Common use of Defaults and Termination Clause in Contracts

Defaults and Termination. In the event Subcontractor interferes with the general progress of the general contract by negligence or delay, or Subcontractor abandons this contract or fails or refuses to furnish labor and materials at and when required under the terms of this subcontract, the Contractor may at its election take over said Subcontract, complete the same or cause the same to be completed and charge all sums of money so expended for the completion of this Subcontract against the Subcontractor, and Subcontractor agrees to reimburse the Contractor for any loss sustained thereby.