Common use of Condition Precedent for Payment Clause in Contracts

Condition Precedent for Payment. It is understood and agreed that all payments by Contractor to A/E for the Scope of Work or Services, or for Additional Services or Reimbursable Expenses, shall become due and payable by Contractor to A/E within ten (10) days of Contractor’s actual receipt of payment from Owner. Contractor’s actual receipt of payment from Owner for the Services and Scope of Work and any alleged Additional Services shall be an absolute, express condition precedent to Contractor’s obligation to pay A/E. A/E assumes the risk of non-payment by Owner for any reason, including the creditworthiness of such persons or entities.