Common use of Termination for Convenience by DCAMM Clause in Contracts

Termination for Convenience by DCAMM. a. DCAMM may terminate this Contract for convenience even where there has been no Material Event of Default or Technical Event of Default by giving written notice to CONTRACTOR specifying the effective date of termination. b. In the event of a termination for convenience, CONTRACTOR shall only be entitled to payment for Services performed prior to the effective date of the termination. The amount of such termination payment shall be calculated as the value of the Services performed by CONTRACTOR prior to the termination date as determined by review of the latest periodic estimate required under Section 22.5 (and any agreed upon adjustments thereto), plus a reasonable sum to cover the expenses which CONTRACTOR would not have incurred “but for” the early termination of this Contract (such as demobilization of the work force, restocking charges, termination fees payable to Subcontractors) less any amount which the DCAMM determines is necessary to correct or complete Services performed prior to the effective date of termination. c. Any payment to CONTRACTOR provided for herein shall be considered to fully compensate CONTRACTOR for all claims and expenses and those of any consultants, Subcontractors, and suppliers, directly or indirectly attributable to the termination, including any claims for lost profits. d. Upon DCAMM’s termination of this Contract for convenience as provided herein, CONTRACTOR shall: (i) Stop the Services; (ii) Stop placing orders and Subcontracts in connection with this Contract; (iii) Cancel all existing orders and subcontracts; (iv) Surrender the Premises to DCAMM in a safe condition; and (v) Transfer to DCAMM all materials, supplies, work in process, appliances, New Equipment/Systems and machinery of the Contract, and all plans, Drawings, specifications and other information and documents used in connection with this Contract.

Termination for Convenience by DCAMM. a. DCAMM may terminate this Contract for convenience even where there has been no Material Event of Default or Technical Event of Default CONTRACTOR is not in default by giving written notice to CONTRACTOR specifying the effective date of termination. b. In the event of a termination for convenience, CONTRACTOR shall only be entitled paid: (i) all sums due and owing under this Contract through the effective date of the termination, including any retainage withheld to payment for the date of termination, less any amount which DCAMM determines is necessary to correct or complete Services performed prior to the effective date of the termination. The amount of such termination payment shall be calculated as the value of the Services performed by CONTRACTOR prior to the termination date as determined by review of the latest periodic estimate required under Section 22.5 ; plus (and any agreed upon adjustments thereto), plus ii) a reasonable sum to cover the expenses which CONTRACTOR would not have incurred “but for” for the early termination of this Contract (such as demobilization of the work force, restocking charges, termination fees payable to Subcontractors) less any amount which the DCAMM determines is necessary to correct or complete Services performed prior to the effective date of termination.).. c. Lost profits shall not be payable. Any payment to CONTRACTOR provided for herein shall be considered to fully compensate CONTRACTOR for all claims and expenses and those of any consultants, Subcontractors, and suppliers, directly or indirectly attributable to the termination, including any claims for lost profits. d. Upon DCAMM’s termination of this Contract for convenience as provided herein, CONTRACTOR shall: (i) Stop the Services; (ii) Stop stop placing orders and Subcontracts in connection with this Contract; (iii) Cancel all existing orders and subcontracts; (iv) Surrender the Premises to DCAMM in a safe condition; and; (v) Transfer to DCAMM all materials, supplies, work in process, appliances, New Equipment/Systems and machinery of the Contract, and all plans, Drawings, specifications and other information and documents used in connection with this Contract.

Termination for Convenience by DCAMM. a. DCAMM may terminate this Contract for convenience even where there has been no Material Event of Default or Technical Event of Default CONTRACTOR is not in default by giving written notice to CONTRACTOR specifying the effective date of termination. b. In the event of a termination for convenience, CONTRACTOR shall only be entitled paid: (i) all sums due and owing under this Contract through the effective date of the termination, including any retainage withheld to payment for the date of termination, less any amount which DCAMM determines is necessary to correct or complete Services performed prior to the effective date of the termination. The amount of such termination payment shall be calculated as the value of the Services performed by CONTRACTOR prior to the termination date as determined by review of the latest periodic estimate required under Section 22.5 ; plus (and any agreed upon adjustments thereto), plus ii) a reasonable sum to cover the expenses which CONTRACTOR would not have incurred “but for” for the early termination of this Contract (such as demobilization of the work force, restocking charges, termination fees payable to Subcontractors) less any amount which the DCAMM determines is necessary to correct or complete Services performed prior to the effective date of termination). c. Lost profits shall not be payable. Any payment to CONTRACTOR provided for herein shall be considered to fully compensate CONTRACTOR for all claims and expenses and those of any consultants, Subcontractors, and suppliers, directly or indirectly attributable to the termination, including any claims for lost profits. d. Upon DCAMM’s termination of this Contract for convenience as provided herein, CONTRACTOR shall: (i) Stop the Services; (ii) Stop placing orders and Subcontracts in connection with this Contract; (iii) Cancel all existing orders and subcontracts; (iv) Surrender the Premises to DCAMM in a safe condition; and (v) Transfer to DCAMM all materials, supplies, work in process, appliances, New Equipment/Systems and machinery of the Contract, and all plans, Drawings, specifications and other information and documents used in connection with this Contract.