Bankruptcy of Contractor. Contractor’s failure to provide a performance bond within thirty (30) days of execution of this Agreement. Upon any Contractor default, SBWMA may terminate or suspend this Agreement, in whole or in part. Such termination or suspension shall be effective thirty (30) days after SBWMA gives notice as provided in Section X, General Provisions, (3) Notice Procedures, except that the Agreement may be terminated or suspended in a shorter time period or immediately if the Contractor’s default endangers the health, welfare and safety of the public. If Contractor fails to cure the Default within the timeframe shown in the Notice to terminate or suspend, the SBWMA may, at its option, terminate this Agreement.
Bankruptcy of Contractor. 11.4.1.1 If the Contractor files a voluntary petition in bankruptcy or has an involuntary petition in bankruptcy filed against it, the Contractor, the Contractor as the debtor-in-possession, or the trustee of the Contractor’s bankruptcy estate shall file a motion to assume or reject the Contract under Bankruptcy Code §365, 11 U.S.C. §365, within
Bankruptcy of Contractor. 9.4.1 If Contractor institutes or has instituted against it a case under the United States Bankruptcy Code, such event may impair or frustrate the Contractor’s ability to perform its obligations under the Contract Documents. Accordingly, should such event occur:
9.4.1.1 Contractor, its trustee or other successor, shall furnish, upon request of UTA, adequate assurance of the ability of the Contractor to perform all future material obligations under the Contract Documents, which assurances shall be provided within ten (10) Days after receiving notice of the request; and
9.4.1.2 Contractor shall file an appropriate action within the bankruptcy court to seek assumption or rejection of the Agreement within sixty (60) Days of the institution of the bankruptcy filing and shall diligently prosecute such action. If Contractor fails to comply with its foregoing obligations, UTA shall be entitled to request the bankruptcy court to reject the Agreement, declare the Agreement terminated and pursue any other recourse available to the UTA under this Article 9.
9.4.2 The rights and remedies under Section 9.4.1 above shall not be deemed to limit the ability of UTA to seek any other rights and remedies provided by the Contract Documents or by law, including its ability to seek relief from any automatic stays under the United States Bankruptcy Code.
Bankruptcy of Contractor. Contractor’s failure to provide assurance of performance. Contractor shall be given 30 days from notification by the SBWMA to cure any of the foregoing Defaults arising under this Agreement, except that, if such Default is not capable of being cured within 30 days, then (a) upon prior notice by Contractor that it is invoking this provision, the cure period shall be extended for an additional 30 days, provided that Contractor diligently pursues cure, and (b) if before the end of such additional 30-day period, Contractor submits to SBWMA a plan of cure acceptable to SBWMA in its sole discretion, then the cure period shall be as set forth in such plan of cure, provided that Recology diligently pursues such cure. In the event of Contractor’s failure to cure said Default within the aforementioned cure period, the SBWMA may, at its option, immediately terminate this Agreement upon written notice to Contractor. This right of termination is in addition to any other rights of the SBWMA and the SBWMA’s termination of this Agreement shall not constitute an election of remedies. Instead, it shall be in addition to any and all other legal and equitable rights and remedies the SBWMA may have.
Bankruptcy of Contractor. The institution of any ------------------------ bankruptcy, reorganization, insolvency or similar proceedings by or against Contractor;
Bankruptcy of Contractor. 11.4.1.1 If the Contractor files a voluntary petition in bankruptcy or has an involuntary petition in bankruptcy filed against it, the Contractor, the Contractor as the debtor-in-possession, or the trustee of the Contractor’s bankruptcy estate shall file a motion to assume or reject the Contract under Bankruptcy Code §365, 11 U.S.C. §365, within Section 11.4 shall constitute a material breach of the Contract as time is of the essence with respect to Contractor’s performance of all terms of this Contract. The Contractor agrees to the granting of relief from the automatic stay of
Bankruptcy of Contractor. It is recognized that if Contractor is adjudged a bankrupt, or makes a general assignment for the benefit of creditors, or if a receiver is appointed for the benefit of its creditors, or if a receiver is appointed on account of its insolvency, such could impair or frustrate Contractor's performance of this Agreement. Accordingly, it is agreed that upon the occurrence of any such event, Owner shall be entitled to request of Contractor, or its successor in interest, adequate assurance of future performance in accordance with the terms and conditions hereof. Failure to comply with such request within ten (10) days of delivery of the request shall entitle Owner to terminate this Agreement and the accompanying rights set forth herein. In all events pending receipt of adequate assurance of performance and actual performance in accordance therewith, Owner shall be entitled to proceed with the Work with its own forces or with other contractors on a time and material or other appropriate basis, the cost of which will be back charged against the Contract Sum hereof.
Bankruptcy of Contractor. If the Contractor commits an act of bankruptcy or being a Company enters into liquidation whether compulsory or voluntary (except liquidation for the purpose of reconstruction) or a receiver is appointed or if a petition to appoint an examiner is presented to the High Court or a receiver or manager of the Contractor's business or undertaking is appointed or possession taken, by or on behalf of the holders of any debenture secured by a floating charge, of any property comprised in or subject to the floating charge or an examiner is appointed to the Contractor the Employer without prejudice to any other rights herein contained may send by registered post to the Contractor a written notice determining the employment of the Contractor under this Contract.
Bankruptcy of Contractor. The bankruptcy or insolvency of the Contractor or the withdrawal of the Contractor from proceeding with the Work in connection with the applicable Project, and failure of Borrower to procure a contract with a new general contractor satisfactory to Lenders in Lenders' reasonable discretion within thirty (30) days from the occurrence of such bankruptcy, insolvency or withdrawal; or
Bankruptcy of Contractor. Contractor’s failure to provide assurance of performance. Contractor shall be given 30 days from notification by the SBWMA to cure any default arising under this Agreement. This right of termination is in addition to any other rights of the SBWMA and the SBWMA’s termination of this Agreement shall not constitute an election of remedies. Instead, it shall be in addition to any and all other legal and equitable rights and remedies the SBWMA may have. Xxxxxxxx-Xxxxxx Industries of California, Inc.
