Common use of Default Termination and Cancellation Clause in Contracts

Default Termination and Cancellation. Termination by Default: If either party becomes aware of an event of default, that party shall give written notice of said default to the party in default that shall state the following: The alleged default and the applicable Agreement provision. That the party in default has ten (10) days upon receiving the notice to cure the default (Time to Cure). If the party in default does not cure the default within ten (10) days of the Time to Cure, then such party shall be in default and the party giving notice may terminate the Agreement by issuing a Notice of Termination. The party giving notice may extend the Time to Cure at their discretion. Any extension of Time to Cure must be in writing, prepared by the party in default for signature by the party giving notice, and must specify the reason(s) for the extension and the date in which the extension of Time to Cure expires. The following shall be events of default under this Agreement: Failure by either party to perform in a timely and satisfactory manner any or all of its obligations under this Agreement. A representation or warranty made by Placing County in this Agreement proves to have been false or misleading in any respect. Placing County fails to observe and perform any covenant, condition or agreement on its part to be observed or performed under this Agreement, unless El Dorado agrees, in writing, to an extension of the time to perform before that time period expires. Bankruptcy: El Dorado may terminate this Agreement immediately in the case of bankruptcy, voluntary or involuntary, or insolvency of Placing County. Ceasing Performance: El Dorado may terminate this Agreement immediately in the event Placing County ceases to operate as a business or otherwise becomes unable to substantially perform any term or condition of this Agreement. Termination or Cancellation without Cause: El Dorado may terminate this Agreement, in whole or in part, for convenience upon thirty (30) calendar days’ written Notice of Termination.

Default Termination and Cancellation. A. Termination by Default: If either party becomes aware of an event of default, that party shall give written notice of said default to the party in default that shall state the following: : 1. The alleged default and the applicable Agreement provision. 2. That the party in default has ten (10) days upon receiving the notice to cure the default (Time to Cure). If the party in default does not cure the default within ten (10) days of the Time to Cure, then such party shall be in default and the party giving notice may terminate the Agreement by issuing a Notice of Termination. The party giving notice may extend the Time to Cure at their discretion. Any extension of Time to Cure must be in writing, prepared by the party in default for signature by the party giving notice, and must specify the reason(s) for the extension and the date in which the extension of Time to Cure expires. 1. If County terminates this Agreement, in whole or in part, for default: County reserves the right to procure the goods or services, or both, similar to those terminated, from other sources and Consultant shall be liable to County for any excess costs for those goods or services. County may deduct from any payment due, or that may thereafter become due to Consultant, the excess costs to procure from an alternate source. 2. County shall pay Consultant the sum due to Consultant under this Agreement prior to termination, unless the cost of completion to County exceeds the funds remaining in the Agreement. In which case the overage shall be deducted from any sum due Consultant under this Agreement and the balance, if any, shall be paid to Consultant upon demand. 3. County may require Consultant to transfer title and deliver to County any completed work under the Agreement. The following shall be events of default under this Agreement: : 1. Failure by either party to perform in a timely and satisfactory manner any or all of its obligations under this Agreement. 2. A representation or warranty made by Placing County Consultant in this Agreement proves to have been false or misleading in any respect. 3. Placing County Consultant fails to observe and perform any covenant, condition or agreement on its part to be observed or performed under this Agreement, unless El Dorado County agrees, in writing, to an extension of the time to perform before that time period expires. 4. Bankruptcy: El Dorado may terminate this Agreement immediately in the case A violation of bankruptcyARTICLE XXIV, voluntary or involuntary, or insolvency Conflict of Placing County. Ceasing Performance: El Dorado may terminate this Agreement immediately in the event Placing County ceases to operate as a business or otherwise becomes unable to substantially perform any term or condition of this Agreement. Termination or Cancellation without Cause: El Dorado may terminate this Agreement, in whole or in part, for convenience upon thirty (30) calendar days’ written Notice of TerminationInterest.

