Sample Default Termination Clause PDF

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22 a. ana 492 44 of he fna appeation for payment including, but oe limite to, all supprting documento, Cerifieations an wars of leis, encumbrances or eer secures required in connection therewith and shal iy the SUBCONTRACTOR of the rests thew oto befor the end of such thity (30) day psi “The CONTRACTOR shal compare the Contact Pie with the toa pyment amount throu the expiry date ofthe Period of Maintenance, Asa result theteof, excep forthe values forthe (Change ln Works aswell asthe sons for duly permitted seing-o oF dedecton; () ifthe Contac Price exceeds the total payment amount though the expiry date of the Peo of ‘Maintenance, thon the CONTRACTOR shall pay the elfereace tthe SUBCONTRACTOR as the inl payaent, o (i) the tal payment amount tough the expiry date of the Period of Maintenance exceeds he Contract Price, thn the SUBCONTRACTOR shall pay the eiference tothe CONTRACTOR a the final psyment. The party required 0 make final pyment shall do 0 within thity (20) dys alter the CONTRACTOR delivers the foregoing recoeiistion notice {0 the SUBCONTRACTOR. The CONTRACTOR still have 0 obligadon to make final pyment unless te fil application for payment satisfies he reypitements of the CONTRACTOR, "TERMINATION FOR CONVENIENCE, “The CONTRACTOR may a sole dserxon ermine all or any pat othe Weak or the Contras, wih or witht caus, a any tine hy giving twenty-eight (28) days prior notice tothe SUBCONTRACTOR. Terinatin hy the CONTRACTOR in accordance with this provision ‘al not conse a beach of the Contractor enti the SUBCONTRACTOR to any damages clans Loses excep a expressly provided in the Contract, In dhe event os ttt or pital termination ofthe Works ofthe Contact witout ease, but or the CONTRACTOR'S eonvenisnce only, the CONTRACTOR stall pay the SUBCONTRACTOR the sums of () he conesponding potion ofthe Contact Prive atibuable to the progress of the Works actualy waged ae ofthe date of termiation, ithe value of any ‘oused or partly sed marae on the St, ane i) the ess, any, neuen peeing the ‘Woks and having the Site in a clan ad safe conion pura to erection of the Engiect. dls of which shal e caleuated and aged by and herween the CONTRACTOR and the ‘SUBCONTRACTOR. In the event of such termination, upon CONTRACTOR'S writen request, the SUBCONTRACTOR shall diver or wig tothe CONTRACTOR ny material, work ad ocument sn progres including, but not Knted to, the SUBCONTRACTOR's subcontracts ‘entered into by and between the SUBCONTRACTOR and its subsubcontacors, as the CONTRACTOR may equ For the purpose herein, the SUBCONTRACTOR sal in adsance spate in she SUBCONTRACTOR’s sobconuacts with ts sub-subcontectors tht the sub Subcontractor shall be lo obligate to apr upon sich delivery or assignment in seh case 4 a4 442 {ERMINATION FOR DEFAULT OF SUBCONTRACTOR re CONTRACTOR my inmedney ermine the Cont by sending tie of termination {othe SUBCONTRACTOR upin the occurence of one mare ofthe following events he “vet of efaul™ (a) If te SUBCONTRACTOR dishonours any check oF note isbed by i unless the SUBCONTRACTOR deronsrates hy writen evidence Gssued by the evan Financial Fratton), win seven (7) day fom te date of such dshonour, that te dishonou iy Casey aay eon theta Final problem of te SUBCONTRACTOR: (b) If the SUBCONTRACTOR tecomes the subject of a proeeeding Cor the SUBCONTRACTOR presents its petition) for bankrupey,rexeivership ecrganization in fankeupcy,conpasiton,dislition o gudation (oer than 8 voluntary gudaion for the pupone of amalgamation of seconsiucion, or makes an arrangement with or tralgnment favor ofits creditors, or goss fo crt out the Contac under 8 comanites ‘of ispetion of the SUBCONTRACTOR's creditors or (e)_Wite SUBCONTRACTOR assigns all or aay past ofthe Contract, without he consent of the CONTRACTOR in advance, o as an execution ved on is goods (the SUBCONTRACTOR fais 0 eet any of ts oigations under the Contac and seh hire 16 aot ined by the SUBCONTRACTOR