Common use of CONTINGENT ASSIGNMENT OF SUBCONTRACT Clause in Contracts

CONTINGENT ASSIGNMENT OF SUBCONTRACT. 4.3.1 If this Agreement is terminated, each subcontract agreement shall be assigned by Consultant to Owner, subject to the prior rights of any surety, provided that: (a) this Agreement is terminated by Owner pursuant to sections 9.2 or 9.3; and (b) Owner accepts such assignment, after termination by notifying the Subcontractor and Consultant in writing, and assumes all rights and obligations of Consultant pursuant to each subcontract agreement. The Owner does not assume responsibility for any of Consultant’s obligations existing prior to the date of assumption unless expressly agreed to in writing. 4.3.2 If Owner accepts such an assignment, and the Services have been suspended for more than thirty (30) consecutive Days, following termination, if appropriate, the Subcontractor's compensation shall be equitably adjusted as a result of the suspension.