Default Termination and Cancellation. A. Termination by Default: If either party becomes aware of an event of default, that party shall give written notice of said default to the party in default that shall state the following: : 1. The alleged default and the applicable Agreement provision. 2. That the party in default has ten (10) days upon receiving the notice to cure the default (Time to Cure). If the party in default does not cure the default within ten (10) days of the Time to Cure, then such party shall be in default and the party giving notice may terminate the Agreement by issuing a Notice of Termination. The party giving notice may extend the Time to Cure at their discretion. Any extension of Time to Cure must be in writing, prepared by the party in default for signature by the party giving notice, and must specify the reason(s) for the extension and the date in which the extension of Time to Cure expires. If County terminates this Agreement, in whole or in part, for default: 1. County reserves the right to procure the goods or services, or both, similar to those terminated, from other sources and Contractor shall be liable to County for any excess costs for those goods or services. County may deduct from any payment due, or that may thereafter become due to Contractor, the excess costs to procure from an alternate source. 2. County shall pay Contractor the sum due to Contractor under this Agreement prior to termination, unless the cost of completion to County exceeds the funds remaining in the Agreement. In which case the overage shall be deducted from any sum due Contractor under this Agreement and the balance, if any, shall be paid to Contractor upon demand. 3. County may require Contractor to transfer title and deliver to County any completed work under the Agreement. The following shall be events of default under this Agreement: : 1. Failure by either party to perform in a timely and satisfactory manner any or all of its obligations under this Agreement. 2. A representation or warranty made by Placing County Contractor in this Agreement proves to have been false or misleading in any respect. 3. Placing County Contractor fails to observe and perform any covenant, condition or agreement on its part to be observed or performed under this Agreement, unless El Dorado County agrees, in writing, to an extension of the time to perform before that time period expires. 4. Bankruptcy: El Dorado may terminate this Agreement immediately in A violation of the case Article titled “Conflict of bankruptcy, voluntary or involuntary, or insolvency of Placing County. Ceasing Performance: El Dorado may terminate this Agreement immediately in the event Placing County ceases to operate as a business or otherwise becomes unable to substantially perform any term or condition of this Agreement. Termination or Cancellation without Cause: El Dorado may terminate this Agreement, in whole or in part, for convenience upon thirty (30) calendar days’ written Notice of TerminationInterest.”

Default Termination and Cancellation. A. Termination by Default: If either party becomes aware of an event of default, that party shall give written notice of said default to the party in default that shall state the following: : 1. The alleged default and the applicable Agreement provision. 2. That the party in default has ten (10) days upon receiving the notice to cure the default (Time to Cure). If the party in default does not cure the default within ten (10) days of the Time to Cure, then such party shall be in default and the party giving notice may terminate the Agreement by issuing a Notice of Termination. The party giving notice may extend the Time to Cure at their discretion. Any extension of Time to Cure must be in writing, prepared by the party in default for signature by the party giving notice, and must specify the reason(s) for the extension and the date in which the extension of Time to Cure expires. If County terminates this Agreement, in whole or in part, for default: 3. County reserves the right to procure the goods or services, or both, similar to those terminated, from other sources and Contractor shall be liable to County for any excess costs for those goods or services. County may deduct from any payment due, or that may thereafter become due to Contractor, the excess costs to procure from an alternate source. 4. County shall pay Contractor the sum due to Contractor under this Agreement prior to termination, unless the cost of completion to County exceeds the funds remaining in the Agreement. In which case the overage shall be deducted from any sum due Contractor under this Agreement and the balance, if any, shall be paid to Contractor upon demand. 5. County may require Contractor to transfer title and deliver to County any completed work under the Agreement. The following shall be events of default under this Agreement: : 6. Failure by either party to perform in a timely and satisfactory manner any or all of its obligations under this Agreement. 7. A representation or warranty made by Placing County Contractor in this Agreement proves to have been false or misleading in any respect. 8. Placing County Contractor fails to observe and perform any covenant, condition or agreement on its part to be observed or performed under this Agreement, unless El Dorado County agrees, in writing, to an extension of the time to perform before that time period expires. 9. Bankruptcy: El Dorado may terminate this Agreement immediately in A violation of the case Article titled “Conflict of bankruptcy, voluntary or involuntary, or insolvency of Placing County. Ceasing Performance: El Dorado may terminate this Agreement immediately in the event Placing County ceases to operate as a business or otherwise becomes unable to substantially perform any term or condition of this Agreement. Termination or Cancellation without Cause: El Dorado may terminate this Agreement, in whole or in part, for convenience upon thirty (30) calendar days’ written Notice of TerminationInterest.”