TFC Controlled Contingency Sample Clauses
The TFC Controlled Contingency clause establishes a specific fund or budget set aside to address unforeseen costs or changes that may arise during a project, with control over its use retained by TFC (Texas Facilities Commission). In practice, this means that any expenditures from the contingency fund require TFC’s review and approval, ensuring that only justified and necessary changes are covered. This clause helps manage financial risk by providing a structured process for handling unexpected expenses, thereby maintaining budget discipline and oversight throughout the project.
TFC Controlled Contingency. The TFC Controlled Contingency of Two Million and No/100 Dollars ($2,000,000.00), which sum shall be maintained through construction, and included in the Contract Sum and finalized in the GMP Acceptance.
TFC Controlled Contingency. The TFC Controlled Contingency of Two Million Eight Hundred Thousand Six Hundred Seven and No/100 Dollars ($2,800,607.00), which sum shall be maintained through construction, and, shall be included in the Contract Sum and the GMPs , but CMR shall not use such funds unless and until TFC elects to use, apply, or otherwise credit such funds to pay for a change in the Work as a Cost of Work that is not the responsibility of CMR, or due to the fault or negligence of CMR, and which change has been Approved by Owner by Change Order or directed by Owner in a Unilateral Change Order. The TFC Controlled Contingency is part of the Total Project GMP.
TFC Controlled Contingency. TFC Controlled Contingency means that portion of the Contract sum that will be designated by TFC in the GMP Acceptance for its exclusive use and benefit for the Project.
TFC Controlled Contingency. The TFC Controlled Contingency of [Insert Dollar Amount] and No/100 Dollars ($[Insert Numerical Dollar Amount]), which sum shall be maintained through construction, and included in the Contract Sum and finalized in the GMP Acceptance.
TFC Controlled Contingency. The GMP Proposal will include a separate line items for the TFC Controlled Contingency, the amount of which shall be determined by TFC in its sole and absolute discretion. No part of the TFC Controlled Contingency shall be used by CMR or included in the GMP unless TFC elects to do so by Change Order and then only with respect to that portion of the TFC Controlled Contingency funds that are actually used for a TFC-directed change to the Work.
TFC Controlled Contingency. The TFC Controlled Contingency of
TFC Controlled Contingency. The GMP Proposal will include a separate line items for the TFC Controlled Contingency, the amount of which shall be determined by TFC in its sole and absolute discretion. No part of the TFC Controlled Contingency shall be used by CMR or included in the GMP unless TFC elects to do so by Change Order and then only with respect to that portion of the TFC Controlled Contingency funds that are actually used for a TFC-directed change to the Work. As of the Effective Date of this Agreement, the TFC Controlled Contingency shall not exceed Two Hundred Forty-Three Thousand Two Hundred Fifty and No/100 Dollars ($243,250.00).
TFC Controlled Contingency. The TFC Controlled Contingency of One Hundred Twenty-Nine Thousand Four Hundred Eighty-Four and No/100 Dollars ($129,484.00), which sum shall be maintained through construction, and included in the Contract Sum and finalized in the GMP Acceptance.”
5. The Parties agree to amend ARTICLE VI – ACKNOWLEDGEMENTS, COVENANTS, AND AGREEMENTS, Section 6.2, Acknowledgements, Covenants, and Agreements of CMR, as follows.
(a) Subsection 6.2.18, Prohibition Against Boycotting Israel, is deleted in its entirety and replaced with Subsection 6.2.18, as follows.
TFC Controlled Contingency. The GMP Proposal will include a separate line items for the TFC Controlled Contingency, the amount of which shall be determined by TFC in its sole and absolute discretion. No part of the TFC Controlled Contingency shall be used by CMR or included in the GMP unless TFC elects to do so by Change Order and then only with respect to that portion of the TFC Controlled Contingency funds that are actually used for a TFC-directed change to the Work. At Contract execution the TFC Controlled Contingency is in the amount of Seventy-Five Thousand and No/100 Dollars ($75,000.00).
TFC Controlled Contingency. The DB’s Proposal will include a separate line items for the TFC Controlled Contingency, the amount of which shall be determined by TFC in its sole and absolute discretion. No part of the TFC Controlled Contingency shall be used by DB or included in the GMP unless TFC elects to do so by Change Order and then only with respect to that portion of the TFC Controlled Contingency funds that are actually used for a TFC-directed change to the Work.