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.
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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.
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Buyout Savings. Notwithstanding any other provision in the Contract Documents to the contrary, if the Maximum Cost of the Work in the GMP is greater than the actual Cost of the Work following the bidding of subcontracts on the Project, such "Buyout Savings" shall be retained 100% by the Owner.
Sample 1
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 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.

  • 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 (1) 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 of 1% of each represented employee’s annual payroll earnings will be made

  • 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.

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