within fourteen (14) dys afer the Engineer's aotizoequesting toca sich flue: oF (e) I she Engineer certifies im writing 10 the CONTRACTOR st ia it opinion the SUBCONTRACTOR |) tasabandoned the Contact oF thy without resonable excuse has filed to commence the Works, or hts sped the proses of the Works for fourteen (14) days or more afer receving from the Engineer notice to pocee fi) has tad to remove any Equipment from the Site orto pall down and replace any work for fureen (14) day of ore ar receiving the Engineer's notice that te “Sai! Equ pment oe work had been condemned and rejected hy she Engineer unde he Conse oF| iy spite previous warings by th Enginootsporsstely nepleting ocr tts lions ander tbe Carat: 1) has to the detriment of 20d workmanship, oF in deflance of the Engineer's Promptly upon te terninaion by the CONTRACTOR de tothe SUBCONTRACTOR's Eve of Default, te CONTRACTOR may, is soe ieretion (a) Eater ypon th Ske and expel she SUBCONTRACTOR therefrom without thereby voiding the Contactor releasing fhe SUBCONTRACTOR from any of is tables under the Contactor afetng the sighs and powers confered on the CONTRACTOR of the Engince by the Somat and complete the Works by ite, or employ any other subsubconractor fo complet the fs whereby the CONTRACTOR sty proceed aginst the Bank Guaranes oF any yecuity ge by ot 0a behalf the SUBCONTRACTOR for is peformance usr ast 48a 46. 464 “TERMINATION FOR DEFAULT OF CONTRACTOR “The SUBCONTRACTOR my trminate the Comet by sening a founeen (4) days pee veriten notice of termination to the CONTRACTOR vpon the cccurenee of ane or more ofthe following events: (a) tf the CONTRACTOR, without due wasn, fils o py tothe SUBCONTRACTOR the mount dae unke any cefifete ofthe Engineer with sixty (4) dys afer the sme shall have become due ad payable nder the eens ofthe Contact, unless sch tres Caused by the reson, iaclding, bu aot imted to, any deferment, withholiag or ‘deduction thatthe CONTRACTOR is etl to make under the Contac or () Ifthe CONTRACTOR becomes the subject of & proceeding (or the CONTRACTOR presenis is pttion) for bankrupley, receivership, reorganization in hankropey Composition, dolar olution (the hana voluntary liquidation Fr the purpose ff tnatgamatio or reconstvction), oF makes af aerangement with oF assigamest in favour ofits editors, oe agrces to cary out the Contract under a commie oF ispetion of he SUBCONTRACTOR’s creo. Upon the rerminaton fered tn Sub-Clune 48 ere, the SUBCONTRACTOR stall, with all reasonable devpach, remove from the Site all Construction Plant brought by the SUBCONTRACTOR thereon, tn the event of such txmiaton duc to default of tbe CONTRACTOR set forth inthis Clase, the CONTRACTOR shall pay tothe SUBCONTRACTOR the sums of (@) she comesponding portion ofthe Contract Price atbutbl othe pogres ofthe Works seal exeevied a ofthe fhe of termination. the vl of any vnused or partialy wsed materials on the Ste and i) the costs if any, need in protecting. the Works and leaving the Sie in a clean and safe ‘ondion prs retin ofthe Engineer, INDEMNITY AND REMEDY The SUBCONTRACCOR shall defend, domi, and Wold hemes the CONTRACTOR, the COMPANY, nny Poon acting fr oo bel of the CONTRACTOR anor the COMPANY fi hee respective enployers, afin, agents, oiests, patie, ecto, shareblders, and sign, from and agai: (a) All hr pty hms, andl Lass fo body injury wr propery damage hat ecty or Idetly ana tof or es oe, Buen toe extent GW —neligen. reckless, oF eerwise tuous act of omission (including, but not invited, sae Habis), ing te pecormance of te Works, or any euative scion ander any watany following the performance of the Works of the SUBCONTRACTOR or ay of is afiiaes, any of their subsibeontrators, oF anyone stely oe indirectly employed by any of them, or anyone for whose ats sh Pesan ay be ae: oF SS. i) boca the SUBCONTRACTOR of ny poison he Contact nor \ Sw Lawes ined she CONTRACTOR, he COMPANY sno ny ofthe af pen tc ats dtr has, st es hr ny es kd by he

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