Common use of CONTINGENT ASSIGNMENT OF SUBCONTRACTS Clause in Contracts

CONTINGENT ASSIGNMENT OF SUBCONTRACTS. § 4.7.1 Each subcontract agreement for a portion of the Work is assigned by the CM/GC to the Owner, provided that: .1 Assignment is effective only after termination of the Contract by the Owner for cause pursuant to Section 13.6 and only for those subcontract agreements that the Owner accepts by notifying the Subcontractor and CM/GC in writing; and .2 Assignment is subject to the prior rights of the surety, if any, obligated under bond relating to the Contract. § 4.7.2 Upon such assignment, if the Work has been suspended for more than thirty (30) days, the Subcontractor’s compensation shall be equitably adjusted for increases in cost resulting from the suspension. § 4.7.3 Upon such assignment to the Owner under this Section 4.7, the Owner may further assign the subcontract to a successor contractor or other entity. If the Owner assigns the subcontract to a successor contractor or other entity, the Owner shall nevertheless remain legally responsible for all of the successor contractor’s obligations under the subcontract.

CONTINGENT ASSIGNMENT OF SUBCONTRACTS. § 4.7.1 Each subcontract agreement for a portion of the Work is assigned by the CM/GC Contractor to the Owner, provided that: .1 Assignment (1) assignment is effective only after termination of the Contract by the Owner for cause pursuant to Section 13.6 Article XIV and only for those subcontract agreements that the Owner accepts by notifying the Subcontractor and CM/GC Contractor in writing; and .2 Assignment (2) assignment is subject to the prior rights of the surety, if any, obligated under bond relating to the Contract. § 4.7.2 Agreement. When the Owner accepts the assignment of a subcontract agreement, the Owner assumes the Contractor’s rights and obligations under the subcontract. Upon such assignment, if the Work has been suspended for more than thirty (30) days, the Subcontractor’s compensation shall be equitably adjusted for increases in cost resulting from the suspension. § 4.7.3 . Upon such assignment to the Owner under this Section 4.7Owner, the Owner may further assign the subcontract to a successor contractor or other entity. If the Owner assigns the subcontract to a successor contractor or other entity, the Owner shall nevertheless remain legally responsible for all of the successor contractor’s obligations under the subcontract.

CONTINGENT ASSIGNMENT OF SUBCONTRACTS. § 4.7.1 Each subcontract agreement for a portion of the Work is assigned by the CM/GC to the Owner, provided that: .1 Assignment is effective only after termination of the Contract by the Owner for cause pursuant to Section 13.6 and only for those subcontract agreements that the Owner accepts by notifying the Subcontractor and CM/GC in writing; and .2 Assignment is subject to the prior rights of the surety, if any, obligated under bond relating to the Contract. When the Owner accepts the assignment of a subcontract agreement, the Owner assumes the CM/GC’s rights and obligations under the subcontract. § 4.7.2 Upon such assignment, if the Work has been suspended for more than thirty (30) days, the Subcontractor’s compensation shall be equitably adjusted for increases in cost resulting from the suspension. § 4.7.3 Upon such assignment to the Owner under this Section 4.7, the Owner may further assign the subcontract to a successor contractor or other entity. If the Owner assigns the subcontract to a successor contractor or other entity, the Owner shall nevertheless remain legally responsible for all of the successor contractor’s obligations under the subcontract.

CONTINGENT ASSIGNMENT OF SUBCONTRACTS. § 4.7.1 Each subcontract agreement for a portion of the Work is assigned by the CM/GC to the Owner, provided that: .1 Assignment is effective only after termination of the Contract by the Owner for cause pursuant to Section Article 13.6 and only for those subcontract agreements that the Owner accepts by notifying the Subcontractor and CM/GC in writing; and .2 Assignment is subject to the prior rights of the surety, if any, obligated under bond relating to the Contract. § 4.7.2 Upon such assignment, if the Work has been suspended for more than thirty (30) days, the Subcontractor’s compensation shall be equitably adjusted for increases in cost resulting from the suspension. § 4.7.3 Upon such assignment to the Owner under this Section Article 4.7, the Owner may further assign the subcontract to a successor contractor or other entity. If the Owner assigns the subcontract to a successor contractor or other entity, the Owner shall nevertheless remain legally responsible for all of the successor contractor’s obligations under the subcontract.

CONTINGENT ASSIGNMENT OF SUBCONTRACTS. § 4.7.1 5.4.1 Each subcontract agreement for a portion of the Work is assigned by the CM/GC Contractor to the Owner, provided that: .1 Assignment assignment is effective only after termination of the Contract by the Owner for cause pursuant to Section 13.6 14.2 and only for those subcontract agreements that the Owner accepts by notifying the Subcontractor and CM/GC Contractor in writing; and .2 Assignment assignment is subject to the prior rights of the surety, if any, obligated under bond relating to the Contract. When the Owner accepts the assignment of a subcontract agreement, the Owner assumes the Contractor's rights and obligations under the subcontract. § 4.7.2 5.4.2 Upon such assignment, if the Work has been suspended for more than thirty (30) 30 days, the Subcontractor’s 's compensation shall be equitably adjusted for increases in cost resulting from the suspension. § 4.7.3 5.4.3 Upon such assignment to the Owner under this Section 4.75.4, the Owner may further assign the subcontract to a successor contractor or other entity. If the Owner assigns the subcontract to a successor contractor or other entity, the Owner shall nevertheless remain legally responsible for all of the successor contractor’s 's obligations under the subcontract.

CONTINGENT ASSIGNMENT OF SUBCONTRACTS. § 4.7.1 5.4.1 Each subcontract agreement for a portion of the Work is assigned by the CM/GC Contractor to the Owner, provided that: .1 Assignment 5.4.1.1 assignment is effective only after termination of the Contract by the Owner for cause pursuant to Section 13.6 14.2 and only for those subcontract agreements that the Owner accepts by notifying the Subcontractor and CM/GC Contractor in writing; and .2 Assignment 5.4.1.2 assignment is subject to the prior rights of the surety, if any, obligated under bond relating to the Contract. § 4.7.2 5.4.2 Upon such assignment, if the Work has been suspended for more than thirty (30) days, the Subcontractor’s compensation shall be equitably adjusted for increases in cost direct costs resulting from the suspensionsuspension and that are not due to any breach of contract or negligence of the Subcontractor or its employees. § 4.7.3 5.4.3 Upon such assignment to the Owner under this Section 4.75.4, the Owner may further assign the subcontract to a successor contractor or other entity. If . 5.4.4 Any assignment made under this section shall not relieve the Contractor of its duties and responsibilities under this Contract nor shall any assignment be deemed a waiver by the Owner assigns of any action or claims which it could assert against the subcontract to a successor contractor or other entity, the Owner shall nevertheless remain legally responsible for all of the successor contractor’s obligations under the subcontractContractor.