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.
Appears in 4 contracts
Samples: One Time Agreement, One Time Agreement, One Time Agreement
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.
Appears in 1 contract
Samples: www.bnbuilders.com
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 a bcontract 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.
Appears in 1 contract
Samples: www.bnbuilders.com
ASSIGNMENT OF THE SUBCONTRACT. § 7.3.1 7.4.1 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 '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 's rights and obligations under the Subcontract Documents. If the Work of the Prime Contract has been suspended for more than 30 days, the Subcontractor's compensation shall be equitably adjusted.
Appears in 1 contract
Samples: Master Subcontract Agreement
