Notification of Bankruptcy or Insolvency. a. In the event the Contractor or a major subcontractor enters into proceedings relating to bankruptcy, whether voluntary or involuntary, or becomes insolvent, the Contractor agrees to furnish, by certified mail or electronic commerce method authorized by the Contract, written notification of the bankruptcy or insolvency to the Contracting Officer. This notification shall be furnished within five days of the initiation of the proceedings relating to bankruptcy filing or upon discovery of the insolvency. This notification shall include the date on which the bankruptcy petition was filed, the identity of the court in which the bankruptcy petition was filed, the name and contact information for the Bankruptcy Trustee, a listing of Authority contract numbers and Authority contracting offices for all Authority contracts against which the Contractor asserts final payment has not been made. This obligation remains in effect until final payment under this Contract.
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