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<br />203193300.19 -38- <br /> <br />18.1.3 A breach by Operator of Section 22 [Assignment]; <br />18.1.4 A breach by Operation of Section 17 [Insurance] and the failure to remedy such breach <br />within 5 business days after receipt by Operator from the Executive Director of written <br />notice of such breach; <br />18.1.5 (a) Operator’s chronic Program-wide failures to abide by its obligations under Sections <br />2, 3, 4 and 6 of this Agreement and Section 22 of the Coordination Agreement, which <br />failures materially and adversely affect the non-pecuniary benefits to be derived by <br />MTC and the Participating Cities under this Agreement, (b) the failure of Operator to <br />submit to MTC and the Participating Cities, within 15 business days following receipt <br />by Operator from the Executive Director of written notice of such failures, a credible <br />business plan for Operator to proactively and comprehensively address Operator’s <br />deficiencies, which plan shall be subject to approval by MTC in consultation with the <br />relevant Participating Cities, and (c) the failure of Operator to take concrete steps to <br />implement such response plan within 30 days of MTC’s approval of such plan; <br />18.1.6 If the Security Fund balance falls below $50,000 and Operator does not replenish the <br />full amount of the Security Fund within 10 days following notice thereof from the <br />Executive Director. However, if Operator is then contesting one or more prior <br />withdrawals from the Security Fund in accordance with the Dispute Resolution Process <br />and the aggregate amount in dispute exceeds $200,000, then such $50,000 may only be <br />used pursuant to Section 15.3.2 or Section 15.3.3 until such dispute has been finally <br />resolved; <br />18.1.7 The commencement of any proceeding by Operator under the Bankruptcy Code or <br />relating to the insolvency, receivership, liquidation, or composition of Operator for the <br />benefit of creditors; <br />18.1.8 The commencement of any involuntary proceeding against Operator under the <br />Bankruptcy Code that has not been stayed or dismissed within 120 days of its <br />commencement; <br />18.1.9 If Operator or any of its officers, directors or senior management has been convicted <br />after the Effective Date under any state or federal law of any of the matters listed in <br />clauses (a) through (e) of this Section 18.1.9: (x) in connection with a matter that is not <br />directly or indirectly connected with this Agreement or the Program and, in the case of <br />the conviction of an individual, such individual has not been terminated by Operator <br />within 30 days after Operator receives notice of such conviction, or (y) in connection <br />with a matter that is directly or indirectly connected with this Agreement or the <br />Program. The matters referred to above as being listed in clauses (a) through (e) are <br />the following: <br />(a) A criminal offense that is incident to obtaining or attempting to obtain or to <br />performing a public or private contract; <br />(b) Fraud, embezzlement, theft, bribery, forgery, falsification, destruction of <br />records, or receiving stolen property;