Approved Subcontractor definition
Examples of Approved Subcontractor in a sentence
Nothing in the Agreement shall be construed to impose on Buyer or Owner any obligation, liability or duty to an Approved Subcontractor or any other Subcontractor or to create any contractual relationship between any Subcontractor, including any Approved Subcontractor, or other third party and Buyer, including an obligation to pay or to see to the payment of any moneys due any such Subcontractor, Approved Subcontractor or other third party.
All contracts between Seller and Approved Subcontractors shall preserve and protect the rights of Buyer and Owner, shall not prejudice such rights and shall require each Approved Subcontractor to enter into similar agreements with its subcontractors.
If an Approved Subcontractor, that has been selected to provide or is providing equipment, becomes subject to bankruptcy or insolvency proceedings or is unable, in Seller’s reasonable judgment, to supply all of the relevant equipment due to capacity constraints, Seller and Buyer will collaborate to develop a list of three or fewer acceptable Subcontractors to replace or supplement such Approved Subcontractor, and shall amend Appendix G accordingly.
No subcontract with an Approved Subcontractor shall bind or purport to bind Buyer, but each such subcontract shall contain a provision permitting its assignment to Buyer, Owner or the Lenders upon Buyer’s or Seller’s written request.
In addition to the requirements set forth above, Seller shall include in each contract with an Approved Subcontractor language under which Buyer and Owner shall be made express third party beneficiaries of such contract.