Assignment of Subcontracts. In the event that Owner terminates the Contract with the CM/GC, each subcontract and supply contract for any portion of the Work is hereby irrevocably assigned by the CM/GC to Owner, effective from the date of termination. This assignment is effective only for those subcontracts and supply contracts that Owner accepts by notifying the Subcontractor/supplier and the CM/GC in writing. For those subcontracts and supply contracts accepted by Owner, if the Work has been suspended for more than 30 days, the Subcontractor's/supplier’s compensation may be equitably adjusted for increases in cost resulting from the suspension. Such adjustments shall be subtracted from the amounts owed by Owner to the CM/GC. The CM/GC shall include a provision in each subcontract and supply agreement wherebythe Subcontractor/supplier acknowledges Owner’s rightsunder this Article
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Sources: Cm/Gc Contract, Construction Manager/General Contractor Contract
Assignment of Subcontracts. In the event that Owner terminates the Contract with the CM/GC, each subcontract and supply contract for any portion of the Work is hereby irrevocably assigned by the CM/GC to Owner, effective from the date of termination. This assignment is effective only for those subcontracts and supply contracts that Owner accepts by notifying the Subcontractor/supplier and the CM/GC in writing. For those subcontracts and supply contracts accepted by Owner, if the Work has been suspended for more than 30 days, the Subcontractor's/supplier’s compensation may shall be equitably adjusted for increases in cost resulting from the suspension. Such adjustments shall be subtracted from the amounts owed by Owner to the CM/GC. The CM/GC shall include a provision in each subcontract and supply agreement wherebythe whereby the Subcontractor/supplier acknowledges Owner’s rightsunder rights under this Article
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