Common use of Stop Work and Termination Clause in Contracts

Stop Work and Termination. 12.1 OWNER’S RIGHT TO STOP WORK OR TERMINATE FOR CONVENIENCE. 12.1.1 Owner at any time may, without cause and for its convenience, order CM@Risk in writing to stop or suspend its Work, for a period not to exceed sixty (60) calendar days. CM@Risk may seek an adjustment of the GMP or Time(s) of performance or both under Section 9 and 10 of the General Conditions to the extent that its work has been adversely impacted by any such suspension or stoppage of work by Owner, unless actions, omissions or inactions of the CM@Risk are the cause of the Owner stopping or suspending the Work. 12.1.2 Upon seven (7) calendar day’s written notice to CM@Risk, Owner may, without cause and without prejudice to any other right or remedy of Owner, elect to terminate the Agreement for convenience of the Owner. In such case CM@Risk shall be paid (without duplication of any items): a) for completed and accepted Work performed in accordance with Contract Documents prior to the effective date of the termination, including fair and reasonable sums for overhead and profit on such Work; b) for expenses incurred prior to termination in performing services and furnishing labor, materials and equipment as required by the Contract Documents in connection with uncompleted Work, plus fair and reasonable sums for overhead and profit on such expenses; and c) for all claims, costs, losses and damages incurred in settlement of terminated contracts with Subcontractors, suppliers and others. 12.1.3 Upon receiving a Notice of Termination for Convenience, the CM@Risk shall proceed as follows: a) stop work as specified in the Notice, b) award no further subcontracts, c) terminate all subcontracts to the extent they relate to the Work terminated, d) assign to the Owner all rights of the CM@Risk under terminated subcontracts, in which case Owner shall have the right to settle or to pay any termination settlement proposal arising out of these terminations, and e) submit complete termination inventory schedules to Owner no later than one hundred twenty (120) calendar days from date of the Notice of Termination.