Termination for Cause A Sample Clauses
Termination for Cause A. DCAMM may without prejudice to any other right or remedy deem this Contract terminated for cause if any one of the following defaults shall occur and not be cured within three (3) days after the giving of written notice thereof by DCAMM to the CM and any surety that has given bonds in connection with this Contract:
(1) The CM has filed a petition, or a petition has been filed against the CM with its consent, under any federal or state law concerning bankruptcy, reorganization, insolvency or relief from creditors, or if such a petition is filed against the CM without its consent and is not dismissed within sixty (60) days; or if the CM is generally not paying its debts as they become due; or if the CM becomes insolvent; or if the CM consents to the appointment of a receiver, trustee, liquidate, custodian or the like of the CM or of all or any substantial portion of its assets and such appointment or possession is not terminated within sixty (60) days; or if the CM makes an assignment for the benefit of creditors;
(2) The CM refuses or fails, except in cases for which extension of time is provided under this Contract's express terms, to supply enough properly skilled workers or proper materials to perform its obligations under this Contract, or DCAMM has determined that the rate of progress required for the timely completion of the Work is not being met;
(3) The CM fails to make prompt payment to Subcontractors or for materials, equipment, or labor;
(4) All or a part of the Work has been abandoned;
(5) The CM has sublet or assigned all or any portion of the Work, the Contract, or claims thereunder, without the prior written consent of the Owner, except as expressly permitted in this Contract;
(6) The CM has failed to comply with Laws;
(7) The CM fails to maintain, or provide to DCAMM evidence of the insurance or bonds required by this Contract; or
(8) The CM has failed to perform the Work or any portion thereof as required by this Contract or has otherwise breached any material provision of this Contract.
Termination for Cause A. 23.1. The supplier may terminate the Contract for default or other just cause with a 30-day written request and upon written approval from the
Termination for Cause A. Either Party may immediately terminate this Agreement should the other Party breach any of its representations, warranties or obligations hereunder unless such breach is cured to the satisfaction of the non-breaching Party after ten (10) days written notice thereof.
Termination for Cause A. If HOMI shall fail to make timely payment to Bartech of any sum which it is obliged to pay to Bartech pursuant to the terms hereof, including the Standard Purchase Price, and fails to cure said breach within a period of 60 days from its receipt of a detailed written notice from Bartech warning of such breach, then Bartech will be entitled to terminate this Agreement by means of advance, written notice to HOMI, and this Agreement shall terminate upon the expiry of 6 months following the delivery of such notice, or at such later date of termination as may be stipulated in such notice. B. If either Party is in breach of this Agreement (a "DEFAULTING PARTY"), other than as set forth in Section 9.3a above, then the other Party (the "PERFORMING PARTY") shall deliver to the Defaulting Party written notice of said breach, whereupon the Parties will use their best efforts to amicably resolve the dispute between them and/or the breach, by means of discussions to be held between the Parties' respective CEOs, with or without mediation services from other Persons. If, notwithstanding the Parties' best, good faith efforts to resolve the situation as aforementioned, no such resolution is achieved within 6 months of delivery of the notice of breach, then the Performing Party may deliver a second written notice of breach to the Defaulting Party and, if the Defaulting Party fails to cure said breach within a period of 60 days from its receipt of said second written notice, then the Performing Party will be entitled to terminate this Agreement by means of advance, written notice to the Defaulting Party, and this Agreement shall terminate upon the expiry of 6 months following the delivery of such notice, or at such later date of termination as may be stipulated in such notice.
Termination for Cause A. If either Carrier (the "Defaulting Party") becomes insolvent or is subject to liquidation, composition with creditors, reorganization or bankruptcy; if the other Carrier (the "Insecure Party") has evidence that the Defaulting Party is not paying its bills when due without just cause; if the Defaulting Party takes any step leading to its cessation as a going concern; or if the Defaulting Party either ceases or suspends operations for reasons other than Force Majeure, then the Insecure Party may immediately terminate this Agreement on notice to the Defaulting Party unless the Defaulting Party immediately gives adequate assurance of the future performance of this Agreement by establishing an irrevocable letter of credit issued by an bank acceptable to the Insecure Party, on terms and conditions acceptable to the Insecure Party, in an amount sufficient to cover all amounts potentially due from the Defaulting Party under this Agreement, which may be drawn upon by the Insecure Party if the Defaulting Party does not fulfill its obligations under this Agreement in a timely manner.