Termination Based Upon Abandonment, Casualty or Force Majeure. If, after the Construction Commencement Date (i) Owner abandons the PROJECT (which for purposes of this paragraph shall mean the cessation of all construction and other activities relating to the PROJECT, excluding those which are necessary to wind down or otherwise terminate all outstanding obligations with respect to the PROJECT, and no recommencement of same within 12 months following the date of termination), or (ii) the PROJECT is stopped for a period of 60 consecutive days due to an instance of force majeure or the result of a casualty resulting in a loss that cannot be corrected or restored within 120 days (excluding the time required to assess the damage and complete the steps contemplated), the Owner shall have the right to terminate this Agreement and pay the CM its compensation earned or accrued to date.
