Common use of Project Termination Clause in Contracts

Project Termination. Grantee may unilaterally rescind this Contract Agreement at any time prior to the commencement of the Project. After Project commencement this Contract Agreement may be rescinded, modified or amended by mutual agreement in writing. Failure by the Grantee to comply with the terms of this Contract Agreement or any other Contract Agreement under the Act may be cause for suspension of all obligations of the State hereunder. Failure of the Grantee to comply with the terms of this Contract Agreement shall not be cause for the suspension of all obligations of the State hereunder if in the judgment of the State such failure was due to no fault of the Grantee. In such case, any amount required to settle at minimum cost any irrevocable obligations properly incurred shall be eligible for reimbursement under this AgreementContract. Because the benefit to be derived by the State, from the full compliance by the Grantee with the terms of this AgreemenContract, is the preservation, protection and net increase in the quantity and quality of parks, public recreation facilities and/or historical resources available to the people of the State of California and because such benefit exceeds to an immeasurable and unascertainable extent the amount of money furnished by the State by way of Grant FundsGrant Amount under the provisions of this ContractAgreement, the Grantee agrees that payment by the Grantee to the State of an amount equal to the amount of the Grant FundsGrant Amount disbursed under this Contract Agreement by the State would be inadequate compensation to the State for any breach by the Grantee of this AgreementContract. The Grantee further agrees therefore, that the appropriate remedy in the event of a breach by the Grantee of this Contract Agreement shall be the specific performance of this ContractAgreement. Grantee and State agree that if the Project includes development, final payment may not be made until the Project conforms substantially to this Contract Agreement and is a useable facility. Grantee and State agree that if the Project includes development, final payment may not be made until the Project conforms substantially to this Contract and is a useable facility.

Project Termination. A. Project Termination refers to the non-completion of a Grant scope. Any grant funds that have not been expended by the Grantee shall revert back to CDA. B. The Grantee may unilaterally rescind this Contract Agreement at any time prior to the commencement of the Projectproject. The commencement of the project means the date of the letter notifying Grantee of the award or when the funds are appropriated, whichever is later. After Project commencement project commencement, this Contract Agreement may be rescinded, modified or amended only by mutual agreement in writing. writing between the Grantee and CDA, unless the provisions of this agreement provide that mutual agreement is not required. C. Failure by the Grantee to comply with the terms of any legislation applicable to the grant, and/or this Contract Agreement Agreement, specified or any other Contract Agreement under the Act general, that Grantee has entered into with CDA, may be cause for suspension of all obligations of the State hereunder. Failure of the Grantee to comply with the terms of this Contract Agreement shall not be cause for the suspension of all obligations of the State hereunder if in the judgment of the State CDA until CDA determines such failure was due to no fault of the Grantee. In such case, any amount required to settle at minimum cost any irrevocable obligations CDA may reimburse Grantee for eligible costs properly incurred shall be eligible in performance of this Agreement despite non-performance of the Grantee. To qualify for reimbursement under such reimbursement, ▇▇▇▇▇▇▇ agrees to mitigate its losses to the best of its ability. D. Any breach of any term, provision, obligation or requirement of this AgreementContract. Because the benefit to be derived by the State, from the full compliance Agreement by the Grantee with the terms shall be a default of this AgreemenContractAgreement. In the case of any default by ▇▇▇▇▇▇▇, is the preservationCDA shall be entitled to all remedies available under law and equity, protection and net increase in the quantity and quality including, but not limited to: specific performance; return of parks, public recreation facilities and/or historical resources available all grant monies; payment to the people CDA of the State fair market value of California the project property or actual sales price, whichever is higher; and because such benefit exceeds payment to an immeasurable and unascertainable extent CDA of the amount costs of money furnished by the State by way of Grant FundsGrant Amount under the provisions enforcement of this ContractAgreementAgreement, the Grantee agrees that payment by the Grantee including but not limited to the State court and arbitration costs, fees, expenses of an amount equal to the amount of the Grant FundsGrant Amount disbursed under this Contract Agreement by the State would be inadequate compensation to the State for any breach by the Grantee of this AgreementContract. litigation, and reasonable attorney fees. E. The Grantee further agrees therefore, that the appropriate remedy in the event of a breach by the Grantee of this Contract Agreement shall be the specific performance of this ContractAgreement. Grantee and State CDA agree that if the Project Grant Scope includes development, final payment may not be made until the Project conforms substantially to this Contract Agreement and work described in the Grant Scope is a useable facility. Grantee and State agree that if the Project includes development, final payment may not be made until the Project conforms substantially to this Contract and is a useable facilitycomplete.

Project Termination. Grantee may unilaterally rescind this Contract Agreement at any time prior to the commencement of the Project. After Project commencement this Contract Agreement may be rescinded, modified or amended by mutual agreement in writing. Failure by the Grantee to comply with the terms of this Contract Agreement or any other Contract Agreement under the Act may be cause for suspension of all obligations of the State hereunder. Failure of the Grantee to comply with the terms of this Contract Agreement shall not be cause for the suspension of all obligations of the State hereunder if in the judgment of the State such failure was due to no fault of the Grantee. In such case, any amount required to settle at minimum cost any irrevocable obligations properly incurred shall be eligible for reimbursement under this AgreementContractAgreement. Because the benefit to be derived by the State, from the full compliance by the Grantee with the terms of this AgreemenContractAgreement, is the preservation, protection and net increase in the quantity and quality of parks, public recreation facilities and/or historical resources available to the people of the State of California and because such benefit exceeds to an immeasurable and unascertainable extent the amount of money furnished by the State by way of Grant FundsGrant Amount under the provisions of this ContractAgreementAgreement, the Grantee agrees that payment by the Grantee to the State of an amount equal to the amount of the Grant FundsGrant Amount disbursed under this Contract Agreement by the State would be inadequate compensation to the State for any breach by the Grantee of this AgreementContractAgreement. The Grantee further agrees therefore, that the appropriate remedy in the event of a breach by the Grantee of this Contract Agreement shall be the specific performance of this ContractAgreementAgreement. Grantee and State agree that if the Project includes development, final payment may not be made until the Project conforms substantially to this Contract Agreement and is a useable facility. Grantee and State agree that if the Project includes development, final payment may not be made until the Project conforms substantially to this Contract and is a useable facility.