Payment in the Event of Termination Sample Clauses
The "Payment in the Event of Termination" clause defines the financial obligations that arise if the contract is ended before its natural completion. Typically, this clause outlines what payments are due to one or both parties, such as outstanding fees, compensation for work performed up to the termination date, or specific termination fees. By clearly specifying these payment terms, the clause ensures both parties understand their financial responsibilities upon termination, thereby reducing disputes and providing certainty in the event the agreement is ended early.
POPULAR SAMPLE Copied 10 times
Payment in the Event of Termination. In the event this Contract is terminated by the either party, the Contractor shall not be entitled to receive any further amounts due under this Contract until the work specified in the Scope of Work is satisfactorily completed, as scheduled, up to the date of termination. At such time, if the unpaid balance of the amount to be paid under the Contract exceeds the expense incurred by the City in finishing the work, and all damages sustained by the City or which may be sustained by the City or which may be sustained by the reason of such refusal, neglect, failure or discontinuance of Contractor performing the work, such excess shall be paid by the City to the Contractor. If the City’s expense and damages exceed the unpaid balance, Contractor and his surety shall be jointly and severally liable therefore to the City and shall pay such difference to the City. Such expense and damages shall include all reasonable legal expenses and costs incurred by the City to protect the rights and interests of the City under the Contract.
Payment in the Event of Termination. In the event this Agreement or any Work Order is terminated or canceled prior to final completion payment for the unpaid portion of the services provided by the Contractor to the date of termination and any additional services shall be paid to the Contractor.
Payment in the Event of Termination. 1. If the University terminates this Agreement for convenience as provided in Section A.1 of this Section XIII or for non-appropriation of funds as provided in section A.2 of this Article, the Contractor shall be entitled to receive, as its sole remedy, (i) all amounts due and owing as of the effective date of termination plus (ii) an amount equal to the Contractor’s actual and reasonable costs incurred after the effective date of termination to protect and preserve the Service Locations, if and as requested by the University. The Contractor hereby waives and forfeits all other claims for payment and damages including, without limitation, anticipated profits.
2. If the University terminates this Agreement “for cause” under Section A.3 of this Section XIII, the amounts due and owing as of the effective date of termination, if any, shall be withheld until such time as the University is able to determine any and all damages sustained by the University which arise from such breach. In the case of a termination for cause, Contractor shall be responsible for (a) any and all costs and expenses incurred by the University to engage another contractor to perform such Services in excess of the price that would have been paid to the Contractor under the terms of this Agreement for such Services and (b) all such other costs, expenses, liabilities and damages incurred by the University which arise as a result of the Contractor’s noncompliance and/or nonperformance under this Agreement. Once the University has determined the total amount of such damages, the amount, if any, due and owing to the Contractor on the effective date of termination shall be reduced by the amount of such damages. If the damages exceed such amount due, the Contractor shall promptly pay to the University the amount of such excess. If such amount due exceeds the University’s damages, the University shall remit payment to the Contractor in the amount of such excess. Under no circumstances shall the Contractor be entitled to receive, nor shall the University be obligated to tender to the Contractor, any payments for anticipated or lost profits.
Payment in the Event of Termination. (a) After the termination of the Agreement for any reason by the Company, including the inability of the Contractor to provide services due to disability of the Contractor, but other than for Cause, the Company shall pay to the Contractor the aggregate of (i) any unpaid Base Fee earned by that Contractor hereunder prior to the Termination Date and any unreimbursed expenses, plus an amount equal to the equivalent of the daily per diem rate inherent in the base fee multiplied by the number of excess days spent prior to the Termination Date over the number of days in the current annual period spent in excess of the Time Commitment apportioned on a straight line time basis, AND (ii) an amount, which is to be regarded as compensation for early termination, equal to the Base Fee which would otherwise have been due from the Termination Date to the then Expiration Date of the then Term, if the Expiration Date is after the Termination Date.
(b) Upon termination of the Agreement by the Company for Cause the Company shall pay the Contractor the unpaid Base Fee earned through the Termination Date and unreimbursed, actual expenses incurred by Executive in furtherance of the Company’s business, subject to any rights of set off for damages to the Company as it asserts. Except as provided in this agreement or by law, upon termination for Cause, the Company shall have no further financial obligation to Executive.
(c) Upon termination of the Agreement by the Contractor (and for this purpose the death of the Contractor shall be regarded as Termination by the Contractor with Notice given from the date of the Contractor’s death) the Company shall pay the Contractor any unpaid Base Fee earned hereunder prior to the Termination Date and any unreimbursed expenses.
