Common use of Construction Subcontracts Clause in Contracts

Construction Subcontracts. (a) To permit no default under the terms of the Major Subcontracts; (b) To waive none of Subcontractors' obligations thereunder; and (c) To do no act which would relieve Subcontractors of their respective obligations to construct the Improvements according to the Plans and Specifications.

Appears in 1 contract

Sources: Construction Loan Agreement (Newmark Homes Corp)

Construction Subcontracts. (a) a. To permit no default under the terms of the Major Subcontracts; (b) b. To waive none of Subcontractors' obligations thereunder; and; (c) c. To do no act which would relieve Subcontractors of their respective obligations to construct the Improvements according to the Plans and Specifications; and d. To make no amendments, other than change orders as Lender may approve in writing to any of the Major Subcontracts or other subcontracts, without Lender's prior written consent.

Appears in 1 contract

Sources: Construction Loan Agreement (Vacation Break Usa Inc)