Common use of Termination by Owner for Convenience Clause in Contracts

Termination by Owner for Convenience. (a) The Owner may, at any time, terminate the Contract for the Owner's convenience without cause upon the expiration of 48 hours written notice to the Contractor of such termination. (b) In the event of termination under this Article 23.04, the Contractor, upon thirty (30) days' advance written notice to the Owner, shall be entitled to recover from the Owner (i) the Contractor’s reasonable costs to terminate the remaining Work of the Contractor, its Subcontractors and suppliers, and (ii) a proportionate amount of the value of Work actually performed up to the date of such termination, for all Work completed and for proven losses with respect to any direct costs for materials, equipment, tools, and construction equipment and machinery, up to the date of such stoppage. Owner shall in no event be responsible for such costs as are in excess of the Construction Cost Limitation, or for damages for loss of anticipated profits, or other consequential, direct, indirect or special damages of any kind on account of such termination, on Work not performed on account of any termination. (c) The foregoing notwithstanding, Contractor acknowledges that the Owner is a political subdivision of the State of Texas, and the Owner shall have the right, upon failure of the governing body of the Owner and/or the Bexar County Commissioners Court to appropriate finances to meet the terms and obligations herein, to terminate the Agreement for the Owner's convenience pursuant to this Article 23.04, as of the effective date of such lack of fiscal funding.

Termination by Owner for Convenience. (a) The Owner may, at any time, terminate the Contract for the Owner's convenience without cause upon the expiration of 48 hours written notice to the Contractor of such termination. (b) In the event of termination under this Article 23.04, the Contractor, upon thirty (30) days' advance written notice to the Owner, shall be entitled to recover from the Owner Owner (i) the Contractor’s reasonable costs to terminate the remaining Work of the Contractor, its Subcontractors and suppliers, and (ii) a proportionate amount of the value of Work actually performed up to the date of such termination, for all Work completed and for proven losses with respect to any direct costs for materials, equipment, tools, and construction equipment and machinery, up to the date of such stoppage. Owner shall in no event be responsible for such costs as are in excess of the Construction Cost Limitation, or for damages for loss of anticipated profits, or other consequential, direct, indirect or special damages of any kind on account of such termination, on Work not performed on account of any termination. (c) The foregoing notwithstanding, Contractor acknowledges that the Owner is a political subdivision of the State of Texas, and the Owner shall have the right, upon failure of the governing body of the Owner and/or the Bexar County Commissioners Court to appropriate finances to meet the terms and obligations herein, to terminate the Agreement for the Owner's convenience pursuant to this Article 23.04, as of the effective date of such lack of fiscal funding.