Common use of TERMINATION BY THE OWNER Clause in Contracts

TERMINATION BY THE OWNER. If the CONTRACTOR defaults or neglects to carry out the Work in accordance with the Contract Documents or fails to perform any provision of the Contract, the OWNER may, after seven days' written notice to the CONTRACTOR and without prejudice to any other remedy he may have, make good such deficiencies and may deduct the cost thereof from the payment then or thereafter due the CONTRACTOR or, at his option, may terminate CONTRACTOR's work under the Contract and take possession of the site and of all materials, equipment, tools, and construction equipment and machinery thereon owned by the CONTRACTOR and may finish the Work by whatever method he may deem expedient, and if the unpaid balance of the Contract Sum exceeds the expense of finishing the Work, such excess shall be paid to the CONTRACTOR, but if such expense exceeds such unpaid balance, the CONTRACTOR shall pay the difference to the OWNER. These rights and remedies are in addition to any right to damages or other rights and remedies allowed by law.

TERMINATION BY THE OWNER. If the CONTRACTOR Contractor defaults or neglects to carry out the Work in accordance with the Contract Documents or fails to perform any provision of the Contract, the OWNER Owner may, after seven days' days written notice to the CONTRACTOR Contractor and without prejudice to any other remedy he may have, make good such deficiencies and may deduct the cost thereof from the payment then or thereafter due the CONTRACTOR Contractor or, at his option, may terminate CONTRACTORContractor's work under the Contract and take possession of the site and of all materials, equipment, tools, and construction equipment and machinery thereon owned by the CONTRACTOR Contractor and may finish the Work by whatever method he may deem expedient, and if the unpaid balance of the Contract Sum exceeds the expense of finishing the Work, such excess shall be paid to the CONTRACTORContractor, but if such expense exceeds such unpaid balance, the CONTRACTOR Contractor shall pay the difference to the OWNEROwner. These rights and remedies are in addition to any right to damages or other rights and remedies allowed by law.