Owner Default Sample Clauses

Owner Default. 31.5.1 The following shall constitute a default by Owner: (a) Subject to the provisions of this Agreement excusing such action, Owner shall fail to pay when due any undisputed amount under this Agreement and such failure shall continue uncorrected for a period for [***] Days after Notice thereof from Contractor; (b) Owner commences any case, proceeding or other action seeking reorganization, arrangement, adjustment, liquidation, dissolution or composition of itself or its debts or assets, or adopts an arrangement with or makes an assignment for the benefit of creditors, under any bankruptcy, moratorium, rearrangement, insolvency, reorganization or similar law for the relief of creditors or affecting the rights or remedies of creditors in general or is declared insolvent or Owner conceals or removes any part of its property with the intent to hinder, delay or defraud its creditors, or makes or suffers any transfer of its property which may be fraudulent under applicable Law, or admits in writing its inability to pay its debts; and (c) There has been instituted against Owner any case, proceeding or action seeking reorganization, arrangement, adjustment, liquidation, dissolution or composition of Owner or its debts or assets, which shall not have been terminated, stayed or dismissed within [***] Days after commencement, or a trustee, receiver, custodian or other like official is appointed for or to take possession of all or any part of the property or assets of Owner, or Owner generally does not pay its debts as they become due; provided, however, that Owner shall have [***] Days to cure this default following Notice thereof from Contractor. 31.5.2 Contractor shall have the right to terminate this Agreement upon the occurrence of a default by Owner by delivery of a Notice of termination to Owner. Upon such termination, Contractor will be compensated (i) the Reimbursable Costs, Contractor’s G&A and Contractor’s Margin for all Work performed through the date of termination, and (ii) the reasonable costs to demobilize and any unavoidable cancellation charges from Subcontractors. Any such termination shall not relieve Contractor of its obligations to perform Corrective Work during any applicable Warranty Period.

Owner Default. Any of the following is a default by the owner under the HAP contract: 1. The owner has failed to comply with any obligation under the HAP contract, including the owner’s obligations to maintain all contract units in accordance with the housing quality standards. 2. The owner has violated any obligation under any other housing assistance payments contract under Section 8 of the United States Housing Act of 1937 (42 U.S.C. 1437f). 3. The owner has committed any fraud or made any false statement to the PHA or HUD in connection with the HAP contract. 4. The owner has committed fraud, bribery or any other corrupt or criminal act in connection with any Federal housing assistance program. 5. If the property where the contract units are located is subject to a lien or security interest securing a HUD loan or a mortgage insured by HUD and: A. The owner has failed to comply with the regulations for the applicable mortgage insurance or loan program, with the mortgage or mortgage note, or with the regulatory agreement; or B. The owner has committed fraud, bribery or any other corrupt or criminal act in connection with the HUD loan or HUD-insured mortgage. 6. The owner has engaged in any drug-related criminal activity or any violent criminal activity.

Owner Default. This Agreement may be terminated by Manager, at its option, upon the happening of any of the following events: (a) failure of Owner to pay or reimburse Manager as stipulated in this Agreement, said termination to become effective within five (5) days after Manager having served Owner notice of the failure and Owner’s continued failure to remedy; (b) material breach, default or noncompliance by Owner with any other covenants contained in this Agreement; (c) the making by Owner of a general assignment for the benefit of creditors; or a petition of application by either party to any tribunal for the appointment of a trustee, custodian, receiver or liquidator of all or substantially all of its business, estate or assets; or the commencement by Owner of any proceeding under any bankruptcy, reorganization, arrangement, insolvency, readjustment or debt, dissolution or liquidation law of any jurisdiction, whether now or hereafter in effect.

Owner Default. Failure of the Owner, which has neither been remedied nor waived, to pay the Contractor as required by the Construction Contract or to perform and complete or comply with the other terms thereof. Any singular reference to Contractor, Surety, Owner or other party shall be considered plural where applicable. CONTRACTOR (Name and Address): SURETY (Name and Principal Place Of Business): Owner (Name and Address): CONSTRUCTION CONTRACT Date: Amount: $50,000.00 Description (Name and Location): BOND Date: Amount: $50,000.00 Modifications to this Bond Form: CONTRACTOR AS PRINCIPAL SURETY Company: (Corp. Seal) Company: (Corp. Seal) Signature: Signature: Name and Title: Name and Title: 1. The Contractor and the Surety, jointly and severally, bind themselves their heirs, executors, administrators, successors and assigns to the Owner to pay for labor, materials and equipment furnished for use in the performance of the Construction Contract, which is incorporated herein by reference. 2. With respect to the Owner, this obligation shall be null and void if the Contractor: 2.1 Promptly makes payment, directly or indirectly, for all sums due Claimants, and 2.2 Defends, indemnifies and holds harmless the Owner from all claims, demands, liens or suits by any person or entity who furnished labor, materials or equipment for use in the performance of the Construction Contract, provided the Owner has promptly notified the Contractor and the Surety (at the address described in Paragraph 12) of any claims, demands, liens or suits and tendered defense of such claims, demands, liens or suits to the Contractor and the Surety, and provided there is no Owner Default. 3. With respect to Claimants, this obligation shall be null and void if the Contractor promptly makes payment, directly or indirectly, for all sums due. 4. The Surety shall have no obligation to Claimants under this Bond until: 4.1 Claimants who do not have a direct contract with the Contractor have given notice to the Surety (at the address described in Paragraph 12) and sent a copy, or notice thereof to the Owner, stating that a claim is being made under this Bond and with substantial accuracy the amount of the claim. 4.2 Claimants who do not have a direct contract with the Contractor: 1. Have furnished written notice to the Contractor and sent a copy, or notice thereof, to the Owner, within 90 days after having last performed labor or last furnished materials or equipment included in the claim stating, with substantial a...

