ESTABLISHMENT OF GUARANTEED MAXIMUM PRICE “GMP Sample Clauses

ESTABLISHMENT OF GUARANTEED MAXIMUM PRICE “GMP. 5.1 Guaranteed Maximum Price (GMP) is the amount agreed upon between the District and Contractor that shall not be exceeded for the Construction of the Project within the Contract Time based on Contractor’s thorough review of the Contract Documents, Due Diligence in investigation of all aspects of the Project. The GMP includes the costs for the Sublease Payments being paid by the District as Progress Payments and Retention Payment during construction in accordance with the terms of this Construction Services Agreement. Any references to Progress Payments shall also mean Sublease Payments. A Construction Contingency (Article 5.2.1) and an Errors and Omissions Contingency (Article 5.2.2) is contained within the GMP. Costs that are outside of the GMP shall be as follows:
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ESTABLISHMENT OF GUARANTEED MAXIMUM PRICE “GMP. A. The preliminary "Estimated GMP" for the Project shall be $ ($ ). The Estimated GMP shall be subject to modification when the Construction Documents are finalized and approved by the Division of the State Architect ("Final GMP"). The Estimated GMP is based upon plans and specifications existing and reviewed by the Contractor at the time this Construction Services Agreement is entered into as more fully described and referenced in the Scope of Work set forth in Exhibit "A." Sublease Payments and/or Sublease Prepayments by the District pursuant to the Sublease and Section 26 hereof shall be commensurate with the GMP. The Final GMP shall be subject to adjustments for Extra Work/Modifications in accordance with the provisions of Section 9 and adjustments for reductions in the Scope of Work pursuant to the provisions of Section 4(B), below. The Estimated GMP includes, and the Final GMP shall include, the cost of all labor, materials, equipment, general conditions, overhead, profit and Contractor contingency in an amount to be negotiated upon the finalization of the GMP.
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ESTABLISHMENT OF GUARANTEED MAXIMUM PRICE “GMP. 5.1 Guaranteed Maximum Price (GMP) is the amount agreed upon between the District and Contractor that shall not be exceeded for the Construction of each Capital Improvement Program Project within the Contract Time based on Contractor’s thorough review of the Contract Documents, Due Diligence in investigation of all aspects of the Project, as set forth in Exhibit K for each Capital Improvement Program Project. The GMP includes the costs for the Sublease Payments being paid by the District as Progress Payments and Retention Payment during construction in accordance with the terms of this Master Construction Services Agreement. Any references to Progress Payments shall also mean Sublease Payments. A Construction Contingency (Article 5.2.1) and an Errors and Omissions Contingency (Article 5.2.2) is contained within the GMP. Costs that are outside of the GMP shall be as follows:
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ESTABLISHMENT OF GUARANTEED MAXIMUM PRICE “GMP. A. The preliminary "Estimated GMP" for the Project shall be $20,459,251 (Twenty Million Four Hundred Fifty Nine Thousand Two Hundred and Fifty One). The Estimated GMP shall be subject to modification when the Construction Documents are finalized and approved by the Division of the State Architect ("Final GMP"). The Estimated GMP is based upon plans and specifications existing and reviewed by the Contractor at the time this Construction Services Agreement is entered into as more fully described and referenced in the Scope of Work set forth in Exhibit "A, “Sublease Payments and/or Sublease Prepayments by the District pursuant to the Sublease and Section 26 hereof shall be commensurate with the GMP. The Final GMP shall be subject to adjustments for Extra Work/Modifications in accordance with the provisions of Section 9 and adjustments for reductions in the Scope of Work pursuant to the provisions of Section 4(B), below. The Estimated GMP includes, and the Final GMP shall include, the cost of all labor, materials, equipment, general conditions, overhead, profit and Contractor contingency in an amount to be negotiated upon the finalization of the GMP.
Sample 1
ESTABLISHMENT OF GUARANTEED MAXIMUM PRICE “GMP. A. The estimated GMP for the Project shall be Dollars ($ ), as further described in Exhibit "C" of the Sublease. The final GMP shall be based upon the approved plans and specifications existing and reviewed by Contractor at the time the amended Construction Services Agreement is entered into as more fully described and referenced in the Scope of Work set forth in Exhibit “A.” Contractor’s detailed line item costing of the Project, or Master Budget, totaling the GMP is attached hereto as Exhibit “B.” Furthermore, District represents and warrants that the GMP consists of the Tenant Improvement Payments plus the Sublease Payments to be paid as a portion of the rental of the Project and Site under the terms of the Sublease. District represents and warrants that (1) the total amount of Sublease Payments includes the total rental for the Project, which total does not exceed the fair market value for the Project; (2) said rental amount has been incorporated into the GMP in consideration and inducement of this Construction Services Agreement, the Site Lease, the Sublease, the uses and purposes which may be served by the Project, and the benefits therefrom which will accrue to District and the general public; and
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ESTABLISHMENT OF GUARANTEED MAXIMUM PRICE “GMP. 5.1 Guaranteed Maximum Price (GMP) is the amount, exclusive of any finance charges included in the Sublease Payments, agreed upon between the District and Contractor that shall not be exceeded for the Construction of the Project within the Contract Time based on Contractor’s thorough review of the Contract Documents, Due Diligence in investigation of all aspects of the Project. The GMP includes the costs for the Tenant Improvement Progress Payment Amount being paid by the District as Progress Payments and Retention during construction in accordance with the terms of this Construction Services Agreement and the Sublease Payments, exclusive of any finance charges, being paid under the terms of the Sublease. A Construction Contingency (Article 5.2.1) and an Errors and Omissions Contingency (Article 5.2.2) is contained within the GMP. Costs that are outside of the GMP shall be as follows:
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ESTABLISHMENT OF GUARANTEED MAXIMUM PRICE “GMP 
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Related to ESTABLISHMENT OF GUARANTEED MAXIMUM PRICE “GMP

