Common use of Waiver of Claims for Damages; Remedies Clause in Contracts

Waiver of Claims for Damages; Remedies. Upon any termination pursuant to this Article 10.1, Contractor agrees to waive and release any claims for damages, including without limitation loss of anticipated profits, on account of such termination. If Contractor has fully and completely performed all obligations pursuant to the Order up to the date of termination, Contractor shall recover from Owner as complete and full settlement for such termination for the Work to be performed under the Order, the actual costs of all such Work satisfactorily completed (as determined by Owner) to the date of termination, plus an allowance for reasonable overhead and profit on such costs (but not to exceed a prorated portion of such Contract Price for such Work based on the percentage of the Work properly completed to the date of termination), together with reasonable costs occasioned by such termination and not previously paid for, less such sums as Contractor has already received on account of the Work performed. In no event shall total payment to Contractor exceed the Contract Price. In no event shall any payment be made for anticipatory profit, underutilization of personnel or equipment, or items of consequential loss or damage. Owner shall not pay, or cause to be paid, any amounts due hereunder except upon receipt of documentation reasonably satisfactory to it with respect to amounts claimed by Contractor.

Waiver of Claims for Damages; Remedies. Upon any termination pursuant to this Article 10.1, Contractor agrees to waive and release any claims for damages, including without limitation loss of anticipated profits, on account of such termination. If Contractor has fully and completely performed all obligations pursuant to under the Order up to the date of termination, Contractor shall recover from Owner as complete and full settlement for such termination for the Work to be performed under the Order, the actual costs of all such Work satisfactorily completed (as determined by Owner) to the date of termination, plus an allowance for reasonable overhead and profit on such costs (but not to exceed a prorated portion of such Contract Price for such Work based on the percentage of the Work properly completed to the date of termination), together with reasonable costs occasioned by such termination and not previously paid for, less such sums as Contractor has already received on account of the Work performed. In no event shall total payment to Contractor exceed the Contract Price. In no event shall any payment be made for anticipatory profit, underutilization of personnel or equipment, or items of consequential loss or damage. Owner shall not pay, or cause to be paid, any amounts due hereunder except upon receipt of documentation reasonably satisfactory to it with respect to amounts claimed by Contractor.