CLAIMS UPON TERMINATION Sample Clauses

CLAIMS UPON TERMINATION. ‌ 1. Upon receipt of a Notice of Termination, the Contractor shall: a. Cease any further deliveries or work due under this Contract, on the date, and to the extent, which may be specified in the Notice of Termination; b. Place no further orders with any subcontractors except as may be necessary to perform any portion of the Contract not subject to the Notice of Termination (i.e., in the case of partial termination); c. Terminate all subcontractors except to the extent necessary to complete work which was not subject to the Notice of Termination (i.e., in the case of partial termination); ▇. ▇▇▇▇▇▇ all outstanding liabilities and claims which may arise out of such termination, with the ratification of the Contract Administrator and the Purchasing Manager; and e. Use its best efforts to mitigate any damages which may be sustained by the Contractor or any of its subcontractors as a consequence of termination under this clause. 2. After complying with the foregoing provisions, the Contractor shall submit a termination claim within thirty days unless an extension is granted by the Contract Administrator. This termination claim shall document all amounts due under this provision. a. Upon receipt of the Contractor’s termination claim, the Contract Administrator, with the approval of the Purchasing Manager, shall pay from the Using Department's budget the reasonable costs of termination, including a reasonable amount for profit on Services delivered or completed. In no event shall this amount be greater than the original Contract price, reduced by any payments made prior to Notice of Termination, and further reduced by the price of the Goods or Services not delivered, or those Goods, Services, or Insurance not provided, or Construction work not performed. The calculation of the amount to be paid the Contractor shall be documented and made a part of the Contract file. b. If the parties cannot agree on the whole amount to be paid to the Contractor by reason of termination under this clause, the Contract Administrator, with the approval of the Purchasing Manager, shall pay the Contractor from the Using Department’s budget the amounts determined as follows, without duplicating any amount which may have already been paid under the preceding paragraph of this clause: i. With respect to all Contract performance prior to the effective date of Notice of Termination, the total of: • Cost of the Goods delivered or work performed; and • The reasonable cost of settling and pay...
View SourceView Similar (32)

Related to CLAIMS UPON TERMINATION

  • Rights Upon Termination Except as expressly provided in Section 6, upon the termination of the Executive’s Employment pursuant to this Section 5, the Executive shall only be entitled to the compensation, benefits and reimbursements described in Sections 2, 3 and 4 for the period preceding the effective date of the termination. The payments under this Agreement shall fully discharge all responsibilities of the Company to the Executive.

  • Liabilities Upon Termination If this Agreement is terminated for any reason other than those set forth in Section 12.01 or is breached, nothing contained herein shall be construed to limit Seller’s or Buyer’s legal or equitable remedies including, without limitation, damages for the breach or failure of any representation, warranty, covenant or agreement contained herein and the right to enforce specific performance of this Agreement.