Termination for Convenience of the Owner. 10.2.1 THE OWNER MAY, AT ANY TIME UPON TEN (10) DAYS' WRITTEN NOTICE TO THE CM AND TO THE CM'S SURETY, WHICH NOTICE SHALL SPECIFY THAT PORTION OF THE WORK TO BE TERMINATED AND THE DATE SAID TERMINATION IS TO TAKE EFFECT, TERMINATE (WITHOUT PREJUDICE TO ANY RIGHT OR REMEDY OF THE OWNER) THE WHOLE OR ANY PORTION OF THE WORK FOR THE CONVENIENCE OF THE OWNER. THE CM'S SOLE REMEDY, IN THE EVENT OF SUCH TERMINATION, WILL BE THE ALLOWABLE TERMINATION COSTS PERMITTED BY PARAGRAPH 10.4. CM SHALL INCLUDE TERMINATION CLAUSES IDENTICAL TO ARTICLE 10 IN EACH OF HIS SUBCONTRACTS.
Appears in 2 contracts
Sources: Standard Form of Agreement Between Owner and Construction Manager (Construction Manager at Risk), Standard Form of Agreement Between Owner and Construction Manager (Construction Manager at Risk)