Insolvency of the Contractor Sample Clauses

Insolvency of the Contractor. The Contractor shall be deemed to be insolvent if it has ceased to pay its debts for at least 60 days in the ordinary course of business or cannot pay its debts as they become due, whether or not a petition has been filed under the Federal Bankruptcy Code and whether or not the Contractor is insolvent within the meaning of the Federal Bankruptcy Code;
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Insolvency of the Contractor. The CONTRACTOR shall be deemed to be insolvent if it has ceased to pay its debts for at least 60 days in the ordinary course of business or cannot pay its debts as they become due, whether or not a petition has been filed under the Federal Bankruptcy Code and whether or not the CONTRACTOR is insolvent within the meaning of the Federal Bankruptcy Code;
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Insolvency of the Contractor. 25.1 The Contractor shall inform the Home Office:-
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Insolvency of the Contractor. It is recognized that if the Contractor becomes insolvent, or institutes or has instituted against it a case under Title 11 of the United States Code, or makes a general assignment for the benefit of its creditors, or if a receiver is appointed for the benefit of its creditors, or if a receiver is appointed on account of insolvency, such event or events could impair or frustrate the Contractor’s performance of this Agreement. Accordingly, it is agreed that upon the occurrence of any such event, the Agency will be entitled to request of the Contractor or its successor assurances of future performance that are adequate in the opinion of the Agency. Failure to satisfy such requirement within 10 days following delivery of the request will entitle the Agency to terminate this Agreement under the terms of Section 12.5 above. Pending receipt of adequate assurances of performance and actual performance in accordance therewith, the Agency will be entitled to complete the Construction Work with its own forces or with other contractors on a time-and-materials or other appropriate basis, and the Contractor shall pay to the Agency, on demand, the excess, if any, of the reasonable costs of completing the Construction Work over the Construction Price. MISCELLANEOUS
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Insolvency of the Contractor. If the Contractor -
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Insolvency of the Contractor. 27.1 The Contractor shall inform the Council:-
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Insolvency of the Contractor. Where the principal obligations under the Contract are illegal, void or voidable this Deed shall take effect as if the Guarantor was ab initio the principal obligor and not merely a surety.
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Related to Insolvency of the Contractor

  • Contractor Bankruptcy/Insolvency If the Contractor should be adjudged bankrupt or should have a general assignment for the benefit of its creditors or if a receiver should be appointed on account of the Contractor’s insolvency, the County may terminate this Contract.

  • Insolvency Proceedings Any corporate action, legal proceedings or other procedure or step is taken in relation to:

  • Insolvency or Bankruptcy The death, dissolution or insolvency of, appointment of a receiver by or on behalf of, application of any debtor relief law, the assignment for the benefit of creditors by or on behalf of, the voluntary or involuntary termination of existence by, or the commencement of any proceeding under any present or future federal or state insolvency, bankruptcy, reorganization, composition or debtor relief law by or against me or any co-signer, endorser, surety or guarantor of this Agreement or any other obligations I have with you.

  • SCOPE OF THE CONTRACT 4.1 The Contractor shall perform the Services set out [in Schedule 1] [below2] in accordance with the Contract.

  • Insolvency etc In the event of the firm being adjudged insolvent or having a receiver appointed for it by a court or any other order under the Insolvency Act made against them or in the case of a company the passing any resolution or making of any order for winding up, whether voluntary or otherwise, or in the event of the firm failing to comply with any of the conditions herein specified AIIMS, Jodhpur shall have the power to terminate the contract without any prior notice.

  • For the Contractor Name: Xxxxxxx XxXxxxxxxx Phone: 000-000-0000 Email: xxxxxxx.xxxxxxxxxx@xxxxxxx.xxx

  • Assignment of the Contract ‌ The Contractor shall not sell, transfer, assign, or otherwise dispose of the Contract or any portion thereof or of any right, title, or interest therein without prior written consent of the Division. Any such purported assignment or transfer shall be void. If approved, any assignee shall be subject to all terms and conditions of this Contract and other supplemental contractual documents. No approval by the Division of any assignment may be deemed to obligate the Division beyond the provisions of this Contract. This provision includes reassignment of the Contract due to change in ownership of the Contractor. The Division shall at all times be entitled to assign or transfer its rights, duties, and/or obligations under this Contract to another governmental agency in the State of Mississippi upon giving prior written notice to the Contractor.

  • INDEPENDENT CAPACITY OF THE CONTRACTOR The parties intend that an independent contractor relationship will be created by this contract. The CONTRACTOR and his or her employees or agents performing under this contract are not employees or agents of the AGENCY. The CONTRACTOR will not hold himself/herself out as or claim to be an officer or employee of the AGENCY or of the State of Washington by reason hereof, nor will the CONTRACTOR make any claim of right, privilege or benefit that would accrue to such employee under law. Conduct and control of the work will be solely with the CONTRACTOR.

  • of the Contract (7) No action can be instituted on this bond after one year from the date of Final Completion as determined pursuant to Article 6.2.2. SIGNED AND SEALED THIS DAY OF , 20 . ATTEST: (NAME OF Contractor) By Secretary(*) President (SURETY) (*)(*) (TITLE) (*) Please apply seal of Corporation over Secretary’s Signature. (*)(*)Please apply seal of Surety and arrange for countersignature by a “Georgia Licensed Agent” of Surety pursuant to O.C.G.A. §33-23-5. Kindly show title of the aforesaid agent as “Georgia Licensed Agent.” (*) Attach Power of Attorney GEORGIA SECURITY AND IMMIGRATION COMPLIANCE ACT AFFIDAVIT(S)

  • Responsibility of the Contractor The Contractor shall be responsible for the quality, technical accuracy, and the coordination of all deliverables and other services furnished by the Contractor under this Contract. The Contractor shall, without additional compensation, correct, or revise any errors or deficiencies in the Work which are discovered within a twelve-month period of final completion of Work.

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