Owner’s Right to Terminate for Cause. Owner may terminate this Contract if: (i) a petition in bankruptcy is filed by or against DELTA-T and it is not dismissed within thirty (30) days, or (ii) DELTA-T commits a material breach of this Contract and fails to cure within the longer of 60 days of its receipt of written notice of such breach or such longer time as may be approved in writing by Owner. Upon such termination Owner shall (at its option) take possession of the Work and all Equipment for which it has paid, and upon Owner’s request, DELTA-T shall assign any then outstanding purchase orders for Equipment. DELTA-T shall cooperate in all respects with Owner in transiting the Work or Owner or a third party designated by Owner. In the event of termination under this Section 10.1, DELTA-T will be liable to Owner for any reasonable costs incurred by Owner to complete the Work to the extent that such costs exceed the unpaid balance of the Contract Sum set forth at Section 8 above.
Appears in 4 contracts
Samples: Engineering, Procurement and Technology License Agreement (Pacific Ethanol, Inc.), Engineering, Procurement and Technology License Agreement (Pacific Ethanol, Inc.), Engineering, Procurement and Technology License Agreement (Pacific Ethanol, Inc.)
