Common use of Termination by Owner Without Cause Clause in Contracts

Termination by Owner Without Cause. (1) If the Owner terminates this Agreement or any Project Agreement other than pursuant to Article 14.2(2) or Article 14.3(2), Owner shall reimburse Contractor for any unpaid Cost of the Project due Contractor under any Project Agreement in effect, plus that part of the unpaid balance of the Construction Phase Fee in an amount equal to the Construction Phase Fee multiplied times the percentage of the construction project completed. The percentage shall be determined by the project team. The Owner shall also pay to Contractor fair compensation, either by purchase or rental at the election of the Owner, for any equipment retained. In case of such termination, the Owner shall further assume and become liable for obligations, commitments and unsettled contractual claims that Contractor has previously undertaken or incurred in good faith in connection with the Project. Contractor shall, as a condition of receiving the payments referred to herein, execute and deliver all such papers and take all such steps including the legal assignment of Contractor’s contractual rights, as the Owner may require for the purpose of fully vesting in Owner the rights and benefits of Contractor under such obligations or commitments. (2) After the establishment of the GMP or at the completion of the Design Phase, if the final cost estimates or lack of funding make the Project no longer feasible from the standpoint of the Owner, the Owner may terminate the Project Agreement and pay Contractor its proportionate fee due in accordance with the Project Agreement plus any costs incurred as allowed herein.

Termination by Owner Without Cause. (1) If the Owner terminates this Agreement or any Project Agreement other than pursuant to Article 14.2(2) 14.2 or Article 14.3(2), Owner shall reimburse Contractor for any unpaid Cost of the Project due Contractor under any Project Agreement in effect, plus that part of the unpaid balance of the Construction Phase Fee in an amount equal to the Construction Phase Fee multiplied times the percentage of the construction project completed. completed The percentage shall be determined by the project team. The Owner shall also pay to Contractor fair compensation, either by purchase or rental at the election of the Owner, for any equipment retained. In case of such termination, the Owner shall further assume and become liable for obligations, commitments and unsettled contractual claims that Contractor has previously undertaken or incurred in good faith in connection with the Project. Contractor shall, as a condition of receiving the payments referred to herein, execute and deliver all such papers and take all such steps including the legal assignment of Contractor’s contractual rights, as the Owner may require for the purpose of fully vesting in Owner the rights and benefits of Contractor under such obligations or commitments. (2) After the establishment of the GMP Guaranteed Maximum Price or at the completion of the Design Phase, if the final cost estimates or lack of funding make the Project no longer feasible from the standpoint of the Owner, the Owner may terminate the Project Agreement and pay Contractor its proportionate fee due in accordance with the Project Agreement plus any costs incurred as allowed herein.