Default Termination and Suspension. The occurrence of any one or more of the following events shall constitute an Event of Default by a Party hereunder:
(a) A Party makes a general assignment for the benefit of its creditors, is generally unable to pay its debts as they become due, or becomes the subject of any voluntary or involuntary bankruptcy, insolvency, arrangement, reorganization or other debtor relief proceeding under any Applicable Laws and, in the case of an involuntary proceeding instituted against a Party by a third party, the proceeding is not dismissed or stayed within forty-five (45) days after it is commenced;
(b) With regard to Buyer, Xxxxx fails to pay to Siemens any required payment, which failure continues for ten (10) days after receipt of written notice thereof from Siemens;
(c) A Party has made a material misrepresentation under the Agreement that is likely to have a material adverse effect on its ability to perform its obligations hereunder, and such representation is not made true within thirty (15) days after receipt of written notice thereof from the other Party; or
(d) A Party is otherwise in material default of any provision of this Agreement or has materially failed to perform its obligations under this Agreement, provided that if such material default of this Agreement or material failure to perform this Agreement can be cured within a commercially reasonable timeframe, the defaulting Party shall be permitted such period of time within which to accomplish such cure, so long as the Party commences such cure efforts within thirty (30) days after written notice from the other Party and thereafter diligently proceeds to complete such cure within such time period. Upon the occurrence and during the continuation of any Event of Default hereunder, the non-defaulting Party, in addition to its right to pursue any other remedy given under the Agreement, shall have the right to terminate this Agreement upon not less than five (5) days prior written notice to the defaulting Party (a “Termination for Cause”). A Termination for Cause shall be effective upon the sixth (6th) day following delivery of the notice with respect thereto.
Default Termination and Suspension. 13.1 The Company may suspend or terminate immediately, without incurring any liability, any Contract, and the payment of all amounts owing by the Customer to the Company under these Terms shall immediately become due and payable, if the Customer:
13.1.1 is in breach of any term of these Terms or any Contract with the Company;
13.1.2 is unable to pay its debts as they fall due (or is deemed to be unable to pay its debts under the Companies Act 1993) or ceases or threatens to cease conducting its business in the normal manner;
13.1.3 enters into, or attempts to enter into, any composition, assignment or other arrangement with, or for the benefit of, its creditors;
13.1.4 becomes, threatens or resolves to become, or is in jeopardy of becoming insolvent;
13.1.5 being a partnership, dissolves, threatens or resolves to dissolve or is in jeopardy of dissolving; or
13.1.6 being a natural person, dies or becomes bankrupt.
13.2 Termination of any Contract shall not relieve the Customer of its obligations to pay all money owing by it to the Company on any account whatsoever, which money shall be payable immediately notwithstanding that due date for payment may not have arrived and any Terms able to survive termination shall continue to apply. Termination of any Contract shall not relieve the Customer from liability arising from any antecedent breach of the terms of that Contract.
Default Termination and Suspension. 94 GC 11.1 Owner’s Right to Perform the Work, Terminate the Contractor’s Right to Continue with the Work, Terminate the Agreement or Suspend the Work 94 GC 11.2 Contractor’s Right to Terminate the agreement 99 GC 11.3 Other Termination Obligations 100 12. DISPUTE RESOLUTION 100 GC 12.1 Dispute Resolution 100 GC 12.2 Adjudication 101 GC 12.3 Negotiations 104 GC 12.4 Mediation 104 GC 12.5 Arbitration 105 GC 12.6 Rights of Both Parties 105 13. OTHER PROVISIONS 105 GC 13.1 Ownership of Existing Materials and Equipment 105 GC 13.2 Construction Liens 106 GC 13.3 Ownership of Contractor Documents 106 GC 13.4 Owner Supplied Material 107 GC 13.5 Confidential Information and Personal Information 108 1. CHANGES IN THE WORK BASED ON UNIT PRICES SET OUT IN THE AGREEMENT 112 2. CHANGES IN THE WORK ON A NEGOTIATED FIXED PRICE OR NEGOTIATED UNIT PRICE BASIS 112 3. CHANGES IN THE WORK ON A TIME AND MATERIAL BASIS – VERTICAL APPROACH 114
Default Termination and Suspension.
11.1 OWNER’S RIGHT TO PERFORM THE WORK, TERMINATE THE CONTRACTOR’S RIGHT TO CONTINUE WITH THE WORK, TERMINATE THE AGREEMENT OR SUSPEND THE WORK
11.1.1 If the Contractor is adjudged bankrupt, or makes a general assignment for the benefit of creditors because of the Contractor’s insolvency, or if a receiver is appointed because of the Contractor’s insolvency, the Owner may, without prejudice to any other right or remedy the Owner may have, immediately terminate the Contractor’s right to continue with the Work or immediately terminate the Agreement, by giving the Contractor or receiver or trustee in bankruptcy Notice in Writing to that effect specifying the date upon which such termination becomes effective.
Default Termination and Suspension. 10.1 If the Tax Invoice is not paid by the Due Date:
10.1.1 the Company is entitled to suspend all further Delivery of Goods and/or Services until full payment is made by the Purchaser; and
10.1.2 the Company may exercise its legal rights to recover what is owed in the event of non-payment.
10.1.3 The Company may, without prejudice to any of its rights or remedies, terminate any Agreement with the Purchaser immediately, and without any liability to the Purchaser, if any payment is not made by the Due Date or at the time or times specified in the Agreement.
10.2 If there is a dispute between the Company and the Purchaser relating to the Goods or to any Goods previously sold to the Purchaser, then the Company may at its absolute discretion either terminate the Agreement by giving notice to the Purchaser or require as a condition of Delivery that the Goods be paid for on a cash on delivery basis.
10.3 Upon termination of an Agreement, the Company shall be released from all liability to Deliver any Goods to the Purchaser whether paid for or not.
10.4 Where the Goods have been paid for or partly paid for and the Agreement is terminated because of the Purchaser’s breach of the Agreement, the Company shall be entitled to retain a reasonable sum to cover any damage or loss it has sustained as a consequence of the Purchaser’s breach.
Default Termination and Suspension. Nagrom may terminate this Agreement for any reason by giving the Client 30 days' written notice.
Default Termination and Suspension. 23.1 If CONTRACTOR shall become insolvent; or if insolvency, receivership or bankruptcy proceedings shall be commenced by or against CONTRACTOR; or if CONTRACTOR shall assign or transfer this CONTRACT or any right or interest therein, except as expressly permitted under Article 25; or if the interest of CONTRACTOR shall devolve upon any person or corporation otherwise than as herein permitted; or if CONTRACTOR shall fail to make prompt payment for labor or materials without justification, or persistently disregard laws or ordinances or the lawful requirements of any competent authority or instructions of COMPANY; or if, except for any of the reasons stated in Article 27, CONTRACTOR shall fail, neglect, refuse or be unable at any time during the course of the WORK to provide ample material, equipment, services, or labor to perform the WORK at a rate such that CONTRACTOR will complete the same on the agreed-to schedule; or if CONTRACTOR shall default in its performance of a material representation, warranty or guaranty or other provision of this CONTRACT; then COMPANY and CONTRACTOR shall have the following rights, obligations, and duties:
23.1.1 COMPANY without prejudice to any of its other rights or remedies under this CONTRACT may terminate this CONTRACT after written notice to CONTRACTOR of the default if CONTRACTOR fails to commence to remedy the default within ten (10) days.
23.1.2 CONTRACTOR shall, if required, withdraw from any construction locations, the COMPANY furnished SITE and assign to COMPANY such of CONTRACTOR’S contracts and subcontracts as COMPANY may request and shall remove such materials, equipment, tools and instruments used by CONTRACTOR in the performance of the WORK as COMPANY may direct.
23.1.3 COMPANY, without incurring any liability to CONTRACTOR, shall have the right (either with or without the use of CONTRACTOR’S materials, equipment, tools and instruments purchased for the WORK) to finish the WORK itself or with the assistance of third parties.
23.1.4 CONTRACTOR shall be liable for any excess cost of the WORK not exceeding twenty percent (20%) of the CONTRACT PRICE set forth in Article 7.1 incurred by COMPANY on account of any of the circumstances described in this Article. COMPANY shall be entitled to withhold further payments to CONTRACTOR until COMPANY determines that CONTRACTOR is entitled to further payments. Upon completion of the WORK by COMPANY or third parties, the total cost of the WORK shall be determined and COMPANY...
Default Termination and Suspension a. If CONTRACTOR shall become insolvent; or insolvency, receivership or bankruptcy proceedings shall be commenced by or against CONTRACTOR under the laws of any jurisdiction; or if CONTRACTOR shall assign or transfer this AGREEMENT or any right or interest therein, except as expressly permitted under Article 19, ASSIGNMENTS, SUBCONTRACTS AND PURCHASE ORDERS, CONTRACTOR, or if the interest of CONTRACTOR shall devolve upon any person or corporation otherwise than as herein permitted; or if CONTRACTOR shall fail to make prompt payment for labor or materials, or disregards laws or ordinances or the lawful requirements of any competent authority or instructions of COMPANY; or if, except for any of the reasons stated in Article 21, FORCE MAJEURE shall fail, neglect, refuse or be unable at any time during the course of the WORK to provide ample material, equipment, services, or labor to perform the WORK with the quality and/or at a rate deemed sufficient by COMPANY to comply with the required warranties, guarantees, or representations and/or to meet the Contract Master Schedule, or if CONTRACTOR fails to give reasonable assurance that CONTRACTOR shall complete the same as required; or if in COMPANY's opinion, CONTRACTOR is in or will default in its performance of a material representation, warranty or guarantee or other provision of this AGREEMENT, any other Agreement between COMPANY and CONTRACTOR; then COMPANY and CONTRACTOR shall have the following rights, obligations, and duties:
i) COMPANY without prejudice to any of its other rights or remedies may terminate this AGREEMENT forthwith in its entirety, or may terminate all or any portion of the WORK under this AGREEMENT by giving written Notice of Termination to CONTRACTOR under this Section;
ii) CONTRACTOR shall, if required, withdraw form the COMPANY-furnished site and assign to COMPANY such of CONTRACTOR's
Default Termination and Suspension. 26 18. LIENS, CLAIMS AND ENCUMBRANCES ....................................... 28
Default Termination and Suspension. 93 GC 11.1 Owner’s Right to Perform the Work, Terminate the Contractor’s Right to Continue with the Work, Terminate the Agreement or Suspend the Work 4 GC 11.2 Contractor’s Right to Terminate the agreement 98 GC 11.3 Other Termination Obligations 99
