SUSPENSION OF WORKS, DELIVERY OR ERECTION. Section 16.1 Order to Suspend (a) Buyer may, at its sole option, upon not less than seven (7) days’ prior written notice to Seller, suspend at any time (a) the performance of all or any portions of the Work, (b) delivery of a component of the Work, or (c) erection of any portion of the Work that has been delivered to the Site. Such notice shall specify the length of time that Buyer anticipates the Work shall be suspended. (b) If the cumulative days of Work suspension totals One Hundred and Eighty (180) days, or if the Work is suspended four (4) or more separate times for a period of more than 45 days in any single instance or 180 days in aggregate, Seller may terminate this Agreement by thirty (30) days’ written notice to Buyer unless the suspension is lifted within such 30-day period, and such termination shall be treated as a Buyer voluntary termination pursuant to Section 30.1(b) (“Voluntary Termination”). (c) Unless otherwise instructed by Buyer, Seller shall during any suspension affecting the progress of the Work on Site, maintain its staff, labor and equipment on or near the Site ready to proceed with the Work upon receipt of the further instructions of Buyer. (d) If Buyer desires to extend the period of suspension for a longer time than that specified in the original notice given by Buyer, Buyer shall so notify Seller in writing and the same procedures described in article 10 (“Project Schedule”) shall be followed to determine whether to actually extend the suspension and the amount of the costs and charges which shall be incurred as a result of any such extension.
Appears in 2 contracts
Samples: Asset Purchase and Sale Agreement, Asset Purchase and Sale Agreement
SUSPENSION OF WORKS, DELIVERY OR ERECTION.
Section 16.1 Order to Suspend
(a) Buyer may, at its sole option, upon not less than seven (7) days’ prior written notice to Seller, suspend at any time (a) the performance of all or any portions of the Work, (b) delivery of a component of the Work, or (c) erection of any portion of the Work that has been delivered to the Site. Such notice shall specify the length of time that Buyer anticipates the Work shall be suspended.
(b) If the cumulative days of Work suspension totals One Hundred and Eighty (180) days, or if the Work is suspended four (4) or more separate times for a period of more than 45 45 days in any single instance or 180 days in aggregate, Seller may terminate this Agreement by thirty (30) days’ written notice to Buyer unless the suspension is lifted within such 30-day period, and such termination shall be treated as a Buyer voluntary termination pursuant to Section 30.1(b30.1(c) (“Voluntary Termination”).Termination”).
(c) Unless otherwise instructed by BuyerXxxxx, Seller shall during any suspension affecting the progress of the Work on Site, maintain its staff, labor and equipment on or near the Site ready to proceed with the Work upon receipt of the further instructions of Buyer.
(d) If Buyer desires to extend the period of suspension for a longer time than that specified in the original notice given by BuyerXxxxx, Buyer shall so notify Seller in writing and the same procedures described in article 10 (“Project Schedule”) shall be followed to determine whether to actually extend the suspension and the amount of the costs and charges which shall be incurred as a result of any such extension.extension.
Appears in 1 contract
Samples: Asset Purchase and Sale Agreement
SUSPENSION OF WORKS, DELIVERY OR ERECTION. Section 16.1 Order to Suspend
(a) Buyer may, at its sole option, upon not less than seven (7) days’ prior written notice to Seller, suspend at any time (a) the performance of all or any portions of the Work, (b) delivery of a component of the Work, or (c) erection of any portion of the Work that has been delivered to the Site. Such notice shall specify the length of time that Buyer anticipates the Work shall be suspended.
(b) If the cumulative days of Work suspension totals One Hundred and Eighty (180) days, or if the Work is suspended four (4) or more separate times for a period of more than 45 45 days in any single instance or 180 days in aggregate, Seller may terminate this Agreement by thirty (30) days’ written notice to Buyer unless the suspension is lifted within such 30-day period, and such termination shall be treated as a Buyer voluntary termination pursuant to Section 30.1(b30.1(c) (“Voluntary Termination”).Termination”).
(c) Unless otherwise instructed by Buyer, Seller shall during any suspension affecting the progress of the Work on Site, maintain its staff, labor and equipment on or near the Site ready to proceed with the Work upon receipt of the further instructions of Buyer.
(d) If Buyer desires to extend the period of suspension for a longer time than that specified in the original notice given by Buyer, Buyer shall so notify Seller in writing and the same procedures described in article 10 (“Project Schedule”) shall be followed to determine whether to actually extend the suspension and the amount of the costs and charges which shall be incurred as a result of any such extension.
Appears in 1 contract
Samples: Asset Purchase and Sale Agreement