Common use of Non-Renewal or Cancellation Clause in Contracts

Non-Renewal or Cancellation. The Bond must provide that Authority and Contractor shall be provided with sixty (60) days’ advance written notice in the event of non- renewal, cancellation, or material change to its terms. In the event of non-renewal, cancellation, or material change to the Bond terms, Contractor shall provide Authority with evidence of the new source of surety within twenty-one (21) calendar days after the date of the notice of non- renewal, cancellation, or material change. Failure to maintain the Bond, as required herein, in full force and effect as required under this Contact, will be a material breach of the Contract subject to termination of the Contract.

Non-Renewal or Cancellation. The Bond must provide that Authority and Contractor Consultant shall be provided with sixty (60) days’ advance written notice in the event of non- renewal, cancellation, or material change to its terms. In the event of non-renewal, cancellation, or material change to the Bond terms, Contractor Consultant shall provide Authority with evidence of the new source of surety within twenty-one (21) calendar days after the date of the notice of non- renewal, cancellation, or material change. Failure to maintain the Bond, as required herein, in full force and effect as required under this Contact, will be a material breach of the Contract Agreement subject to termination of the ContractAgreement.