Common use of Termination by Owner Without Cause Clause in Contracts

Termination by Owner Without Cause. The Owner reserves the exclusive right to terminate this Agreement without cause as provided herein. In the event that Owner exercises its rights of termination, Owner shall provide written notice to CM of termination and the termination shall become effective upon delivery to CM of such written notice. As a condition of Owner's termination rights provided for in this paragraph, CM shall be released and discharged from all obligations arising by, through or under the terms of this Agreement, and the Payment and Performance Bond shall be terminated. In the event of any such termination by Owner, Owner shall assume and become liable for obligations, commitments and unsettled contractual claims that CM has previously undertaken or incurred in connection with the PROJECT and as authorized under this agreement. In addition, Owner shall pay CM the additional compensation described below:

Termination by Owner Without Cause. The Owner reserves the exclusive right to terminate this Agreement without cause as provided herein. In the event that Owner exercises its rights of termination, Owner shall provide 30 days written notice to CM of termination and the termination shall become effective upon delivery to CM of such the date specified in the written notice. As a condition of Owner's termination rights provided for in this paragraph, CM shall be released and discharged from all obligations arising by, through or under the terms of this Agreement, and the Payment and Performance Bond shall be terminated. In the event of any such termination by Owner, Owner shall assume and become liable for obligations, commitments and unsettled contractual claims that CM has previously undertaken or incurred in connection with the PROJECT and as authorized under this agreement. In addition, Owner shall pay CM the additional compensation described below: