Common use of Owner’s Termination for Convenience Clause in Contracts

Owner’s Termination for Convenience. Owner may, at any time and without cause terminate the Agreement, in whole or in part, by delivering to Contractor at least ten (10) Days in advance, a notice of termination for convenience specifying the extent and the effective date of termination. Upon such date of termination, Contractor shall (a) immediately and peacefully surrender possession of the Site and all Materials for which the Contractor received progress payments, and (b) assign to Owner those Subcontracts that Owner requests. Under those Subcontracts to which Owner elects to take assignment, Owner shall assume Contractor’s obligations that accrue after the date of termination. Contractor shall take such action and shall execute such documents as Owner may reasonably require for such assignments to be effective and shall not enter agreements that prevent such assignment. Following termination, Contractor shall only be entitled to: (i) Fee earned up until the effective date of termination, (ii) Cost of the Work performed through the effective date of termination, and (iii) reasonable actual demobilization costs.

Owner’s Termination for Convenience. Owner may, at any time and without cause cause, terminate the Agreement, in whole or in part, by delivering to Contractor at least ten (10) Days in advance, a notice of termination for convenience specifying the extent and the effective date of termination. Upon such date of termination, Contractor shall (a) immediately and peacefully surrender possession of the Site and all Materials for which the Contractor received progress payments, and (b) assign to Owner those Subcontracts that Owner requests. Under those Subcontracts to which Owner elects to take assignment, Owner shall assume Contractor’s obligations that accrue after the date of termination. Contractor shall take such action and shall execute such documents as Owner may reasonably require for such assignments to be effective and shall not enter agreements that prevent such assignment. Following termination, Contractor shall only be entitled to: to (ia) Fee that portion of the Contract Sum earned up until the effective date of termination, (ii) Cost of the Work performed through the effective date of termination, termination and (iiib) reasonable actual demobilization costs.

Owner’s Termination for Convenience. Owner may, at any time and without cause terminate the Agreement, in whole or in part, by delivering to Contractor at least ten (10) Days in advance, a notice of termination for convenience specifying the extent and the effective date of termination. Upon such date of termination, Contractor shall (a) immediately and peacefully surrender possession of the Site and all Materials for which the Contractor received progress payments, and (b) assign to Owner those Subcontracts that Owner requests. Under those Subcontracts to which Owner elects to take assignment, Owner shall assume Contractor’s obligations that accrue after the date of termination. Contractor shall take such action and shall execute such documents as Owner may reasonably require for such assignments to be effective and shall not enter agreements that prevent such assignment. assignment.‌‌ Following termination, Contractor shall only be entitled to: (i) Fee earned up until the effective date of termination, (ii) Cost of the Work performed through the effective date of termination, and (iii) reasonable actual demobilization costs.. SAMPLE

Owner’s Termination for Convenience. Owner may, at any time and without cause cause, terminate the Agreement, in whole or in part, by delivering to Contractor at least ten (10) Days in advance, a notice of termination for convenience specifying the extent and the effective date of termination. Upon such date of termination, Contractor shall (a) immediately and peacefully surrender possession of the Site and all Materials for which the Contractor received progress payments, and (b) assign to Owner those Subcontracts that Owner requests. Under those Subcontracts to which Owner elects to take assignment, Owner shall assume Contractor’s obligations that accrue after the date of termination. Contractor shall take such action and shall execute such documents as Owner may reasonably require for such assignments to be effective and shall not enter agreements that prevent such assignment. Following termination, Contractor shall only be entitled to: to (ia) Fee that portion of the Contract Sum earned up until the effective date of termination, (ii) Cost of the Work performed through the effective date of termination, termination and (iiib) reasonable actual demobilization costs.. SAMPLE

Owner’s Termination for Convenience. Owner may, at any time and without cause cause, terminate the Agreement, in whole or in part, by delivering to Contractor at least ten (10) Days in advance, a notice of termination for convenience specifying the extent and the effective date of termination. Upon such date of termination, Contractor shall (a) immediately and peacefully surrender possession of the Site and all Materials for which the Contractor received progress payments, and (b) assign to Owner those Subcontracts that Owner requests. Under those Subcontracts to which Owner elects to take assignment, Owner shall assume Contractor’s obligations that accrue after the date of termination. Contractor shall take such action and shall execute such documents as Owner may reasonably require for such assignments to be effective and shall not enter agreements that prevent such assignment. assignment.‌‌ Following termination, Contractor shall only be entitled to: to (ia) Fee that portion of the Contract Sum earned up until the effective date of termination, (ii) Cost of the Work performed through the effective date of termination, termination and (iiib) reasonable actual demobilization costs.. SAMPLE