ASSIGNMENT OF THE SUBCONTRACT. § 7.3.1 In the event of termination of the Prime Contract by the Owner, the Contractor may assign this Subcontract to the Owner, with the Owner’s agreement, subject to the provisions of the Prime Contract and to the prior rights of the surety, if any, obligated under bonds relating to the Prime Contract. In such event, the Owner shall assume the Contractor’s rights and obligations under the Subcontract Documents. § 7.3.2 Without the Contractor’s written consent, the Subcontractor shall not assign the Work of this Subcontract, subcontract the whole of this Subcontract, or subcontract portions of this Subcontract.
Appears in 4 contracts
Samples: Standard Form of Agreement Between Contractor and Subcontractor, Standard Form of Agreement Between Contractor and Subcontractor, Standard Form of Agreement Between Contractor and Subcontractor
ASSIGNMENT OF THE SUBCONTRACT. § 7.3.1 In the event of termination of the Prime Contract by the Owner, the Contractor may assign this the Subcontract under a Project Agreement to the Owner, with the Owner’s agreement, subject to the provisions of the Prime Contract and to the prior rights of the surety, if any, obligated under bonds relating to the Prime Contract. In such event, the Owner shall assume the Contractor’s rights and obligations under the Subcontract Documents.
§ 7.3.2 Without the Contractor’s written consent, the Subcontractor shall not assign the Work of this Subcontract, subcontract the whole of this Subcontract, or subcontract portions of this Subcontract.
Appears in 1 contract
Samples: Standard Form of Agreement Between Contractor and Subcontractor
