Common use of Termination Management Clause in Contracts

Termination Management. Immediately upon receipt by either the AOC or the Contractor of notice of termination of this Agreement, the Contractor shall: 1) not incur any further obligations for salaries, services or any other expenditure of funds under this Agreement without the written approval of the AOC; 2) comply with all directives issued by the AOC in the notice of termination as to the performance of work under this Agreement; and 3) take such action as the AOC shall direct for the protection, preservation, retention or transfer of all property titled to the AOC and records generated under this Agreement. Any non- expendable personal property or equipment provided to or purchased by the Contractor with contract funds shall become the property of the AOC upon termination and shall be submitted to the AOC as soon as practicable.