Common use of Agreement for Completion Clause in Contracts

Agreement for Completion. Notwithstanding the generality of Paragraph 14.2, if this Agreement is terminated by the Company for breach of any provision by the Contractor, the Company may, at its option upon notice to the Contractor, hire such personnel and equipment and make such other expenditures as may be required to perform this Agreement and complete the Work and may: (a) recover from the Contractor by deduction or set- off from any monies due to the Contractor the amount by which the cost to perform this Agreement and complete the Work exceeds the amount that the Company would have otherwise paid under this Agreement to the Contractor to do so, provided, and to the extent, the excess amount was reasonably incurred; and (b) if the amount of such set-off monies is not sufficient at any time to pay the amount referred to in subparagraph (a), the Contractor shall forthwith, upon demand, pay the amount of any such deficiency to the Company, provided that, where this Agreement is partially terminated by the Company, this provision will apply only to the portion of the Work so terminated by the Company and this Agreement will otherwise remain in full force and effect as to the balance of Work to be performed by the Contractor hereunder.