Common use of Notice of Default; Cure of Default; Right to Suspend Work Clause in Contracts

Notice of Default; Cure of Default; Right to Suspend Work. Corporation shall give Contractor a written Notice of Default specifying the nature of the default and providing a commercially reasonable time for Contractor to cure the default. If Corporation determines, in its sole discretion, that the nature of the default justifies it, Corporation shall have the right to direct Contractor to suspend further work on the SOW and performance of the SOW until the default is corrected and cured. Upon receiving the Notice of Default, Contractor shall immediately suspend the work except such operations as may be necessary to prevent damage to property and to secure the area so it meets safety, health, and environmental requirements. Contractor shall resume the work when Corporation serves Contractor with written notice lifting the suspension.

Notice of Default; Cure of Default; Right to Suspend Work. Corporation shall give Contractor a written Notice of Default specifying the nature of the default and providing a commercially reasonable time for Contractor to cure the default. If Corporation determines, in its sole discretion, that the nature of the default justifies it, Corporation shall have the right to direct Contractor to suspend further work on the SOW and performance of the SOW until the default is corrected and cured. Upon receiving the Notice of Default, Contractor shall immediately suspend the work except such operations as may be necessary to prevent damage to property and to secure the area so it meets safety, health, and environmental requirements. Contractor shall resume the work when Corporation serves Contractor with written notice lifting the suspension. Should work be terminated by the Corporation, Contractor reserves the right to receive payment for materials and parts acquired for the necessary completion of the scope of work for any part that is terminated after the issuing of a purchase order.