Subcontractor Default definition
Examples of Subcontractor Default in a sentence
Owner will not pay for amounts that may represent a deductible in any insurance policy including a Subcontractor Default Insurance policy (i.e. Subguard).
Premiums for Subcontractor Default Insurance for either full or partial amounts of the coverages required by the Contract Documents, with the Owner’s approval.
Owner does not permit Contractor Controlled Insurance Program (CCIP) or Subcontractor Default Insurance (SDI).
Use of Contractor Controlled Insurance Program (CCIP) or Subcontractor Default Insurance (SDI) requires evidence of cost savings, and approval by Owner.
Should the Project be enrolled in a Subcontractor Default Insurance Program (“Subguard”), Contractor shall timely provide the requisite documentation for enrollment into said program and promptly cooperate with the requirements of the Subguard provider.
If and to the extent any deductibles on account of the Subcontractor Default Insurance policy (as described in Exhibit 5) are paid as a Cost of Work, such amount shall be added to the Allowable Cost, Expected Cost, Target Cost and EMP by way of Change Order.
Construction Manager may provide Subcontractor Default Insurance as recognized in Section 6.6.1 of the Agreement.
The Insurance Premium Rate for Subcontractor Default Insurance shall be 1.25% of the subcontract value of any enrolled Subcontractor.
Trade Contractor Payment and Performance Bonds or Subcontractor Default Insurance.
Furthermore, Borrower shall, promptly upon obtaining knowledge thereof, give the Agent notice of the occurrence of any Subcontractor Default under (and as defined in) the Rova I Coal Supply Agreement and/or the Rova II Coal Supply Agreement Borrower shall, at all times after the Rova I Commercial Operations Date during the term of the Agreement, maintain at least a 15-day inventory of Subject Coal at the Rova I Facility and at the Rova II Facility.