Common use of Contract with General Contractor and Architects: Additional Contractors Clause in Contracts

Contract with General Contractor and Architects: Additional Contractors. Except as permitted in Section 7.4, the Borrower will not, without the prior approval of the City: (a) terminate or cancel or amend or modify in any manner any contracts or agreement with any general contractor or architect for the providing of labor, services or materials in connection with the construction of the Improvements; (b) permit any default under the terms thereof, (c) waive any of the obligations of any general contractor or any architect thereunder; or (d) take any action or fail to take any action which would relieve any general contractor or architect from its obligations thereunder. The Borrower will immediately notify the City of any additional or substitute general contractors or any architects with whom the Borrower has dealt in connection with the construction of the Improvements, and the City has the right to require the submission of any additional Loan documentation regarding such contractors or architects and the right to approve or disapprove any such additional or substitute general contractors or such architects, which consent or approval shall not be unreasonably withheld.