Common use of Termination by Owner for Convenience Clause in Contracts

Termination by Owner for Convenience. Owner may, for any reason whatsoever, or without reason, terminate performance under the Contract by Design/Builder for convenience. Owner shall give written notice of such termination to Design/Builder specifying when termination becomes effective. Design/Builder shall incur no further obligations in connection with the Contract and Design/Builder shall stop Design Services and the Work when such termination becomes effective. Design/Builder shall also, at Owner's direction, either terminate or assign to Owner outstanding orders and subcontracts. Design/Builder shall settle the liabilities and claims arising out of any terminated subcontracts and orders. Owner may direct Design/Builder to assign Design/Builder's right, title and interest under terminated orders or subcontracts to Owner or its designee. Design/Builder shall transfer title and deliver to Owner such completed or partially completed Design Documents, Work and materials, equipment, parts, fixtures, information and Contract rights as Design/Builder has.

Termination by Owner for Convenience. Owner may, for any reason whatsoever, or without reason, terminate performance under the Contract by Design/Builder for convenience. Owner shall give written notice of such termination to Design/Builder specifying when termination becomes effective. Design/Builder shall incur no further obligations in connection with the Contract and Design/Builder shall stop Design Services and the Work when such termination becomes effective. Design/Builder shall also, at Owner's ’s direction, either terminate or assign to Owner outstanding orders and subcontracts. Design/Builder shall settle the liabilities and claims arising out of any terminated subcontracts and orders. Owner may direct Design/Builder to assign Design/Builder's ’s right, title and interest under terminated orders or subcontracts to Owner or its designee. Design/Builder shall transfer title and deliver to Owner such completed or partially completed Design Documents, Work and materials, equipment, parts, fixtures, information and Contract rights as Design/Builder has.