Common use of Termination Payment due to termination for Authority’s default Clause in Contracts

Termination Payment due to termination for Authority’s default. As soon as practicable after a notice for termination under Clause 16.4 has taken effect, the Authority shall immediately return the Advance Guarantee/ Performance Guarantee/ Performance Security, as the case may be, provided by the Contractor and shall proceed to determine the balance amount of the Contract Price not already paid to the Contractor. The Authority shall within 30 (thirty) days of such determination, pay the balance Contract Price to the Contractor in terms of this Contract.

Termination Payment due to termination for Authority’s default. As soon as practicable after a notice for termination under Clause 16.4 15.6 has taken effect, the Authority shall immediately return the Advance Guarantee/ Performance Guarantee/ Performance Security, as the case may be, provided by the Contractor Service Provider and shall proceed to determine the balance amount of the Quarterly Contract Price Fee not already paid to the ContractorService Provider for services performed in accordance with terms hereof, prior to termination. The Authority shall within 30 (thirty) days of such determination, pay the balance Quarterly Contract Price Fee to the Contractor Service Provider in terms of this Contract.

Termination Payment due to termination for Authority’s default. As soon as practicable after a notice for termination under Clause 16.4 16.3 has taken effect, the Authority shall subject to adjustment of any dues of Developer, immediately return the Advance Guarantee/ Performance Guarantee/ Performance Security, as the case may be, provided by the Contractor Developer and shall proceed to determine the balance amount of the Contract Price not already paid to the ContractorDeveloper. The Authority shall within 30 (thirty) days of such determination, pay the balance Contract Price to the Contractor Developer in terms of this Contract.

Termination Payment due to termination for Authority’s default. As soon as practicable after a notice for termination under Clause 16.4 16.3 has taken effect, the Authority shall immediately return the Advance Guarantee/ Performance Guarantee/ Performance Security, as the case may be, provided by the Contractor and shall proceed to determine the balance amount of the Contract Price not already paid to the Contractor. The Authority shall within 30 (thirty) days of such determination, pay the balance Contract Price to the Contractor in terms of this Contract.