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7.3.1 Termination for Default. Either party may <br />terminate this Agreement upon a default of the <br />other party. A party is in default if the party <br />fails to comply substantially with any material <br />term, condition or provision of this Agreement. <br />In the event of default, the non-defaulting party <br />shall notify the defaulting party in accordance <br />with Section 7.11 hereof of the specific act or <br />omission that constitutes the default, with <br />sufficient detail to provide the defaulting party <br />a reasonable opportunity to cure such default. <br />The defaulting party shall have twenty (20) <br />business days from the date of receipt of such <br />notification to cure such default. In the event <br />of default, and during the above-specified cure <br />period, performance under this Agreement shall <br />continue as though the default had never <br />occurred. In the event the default is not cured <br />within the above specified cure period, then the <br />non-defaulting party may, at its sole option, <br />terminate this Agreement for default. Such <br />termination shall be accomplished by written <br />notice of termination delivered in accordance <br />with Section 7.11 hereof and shall be effective <br />at the close of business on the date such notice <br />is received or the close of business on the <br />termination date specified in such notice, <br />whichever occurs later. <br />7.3.2 Termination for Coavenience. The City <br />may terminate this Agreement in whole or in part <br />whenever for any reason the City shall determine <br />that such termination is in the best interest of <br />the City. In the event that the City elects to <br />terminate the Agreement pursuant to this <br />provision, it shall so notify the Contractor in <br />accordance with Section 7.11 hereof and the <br />termination shall be effective as of the close of <br />business on the date such notice is received or <br />the close of business on the termination date <br />specified in such notice, whichever occurs later. <br />7.3.3 Termination for Bankruptcy or Insolvency. In the <br />event that the Contractor shall cease conducting <br />business in the normal course due to insolvency, <br />become insolvent, make a general assignment for <br />the benefit of creditors, suffer or permit the <br />appointment of a receiver for its business or its <br />Primary Agreement June 15, 2006 Page 19 <br />