Examples of Contractor Event of Default in a sentence
In the event that Contractor fails to cure a Contractor Event of Default as authorized herein, or upon the occurrence of a Contractor Event of Default as specified in Section 7.A.1.(iii), the County may terminate this Agreement in whole or in part, effective upon receipt by Contractor of written notice of termination pursuant to this provision, and may pursue such remedies at law or in equity as may be available to the County.
Upon the occurrence of a Contractor Event of Default as set out above, the County shall provide written notice of such Contractor Event of Default to Contractor (“Notice to Cure”), and Contractor shall have thirty (30) calendar days after the date of a Notice to Cure to correct, cure, and/or remedy the Contractor Event of Default described in the written notice.
In addition, prior to the expiration of the Defect Warranty Period, Owner, at its option and upon prior Notice to Contractor, may enforce the Defect Warranty against any Subcontractor if a Contractor Event of Default exists after the Substantial Completion Date and this Agreement has been terminated in accordance with Article 19.
Contractor shall cause the Permit to be reinstated within five (5) days of its suspension, revocation, or termination, or Contractor’s failure to do so will be considered a Contractor Event of Default under the Agreement.
The Parties acknowledge that because the Retainage shall constitute security, Owner may utilize the same to, among other things, cure any Contractor Event of Default, offset Delay Liquidated Damages, pay unpaid Contractor suppliers, remove Liens filed by Subcontractors and cover any expenses associated therewith, or offset against any other amounts payable by Contractor to Owner under this Agreement.