Cost Allocation Upon Termination Clause Samples
The 'Cost Allocation Upon Termination' clause defines how costs incurred up to the point of contract termination are distributed between the parties. Typically, it outlines which expenses each party is responsible for, such as work completed, materials purchased, or services rendered prior to termination. This clause ensures that financial responsibilities are clearly assigned if the agreement ends early, preventing disputes over payment and providing a fair mechanism for settling outstanding costs.
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Cost Allocation Upon Termination. 48 SECTION 8 MISCELLANEOUS.....................................................................48
Cost Allocation Upon Termination. In connection with the termination of this Agreement, NP, NPB, HFC and Bank each will pay their own out-of-pocket costs incurred in connection with this Agreement, and will have no other liability to any other party; provided, however, that no party to this Agreement shall be relieved or released from any liabilities or damages arising out of its intentional or willful breach of any provision of this Agreement or by a lack of good faith efforts that result in the failure to perform or fulfill any representation, warranty, covenant or condition set forth in this Agreement.
Cost Allocation Upon Termination. In connection with the termination of this Agreement under this Section 7, except as provided in Sections 7.3 and 7.4, Glacier and WesterFed will each pay their own out-of-pocket costs incurred in connection with this Agreement, and neither party will have any liability to the other party, unless this Agreement is terminated or the Transaction is not consummated due to the willful breach of a party.
Cost Allocation Upon Termination. In connection with the termination of this Agreement under this Section 7, except as provided in Sections 7.4, 7.5 and 7.6, Columbia and Astoria will each pay their own out-of-pocket costs incurred in connection with this Agreement, and will have no other liability to the other party. The parties agree that the agreements herein with respect to the Termination Fee, No-Approval Fee and the Break-Up Fee are integral parts of the transactions contemplated by this Agreement and constitute liquidated damages and not a penalty.
Cost Allocation Upon Termination. In the event that this Agreement is terminated prior to the Commercial Operation Date, (i) the Owners shall pay all pre-termination costs due and payable under the EPC Contract in accordance with the terms of the EPC Contract, and (ii) the Owners shall pay all pre-termination costs and expenses relating to the operation and maintenance of the Facility in accordance with the terms of the Operation and Maintenance Agreement, in each case in proportion to their Allocated Shares.
Cost Allocation Upon Termination. In connection with the termination of this Agreement under this Section 7, except as provided in Subsection 7.3 and 7.4, Glacier and HUB will each pay their own out-of-pocket costs incurred in connection with this Agreement, and will have no other liability to the other party. But, termination of this Agreement does not affect Glacier's rights under the Stock Option Agreement or the circumstances under which Glacier may exercise the Option.
Cost Allocation Upon Termination. In connection with the termination of this Agreement under this Section 7, except as provided in Sections 7.4, 7.5 and 7.6, Columbia and MBHC will each pay their own out-of-pocket costs incurred in connection with this Agreement, and will have no other liability to the other party. The parties agree that the agreements herein with respect to the Termination Fee and the Break-Up Fee are integral parts of the transactions contemplated by this Agreement and constitute liquidated damages and not a penalty.
Cost Allocation Upon Termination. In connection with the termination of this Agreement under this Section 7, except as provided in Sections 7.5, 7.6 and 7.7, Columbia and TCB will each pay their own out-of-pocket costs incurred in connection with this Agreement, and will have no other liability to the other party. The parties agree that the agreements herein with respect to the Termination Fee and the Break-Up Fee are integral parts of the transactions contemplated by this Agreement and constitute liquidated damages and not a penalty.
Cost Allocation Upon Termination. Upon termination, costs among the Owners shall be allocated as set forth in the Joint Ownership Agreement.
Cost Allocation Upon Termination. In connection with the termination of this Agreement under this Sect▇▇▇ ▇, ▇▇, ▇▇▇ ▇▇▇ HB each will pay their own out-of-pocket costs incurred in connection with this Agreement, and will have no other liability to any other party.