Buyout Savings Sample Clauses

Buyout Savings. (i) If Construction Manager receives bids for portions of the Work which are less than the amounts budgeted in the GMP proposal approved by Owner for such portions of the Work, such buyout savings shall first be utilized to offset shortfalls on other bid packages.
Sample 1Sample 2Sample 3See All (15)
AutoNDA by SimpleDocs
Buyout Savings. If Design/Builder receives bids for portions of the Work which are less than the amounts budgeted in the GMP proposal approved by Owner for such portions of the Work, such buyout savings shall first be utilized to offset shortfalls on other bid packages. If, after offsetting any shortfalls, buyout savings remain, at the time provided on Exhibit F for the award of subcontracts, all buyout savings shall be returned to the Owner via “no cost” change order.
Sample 1Sample 2Sample 3See All (5)
Buyout Savings. Buyout Savings is defined as the difference between the Cost of the Work, including Construction Manager’s Fee and the GMP when the total Cost of the Work, including the Construction Manager’s Fee, is less than the GMP after giving effect to adjustments for changes in the Work. The tracking and reporting of Buyout Savings to the Owner’s Project Representative is the responsibility of the Construction Manager and is subject to audit by the Owner. The Owner’s Project Representative shall provide the Buyout Transfer Authorization Form to the Construction Manager.
Sample 1
Buyout Savings. In the event that the total of Cost of the Work, including the Construction Manager’s Fee, is less than the GMP after giving effect to adjustments for changes in the Work, then the difference between the Cost of the Work, including Construction Manager’s Fee and the GMP is defined herein as “Buyout Savings”. The tracking and reporting of Buyout Savings to the Owner’s Project Representative is the responsibility of the Construction Manager. After the GMP has been “bought out”, the Construction Manager is required to provide in writing, and in a format deemed suitable by the Owner’s Project Representative, a reconciliation of the referenced savings by individual trade or subcontractor contract. The Owner’s Project Representative shall review and approve the Buyout Savings reported, and the Construction Manager shall be required to modify the Schedule of Values to include a “Buyout Savings” line item. Prior to the use of Buyout Savings, the Construction Manager must submit a request, signed by the Architect, to the Owner’s Project Representative for approval. All remaining Buyout Savings (excluding the Construction Manager’s Fee applied at time of GMP) shall be returned to the Owner as Project Savings.
Sample 1
Buyout Savings 
Sample 1

Related to Buyout Savings

  • Cost Savings Developer shall work cooperatively with Architect, Construction Manager, subcontractors and District, in good faith, to identify appropriate opportunities to reduce the Project costs and promote cost savings. Any identified cost savings from the Guaranteed Maximum Price shall be identified by Developer, and approved in writing by the District. In the event Developer realizes a savings on any aspect of the Project, such savings shall be added to the Contingency and expended consistent with the Contingency. In addition, any portion of Allowance remaining after completion of the Project shall be added to the Contingency. If any cost savings require revisions to the Construction Documents, Developer shall work with the District and Architect with respect to revising the Construction Documents and, if necessary, obtaining the approval of DSA with respect to those revisions. Developer shall be entitled to an adjustment of Contract Time for delay in completion caused by any cost savings adopted by District pursuant to Exhibit D, if requested in writing before the approval of the cost savings.

  • Retirement Savings 5.6.1 Principals are eligible to join a KiwiSaver scheme in accordance with the terms of those schemes.

  • Retirement Savings Plan Within fifteen (15) days after the date of Termination of Employment, the Company shall pay to Employee a cash payment in an amount, if any, necessary to compensate Employee for the Employee’s unvested interests under the Company’s retirement savings plan which are forfeited by Employee in connection with the Termination of Employment.

  • PayPal Payouts If you are using PayPal Payouts (formerly Mass Pay), the terms of the PayPal Payouts Agreement will apply. Your responsibility as a Corporate Customer to notify PayPal of pricing or fee errors Once you have access to any account statement(s) or other account activity information made available to you by PayPal with respect to your business account(s), you will have 60 days to notify PayPal in writing of any errors or discrepancies with respect to the pricing or other fees applied by PayPal. If you do not notify PayPal within such timeframe, you accept such information as accurate, and PayPal shall have no obligation to make any corrections. For the purposes of this provision, such pricing or fee errors or discrepancies are different than unauthorized transactions and other electronic transfer errors which are each subject to different notification timeframes as set forth herein.

  • Health Care Savings Plan As provided in this Agreement, eligible ASF Members will participate in the health care savings plan (HCSP) established under Minnesota Statute 352.98, and as administered by the Plan Administrator. The Employer is responsible only for transferring funds, as specified in this agreement, to the Plan Administrator.

  • Savings Plan Executive will be eligible to enroll and participate, and be immediately vested in, all Company savings and retirement plans, including any 401(k) plans, as are available from time to time to other key executive employees.

  • Can a Savings and Incentive Match Plan for Employees of Small Employers (“SIMPLE”) Be Used in Conjunction with a Traditional IRA? A Traditional IRA may also be used in connection with a SIMPLE Plan established by your employer (or by you if you are self-employed). When this is done, the IRA is known as a SIMPLE IRA, although it is similar to a Traditional IRA with the exceptions described below. Under a SIMPLE Plan, you may elect to have your employer make salary reduction contributions to your SIMPLE IRA up to $13,500 in 2020 and $13,500 in 2021. The limits may be adjusted periodically for cost of living increases. In addition, your employer will contribute certain amounts to your SIMPLE IRA, either as a matching contribution to those participants who make salary reduction contributions or as a non-elective contribution to all eligible participants whether or not they make salary reduction contributions. A number of special rules apply to SIMPLE Plans, including (1) a SIMPLE Plan generally is available only to employers with fewer than 100 employees,

  • AGGREGATION PLAN Competitive Supplier agrees that it has been provided with and had a reasonable opportunity to examine, and has examined, the Aggregation Plan, and has not discerned any conflicts between this Agreement and the Aggregation Plan. The Parties agree that the Aggregation Plan, in the form as it exists on the Effective Date, shall be construed harmoniously with this Agreement to the greatest practicable extent. Notwithstanding the foregoing, in the event of any conflict between this Agreement and the Aggregation Plan, the Agreement shall govern.

  • Defined Contribution Plan The Employer will establish the following Employer contribution programs in the existing salary deferral plans: » Beginning in 2006 and continuing throughout the term of the Agreement, a performance-based contribution

  • Cost Sharing a) With respect to the funding in C6.1a), should there be an amount of employee co-pay, the Trust shall advise boards what that amount shall be. Unless advised otherwise, there will be no deductions upon the Participation Date.

Time is Money Join Law Insider Premium to draft better contracts faster.