Adjustment of General Contractor's Application for Payment Sample Clauses

Adjustment of General Contractor's Application for Payment. Owner may adjust or reject an Application for Payment or nullify a previously approved Application for Payment, in whole or in part, as may reasonably be necessary to protect Owner from loss or damage based upon the following, to the extent that Contractor is responsible under the Agreement: 19.2.3.3.1 Contractor's repeated failure to perform the Work as required by the Contract Documents; 19.2.3.3.2 Loss or damage arising out of or relating to this Agreement and caused by Contractor to Owner or others to whom Owner may be liable; 19.2.3.3.3 Contractor's failure to properly pay subcontractors and material suppliers following receipt of such payment from Owner; 19.2.3.3.4 Third-party claims involving Contractor or reasonable evidence demonstrating that third- party claims are likely to be filed unless and until Contractor furnishes Owner with adequate security in the form of a surety bond, irrevocable letter of credit or other collateral or commitment satisfactory to Owner and sufficient to discharge such claims if established.