Assignability of Subcontracts to Owner. Each agreement between the Vendor and a Subcontractor must contain a provision stating that, in the event that the Vendor is terminated for cause, convenience, abandonment of this Contract or otherwise, (i) each Subcontractor will continue its portion of the Work as may be requested by the Owner and (ii) such agreement permits assignment thereof without penalty to the Owner and, in order to create security interests, to the Other Vendors, in either case at the option of the Owner and for the same price and under the same terms and conditions as originally specified in such Subcontractor's agreement with the Vendor.
Assignability of Subcontracts to Owner. The Vendor will use its best -------------------------------------- efforts to ensure that each material agreement between the Vendor and a Subcontractor must contain a provision stating that, in the event that the Vendor is terminated for cause, convenience, abandonment of this Contract or otherwise, (i) each Subcontractor will continue its portion of the Work as may be requested by the Owner and (ii) such agreement permits assignment thereof without penalty to the Owner and, in order to create security interests, to the Other Vendors, in either case at the option of the Owner and for the same price and under the same terms and conditions as originally specified in such Subcontractor's agreement with the Vendor. Furthermore, the Vendor will use its best efforts to ensure that each material agreement between the Vendor and a Subcontractor contains a provision stating that such agreement may be made available in whole or in part to the Owner at its reasonable request without causing the violation and/or breach of any such agreement. In the event the Vendor is unable to ensure each such material Subcontractor agreement complies with all of the requirements of this subsection 4.4 to the Owner, the Vendor will notify the Owner of its inability to do so prior to executing such arrangement with such Subcontractor and the Vendor will provide the Owner a reasonable opportunity to determine whether it requires any such requirement in question and if the Owner determines in its reasonable opinion that it in fact requires such requirement the Vendor will not execute such Subcontractor agreement without first obtaining the prior written consent of the Owner.
Assignability of Subcontracts to Owner. In every agreement entered -------------------------------------- into after the Effective Date with a Subcontractor for a Major Portion of the Work, Contractor shall obtain a provision stating that (a) in the event that Contractor is terminated for cause, convenience, abandonment of Contract or otherwise, each Subcontractor will continue its portion of the Work as may be requested at the option of Owner, (b) such agreement permits assignment thereof to Owner at the option of Owner and to the Financing Parties for security purposes at the option of Owner, in either instance under all the same terms and conditions as originally specified in the Subcontractor's agreement with Contractor, and (c) that Owner is the intended third party beneficiary of such agreement and that such third-party beneficiary rights may be assigned by Owner to the Financing Parties for security purposes. In this regard, Contractor shall also cause each Subcontractor of a Major Portion of the Work to execute a Subcontractor Assignment and Consent Agreement.
