TERMINATION AFTER ACCEPTANCE. In the event the Government, following Acceptance of the Project under the Contract, terminates the Contract, the Seller shall direct the Government to remit to the Buyer an amount equal to the Termination Schedule Amount then owing as set forth in the Contract, from which the Buyer shall, in the absence of the occurrence of an Event of Default, be entitled to retain the Termination Amount and shall remit any balance to the Seller in accordance with Section 3.4.
Appears in 2 contracts
Sources: Assignment and Security Agreement (Northeast Utilities System), Assignment and Security Agreement (Northeast Utilities System)