Common use of Optional Termination, Payment and Release Clause in Contracts

Optional Termination, Payment and Release. If the execution of substantially all the Works in progress is prevented for a continuous period of 84 days by reason of Force Majeure of which notice has been given under Sub-Clause 19.2 [Notice of Force Majeure], or for multiple periods which total more than 140 days due to the same notified Force Majeure, then either Party may give to the other Party a notice of termination of the Contract. In this event, the termination shall take effect 7 days after the notice is given, and the Contractor shall proceed in accordance Sub-Clause 16.3 [Cessation of Work and Removal of Contractor's Equipment]. Upon such termination, the Contract Awarder shall pay to the Contractor:

Appears in 2 contracts

Samples: Contract Agreement (Renewable Fuel Corp), Contract Agreement (Renewable Fuel Corp)

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Optional Termination, Payment and Release. If the execution of substantially all the Works in progress is prevented for a continuous period of 84 days by reason of Force Majeure of which notice has been given under Sub-Clause 19.2 [Notice of Force Majeure], or for multiple periods which total more than 140 days due to the same notified Force Majeure, then either Party may give to the other Party a notice of termination of the Contract. In this event, the termination shall take effect 7 days after the notice is given, and the Contractor shall proceed in accordance Sub-Clause 16.3 [Cessation of Work and Removal of Contractor's Equipment]. Upon such termination, the Contract Awarder Employer shall pay to the Contractor:

Appears in 1 contract

Samples: Asia Satellite Telecommunications Holdings LTD

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Optional Termination, Payment and Release. If the execution of substantially all the Works in progress is prevented for a continuous period of 84 days by reason of Force Majeure of which notice has been given under Sub-Clause 19.2 [Notice of Force Majeure], or for multiple periods which total more than 140 days due to the same notified Force Majeure, then either Party may give to the other Party a notice of termination of the Contract. In this event, the termination shall take effect 7 days after the notice is given, and the Contractor shall proceed in accordance with Sub-Clause 16.3 [Cessation of Work and Removal of Contractor's ’s Equipment]. Upon such termination, the Contract Awarder Engineer shall pay to determine the Contractorvalue of the work done and issue a Payment Certificate which shall include:

Appears in 1 contract

Samples: Contract Agreement Unit Price Contract

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