Common use of Abandonment or Default Clause in Contracts

Abandonment or Default. If Developer abandons work or defaults on the Contract, the GLO may terminate the Contract without notice. Following termination under this Section 2.03, Developer may be suspended or debarred from receiving future funding under the CDBG-DR Program. The GLO, in its sole discretion and in accordance with State and federal regulations, shall determine the period of suspension or debarment based upon the extent of the abandonment or default.

Abandonment or Default. If Developer abandons work or defaults on the Contract, the GLO may terminate the Contract without notice. Following termination under this Section 2.03, Developer may be suspended or debarred from receiving future funding under the CDBG-DR Program. The GLO, in its sole discretion and in accordance with State and federal regulations, shall determine the period of suspension or debarment shall be based upon the extent of the abandonment or defaultdefault as determined by the GLO, in its sole discretion, in accordance with State and federal regulations.