Contractor Bankrupt. If Contractor should commence any proceeding under the Bankruptcy Act, or if Contractor be adjudged a bankrupt, or if Contractor should make any assignment for the benefit of creditors, or if a receiver should be appointed on account of Contractor's insolvency, then the City may, without prejudice to any other right or remedy, declare Contractor to be in default and complete the work by giving notice to Contractor and his surety. Contractor's surety shall complete the work and in the event Contractor's surety fails to commence completion of the work within thirty (30) days of the date of notice of default, the City shall have the right, but not the obligation, to complete or cause the completion of the work.
Contractor Bankrupt. Contractor is adjudged bankrupt, makes a general assignment for the benefit of its creditors, or a receiver is appointed on account of its insolvency;
Contractor Bankrupt. A. If Contractor should commence any proceeding under the Bankruptcy Act, or if contractor be adjudged a bankrupt, or if Contractor should make any assignment for the benefit of creditors, or if a receiver should be appointed on account of Contractor's insolvency, then the City Council may, without prejudice to any other right or remedy, terminate the Contract and complete the work by giving notice to Contractor and his surety according to the provisions of Article 5 of the General Provisions.
Contractor Bankrupt. If Contractor should commence any bankruptcy proceeding, or if Contractor is adjudged a bankrupt, or if Contractor makes any assignment for the benefit of creditors, or if a receiver is appointed on account of Contractor's insolvency, then CADA may, without prejudice to any other right or remedy, terminate the Agreement and complete the Work by giving notice as provided in Section 38, above.
