Common use of DEATH OR INCOMPETENCE OF CMR Clause in Contracts

DEATH OR INCOMPETENCE OF CMR. In the event of the death, dissolution or legal incompetence of a CMR who shall be an individual or surviving member of a sole proprietor contracting firm, such death or adjudication of incompetence shall not terminate the Contract, but shall constitute a default hereunder to the effect provided in Paragraphs 17.1, 17.2 and 17.3 hereof, and the estate of the CMR and his sureties, if any, shall remain liable hereunder to the same extent as though the CMR remained living and competent. Notice of default, as provided in Paragraph 17.1 hereof, shall not be required to be given in the event of such death or adjudication of incompetence.

DEATH OR INCOMPETENCE OF CMR. In the event of the death, dissolution or legal incompetence of a CMR who shall be an individual or surviving member of a sole proprietor contracting firm, such death or adjudication of incompetence shall not terminate the Contract, but shall constitute a default hereunder to the effect provided in Paragraphs 17.114.1, 17.2 14.2 and 17.3 hereof14.3 of these Terms and Conditions, and the estate of the CMR and his sureties, if any, shall remain liable hereunder to the same extent as though the CMR remained living and or competent. Notice of default, as provided in Paragraph 17.1 hereof14.1 of these Terms and Conditions, shall not be required to be given in the event of such death or adjudication of incompetence.