Owner Default. (a) Distribution Company shall have the right to terminate this Agreement in accordance with Section 14.4(a). (b) Upon the exercise by Distribution Company of its termination rights pursuant to clause (a) above, Distribution Company shall have the right to recover from Owner, and Owner shall pay to Distribution Company, the Owner Termination Payment in accordance with Section 14.4(a). (c) The exercise by Distribution Company of its termination rights pursuant to clause (a) above shall constitute a waiver by Distribution Company of all other remedies or damages that may be available at law or in equity against Owner; provided, however, that Distribution Company shall not waive any right to, and Owner shall remain liable for, the Owner Termination Payment, any amounts owed by Owner to Distribution Company under Section 3.4, any accrued but unpaid amounts under Section 4.4.1 or any express modification of Distribution Company’s payment obligations that have accrued under this Agreement before or as of such termination, and any indemnification obligations of Owner to Distribution Company under this Agreement, together with any costs or expenses (including reasonable attorneys’ fees) reasonably incurred by Distribution Company to recover such damages or such indemnified or other amounts owed to Distribution Company by Owner.

Owner Default. Failure of the Owner, which has neither been remedied nor waived, to pay the Contractor as required by the Construction Contract or to perform and complete or comply with the other terms thereof. § 77-1323 Every person, partnership, limited liability company, association, or corporation furnishing labor or material in the repair, alteration, improvement, erection, or construction of any public improvement shall furnish a certified statement to be attached to the contract that all equipment to be used on the project, except that acquired since the assessment date, has been assessed for taxation for the current year, giving the county where assessed. Pursuant to Neb. Rev. Stat. § 77-1323, I, , do hereby certify that all equipment to be used on Bid No. 19-022 except that equipment acquired since the assessment date, has been assessed for taxation for the current year, in County, Nebraska. DATED this day of , 2023. By: Title: STATE OF NEBRASKA ) COUNTY OF ) On , 2023, before me, the undersigned Notary Public duly commissioned for and qualified in said County, personally came , to me known to be the identical person, whose name is affixed to the foregoing instrument and acknowledged the execution thereof to be his voluntary act and deed. Witness my hand and notarial seal the day and year last above written. For the purposes of complying with THE NEBRASKA EMPLOYEE CLASSIFICATION ACT, Nebraska Revised Statutes 48-2901 to 48-2912 and City of Lincoln Executive Order 083319, I, , herein below known as the Contractor, state under oath and swear as follows: 1. Each individual performing services for the Contractor is properly classified under the Employee Classification Act. 2. The Contractor has completed a federal I-9 immigration form and has such form on file for each employee performing services. 3. The Contractor has complied with Neb Rev Stat 4-114. 4. The Contractor has no reasonable basis to believe that any individual performing services for the Contractor is an undocumented worker. 5. The Contractor is not barred from contracting with the state or any political subdivision pursuant to NRS 48-2912 of this Act. 6. As the Contractor I understand that pursuant to the Employee Classification Act a violation of the Act by a contractor is grounds for rescission of the contract by the City of Lincoln, Lancaster County, and ▇▇▇▇▇▇▇-▇▇▇▇▇▇▇▇▇ County Public Building Commission. I understand that pursuant to the Act any contractor who knowingly provides a false affidavi...

Owner Default. Failure of the Owner, which has neither been remedied nor waived, to pay the Contractor as required by the Construction Contract or to perform and complete or comply with the other terms thereof. § 77-1323 Every person, partnership, limited liability company, association, or corporation furnishing labor or material in the repair, alteration, improvement, erection, or construction of any public improvement shall furnish a certified statement to be attached to the contract that all equipment to be used on the project, except that acquired since the assessment date, has been assessed for taxation for the current year, giving the county where assessed. Pursuant to Neb. Rev. Stat. § 77-1323, I, , do hereby certify that all equipment to be used on Bid No. 22-263, except that equipment acquired since the assessment date, has been assessed for taxation for the current year, in County, Nebraska. DATED this day of , 2024. By: Title: STATE OF NEBRASKA ) COUNTY OF ) On , 2024, before me, the undersigned Notary Public duly commissioned for and qualified in said County, personally came , to me known to be the identical person, whose name is affixed to the foregoing instrument and acknowledged the execution thereof to be his voluntary act and deed. Witness my hand and notarial seal the day and year last above written. Attachment 1

Owner Default. Failure of the OWNER, which has neither been remedied nor waived, to pay the CONTRACTOR as required by the Contract or to perform and complete or comply with the other terms thereof.

Owner Default. No building permit shall be issued or building permit application accepted for any structure on the Property after Owner is determined by the City to be in default of the terms and conditions of this Agreement until such default thereafter is cured by the Owner or is waived by the City. If the City terminates this Agreement because of Owner's default, then the City shall retain any and all benefits, including money or land received by the City hereunder.