Common use of Failure to Furnish an Acceptable GMP Clause in Contracts

Failure to Furnish an Acceptable GMP. If the XXXX does not furnish a Cost for the Work, that when added to its proposal for Construction Manager at Risk Fee and Specified General Conditions, its negotiated Preconstruction Fee, NMGRT, and all other costs resulting in a GMP that is within Owner's Target GMP Range bound by the MACC, or if Owner determines at any time in its sole discretion that the parties may fail to reach a timely agreement on a GMP acceptable to Owner, Owner may terminate this Contract without liability, and the Construction Manager at Risk shall not receive additional compensation beyond the Preconstruction Fee under this Contract and sums due under any Early Work Amendment.