Payment in the Event of Termination. In the event that (a) BidContender terminates this Agreement pursuant to this section 14 or (b) the Client indicates it is unwilling or unable to continue to perform its obligations, (each a “Termination Event”), without prejudice to BidContender’s rights and remedies hereunder, the Client will be required to pay BidContender 65% of all Fees uninvoiced as at the date of the Termination Event. The parties agree that this payment is a genuine pre-estimate of BidContender’s loss and damage arising as a consequence of the Termination Event.
Payment in the Event of Termination. Effective upon the termination of this Agreement, WCSD will be obligated to pay Superintendent (or, in the event of death, Superintendent’s estate) only such compensation as is provided in this Section 9, and in lieu of all other amounts and in settlement and complete release of all claims Superintendent may have against WCSD.
(a) In the event this Agreement and Superintendent’s employment by WCSD is terminated as the result of the expiration of the Term, WCSD shall pay Superintendent: (1) earned Salary through the last day of employment; (2) any accrued and unused paid vacation; (3) any unreimbursed appropriate expenses; and (4) any Performance Bonus awarded pursuant to Paragraph 5(b). WCSD shall not be required to pay Superintendent any other additional sum or benefit; however, the Board, in its sole discretion may also elect to pay 25% of any accrued and unused paid sick leave.
(b) In the event this Agreement and Superintendent’s employment is terminated for Cause or as the result of Superintendent’s voluntary resignation or retirement prior to the expiration of the Term of this Agreement, or death, WCSD shall pay Superintendent (or Superintendent’s estate, as applicable): (1) earned Salary through the last day of employment; (2) any accrued and unused paid vacation; (3) and any unreimbursed appropriate expenses. WCSD shall not be required to pay Superintendent any other additional sum or benefit.
(c) In the event this Agreement and Superintendent’s employment is terminated as the result of Superintendent’s Disabilitydisability or death, the Board shall place Superintendent on disability retirement status (if applicable), and he/she shall be eligible to receive any disability insurance and Nevada PERS benefits to which he/she may be entitled under any applicable WCSD insurance plans and policies in place and applicable law. In addition, WCSD shall pay Superintendent: (1) earned Salary through the last day of employment; (2) any accrued and unused paid vacation; (3) and any unreimbursed appropriate expenses; and (4) any Performance Bonus awarded pursuant to Paragraph 5(b). WCSD shall not be required to pay Superintendent any other additional sum or benefit; however, the Board in its sole discretion, may also elect to pay all or a portion of any Performance Bonus awarded pursuant to Paragraph 5(b) and/or elect to pay up to 25% of any accrued and unused paid sick leave.
(d) In the event this Agreement and Superintendent’s employment is terminated by the Bo...
Payment in the Event of Termination. In the event of termination of this Agreement for any reason by DCA, DCA shall pay only those amounts, if any, due and owing to the Service Provider services actually rendered up to and including the date of termination of the Agreement and for which DCA is obligated to pay pursuant to this agreement or Purchase Instrument. Payment will be made only upon submission of invoices and proper proof of the Service Provider’s claim. This provision in no way limits the remedies available to DCA under the Agreement in the event of termination. DCA shall not be liable for any costs incurred by the Service Provider in its performance of the Agreement, including, but not limited to, startup costs, overhead or other costs associated with the performance of this Agreement.
Payment in the Event of Termination. In the event that the Company terminates this Agreement in accordance with Section 4.2, all obligations of the Company arising under this Agreement shall cease effective with the date of termination; provided, however, the Company shall be obligated after the date of termination to pay any consulting fee and commission or reimburse any expense or fulfill any other obligation accruing prior to the date of termination.
Payment in the Event of Termination. In the event that the Executive's employment hereunder terminates due to Disability, a termination for Cause or for Serious Cause, or the Executive's death, or the Executive voluntarily terminates employment with the Company for reasons other than Disability (with voluntary retirement or termination following Executive's delivery of a Notice of Nonrenewal being a voluntary termination for purposes of this Agreement), earned but unpaid Base Salary and any earned but unpaid Incentive Compensation as of the Date of Termination shall be payable in full. However, no other payments (and, in particular, no severance shall be payable) shall be made, or benefits provided, by the Company under this Agreement except for compensatory rights to the extent already earned, vested benefits payable under the terms of Company's plans, and any other benefits which the Executive is entitled to receive under the terms of any other employee benefit programs maintained by the Company or its affiliates for its employees.
Payment in the Event of Termination. In the event this Agreement or any Assignment is terminated or canceled prior to final completion, payment for the unpaid portion of the services provided by the SURVEYOR to the date of termination and any additional services thereafter will be determined by negotiation between the CITY and the SURVEYOR. No amount shall be allowed for anticipated profit on unperformed services or other work. In the event of termination for cause, the CITY may adjust any payment to take into account any additional costs to be incurred by the CITY due to such default.