Common use of Breach of Covenant of Time Clause in Contracts

Breach of Covenant of Time. As time is of the essence in the completion of the Work, CM/GC is in breach of the covenant of time and is subject to termination. Owner may pursue all remedies available for CM/GC’s failure to timely complete the Work. Ineligibility to Bid or Propose on State Contracts. CM/GC is ineligible to bid or propose on any contract with the Georgia State Financing and Investment Commission, the Board of Regents of the University System of Georgia, or any unit of the University System of Georgia. In the event a bid has been submitted but the bid award has not been made, CM/GC’s ineligibility requires that its bid be rejected.