CONTINGENT ASSIGNMENT OF SUBCONTRACTS. § 5.4.1 Each subcontract, purchase order and similar agreement for a portion of the Work is assigned by the Contractor to the Owner, provided that .1 assignment is effective only after termination of the Contract by the Owner and only for those subcontracts, purchase orders and similar subcontract agreements that the Owner accepts by notifying the Subcontractor and Contractor in writing; and
CONTINGENT ASSIGNMENT OF SUBCONTRACTS. In the event of any suspension or termination of the Construction Contract, Contractor is hereby deemed to have offered to assign to City all its interest in contracts with Subcontractors now or hereafter entered into by Contractor for performance of any part of the Work. The assignment will be effective upon acceptance by City in writing and only as to those contracts which City designates in writing. City may accept, at its sole election, said assignment at any time during the course of the Work and prior to Final Completion in the event of a suspension or termination of Contractor's rights under the Contract Documents. Such assignment is part of the consideration to City for entering into the Contract with Contractor and may not be withdrawn prior to Final Completion.
CONTINGENT ASSIGNMENT OF SUBCONTRACTS. Subcontractor agrees that this Subcontract is assigned by the Contractor to the Owner provided that: 1) the assignment is effective only after termination of the Owner/Contractor Contract by the Owner for cause, and 2) the Owner notifies the Subcontractor and Contractor in writing of the Owner’s exercise of the assignment, and 3) the assignment is subject to the prior rights of the surety, if any, obligated under bond relating to the Owner/Contractor Contract.
CONTINGENT ASSIGNMENT OF SUBCONTRACTS. 5.4.1 Each subcontract agreement for a portion of the Work is assigned by the Contractor to the Owner provided that:
5.4.1.1 assignment is effective only after termination of the Contract by the Owner for cause pursuant to Paragraph 14.2 and only for those subcontract agreements which the Owner accepts by notifying the Subcontractor in writing; and
5.4.1.2 assignment is subject to the prior rights of the surety, if any, obligated under bond relating to the Contract.
5.4.2 If the Work in connection with a subcontract has been suspended for more than thirty (30) days after termination of the contract by the Owner pursuant to Paragraph 14.2 and the Owner chooses to accept assignment of such subcontract, the Subcontractor's compensation shall be equitably adjusted for any increase in direct costs incurred by such Subcontractor as a result of the suspension beyond the thirty (30) day period.
5.4.3 Each subcontract shall specifically provide that the Owner shall only be responsible to the Subcontractor for those obligations of the Contractor that accrue subsequent to the Owner's exercise of any rights under this conditional assignment.
CONTINGENT ASSIGNMENT OF SUBCONTRACTS. The Contractor hereby assigns to the County each Subcontract for a portion of the Work, provided that:
1. The assignment is effective only after the County’s termination of the Contractor’s right to proceed under the Contract (or portion thereof relating to that Subcontract) pursuant to Sections 1.13.F or 1.13.G above;
2. The Assignment is effective only for the Subcontracts which the County expressly accepts by notifying the Subcontractor in writing;
3. The assignment is subject to the prior rights, if any, of the surety, obligated by the Performance Bond provided under the Contract, where the surety exercises its rights to complete the Contract;
4. After the effectiveness of an assignment, the Contractor shall, at its sole cost and expense (except as otherwise provided in Sections 1.13.F or
CONTINGENT ASSIGNMENT OF SUBCONTRACTS. In the event of a termination of this Contract by the Owner under Article 14, the Prime Contractor shall, if requested in writing by the Owner, within fifteen (15) days after the date notice of termination is sent, deliver and assign to Owner, or any person or entity acting on the Owner's behalf, any or all subcontracts made by Prime Contractor in the performance of the Work, and deliver to the Owner true and correct originals and copies of the subcontract documents. In the event assignment is not requested by the Owner, Prime Contractor shall terminate all subcontracts to the extent that Owner has not directed assignment of same and to the extent that they relate to the performance of Work terminated by the notice of termination.
CONTINGENT ASSIGNMENT OF SUBCONTRACTS. § 4.7.1 Each subcontract agreement for a portion of the Work is assigned by the CM/GC to the Owner, provided that:
.1 Assignment is effective only after termination of the Contract by the Owner for cause pursuant to Section 13.6 and only for those subcontract agreements that the Owner accepts by notifying the Subcontractor and CM/GC in writing; and
.2 Assignment is subject to the prior rights of the surety, if any, obligated under bond relating to the Contract.
§ 4.7.2 Upon such assignment, if the Work has been suspended for more than thirty (30) days, the Subcontractor’s compensation shall be equitably adjusted for increases in cost resulting from the suspension.
§ 4.7.3 Upon such assignment to the Owner under this Section 4.7, the Owner may further assign the subcontract to a successor contractor or other entity. If the Owner assigns the subcontract to a successor contractor or other entity, the Owner shall nevertheless remain legally responsible for all of the successor contractor’s obligations under the subcontract.
CONTINGENT ASSIGNMENT OF SUBCONTRACTS. Each Subcontract for a portion of the Trade Contractor Work is assignable by the Trade Contractor to the Authority provided that: .1 assignment is effective only after termination of the Trade Contractor Work or stoppage of Trade Contractor Work by the Authority as provided in the Trade Contract Agreement and only for those Subcontracts which the Authority accepts by notifying the Subcontractor in writing in the Authority’s sole discretion; and
CONTINGENT ASSIGNMENT OF SUBCONTRACTS. 5.3.1. Assignability 5.3.2. Suspended Work 5.3.3. Successor 5.3.4. Duties
CONTINGENT ASSIGNMENT OF SUBCONTRACTS. 5.5.1 If this Agreement is terminated, each subcontract agreement is assigned by the Contractor to the Owner, subject to the prior rights of any surety provided that:
.1 the Contract is terminated by the Owner pursuant to Paragraphs 11.3 or 11.4; and .2 the Owner accepts such assignment after termination by notifying the Subcontractor and Contractor in writing.
