Assignment of Trade Contracts. CM/GC hereby conditionally assigns to Owner all of its interest in all Trade Contracts. Such conditional assignment shall become effective only upon the termination of this Contract, whereupon Owner may elect in writing to assume the rights and obligations of CM/GC under such Trade Contracts.
Appears in 4 contracts
Samples: Construction Management Agreement, Construction Management Agreement, Construction Management Agreement
Assignment of Trade Contracts. CM/GC hereby conditionally assigns to Owner all of its interest in all Trade Contracts. Such conditional assignment shall become effective only upon the termination of this Contract, whereupon Owner may elect in writing to assume the rights and obligations of CM/GC under such Trade Contracts. CM/GC shall ensure that all Trade Contracts contain a provision that assigns CM/GC's interest in the Trade Contract to Owner immediately upon Trade Contractor's receipt of Owner's Notice to such effect.
Appears in 1 contract
Samples: Construction Management Contract
