Common use of Conditional Assignment Clause in Contracts

Conditional Assignment. Contractor hereby conditionally assigns to Owner its rights to all Subcontracts, subject to Contractor’s sureties’ rights, under their bonds. Owner may exercise, at its election, this assignment if Owner terminates the Agreement in whole or in part, or directly or indirectly takes control of all or any portion of the Work. In so doing, Owner may reassign the Subcontracts to any other Person or entity.‌

Conditional Assignment. Contractor hereby conditionally assigns to Owner its rights to all Subcontracts, [subject to Contractor’s sureties’ rights, under their bonds]. Owner may exercise, at its election, this assignment if Owner terminates the Agreement in whole or in part, or directly or indirectly takes control of all or any portion of the Work. In so doing, Owner may reassign the Subcontracts to any other Person or entity.‌

Conditional Assignment. Contractor hereby conditionally assigns to Owner its rights to all Subcontracts, subject to Contractor’s sureties’ rights, under their bonds. Owner may exercise, at its election, this assignment if Owner terminates the Agreement in whole or in part, or directly or indirectly takes control of all or any portion of the Work. In so doing, Owner may reassign the Subcontracts to any other Person or entity.‌entity.