Termination for Buyer’s Convenience. In addition to any other termination rights available to Buyer under this Agreement, Buyer shall have the right to terminate the delivery of Work due to the economic unfeasibility of the Project for Buyer upon fifteen
Termination for Buyer’s Convenience. Buyer may terminate this Order, in whole or part, at its convenience at any time by written notice to Seller. In such event, Seller may claim only properly documented out-of-pocket costs for work already performed. For specially prepared products which are unique to Buyer’s order, any partially completed work or raw materials whose full costs are included in the cancellation charges shall be identified in writing and held by Seller for disposition in accordance with Buyer’s written instructions. At all times, Buyer’s rights and remedies are cumulative, non-exclusive and in addition to its rights and remedies at law, in equity or otherwise.
Termination for Buyer’s Convenience. Notwithstanding any other provision of this Contract, in addition to any other right that the BUYER may have under the Contract to cancel the Contract, the BUYER shall have the right to terminate the Contract, at its sole option, upon notifying the BUILDER in accordance with Article XXII, which notice may be given at any time prior to actual delivery of the VESSEL by the BUILDER to the BUYER and acceptance of the VESSEL by the BUYER. In the event the BUYER exercises such right of termination at any time after the Construction Commencement Date, the BUYER shall pay the BUILDER within thirty (30) calendar days of the BUILDER's receipt of such notice BUILDER's documented costs (including overhead costs and project closure costs) up to the date of termination, less any installment payments received by BUILDER, plus a lump sum termination fee calculated as twenty percent (20%) of any remaining installment payments which are not yet due and payable under the terms of this Contract as of the date of termination. Provided, however, that the total amount payable by the BUYER to the BUILDER shall never exceed the Contract Price. Provided, further, that no fee or cost shall be payable by the BUYER to the BUILDER in respect of BUYER's termination of either this Contract or any other contracts for construction of a vessel between the BUILDER and the BUYER in respect of which, at the time of BUYER's notice of termination, the Construction Commencement Date for such contract has not occurred. The termination fee as described in the preceding paragraph shall be the BUYER's sole financial obligation to the BUILDER and the BUILDER's exclusive remedy in the event of such termination of the Contract. Upon payment by the BUYER of the applicable termination fee to the BUILDER (or refund by the BUILDER to the BUYER, as the case may be), the BUILDER shall release the BUYER from any liability or obligation to reimburse the BUILDER for any costs or damages, including without limitation, loss of profits or revenues that the BUILDER may suffer or incur from such termination and the BUYER shall at that time release the stand-by letter of credit and the performance guarantee.
Termination for Buyer’s Convenience. In addition, Buyer has the right at any time and without cause to terminate all or any separable part of this Purchase Order by written notice. Seller will be owed only for the actual, verifiable, direct costs of any completed and satisfactory performance prior to the date of such termination, and, if any portion of the Goods will be delivered to Buyer, Seller shall also be reimbursed any direct and necessary costs incurred to preserve, protect, store, and ship such Goods to the point of delivery to Buyer. In no event shall such reimbursement include anticipated profits or revenue or other economic loss for undelivered goods or unperformed services. Any other amounts paid by Buyer for Goods shall be refunded in full to Buyer. At the time of any such termination by Buyer, Seller will immediately discontinue all work pertaining to the Purchase Order, including not placing additional purchase orders or making any other commitment, and canceling forthwith any existing purchase orders and commitments on the best possible terms. Seller will preserve and protect the Goods on hand, work in progress, supplier data, and completed work, both in its own and in its suppliers’ facilities, in accordance with Buyer’s instructions.
Termination for Buyer’s Convenience. In the event termination is not for cause, then Seller shall be entitled to receive only reasonable costs and expense incurred in performance of this Order to the date of termination, provided Seller submits notice of the costs and expense incurred to Buyer within 60 days after the date of termination. The reimbursement to Seller will be costs of materials and direct labor expended by it in reasonable anticipation of its fulfillment of this Order which are not recoverable by Seller, provided that no allowance shall be made to Seller for any anticipated effort or fee not already expended or earned. Any unused deposits or advanced payments will be refunded immediately, or, if applicable, will be deducted from the final payment to the Seller.
Termination for Buyer’s Convenience. 30.1 The Buyer, for its convenience, may at any time give written notice to the Seller to terminate the Contract in part or in whole. Notice of Termination shall specify that such termination is for the convenience of the Buyer and shall state the extent of termination and effective date of termination.
Termination for Buyer’s Convenience. Notwithstanding any other provision of this Contract, in addition to any other right that the BUYER may have under the Contract to cancel the Contract, the BUYER shall have the right to terminate the Contract, at its sole option, upon notifying the BUILDER in accordance with Article XXII, which notice may be given at any time prior to actual delivery of the VESSEL by the BUILDER to the BUYER and acceptance of the VESSEL by the BUYER. In the event the
Termination for Buyer’s Convenience. Buyer reserves the right to terminate this purchase order/contract, or any part hereof, for its sole convenience. In the event of such termination, the Seller shall immediately stop all work hereunder and shall immediately cause any and all of its suppliers and subcontractors to cease work. Subject to the terms of this purchase order/contract, the Seller shall be paid a percentage of the purchase order/contract price reflecting the percentage of work performed prior to the notice of termination, plus reasonable charges the Seller can demonstrate to the satisfaction of Buyer using its standard record keeping system, have resulted from the termination. Seller shall not be paid for any work performed or costs incurred which reasonably could have been avoided.
Termination for Buyer’s Convenience. Notwithstanding any other provision of this Contract, in addition to any other right that the BUYER may have under the Contract to cancel the Contract, the BUYER shall have the right to terminate the Contract, at its sole option, upon notifying the BUILDER in accordance with Article XXII, which notice may be given at any time prior to actual delivery of the VESSEL by the BUILDER to the BUYER and acceptance of the VESSEL by the BUYER. In the event the BUYER exercises such right of termination at any time after the Construction Commencement Date, the BUYER shall pay the BUILDER within thirty (30) calendar days of the BUILDER's receipt of such notice BUILDER's documented costs (including overhead costs and project closure costs) up to the date of termination, less any installment payments received by BUILDER, plus a lump sum termination fee calculated as twenty percent (20%) of any remaining installment payments which are not yet due and payable under the terms of this Contract as of the date of termination. Provided, however, that the total amount payable by the BUYER to the BUILDER shall never exceed the Contract Price. Provided, further, that no fee or cost shall be payable by the BUYER to the
Termination for Buyer’s Convenience. If Xxxxx's prime contract is terminated by the Government or is so changed by the Government as to necessitate termination of the Order, Buyer shall have the right to terminate the Order or any part thereof for its convenience by written notice to CTAS. Buyer shall terminate by delivering to CTAS a notice of termination specifying the extent of termination and the effective date. In the event of such termination, CTAS shall immediately stop all work and shall immediately cause any and all of its suppliers and subcontractors to cease work. CTAS shall be paid a percentage of the Order price reflecting the percentage of the work performed prior to the effec- tive date of termination, plus reasonable charges CTAS incurred resulting from the termination. CTAS shall not be required to comply with the Government cost accounting standards or Government contract cost principles for this purpose. This provision does not give Buyer or the Government any right to audit CTAS' records. CTAS shall not seek payment for any work performed or costs incurred, which reasonably could have been avoided.
