Common use of Benefits and Assignment Clause in Contracts

Benefits and Assignment. This Agreement shall be binding upon and inure to the benefit of the parties hereto, their partners, heirs, personal representatives, successors and duly approved assigns. The Construction Manager shall not assign the whole or any part of this Agreement or any monies due or to become due hereunder without the prior written consent of the Principal Representative. No assignment, without said prior approval, shall be valid. In case the Construction Manager makes any assignment of any monies which is consented to by the Principal Representative, the instrument of assignment shall contain a clause substantially to the effect that it is agreed that the right of the assignee in and to any monies due or to become due to the Construction Manager shall be subject to all claims of all persons, firms, or corporations for services rendered or materials supplied for the performance of the work called for in this Agreement, whether such service or materials were supplied prior to or after the assignment.