1994-04-25 Regular Meeting - Laserfiche WebLink

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• ARTICLE IV (Continued) B. Termination By Client For Cause • -_ The Client may terminate the Supper's performance of services under this Contract in the event of default by the Supplier and a failure by the Supplier to cure such default after receiving notice _ thereof, as provided in this subsection. Default by the Supplier shall occur if the Supplier fails to observe or perform any of its duties under this Contract. Should such a default occur, the Client may deliver a written notice to the Supplier describing such default and the proposed date of termination. Such date may not be sooner than the thirtieth (30th) day following receipt of the notice. The Client at its sole option, may extend the proposed date of termination to a later date. _ If the Supplier cures such default prior to the proposed date of termination, tren the proposed termination shall be ineffective. If the Supplier fails to cure such default prior to the proposed date of termination, then the Client may terminate the Supplier's performance under this Contract as V of such date. __ 1. The following are hereby defined as events of default whether occurring independently or _~ severally: a. Failure of the Supplier to perform or observe any of the other obligations, covenants, agreements, and conditions required to be performed or observed under this Contract; or "" b. The dissolution or liquidation of the Supplier, the filing of a voluntary petition or bankruptcy by the Supplier, the adjudication of the Supplier as a B ankrupt; an assignment for the benefit of creditors by the Supplier, the entry into an agreement of composition with its creditors by -~ the Supplier, the approval by a court of competent jurisdiction of any petition or other pleading in any action seeking reorganization, arrangement, adjustment, or composition of or in respect of the Supplier underthe Federal Bankruptcy Ace or any similar State orFederal --, law; or the appointment of a receiver, trustee or other similar official for Supplier or its property, unless within sixty (60) days after such appointment the Supplier causes such appointment to be stayed or discharged. ~'~° 2. Upon the effective date of termination as contained in the notice, the Supplier shall, unless the notice directs otherwise, immediately discontinue all service in connection with this Contract and shall proceed to cancel promptly all existing orders and subcontracts insofaz as such orders or subcontracts are chargeable to this Contract. As soon as practicable after the effective date of the notice of termination, the Supplier shall submit an invoice showing in detail the services performed under this Contract to the date of termination. The Client shall then pay the Supplier for that portion of the prescribed fees for which services were actually performed under this Contract and prior to termination notice. Page 3 of 9