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.
Appears in 3 contracts
Samples: facilities.ufl.edu, facilities.ufl.edu, facilities.ufl.edu
Buyout Savings. If Design/Builder 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. If, after offsetting any shortfalls, buyout savings remain, at the time provided on Exhibit F D for the award of subcontracts, all buyout savings shall be returned to the Owner via “no cost” change order.
Appears in 2 contracts
Samples: Agreement for Construction Management Services, Agreement for Construction Management Services
