Common use of Payment in the Event of Termination Clause in Contracts

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.