Common use of Termination of the Project for Delay Clause in Contracts

Termination of the Project for Delay. If the Applicant suspends or delays the Project for any reason whatsoever for a period in excess of three (3) months, or for periods which in aggregate exceed three (3) months during the Term of the Project, then Alberta Innovates may terminate this Investment Agreement immediately up on notice to the Applicant and Associate, in which case Alberta Innovates will have no further payment obligation. If the Applicant or the Associate terminates their part of the Project for any reason prior to the Project Completion Date, Alberta Innovates must be notified immediately. Nothing will excuse the Applicant and Associate from providing a Progress Report summarizing the outcomes of the Project up to such date of termination.

Termination of the Project for Delay. If the Applicant suspends or delays the Project for any reason whatsoever for a period in excess of three (3) months, or for periods which in aggregate exceed three (3) months during the Term of the Project, then Alberta Innovates may terminate this Investment Agreement immediately up on upon notice to the Applicant and Associate, in which case Alberta Innovates will have no further payment obligation. If the Applicant or the Associate terminates their part of the Project for any reason prior to the Project Completion Date, Alberta Innovates must be notified immediately. Nothing will excuse the Applicant and Associate from providing a Progress Report summarizing the outcomes of the Project up to such date of termination.

Termination of the Project for Delay. If the Applicant or the Industry Partner suspends or delays the Project for any reason whatsoever for a period in excess of three one (31) monthsyear, or for periods which in the aggregate exceed three twelve (312) months during the Term term of the Project, then Alberta Innovates may terminate this Investment Agreement immediately up on upon notice to the Applicant and AssociateIndustry Partner, in which case Alberta Innovates will have no further payment obligation. If any one of the Applicant or the Associate Industry Partner terminates their part of the Project for any reason prior to the Project Completion Date, Alberta Innovates must be notified immediately. Nothing will excuse the Applicant and Associate Industry Partner from providing a Progress Report summarizing the outcomes of the Project up to such date of termination.

Termination of the Project for Delay. If the Applicant suspends or delays the Project for any reason whatsoever for a period in excess of three twelve (312) months, or for periods which in the aggregate exceed three twelve (312) months during the Term of the Project, then Alberta Innovates may terminate this Investment Agreement immediately up on upon notice to the Applicant and Associate, in which case Alberta Innovates will have no further payment obligation. If any one of the Applicant or the Associate terminates their part of the Project for any reason prior to the Project Completion Date, Alberta Innovates must be notified immediately. Nothing will excuse the Applicant and Associate from providing a Progress Final Report summarizing the outcomes of the Project up to such date of termination.