Common use of Owner’s Termination for Cause Clause in Contracts

Owner’s Termination for Cause. If a Defaults occurs at any time during the Project and Contractor fails after five (5) Days written notice to commence and diligently pursue a cure to such Default or fails to actually cure the Default within a reasonable period of time, Owner may terminate the Agreement for cause and take possession of the Site and all Materials on the Site, including those Contractor owns. Owner may subsequently finish the Work by whatever reasonable methods are expedient and Contractor shall not be entitled to receive any further payment until the Work is finished. However, in the event of such a termination for Default, Contractor shall not be relieved from its obligations under the Contract Documents. If Owner completes the Work and the unpaid balance of the Contract Sum exceeds Owner’s cost and expense to finish the Work, including its consequential damages and professional services fees, Contractor shall be compensated for the Work it actually performed. However, if Owner’s costs and expenses to complete the Work, including its consequential damages and professional services fees, exceed the unpaid balance of the Contract Sum, Contractor shall pay to Owner the difference upon demand. This Section shall survive termination of the Agreement.

Owner’s Termination for Cause. If a Defaults occurs at any time during the Project and Contractor fails after five (5) Days written notice to commence and diligently pursue a cure to such Default or fails to actually cure the Default within a reasonable period of time, Owner may terminate the Agreement for cause and take possession of the Site and all Materials on the Site, including those Contractor owns. Owner may subsequently finish the Work by whatever reasonable methods are expedient and Contractor shall not be entitled to receive any further payment until the Work is finished. However, in the event of such a termination for Default, Contractor shall not be relieved from its obligations under the Contract Documents. Documents.‌ If Owner completes the Work and the unpaid balance of the Contract Sum exceeds Owner’s cost and expense to finish the Work, including its consequential damages and professional services fees, Contractor shall be compensated for the Work it actually performed. However, if Owner’s costs and expenses to complete the Work, including its consequential damages and professional services fees, exceed the unpaid balance of the Contract Sum, Contractor shall pay to Owner the difference upon demand. This Section shall survive termination of the Agreement.

Owner’s Termination for Cause. If a Defaults occurs at any time during the Project and Contractor Design-Builder fails after five (5) Days written notice to commence and diligently pursue a cure to such Default or fails to actually cure the Default within a reasonable period of time, Owner may terminate the Agreement for cause and take possession of the Site and all Materials on the Site, including those Contractor Design-Builder owns. Owner may subsequently finish the Work by whatever reasonable methods are expedient and Contractor Design-Builder shall not be entitled to receive any further payment until the Work is finished. However, in the event of such a termination for Default, Contractor Design-Builder shall not be relieved from its obligations under the Contract Documents. If Owner completes the Work and the unpaid balance of the Contract Sum exceeds Owner’s cost and expense to finish the Work, including its consequential damages and professional services fees, Contractor Design- Builder shall be compensated for the Work it actually performed. However, if Owner’s costs and expenses to complete the Work, including its consequential damages and professional services fees, exceed the unpaid balance of the Contract Sum, Contractor Design-Builder shall pay to Owner the difference upon demand. This Section shall survive termination of the Agreement.

Owner’s Termination for Cause. If a Defaults occurs at any time during the Project and Contractor fails after five (5) Days written notice to commence and diligently pursue a cure to such Default or fails to actually cure the Default within a reasonable period of time, Owner may terminate the Agreement for cause and take possession of the Site and all Materials on the Site, including those Contractor owns. Owner may subsequently finish the Work by whatever reasonable methods are expedient and Contractor shall not be entitled to receive any further payment until the Work is finished. However, in the event of such a termination for Default, Contractor shall not be relieved from its obligations under the Contract Documents. If Owner completes the Work and the unpaid balance of the Contract Sum exceeds Owner’s cost and expense to finish the Work, including its consequential damages and professional services fees, Contractor shall be compensated for the Work it actually performed. However, if Owner’s costs and expenses to complete the Work, including its consequential damages and professional services fees, exceed the unpaid balance of the Contract Sum, Contractor shall pay to Owner the difference upon demand. This Section shall survive termination of the Agreement.Agreement.‌