Common use of CONTINGENT ASSIGNMENT OF SUBCONTRACT Clause in Contracts

CONTINGENT ASSIGNMENT OF SUBCONTRACT. The Contractor's contingent assignment of the Subcontract to the Owner, as provided in the Contractor's Contract with the Owner, is effective when the Owner has terminated the Contract for cause and has accepted the assignment by notifying the Subcontractor in writing. This contingent assignment is subject to the prior rights of a surety that may be obligated under the Contractor's bond, if any. The Subcontractor consents to such assignment and agrees to be bound to the assignee by the terms of this Subcontract.

CONTINGENT ASSIGNMENT OF SUBCONTRACT. The Contractor's contingent assignment of the Subcontract to the Owner, as provided in the Contractor's Contract agreement with the Owner, is effective when the Owner has terminated the Contract for cause and has accepted the assignment by notifying the Subcontractor in writing. This contingent assignment is subject to the prior rights of a surety that may be obligated obli- gated under the Contractor's bond, if any. The Subcontractor consents con- sents to such assignment and agrees to be bound to the assignee by the terms of this Subcontract.

CONTINGENT ASSIGNMENT OF SUBCONTRACT. The Contractor's contingent assignment of the Subcontract to the Owner, as provided in the Contractor's Contract agreement with the Owner, is effective when the Owner has terminated the Contract for cause and has accepted the assignment by notifying the Subcontractor in writing. This contingent assignment is subject to the prior rights of a surety that may be obligated under the Contractor's bond, if any. The Subcontractor consents to such assignment and agrees to be bound to the assignee by the terms of this Subcontract.

CONTINGENT ASSIGNMENT OF SUBCONTRACT. The Contractor's contingent assignment of the Subcontract to the Owner, as if provided in the Contractor's Contract with the OwnerDocuments, is effective when the Owner (a) has terminated the Contract for cause and lb) has accepted the assignment by notifying the Subcontractor in writing. This contingent assignment is subject to the prior rights of a surety that may be obligated under the Contractor's bond, if any. The Subcontractor hereby consents to such assignment and agrees to be bound to the assignee by the terms of this Subcontract.