Right to Terminate the Company's Performance of the Work Clause Samples

Right to Terminate the Company's Performance of the Work. If the COMPANY fails or refuses to prosecute the Work with such diligence as to allow completion of the Work substantially in accordance with the Project Installation Schedule, or commits a material breach of any other provision of this Agreement or the Project Documents, and provided that such breach continues for thirty (30) days after written notice to the COMPANY demanding that such breach be cured or if cure cannot be effected in such thirty (30) days, COMPANY’s failure to propose and commence a cure acceptable to the CUSTOMER within such thirty (30) days, the CUSTOMER may terminate the COMPANY’s right to proceed with the Work as specified herein. In no event shall the CUSTOMER have any obligation to compensate the COMPANY for delays arising pursuant to the COMPANY’s failure or refusal to complete the Work and damages arising in connection therewith. In such case, the CUSTOMER will give the COMPANY and its surety written notice of intention to terminate the COMPANY’s right to complete the Work and the reason therefore and, unless within seven (7) business days the delay or violation shall cease or a cure acceptable to the CUSTOMER for correcting the situation is proposed, the CUSTOMER may issue a termination notice to such effect for the COMPANY and its surety. Thereupon, the surety will be given the opportunity to complete the Work in accordance with the Project Documents. Such completion may include, but not be limited to, the use of a completing COMPANY, satisfactory to the CUSTOMER, pursuant to a written takeover agreement, the payment of a sum of money required to allow the CUSTOMER to complete the Work, or other arrangements agreed to by the CUSTOMER and the surety. If within seven (7) business days following the issuance of the termination notice, the surety fails to notify the CUSTOMER that it intends to exercise its right to undertake the Work, the CUSTOMER may take over the Work, exclude the COMPANY from the Premises and take possession of all of the COMPANY’s tools, appliances, equipment and machinery at the Premises and use the same to the full extent they could have been used by the COMPANY (without liability for trespass or conversion), incorporate into the Work all materials and equipment stored at the Premises and finish the Work as the CUSTOMER may deem expedient. In the event the CUSTOMER terminates the COMPANY’s right to complete the Work under this paragraph A.2, the COMPANY shall not be entitled to receive further payments until a...