Common use of Termination for Cause or Convenience Clause in Contracts

Termination for Cause or Convenience. For any OETC member purchase or contract in excess of $10,000 made using federal funds, you agree that the following term and condition shall apply: The OETC member may terminate or cancel any purchase order under this Contract at any time, with or without cause, by providing seven (7) business days advance written notice to the Vendor. If this Agreement is terminated in accordance with this Paragraph, the OETC member shall only be required to pay Vendor for goods or services delivered to the OETC member prior to the termination and not otherwise returned in accordance with Vendor’s return policy. If the OETC member has paid the Vendor for goods or services not yet provided as of the date of termination, the Vendor shall immediately refund such payment(s). If an alternate provision for termination of an OETC member purchase for cause and convenience, including the manner by which it will be affected and the basis for settlement, is included in the OETC member’s purchase order, ancillary agreement, or Member Construction Contract agreed to by the Vendor, the OETC member’s provision shall control.

Termination for Cause or Convenience. For any OETC member purchase or contract in excess of $10,000 made using federal funds, you agree that the following term and condition shall apply: The OETC member may terminate or cancel any purchase order under this Contract at any time, with or without cause, by providing seven (7) business days advance written notice to the VendorContractor. If this Agreement is terminated in accordance with this Paragraph, the OETC member shall only be required to pay Vendor Contractor for goods or services delivered to the OETC member prior to the termination and not otherwise returned in accordance with VendorContractor’s return policy. If the OETC member has paid the Vendor Contractor for goods or services not yet provided as of the date of termination, the Vendor Contractor shall immediately refund such payment(s). If an alternate provision for termination of an OETC member purchase for cause and convenience, including the manner by which it will be affected and the basis for settlement, is included in the OETC member’s purchase order, ancillary agreement, or Member Construction Contract agreed to by the VendorContractor, the OETC member’s provision shall control.