Common use of Termination of Developer for Convenience Clause in Contracts

Termination of Developer for Convenience. 22.3.1 District in its sole discretion may terminate the Facilities Lease upon five (5) days written notice to the Developer. Under a termination for convenience, the District retains the right to all the options available to the District if there is a termination for cause. In case of a termination for convenience, the Developer shall have no claims against the District except: 22.3.1.1 The actual cost for labor, materials, and services performed that is unpaid and adequately documented through timesheets, invoices, receipts, or otherwise; and 22.3.1.2 Five percent (5%) of the total cost of work performed as of the date of termination, or five percent (5%) of the value of the Work yet to be performed, whichever is less. This five percent (5%) amount shall be full compensation for all Developer's and its Subcontractor(s)’ mobilization and/or demobilization costs and any anticipated lost profits resulting from termination of the Developer for convenience.

Termination of Developer for Convenience. 22.3.1 District in its sole discretion may terminate the Facilities Lease upon five (5) days written notice to the Developer. Under a termination for convenience, the District retains the right to all the options available to the District if there is a termination for cause. In case of a termination for convenience, the Developer shall have no claims against the District except: 22.3.1.1 The actual cost for labor, materials, and services performed that is unpaid and adequately documented through timesheets, invoices, receipts, or otherwise; and 22.3.1.2 Five percent (5%) of the total cost of work performed as of the date of termination, or five percent (5%) of the value of the Work yet to be performed, whichever is less. This five percent (5%) amount shall be full compensation for all Developer's and its Subcontractor(s)’ mobilization and/or demobilization costs and any anticipated lost profits resulting from termination of the Developer for convenience.its

Termination of Developer for Convenience. 22.3.1 District in its sole discretion may terminate the Facilities Lease upon five (5) days written notice to the Developer. Under If the Developer disputes a termination for convenience, the District retains the right to all of the options available to the District as if there is a termination for cause. In case of a termination for convenience, the Developer shall have no claims against the District except: 22.3.1.1 The actual cost for labor, materials, and services performed that is unpaid and adequately documented through timesheets, invoices, receipts, or otherwise; anddocumented 22.3.1.2 Five percent (5%) of the total cost of work performed as of the date of termination, or five percent (5%) of the value of the Work yet to be performed, whichever is less. This five percent (5%) amount shall be full compensation for all Developer's and its Subcontractor(s)’ mobilization and/or demobilization costs and any anticipated lost profits resulting from termination of the Developer for convenience.