(4) In the event CKT shall file a petition in bankruptcy, reorganization or rehabilitation or be adjudged a bankrupt or shall make a general assignment for the benefit of its creditors, or if a petition in bankruptcy, reorganization or rehabilitation shall be filed against any of CKT or a receiver appointed on account of its insolvency, or if it shall default in the performance of any express obligation to be performed by it under this Agreement or shall fail to correct such default, or if it shall at any time, fail or refuse to prosecute the Work with promptness and diligence, NMT may, without prejudice to any other rights or remedies NMT may have, cause further payments to CKT to be held in abeyance and/or terminate this MOU and/or the work or any part of either or both by written notice to CKT specifying the date of termination.