GMP Acceptance Clause Samples
GMP Acceptance. GMP Acceptance means the document approved by TFC when price points have been identified and approved by TFC on matters related to Cost of Work, Pre-Construction Management Fees, as defined below, Construction Management Fees and such contingencies.
GMP Acceptance. A. If the City determines, in its sole discretion, that the requirements for GMP Acceptance are fulfilled, the City shall issue a written notice to the Contractor stating the date upon which GMP Acceptance was achieved; or
B. If the City determines, in its sole discretion, that the requirements for GMP Acceptance are not fulfilled, the City shall issue a written notice stating that GMP Acceptance has not occurred.
GMP Acceptance. Upon acceptance of the GMP Proposal by the Owner, both parties shall be obligated to negotiate in good faith the terms and provisions of the GMP Amendment and, upon finalization, execute the same.