Receivership or Assignment for the Benefit of Creditors. 8.4.2.1 If the A/E makes a general assignment for the benefit of creditors or if a receiver is appointed for all or a substantial part of the A/E’s business or property, the Contracting Authority shall serve written notice on the A/E stating that any failure of the A/E to provide adequate assurance of continued performance shall be considered a rejection of the Agreement, which shall result in termination of the Agreement for cause. Such termination of the Agreement need not be evidenced by an order of any court.
Receivership or Assignment for the Benefit of Creditors. 8.4.2.1 If the CM makes a general assignment for the benefit of creditors or if a receiver is appointed for all or a substantial part of the CM’s business or property, the Contracting Authority shall serve written notice on the CM and the CM’s Surety (if any) stating that any failure of the CM to provide adequate assurance of continued performance shall be considered a rejection of the Agreement, which shall result in termination of the Agreement for cause. Such termination of the Agreement need not be evidenced by an order of any court.
Receivership or Assignment for the Benefit of Creditors. 11.4.2.1 If the Contractor makes a general assignment for the benefit of creditors or if a receiver is appointed for all or a substantial part of the Contractor’s business or property, the Contracting Authority shall serve written notice on the Contractor and the Contractor’s Surety stating that any failure of the Contractor to provide adequate assurance of continued performance shall be considered a rejection of the Contract, which shall result in termination of the Contract for cause. Such termination of the Contract need not be evidenced by an order of any court.
