Common use of Default by Carrier Clause in Contracts

Default by Carrier. Carrier shall be in default under this Contract if Carrier: 9.1.1. Institutes, or has instituted against it, insolvency, receivership, or bankruptcy proceedings, makes an assignment for the benefit of creditors, or ceases doing business on a regular basis; or 9.1.2. No longer holds a license or certificate that is required for Carrier to perform its obligations under the Contract and Carrier has not obtained such license or certificate within 14 calendar days after OHA’s notice or such longer period as OHA may specify in such notice; 9.1.3. Commits any material breach or default of any covenant, warranty, obligation, or agreement under this Contract, including, but not limited to, failure to pursue the work, such that Carrier’s performance under this Contract, in accordance with its terms is endangered, and where such breach, default or failure is not cured within 30 calendar days after OHA’s notice, or such longer period as OHA may specify in such notice; or 9.1.4. Has liquidated and delinquent debt owed to the State of Oregon or any department or agency of the State.

Default by Carrier. Carrier shall be in default under this Contract if Carrier: 9.1.1. Institutes, or has instituted against it, insolvency, receivership, or bankruptcy proceedings, makes an assignment for the benefit of creditors, or ceases doing business on a regular basis; or 9.1.2. No longer holds a license or certificate that is required for Carrier to perform its obligations under the Contract and Carrier has not obtained such license or certificate within 14 calendar days after OHA’s notice or such longer period as OHA may specify in such notice;; or 9.1.3. Commits any material breach or default of any covenant, warranty, obligation, obligation or agreement under this Contract, including, but not limited to, failure to pursue the work, such that Carrier’s performance under this Contract, in accordance with its terms is endangered, and where such breach, default or failure is not cured within 30 calendar days after OHA’s notice, or such longer period as OHA may specify in such notice; or 9.1.4. Has liquidated and delinquent debt owed to the State of Oregon or any department or agency of the State.