  • Guaranteed Maximum Price (GMP Construction Manager guarantees that it shall not exceed a Guaranteed Maximum Price (GMP) of Four Million, Six Hundred Thirteen Thousand, Two Hundred Ninety-Three Dollars and Fifty Cents ($4,613,293.50) for the identified Sub-Project.

  • Guaranteed Maximum Price The anticipated Guaranteed Maximum Price for the Project at the time this Agreement is executed is: Forty Six Million, Twenty Nine Thousand Dollars ($46,029,000)

  • GUARANTEED MAXIMUM PRICE PROPOSAL 7.1 At the conclusion of the Design Development phase the Contractor shall prepare and submit a Guaranteed Maximum Price Proposal to Owner based on the Design Development phase documents and review comments. The GMP shall be delivered to the Owner within three (3) weeks of the Design Development review meeting or a date established by the Owner. The GMP Proposal must be prepared in accordance with the guidelines established by Owner and delivered in the format specified by Owner in Exhibit “E” attached to this Agreement. Owner, at its sole option and discretion, may specify different requirements for the GMP Proposal. Contractor shall not withdraw its Guaranteed Maximum Price Proposal for ninety (90) days following submission to Owner.

  • Guaranteed Maximum Costs The City’s payment obligation to Contractor cannot at any time exceed the amount certified by City’s Controller for the purpose and period stated in such certification. Absent an authorized Emergency per the City Charter or applicable Code, no City representative is authorized to offer or promise, nor is the City required to honor, any offered or promised payments to Contractor under this Agreement in excess of the certified maximum amount without the Controller having first certified the additional promised amount and the Parties having modified this Agreement as provided in Section 11.5, “Modification of this Agreement.”

  • C1 Contract Price C1.1 In consideration of the Contractor’s performance of its obligations under the Contract, the Authority shall pay the Contract Price in accordance with clause C2 (Payment and VAT).

  • QUANTITY BASIS OF CONTRACT – NO GUARANTEED QUANTITIES The contract established has no guarantee of any specific quantity and the State is obligated only to buy that quantity which is needed by its agencies.

  • THE CONTRACT PRICE A. This Contract is an indefinite-quantity contract for construction work and services. The Estimated Annual Value of this Contract is $2,000,000. This is only an estimate and may increase or decrease at the discretion of Sourcewell.

  • Contract Price 5.01 Owner shall pay Contractor for completion of the Work in accordance with the Contract Documents the amounts that follow, subject to adjustment under the Contract:

  • Unit Price Work Work to be paid for on the basis of unit prices as defined and described in the Contract Documents. A percentage markup for overhead or profit shall be included in all unit prices.

  • Project Timeline The Project Timeline establishes a start and end date for each Phase of the Project. Developed during the Initiate & Plan Stage and revised as mutually agreed to, if needed, the timeline accounts for resource availability, business goals, size and complexity of the Project, and task duration requirements.

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