Examples of Subcontract Price in a sentence
The Subcontractor shall maintain excess/umbrella liability (“Excess”) coverage with a limit of not less than $2,000,000 Combined Single Limit, except when the Subcontract Price exceeds $1,000,000, in which event the policy(ies) shall be written with a limit of not less than $5,000,000 Combined Single Limit.
The Subcontract Price is firm and includes all federal, state, county and municipal taxes imposed by law and based upon labor, services, materials, equipment or other items acquired, performed, furnished or used in connection with the Subcontract Work, including, but not limited to, sales, use, gross receipts, excise, unemployment and personal property taxes payable by or levied or assessed against Owner, Xxxxxxxxx or Subcontractor.
Subcontractor from time to time shall deliver to Xxxxxxxxx for similar approval such supplements thereto as Xxxxxxxxx requires in order to reflect approved changes in the Subcontract Price.
Any increase in the Subcontract Price shall automatically result in a corresponding increase in the penal amount of the bonds: decreases in the Subcontract Price shall not however reduce the penal amount of the bonds unless specifically provided in a written change order.
Such bonds shall provide that the surety waives notice of any change, alteration or extension under the Subcontract Documents including but not limited to a change in the Subcontract Price, scope or time.