Whats the difference between a termination by convenience and termination for material breach?

Question

Accepted Answer

Termination by convenience is voluntary, while termination for material breach is due to a violation of contract terms.

Termination by convenience is initiated by the party who wishes to end the contract without any fault on the other party's part.
Termination for material breach is due to a violation of contract terms by one of the parties.
Termination by convenience is usually allowed in contracts to provide flexibility to the parties involved.
Termination for material breach may result in legal action or damages being sought by the non-breaching party.
Examples of termination by convenience include a company ending a contract with a vendor due to a change in business strategy, while an example of termination for material breach would be a contractor failing to complete a project on time or within budget.