Change in Consultant's Status. The financial capability and status of Consultant were substantial inducements for CVWD to enter into this Contract. Therefore, Consultant shall, and hereby specifically acknowledges its duty to do so, notify CVWD of any significant financial change, or significant change in status of Consultant within seven (7) days of significant financial change or significant change in status. “Significant financial change” or “significant change in status” shall mean any one or more of the following: • Any action(s) by which Consultant shall consolidate with, merge, or convert the Consultant into another (partnership or corporation), • Any change in the controlling ownership of Consultant (e.g., sale of a majority of the shares in the corporation), • Any filing of bankruptcy by the Consultant (or any of its partners), • Loss of Consultant’s professional qualifications or Licenses, and • The fact that Consultant is no longer in compliance with federal or state equal opportunity laws.
Change in Consultant's Status. The financial capability and status of Consultant were substantial inducements for City to enter into this Agreement. Therefore, Consultant shall, and hereby specifically acknowledges its duty to do so, notify City of any significant financial change, or significant change in status of Consultant within seven (7) days of significant financial change or significant change in status. "Significant financial change" or "significant change in status" shall mean the following: • Any action(s) by which Consultant shall consolidate with, merge, or convert the Consultant into another (partnership or corporation), • Any filing of bankruptcy by the Consultant (or any of its partners), • Loss of Consultant's professional qualifications, and • The fact that Consultant is no longer in compliance with federal or state equal opportunity laws.
