TERMINATION AT THE CONTRACTOR’S CONVENIENCE

TERMINATION AT THE CONTRACTOR’S CONVENIENCE

  • The CONTRACTOR may, at any time and at its convenience, terminate this Subcontract in whole or in part by giving a written notice to the SUBCONTRACTOR specifying the effective date of termination.
  • If the CONTRACTOR terminates the Subcontract pursuant to Clause 15.1, then the SUBCONTRACTOR shall in accordance with such termination notice stop performance of the Subcontract Works affected on the effective date of termination, and take such steps as ordered by the CONTRACTOR to protect and hand over the Subcontract Works carried out up to the effective date of termination.
  • Upon termination of the Subcontract, the SUBCONTRACTOR shall submit to the CONTRACTOR an invoice for the Subcontract Works performed up to the effective date of termination. After receipt and verification of the SUBCONTRACTOR’s invoice, the CONTRACTOR shall determine the value of the Subcontract Works performed and pay the SUBCONTRACTOR the amount due to the SUBCONTRACTOR but shall not be obligated to pay the SUBCONTRACTOR for the anticipated profit or consequential or indirect damages. Such payments shall be in full and final settlement of all claims of the SUBCONTRACTOR as a result of such termination..

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