Examples of Termination Sum in a sentence
To the extent the Non-Default Termination Sum is based on estimates of cost, the Parties will readjust as soon as such estimated costs can be determined.
The costs and expenses to be taken into account in the calculation of the Non-Default Termination Sum due pursuant to this Schedule B shall only be such costs and expenses to the extent that they are reasonable and proper in quantum and shall have been or will be reasonably and properly incurred.
Payment of the remaining balance of the Optional Termination Sum (the “ Optional Termination Sum Holdback Amount”), if any, shall be subject to and made in accordance with Section 9.6(f).
Whether or not any Optional Termination Sum is payable by the Sponsor to the Supplier, the Sponsor shall return any Completion and Performance Security held by the Sponsor to the Supplier within twenty (20) Business Days following receipt of a written request therefor made by the Supplier following the Termination Date, net of any amounts owing by the Supplier to the Sponsor.
If an Optional Termination occurs after the Sponsor has issued Notice to Proceed to the Supplier in accordance with Section 2.4(a) and the Supplier has provided to the Sponsor the Incremental NTP Security in accordance with Section 2.4(h), the Sponsor shall (subject to and in accordance with this Section 9.6) pay to the Supplier the Optional Termination Sum.