Assignment/Subcontracts. Subcontractor shall not assign or transfer this Agreement or any part thereof, or any monies due or to become due hereunder, without the prior written consent of Contractor. Any assignment or transfer without Contractor's prior written consent shall be void and of no effect and shall vest no right in the assignee or transferee against Contractor. If Subcontractor is given written consent, that consent shall not be valid unless Subcontractor shall bind its assignee or transferee to all of the terms and conditions of this Agreement. The making of any assignment by Subcontractor or any consent thereto by Contractor shall not release Subcontractor, or its sureties, of any of their respective obligations, duties, responsibilities or liabilities. Contractor’s consent to any subcontracting by Subcontractor with a second tier subcontractor shall not create any contractual relationship between Contractor and any second tier subcontractor to whom the work or any portion thereof is subcontracted. Subcontractor’s suppliers, materialmen, sureties, subcontractors and vendors are not third party beneficiaries of this Agreement. If Subcontractor subcontracts any of the work to be performed under this Agreement, Subcontractor shall enter into a written subcontract with each of its subcontractors which incorporates all of the terms and conditions of this Agreement. Subcontractor agrees that Contractor may assign this Agreement to Owner, Contractor’s surety, or Owner’s replacement contractor.
Appears in 9 contracts
Samples: Subcontract Agreement, Subcontract Agreement, Subcontract Agreement
