Common use of Termination for Owner's Convenience Clause in Contracts

Termination for Owner's Convenience. Owner may for its convenience terminate any part of the Services or all remaining Services at any time upon thirty (30) days' prior written notice to Contractor specifying the part of the Services to be terminated and the effective date of termination. Promptly upon receipt of such notice, Contractor shall stop performance of the terminated Services and shall promptly order and commence demobilization with regard to the terminated Services. Contractor shall continue to prosecute the part of the Services not terminated. In case of such partial termination, the exercise of such partial termination right by Owner shall be conditioned upon the Parties' mutual and reasonable agreement on the Scope Change Order, if any, necessary to make equitable adjustments to one or more of the Guaranteed Completion Dates, the Contract Price, the Payment and Milestone Schedule, the Project Schedule, the Performance Guarantees and such other provisions of this Agreement which may be affected thereby, as appropriate. In the event of termination by Owner under this Section 15.1 at any time prior to the Commencement Date, Owner shall pay to Contractor such amounts as are required pursuant to Section 4.2.1 hereof. In the event of termination by Owner under this Section 15.1 at any time on or after the Commencement Date, Owner shall pay to Contractor such amounts as are required pursuant to Section 4.4 hereof (provided that if such termination is only of part of the Services, the provisions of said Section 4.4 shall be applied only with respect to the terminated Services); provided, that Contractor shall mitigate all damages or expenses to be borne by Owner under Section 4.4 hereof; and provided, further, that if Owner so requests, Contractor shall execute and deliver all documents and take all other steps, including legal assignments, as necessary to transfer to Owner (or to Owner's designee, which may be any other AES affiliate or any third party purchaser) all of Contractor's right, title and interest in and to all items procured by Contractor for the Project and all contractual rights of Contractor under all subcontracts, purchase orders, warranties, guarantees and other agreements for the Project, in each case in accordance with the provisions set forth in Section 4.4(a) and (b) hereof, as applicable.

Termination for Owner's Convenience. Owner may for its convenience terminate any part of the Services or all remaining Services this Contract at any time upon for its convenience. This Contract may be terminated under this Article 15.2.2 by giving Contractor written notice of termination. Upon receiving any such notice of termination, Contractor shall stop performing the Work and shall cancel as quickly as possible all orders placed by it with subcontractors and suppliers and shall use all reasonable efforts to minimize cancellation charges. Contractor shall be entitled to receive a termination payment (the "Termination Payment") equal to the sum of (i) that portion of the Contract Price that is applicable to Work completed up to the date of termination that has not previously been paid to Contractor, (ii) the costs reasonably incurred by Contractor in withdrawing its equipment and personnel from the Job Site and in otherwise demobilizing, and (iii) the costs reasonably incurred by Contractor in terminating contracts with subcontractors and suppliers pertaining to the Work. Representatives of Owner and Contractor shall determine the Contract Price amount referred to in clause (i) above in accordance with the Progress Payment Schedule in Exhibit F, and Contractor shall document the costs claimed under clauses (ii) and (iii) above to Owner's satisfaction and shall supply Owner copies of the subcontractor and supplier invoices covering amounts claimed under clause (iii) above. Contractor shall submit an invoice to Owner for the Termination Payment with the supporting information and documents referred to above, and Owner shall pay such invoice within thirty (30) days' prior written notice to Contractor specifying Days after its receipt of same unless it disputes certain elements thereof, in which event only the part undisputed portion of the Services to Termination Payment need be terminated made within such thirty (30) Day period and the effective date of termination. Promptly upon receipt of such notice, Contractor shall stop performance dispute over the remainder of the terminated Services and shall promptly order and commence demobilization with regard to the terminated Services. Contractor shall continue to prosecute the part of the Services not terminated. In case of such partial termination, the exercise of such partial termination right by Owner shall be conditioned upon the Parties' mutual and reasonable agreement on the Scope Change Order, if any, necessary to make equitable adjustments to one or more of the Guaranteed Completion Dates, the Contract Price, the claimed Termination Payment and Milestone Schedule, the Project Schedule, the Performance Guarantees and such other provisions of this Agreement which may be affected therebysubmitted to arbitration pursuant to Article 17. Pursuant to this Article 15.2.2, as appropriate. In within twenty (20) days after (1) payment of any and all liquidated damages, compensation or otherwise under Articles 12, 13, and 15, and (2) the event resolution of termination by Owner under this Section 15.1 at any time prior dispute or arbitration proceedings pursuant to the Commencement DateArticle 17, Owner shall pay to Contractor such amounts as are required pursuant to Section 4.2.1 hereof. In return the event of termination by Owner under this Section 15.1 at any time on or after the Commencement Date, Owner shall pay to Contractor such amounts as are required pursuant to Section 4.4 hereof (provided that if such termination is only of part of the Services, the provisions of said Section 4.4 shall be applied only with respect Bank Guarantee to the terminated Services); provided, that Contractor shall mitigate all damages or expenses to be borne by Owner under Section 4.4 hereof; and provided, further, that if Owner so requests, Contractor shall execute and deliver all documents and take all other steps, including legal assignments, as necessary to transfer to Owner (or to Owner's designee, which may be any other AES affiliate or any third party purchaser) all of Contractor's right, title and interest in and to all items procured by Contractor issuing bank with instructions for the Project and all contractual rights of Contractor under all subcontracts, purchase orders, warranties, guarantees and other agreements for the Project, in each case in accordance with the provisions set forth in Section 4.4(a) and (b) hereof, as applicablecancellation.