Common use of Owner’s Contingency Clause in Contracts

Owner’s Contingency. As a part of the Target Value Design, the initial Core Group will establish an acceptable Owner’s Contingency to be used to fund some or all of Owner’s obligations under Article 24. Prior to Substantial Completion, the Owner’s Contingency will not be used without the Core Group’s approval. The Owner’s Contingency will not be part of any IPD Team Risk Pool Plan and any unused amount will be returned 100% to Owner. For clarity, the Owner agrees that it continues to be responsible for funding all of its obligations under Article 24 notwithstanding that the Owner’s Contingency may be exhausted or that the Core Group may not approve the use of Owner’s Contingency for such purpose.