DEFAULT BY PDBT Sample Clauses

DEFAULT BY PDBT. 7.25.1 If, in the opinion of the Engineer, there is a reasonable doubt as to the PDBT’s ability to complete performance under the Contract Documents or the PDBT is not complying in good faith with the terms of the Contract Documents, or in the event of a breach of a material requirement of the Contract Documents, the PDBT shall be in default of the Contract. 7.25.2 Upon default, the City Attorney shall give written notice to the PDBT and the Surety of the Faithful Performance Bond to cure the default within five (5) working days of the notice or, if more than five (5) working days are reasonably required to cure the default, the notice shall require adequate assurance of due performance within five (5) working days. At a minimum, adequate assurance shall consist of the PDBT’s actual performance in accordance with the Contract Documents, and written documentation of the PDBT’s demands for performance to subcontractors and suppliers, and the subcontractor’s and supplier’s written acknowledgement thereof. 7.25.3 If the PDBT complies with the notice, the Contract Documents shall remain in full force and effect. 7.25.4 If the Surety gives the CITY written notice that the Surety will assume control and perform the work as successor to the PDBT, the Surety shall be responsible for completion of all the PDBT’s obligations under the Contract, and the Surety shall be entitled to all compensation owed to the PDBT under the Contract. 7.25.5 If the PDBT or its Surety does not comply with the notice within five (5) working days, or after starting to comply, fails to continue to diligently perform, the CITY may exclude both the PDBT and its Surety from the premises and take 7.25.6 CITY may also terminate this Agreement upon written notice to PDBT in the event that: (a) PDBT shall voluntarily file or have involuntarily filed against it any protection under bankruptcy or insolvency act or law; or, (b) PDBT shall be adjudicated a bankruptcy; or, (c) PDBT shall make a general assignment for the benefit of creditors. 7.25.7 In the event of an exclusion of the PDBT and the Surety from the premises, the PDBT shall not be entitled to receive any further payment until the Work is completed. The PDBT shall be paid the actual amount due in accordance with the Contract Documents for the amount of work performed at the time of exclusion, less damages caused to the CITY by the PDBT’s default. 7.25.8 The cost to the CITY of completing the Work, including any administrative costs and at...