GMAX Contracts Clause Samples
The "GMax Contracts" clause defines the terms and conditions under which GMax, a party or entity, enters into contractual agreements. This clause typically outlines the scope of services, obligations, and rights of GMax, as well as any specific requirements or limitations that apply to their contracts. For example, it may specify the types of projects GMax will undertake, the standards to be met, or the procedures for amending the contract. The core function of this clause is to ensure clarity and mutual understanding between GMax and the other contracting party, thereby reducing the risk of disputes and misunderstandings.
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GMAX Contracts. As of the Closing Date, Borrower has entered into fixed price or guaranteed maximum price contracts in respect of 45% or more of the Hard Costs Line Items set forth in the Budget as of the Closing Date, which contracts have been presented to the Administrative Agent and the Construction Consultant.
GMAX Contracts. Tenant shall enter into written “Guaranteed Maximum Price” contract, approved pursuant to the Option Agreement, with a general contractor for construction of the Initial Improvements. All construction of the Initial Improvements shall be performed by contractors and subcontractors duly licensed as such under the laws of the State of California. Tenant shall give County a true copy of the contract or contracts with the general contractor.