Cost Ceiling Clause Samples
Cost Ceiling. 1. For services performed under this Agreement for the referenced fiscal years, EDCTC agrees to pay, and Consultant agrees to accept, as payment in full, the following professional fees: In no instance shall EDCTC be liable for any payments or costs for work in excess of this amount, nor for any unauthorized or ineligible costs.
Cost Ceiling. The Contractor shall notify the contract administrator (CA), in writing, whenever it has reason to believe that the total cost for the performance cost reimbursement CLIN of the HCA will be either greater or substantially less than the ceiling.
Cost Ceiling. The TI Construction Costs shall not exceed dollars ($ ) (“Cost Ceiling”). Landlord shall make commercially reasonable efforts to ensure that the Contractor delivers the Tenant Improvements for an amount less than or equal to the Cost Ceiling. Landlord shall notify District, in writing, whenever it has reason to believe, due to the Contractor’s bid, Change Orders, or unforeseen circumstance not reasonably contemplated or attributable to the Contractor, that the total cost for the Tenant Improvements will be either greater or substantially less than the Cost Ceiling. As part of the notification, Landlord shall provide District a revised estimate for constructing the Tenant Improvements. District is not obligated to reimburse Landlord for amounts incurred in excess of the Cost Ceiling and Landlord is not obligated to continue to construct the Tenant Improvements or otherwise incur amounts in excess of the Cost Ceiling (“Excess Costs”), until District notifies Landlord, in writing, that any such Excess Cost has been approved and that District is authorized to pay Landlord the Excess Cost. Any delay in completion of the Tenant Improvements pending such authorization shall be deemed a District Delay. No notice, communication, or representation in any form from any person other than the Director of the District of Columbia Department of Real Estate Services shall authorize the payment of any Excess Cost. In the absence of the specified notice, District is not obligated to pay Landlord for any amounts in excess of the Cost Ceiling. A Change Order shall not be considered an authorization to exceed the Cost Ceiling, unless the Change Order specifically indicates that it shall result in Excess Cost and is executed by the Director of the District of Columbia Department of Real Estate Services as provided herein.