Common use of Release Upon Termination Clause in Contracts

Release Upon Termination. Upon termination of the Contract by OMPA, OMPA will be released from further liability to Contractor or Surety Company. If Contractor cannot be located, the payment for any amount owed to Contractor for work performed will be held by OMPA for the Contractor for Thirty-Six (36) months, at which time payment will be deemed waived by the Contractor and OMPA will be released from any further liability to Contractor or Surety Company.

Release Upon Termination. Upon termination of the Contract by OMPA, OMPA will be released from further liability to Contractor or Surety Company. If Contractor cannot be located, the payment for any amount owed to Contractor for work performed will be held by OMPA for the Contractor for Thirty-Six (36) months, at which time payment will be deemed waived by the Contractor and OMPA will be released from any further liability to Contractor or Surety Company.