or assignment in favour of his creditors, or agrees to carry out the contract under a committee of inspection of his creditors, or (being a corporation), goes into liquidation (other than a voluntary liquidation for the purposes of amalgamation or reconstruction), or if the Contractor assigns the contract without the consent in writing of the Corporation first obtained, or has an execution levied on his goods, then the Corporation may, without prejudice to any other right or remedy it may have, by giving the Contractor or Receiver or Trustee in bankruptcy five (5) day written notice terminate this contract. 

• ii. If the Contractor:
  
  
  1. has abandoned the contract, or
  2. has without reasonable excuse has failed to commence the works, or has suspended the progress of the works for 14 days after receiving from the Engineer written notice to proceed, or
  3. has failed to proceed with due diligence, or
  4. has failed to remove materials from the site, or to pull down and replace work for 14 days after receiving from the Engineer written notice that the said materials or work have been condemned, and rejected by the Engineer under these conditions, or
  5. is not executing the works in accordance with the contract, or is persistently or flagrantly neglecting to carry out his obligations under the contract, or
  6. has to the detriment of good workmanship, or in defiance of the Engineer's instructions to the contrary, sub-let any part of the contract.
     
     then the Corporation may notify the Contractor in writing that he is in default of his contractual obligations and instruct him to correct the default within five (5) working days of receiving the notice.
     
     
• iii.
  
  
  1. The Contractor shall have the right within the given five (5) full working days following the receipt of a notice of default to correct the default and provide the owner with satisfactory proof that appropriate corrective measures have been taken.
     
     
  2. If the correction of the default cannot be completed within the five (5) full working days following receipt of the notice, the Contractor shall not be in default if the Contractor:
     
     
     1. commences the correction of the default within the five (5) full working days following receipt of the notice;
     2. provides the Corporation with an acceptable schedule for the progress of such correction; and
     3. completes the correction in accordance with such schedule.