BASIS AND SCOPE OF PAYMENT. Payment, except as elsewhere herein specified, will be made to the Subcontractor for Work actually performed and completed, as measured and certified by the Owner’s Representative or by the Contractor, which shall be accepted by the Subcontractor as full compensation for furnishing all material and for doing all Work contemplated and embraced in this Agreement; for all loss and damage arising out of the nature of the Work aforesaid, and for all risks of every description connected with the said Work. Subcontractor expressly agrees that payment by Owner is an express condition precedent to Contractor’s obligation to pay Subcontractor and Subcontractor assumes the risk of nonpayment or delayed payment by Owner. Nothing contained herein shall be construed to limit Subcontractor’s lien rights or legal right to recover unpaid sums from the Owner.
BASIS AND SCOPE OF PAYMENT. Subcontractor understands and agrees that all payments to the Subcontractor for the Work are to be made from payments made by Owner from time to time to Contractor in respect of the Work performed by Subcontractor. Payments, except as elsewhere herein specified, will be made to the Subcontractor for Work actually performed and completed, as measured and certified by the Owner or by the Contractor, within ten (10) days after receipt by Contractor of payment from Owner for the Work of Subcontractor, provided Contractor has received all required documentation from Subcontractor, as provided in Article 3 below. Subcontractor expressly agrees that payment by Owner is an express condition precedent to Contractor’s obligation to pay Subcontractor and Subcontractor assumes the risk of nonpayment or delayed payment by Owner. Nothing contained herein shall be construed to limit Subcontractor’s lien rights or legal right to recover unpaid sums from the Owner.
