proper materials or otherwise fails to secure adequate job progress in the opinion of Owner; or, if Construction Manager fails to correct defective or non- conforming work within a reasonable time; or, if Construction Manager fails to make payment in accordance with ITEM 11 to Subcontractors or suppliers for labor or materials, or disregards laws, ordinances, rules, regulations or orders of any public authority; or, if Construction Manager, without limitation, fails or refuses to perform any provision of the Contract, then Owner may, without prejudice to any right or remedy and after giving Construction Manager and its surety, if any, five (5) days’ written notice, terminate the employment of Construction Manager and take possession of the Project site and all materials, equipment, tools, appliances and machinery thereon owned by Construction Manager and may finish the Work by whatever method Owner may deem expedient. In such case, Construction Manager shall not be entitled to receive any further payment until the Work is completed. In the event the unpaid balance of the Contract Amount is in excess of the cost incurred by Owner in completion of the Work and any loss of any other kind arising from the default and termination, such excess shall be paid to Construction Manager. If such costs exceed the unpaid balance, Construction Manager shall promptly pay the difference to Owner. The obligation to make such payments shall survive the termination of the Contract. In the event Owner is required to bring legal proceedings to recover any amounts that may be owed to Owner by Construction Manager pursuant to the terms of this Item 24.1, Owner shall be entitled to recover its cost of bringing such action including, without limitation, legal fees and expenses. Further, nothing herein shall act as a limitation on the rights of Owner to obtain from Construction Manager whatever remedies to which Owner is entitled as a matter of law or in equity.

Owner’s Right to Terminate. 24.01 If at any time there shall be filed by or against Construction Manager in any court a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Construction Manager’s property; or, if Construction Manager makes an assignment for the benefit of creditors or petitions or enters into an agreement or arrangement with creditors; or, if Construction Manager refuses to supply enough properly skilled workers or proper materials or otherwise fails to secure adequate job progress in the opinion of Owner; or, if Construction Manager fails to correct defective or non- non-conforming work within a reasonable time; or, if Construction Manager fails to make payment in accordance with ITEM 11 to Subcontractors or suppliers for labor or materials, or disregards laws, ordinances, rules, regulations or orders of any public authority; or, if Construction Manager, without limitation, fails or refuses to perform any provision of the Contract, then Owner may, without prejudice to any right or remedy and after giving Construction Manager and its surety, if any, five (5) days’ written notice, terminate the employment of Construction Manager and take possession of the Project site and all materials, equipment, tools, appliances and machinery thereon owned by Construction Manager and may finish the Work by whatever method Owner may deem expedient. In such case, Construction Manager shall not be entitled to receive any further payment until the Work is completed. In the event the unpaid balance of the Contract Amount is in excess of the cost incurred by Owner in completion of the Work and any loss of any other kind arising from the default and termination, such excess shall be paid to Construction Manager. If such costs exceed the unpaid balance, Construction Manager shall promptly pay the difference to Owner. The obligation to make such payments shall survive the termination of the Contract. In the event Owner is required to bring legal SECTION 00700 proceedings to recover any amounts that may be owed to Owner by Construction Manager pursuant to the terms of this Item 24.1, Owner shall be entitled to recover its cost of bringing such action including, without limitation, legal fees and expenses. Further, nothing herein shall act as a limitation on the rights of Owner to obtain from Construction Manager whatever remedies to which Owner is entitled as a matter of law or in equity.

Owner’s Right to Terminate. 24.01 If at any time there shall be filed by or against Construction Manager in any court a petition in bankruptcy or insolvency or for reorganization or for the appointment of a receiver or trustee of all or a portion of Construction Manager’s property; or, if Construction Manager makes an assignment for the benefit of creditors or petitions or enters into an agreement or arrangement with creditors; or, if Construction Manager refuses to supply enough properly skilled workers or proper materials or otherwise fails to secure adequate job progress in the opinion of Owner; or, if Construction Manager fails to correct defective or non- non-conforming work within a reasonable time; or, if Construction Manager fails to make payment in accordance with ITEM 11 to Subcontractors or suppliers for labor or materials, or disregards laws, ordinances, rules, regulations or orders of any public authority; or, if Construction Manager, without limitation, fails or refuses to perform any provision of the Contract, then Owner may, without prejudice to any right or remedy and after giving Construction Manager and its surety, if any, five (5) days’ written notice, terminate the employment of Construction Manager and take possession of the Project site and all materials, equipment, tools, appliances and machinery thereon owned by Construction Manager and may finish the Work by whatever method Owner may deem expedient. In such case, Construction Manager shall not be entitled to receive any further payment until the Work is completed. In the event the unpaid balance of the Contract Amount is in excess of the cost incurred by Owner in completion of the Work and any loss of any other kind arising from the default and termination, such excess shall be paid to Construction Manager. If such costs exceed the unpaid balance, Construction Manager shall promptly pay the difference to Owner. The obligation to make such payments shall survive the termination of the Contract. In the event Owner is required to bring legal proceedings to recover any amounts that may be owed to Owner by Construction Manager pursuant to the terms of this Item 24.1, Owner shall be entitled to recover its cost of bringing such action including, without limitation, legal fees and expenses. Further, nothing herein shall act as a limitation on the rights of Owner to obtain from Construction Manager whatever remedies to which Owner is entitled as a matter of law or in equity.