Common use of Owner’s Right to Terminate Clause in Contracts

Owner’s Right to Terminate. If CM/GC makes a general assignment for the benefit of its creditors, or if a receiver is appointed on account of its insolvency, or if it persistently or repeatedly refuses or fails, except in cases for which extensions of time are provided, to supply enough properly skilled workmen or proper materials, or if it fails to make proper payment to Trade Contractors for materials or labor, or persistently disregards laws, ordinances, rules, regulations or orders of any public authority having jurisdiction over the Project, or if it fails to diligently prosecute the work in accordance with the User’s Program, the Construction Documents, or the Contract Documents, or if it otherwise is guilty of a substantial violation of any provision of this Contract, then the Owner may, without prejudice to any right or remedy and after giving the CM/GC and its surety, if any, ten (10) days' written notice of the Owner’s Intent to Declare Default, during which period the CM/GC fails to cure or fails to commence and thereafter diligently prosecute Work necessary to cure the violation, declare the CM/GC to be in Default and to terminate the employment of the CM/GC.