Termination for Owner Default a. The Private Entity’s sole remedies for any failure or delay in payment by the Owner shall be the remedies provided in Article 4 of the Virginia Public Procurement Act, Virginia Code sections 2.2-4347, et seq. The Private Entity may neither terminate this Agreement nor stop the Work due to a failure or delay in payment, and any attempt to terminate this Agreement or stop the Work shall constitute a default on the part of the Private Entity.
Termination for Owner Default a. The Contractor may terminate the Agreement for default if, through no act or fault of the Contractor or a Subcontractor, Sub-subcontractor or their agents or employees or any other persons or entities performing portions of the Work under direct or indirect contract with the Contractor, the Owner has not issued a certificate for payment and has not notified the Contractor of a valid reason for withholding the certificate for payment within thirty (30) calendar days of receipt of a valid invoice, or because the Owner has not made payment within thirty (30) calendar days after the time stated in the Agreement for payment.
Termination for Owner Default. If Owner shall materially fail to perform its obligations hereunder, the following cure periods shall apply: (1) In the event of a monetary breach or a breach that can reasonably be cured within a fifteen (15) day period, Owner shall be in default under this Agreement if such failure continues for fifteen (15) days after written notice thereof from Manager to Owner of such failure; or (2) if the nature of such breach is such that the same cannot reasonably be cured within a fifteen (15) day period, Owner shall not be deemed to be in default if it diligently commences such cure within such period and thereafter diligently proceeds to rectify and cure said default as soon as reasonably practicable. If such failure continues beyond such applicable cure periods, then Manager may terminate this Agreement by giving thirty (30) days written notice to Owner and Owner agrees to pay Manager the Management Fees due to Manager pursuant to Section 4.1 with respect to the Projects the Manager is managing as of the date of termination, where such ongoing Management Fees shall, for each Project, be based on the Gross Revenues for each Project based on the end of the month of the date of termination.
Termination for Owner Default a. The DB’s sole remedies for any failure or delay in payment by the Owner shall be the remedies provided in Article 4 of the Virginia Public Procurement Act, Virginia Code §§ 2.2-4347, et seq.
Termination for Owner Default a. The Operator may terminate the contract for default if, through no act or fault of the Operator or a Subcontractor, Sub-subcontractor or their agents or employees or any other persons or entities performing portions of the work under direct or indirect contract with the Operator, the Owner has not issued a certificate for payment and has not notified the Operator of the reason for withholding the certificate for payment within thirty (30) calendar days of receipt of a valid invoice, or because the Owner has not made payment within thirty (30) calendar days after the time stated in the Agreement for payment. The Operator shall notify Owner of said default, and Owner does not cure the default within ten (10) days.
Termination for Owner Default
