Termination for Convenience Clause Clause Samples
A Termination for Convenience Clause allows one party, typically the client or purchaser, to end a contract at their discretion without needing to prove breach or fault by the other party. In practice, this clause enables the terminating party to provide notice—often with a specified advance period—and pay any agreed-upon compensation or costs incurred up to the termination date. Its core function is to provide flexibility and risk management, allowing parties to exit agreements when business needs change or projects become unnecessary, without the complications of proving cause.
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Termination for Convenience Clause. 27.1 Either party may thereafter terminate this Agreement without cause by giving nine (9) months advance written notice to the other party. In accordance with Section 16 above, all efforts will be made by D&K to preserve existing design work, transfer intellectual and physical property to CLIENT or to a CLIENT designated third party. If termination is initiated by D&K, D&K will make reasonable efforts at granting lifetime buys or building buffer inventory to enable uninterrupted Product delivery while manufacturing responsibilities are transferred to a third party. CLIENT agrees to reimburse D&K for all inventory purchased or manufactured in accordance with Section 7.3, and all charges or costs for which D&K may have reasonably incurred in the course of performance of this Agreement.
Termination for Convenience Clause
Termination for Convenience Clause. The Agency may, when the interests of the State so require, terminate this contract in whole or in part, for the convenience of the State. The Agency shall give written notice of the termination to the Contractor specifying the part of the contract terminated and when termination becomes effective. The Contractor shall incur no further obligations in connection with the terminated work and on the date set in the notice of termination the Contractor will stop work to the extent specified. The Contractor must complete the work that is not terminated by the notice of termination.