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  2. Finance Committee - Agenda - 8/1/2018 - P16

Finance Committee - Agenda - 8/1/2018 - P16

By dnadmin on Mon, 11/07/2022 - 11:30
Document Date
Wed, 08/01/2018 - 00:00
Meeting Description
Finance Committee
Document Type
Agenda
Meeting Date
Wed, 08/01/2018 - 00:00
Page Number
16
Image URL
https://nashuameetingsstorage.blob.core.windows.net/nm-docs-pages/fin_a__080120…

to complete or make sufficient progress on the work in a timely and professional
manner. Contractor shall be given an opportunity for consultation with the Owner prior
to the effective date of the termination.

Upon receipt of notice of termination for cause, Contractor shall:

a. Immediately discontinue work on the date and to the extent specified in
the notice.

b. Provide the Owner with a list of all unperformed services.

Cc. Place no further orders or sub-contracts for materials, services, or

facilities, other than as may be necessary or required for completion of
such portion of work under the contract that is not terminated.

d. Immediately make every reasonable effort to obtain cancellation upon
terms satisfactory to the Owner of all orders or sub contracts to the extent
they relate to the performance of work terminated, abandoned, or
suspended under the notice, assign to the Owner any orders or sub
contracts specified in the notice, and revoke agreements specified in the
notice.

e. Not resume work after the effective date of a notice of suspension until
receipt of a written notice from the Owner to resume performance.

In the event of a termination for cause, Contractor shall receive all amounts due and not
previously paid to Contractor for work satisfactorily completed in accordance with the
contract prior to the date of the notice, less all previous payments. No amount shall be
allowed or paid for anticipated profit on unperformed services or other unperformed
work. Any such payment may be adjusted to the extent of any additional costs
occasioned to the Owner by reasons of Contractor’s failure. Contractor shall not be
relieved of liability to the Owner for damages sustained from the failure, and the Owner
may withhold any payment to the Contractor until such time as the exact amount of
damages due to the Owner is determined. All claims for payment by the Contractor
must be submitted to the Owner within 30 days of the effective date of the notice of
termination.

If after termination for the failure of Contractor to adhere to any of the terms and
conditions of the contract or for failure to satisfactorily, in the sole opinion of the Owner,
to complete or make sufficient progress on the work in a timely and professional
‘manner, it is determined that Contractor had not so failed, the termination shall be
deemed to have been a termination at will. In that event, the Owner shall, if necessary,
make an adjustment in the compensation paid to Contractor such that Contractor
receives total compensation in the same amount as it would have received in the event
of a termination-at-will.

GENERAL PROVISIONS FOR TERMINATION

Upon termination of the contract, the Owner may take over the work and prosecute it to
completion by agreement with another party or otherwise. Upon termination of the
contract or in the event Contractor shall cease conducting business, the Owner shall
have the right to solicit applications for employment from any employee of the

AG-10

Page Image
Finance Committee - Agenda - 8/1/2018 - P16

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