Common use of Contractor and Subcontractors Clause in Contracts

Contractor and Subcontractors. B▇▇▇▇▇▇▇ agrees that the general Contractor for the Project must be acceptable to the Lender and that the Borrower shall not amend, replace or terminate the Construction Contract or allow the Construction Contract to be terminated. Lender hereby approves Harvest Construction Company, L.L.C. as the general Contractor for the Project, and will upon request of Borrower approve other construction companies acceptable to Lender, all at Lender’s commercially reasonable discretion. B▇▇▇▇▇▇▇ agrees that it will not engage or permit the general Contractor to engage or continue to employ any Contractor, subcontractor or materialman who may be reasonably objectionable to Lender. If requested by L▇▇▇▇▇, Borrower shall deliver to Lender a fully executed copy of each of the agreements between Borrower and each Contractor and between the general Contractor and its subcontractors, each of which shall be in form and substance satisfactory to Lender in its reasonable discretion. L▇▇▇▇▇’s approval of a construction contract or subcontract is specifically conditioned upon the following: (i) the total contract price thereof does not exceed the fair and reasonable cost of the work to be performed thereunder, and (ii) the Contractor or subcontractor is of recognized standing in the trade, has a reputation for complying with contractual obligations, and is otherwise acceptable to Lender in its reasonable discretion.