Common use of Pricing Amendment Clause in Contracts

Pricing Amendment. If Owner approves a Final Design Deliverable in accordance with Section 5.10 above, Design-Builder shall prepare Pricing Amendment Documents, which shall include Work that shall be priced, scheduled, and included in the Contract Documents, as an Alternate, and Work that shall be priced, scheduled, and included in the Contract Documents, as an Allowance. The Alternate Schedule shall include the required start dates for each Alternate, and the sequencing priority of implementing each Alternate. 5.11.1 By including an Allowance in Pricing Amendment Documents, Design-Builder represents and warrants it is a reasonable estimate of the costs of the Work of such Allowance, based on Design-Builder’s best skill and judgment, based on the other Pricing Amendment Documents that are sufficiently detailed to make such an estimate. Each Alternate’s and Allowance’s pricing shall remain valid from the date the applicable Pricing Amendment is fully-signed through the date of Final Completion of the applicable Deliverable Portion of Work containing each such Alternate or Allowance unless, in the case of an Allowance, Design-Builder develops a final price for that portion of the Work included in such Allowance, in which case that final price shall remain valid through the date of Final Completion of the applicable Deliverable Portion of Work. 5.11.2 In accordance with the Project Schedule and based upon the approved Final Design Deliverable and the Estimated Pricing Amendment Sum, Design-Builder shall deliver to Owner Parties for review, comment, and approval its proposed Pricing Amendment, supporting Pricing Amendment Documents, and its Work plan, for the applicable Deliverable Portion of Work. 5.11.3 Upon Owner’s approval and the Parties’ signatures, a proposed Pricing Amendment shall amend this Agreement, and shall be revised only by Change Order. 5.11.4 Notwithstanding anything to the contrary contained in the Contract Documents, Owner shall not be required to enter into any Pricing Amendment and, unless and until the Parties enter into a Pricing Amendment, Design-Builder’s rights, including to payment, under the Contract Documents, shall be limited to only its completed Work, including completed Early Work set forth in an Early Work Amendment.