Contractors Agreements Clause Samples
The CONTRACTOR'S AGREEMENTS clause defines the contractor's responsibility to enter into and maintain necessary agreements with third parties, such as subcontractors or suppliers, to fulfill their obligations under the main contract. This clause typically requires the contractor to ensure that all such agreements are consistent with the terms of the primary contract and may obligate the contractor to provide copies or evidence of these agreements to the client upon request. Its core practical function is to ensure that all parties involved in the project are contractually bound to meet the project's requirements, thereby reducing the risk of non-performance and ensuring smooth project execution.
Contractors Agreements. 2.1 Expense Statements The Contractor shall on or before the 15th day of each calendar month during the term hereof, or if a Saturday, Sunday or holiday the next following business day, render to the Company an itemized statement and accounting for the previous calendar month, together with such supporting documents as and when the Company may reasonably require, of all expenses which the Company is obligated by this Agreement to reimburse. The Contractor may incur expenses in the name of the Company up to an amount per month as agreed in advance by the Company, such expenses to relate solely to the carrying out of the Services. The Contractor will immediately forward all invoices for expenses incurred on behalf of and in the name of the Company and the Company agrees to pay said invoices directly on a timely basis.
Contractors Agreements. Expense Statements. The Contractor may incur expenses in the name of the Company as agreed in advance in writing by the Company, provided that such expenses relate solely to the carrying out of the Services. The Contractor will immediately forward all invoices for expenses incurred on behalf of and in the name of the Company and the Company agrees to pay said invoices directly on a timely basis. The Contractor agrees to obtain approval from the Company in writing for any individual expense of $500 or greater or any aggregate expense in excess of $1,000 incurred in any given month by the Contractor in connection with the carrying out of the Services.
Contractors Agreements. Developer has advised Contractor that Developer will obtain the Advances from Owner for, among other things, the construction of the Improvements. Contractor hereby agrees to each and every one of the following for the benefit of Owner and as an inducement to Owner to make Advances to Developer for construction of the Improvements:
(a) Contractor will (i) store all materials that are pre-purchased under the Construction Contract at the Property in a manner acceptable to Owner or in a warehouse acceptable to Owner, (ii) verify that the Builder's Risk Insurance Policy relating to the Improvements specifically covers any materials so pre-purchased and (iii) execute any and all documents Owner shall reasonably require to transfer title to said pre-purchased materials to Owner.
(b) Contractor guarantees that if for any reason, by virtue of Contractor's participation in the erection or construction of said Improvements or that of any subcontractor performing work or supplying materials covered by the Construction Contract, a lien or liens is or are filed against the Property or the Improvements, for materials or labor, Contractor will immediately obtain a settlement of such lien or liens and obtain and furnish Developer and Owner a release thereof, or if it cannot obtain such a release, within 30 days of the date of filing of such lien, Contractor agrees to indemnify Developer and Owner for any and all reasonable costs Developer or Owner may incur in removing said lien or liens and provide Developer and Owner with such security or assurances that Developer and Owner may reasonably require.
(c) In the event of default by Developer under any term, covenant or provision of the Construction Contract, Contractor will give the Owner 30 days' prior written notice of such default prior to Contractor's exercise of any of its rights or remedies under such Construction Contract or at law, and Owner shall have the right, but not the obligation, during said 30-day period to cure such default. Only in the event Owner fails to cure or cause to be cured any such default during said 30-day period shall Contractor have the right to terminate the Construction Contract. Contractor will deliver to Owner a copy of all notices of termination given by Contractor to Developer under the Construction Contract simultaneously with the delivery of any such notice of termination to Developer.
(d) In the event of default by Developer under the Development Agreement or any of the documents rela...
Contractors Agreements