Common use of ASSIGNMENT AND INSOLVENCY Clause in Contracts

ASSIGNMENT AND INSOLVENCY. (a) The Contractor shall not assign, transfer, pledge or make other disposition of the Contract or any part thereof, or any of the Contractor’s rights, claims or obligations under the Contract except with the prior written consent of the Agency. (b) Should the Contractor become insolvent, adjudged bankrupt, or should control of the Contractor change by virtue of insolvency, the Agency may, without prejudice to any other rights or remedies, immediately terminate the Contract by giving the Contractor written notice of termination.

Appears in 6 contracts

Samples: Professional Services, Professional Services, Purchase Order

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