The Guaranteed Maximum Price Sample Clauses

The Guaranteed Maximum Price. (GMP). A GMP will be established in accordance with Section 3, Part 3 of the General Requirements. The GMP may be replaced by a Lump Sum Price as set forth in Article 3.3.7 of the General Requirements.
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The Guaranteed Maximum Price. (GMP) AMENDMENT
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The Guaranteed Maximum Price. Established Upon Execution of this Agreement for Performance of the Project.
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The Guaranteed Maximum Price. 4.1 The Owner, Architect, and Construction Manager shall discuss and reach an agreement as to the extent and degree of completion of final construction drawings and specifications required in order for the Construction Manager to establish and provide a Guaranteed Maximum Price (“GMP”). Within thirty (30) days after receipt from the Architect of final construction drawings and specifications, the Construction Manager shall submit in writing to the Owner and the Architect a Guaranteed Maximum Price for complete construction of the Project in accordance with such drawings and specifications. Said Guaranteed Maximum Price shall include the following: (a) The cost of all labor, equipment, material and supplies necessary for, or utilized in, construction of the Project whether performed or furnished by the Construction Manager, the Trade Contractors, vendors, suppliers or others; (b) the General Conditions costs as set forth in the Construction Manager’s proposal to the Owner and as accepted by the Owner; and, (c) the Construction Manager’s fee as set forth in the Construction Manager’s proposal to the Owner and as accepted by the Owner. It is the intent of this provision that the Guaranteed Maximum Price shall include the complete and total cost of constructing the Project in accordance with all requirements of the Contract Documents. The sum of the cost of the Work, any previously executed Early Work Amendments as provided for by Article 6 of this Agreement, the Construction Manager’s General Conditions, and the Construction Manager’s Fee are guaranteed by the Construction Manager not to exceed the amount provided in the GMP Amendment, subject to additions and deductions by changes in the Work as provided in the Contract Documents. Such maximum sum as adjusted by approved changes in the Work is referred to in the Contract Documents as the Guaranteed Maximum Price. Costs which would cause the GMP to be exceeded shall be paid by the Construction Manager without reimbursement by the Owner. All savings, including unused contingency, if any, shall be returned to the Owner. The CM’s guarantee is of the overall GMP and is not a guarantee of any of the individual line items or components comprising GMP, it being understood that underruns and overruns in particular line items or components of the GMP may be used by the CM to offset each other.
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The Guaranteed Maximum Price. (guaranteeing the maximum price to the Owner for the Cost of the Project and the Construction Manager's Fee) is RM33,500,000. Such Guaranteed Maximum Price will be subject to modification for Changes in the Project as provided in Article 9, and for additional reasonable costs directly arising from delays caused by the Owner. The Guaranteed Maximum Price is made up of the following: Hard Construction Cost - RM30,000,000.00, Soft Construction Cost - RM1,896,000.00, and Construction Manager's Fee - RM1,610,000.00 for a total of RM33,500,000.00.
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The Guaranteed Maximum Price. The sum of the Cost of the Work and the CM/GC’s fee is guaranteed by the CM/GC not to exceed [ ] dollars ($[ ]), subject to additions and deductions by Change Order as provided in the Contract Documents.
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The Guaranteed Maximum Price. 7.6.1 Design-Builder guarantees that it shall not exceed the GMP of Dollars ($ ). Documents used as a basis for the GMP shall be identified in the Contract Price Amendment to this Agreement. Design-Builder does not guarantee any specific line item provided as part of the GMP and has the sole discretion to apply payment due to overruns in one line item to savings due to underruns in any other line item. Design-Builder agrees, however, that it will be responsible for paying all costs of completing the Work which exceed the GMP, as adjusted in accordance with the Contract Documents. (While the Contract Price Amendment will be developed in advance or concurrently with the execution of this Agreement, it is recommended that such exhibit include the items set forth in Section
Sample 1
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The Guaranteed Maximum Price. 7.6.1 Design-Builder guarantees that it shall not exceed the GMP of “To be determined during Phase 1, subject to proposal acceptance and contract amendment.” Dollars ($TBD). Documents used as a basis for the GMP shall be identified in the Contract Price Amendment to this Agreement. Design-Builder does not guarantee any specific line item provided as part of the GMP, and has the sole discretion to apply payment due to overruns in one line item to savings due to underruns in any other line item. Design-Builder agrees, however, that it will be responsible for paying all costs of completing the Work which exceed the GMP, as adjusted in accordance with the Contract Documents.
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The Guaranteed Maximum Price 
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Related to The Guaranteed Maximum Price

  • Guaranteed Maximum Price The anticipated Guaranteed Maximum Price for the Project at the time this Agreement is executed is: Forty Six Million, Twenty Nine Thousand Dollars ($46,029,000)

  • Guaranteed Maximum Price (GMP Construction Manager guarantees that it shall not exceed a Guaranteed Maximum Price (GMP) of Four Million, Six Hundred Thirteen Thousand, Two Hundred Ninety-Three Dollars and Fifty Cents ($4,613,293.50) for the identified Sub-Project.

  • GUARANTEED MAXIMUM PRICE PROPOSAL 7.1 At the conclusion of the Design Development phase the Contractor shall prepare and submit a Guaranteed Maximum Price Proposal to Owner based on the Design Development phase documents and review comments. The GMP shall be delivered to the Owner within three (3) weeks of the Design Development review meeting or a date established by the Owner. The GMP Proposal must be prepared in accordance with the guidelines established by Owner and delivered in the format specified by Owner in Exhibit “E” attached to this Agreement. Owner, at its sole option and discretion, may specify different requirements for the GMP Proposal. Contractor shall not withdraw its Guaranteed Maximum Price Proposal for ninety (90) days following submission to Owner.

  • Guaranteed Maximum Costs The City’s payment obligation to Contractor cannot at any time exceed the amount certified by City’s Controller for the purpose and period stated in such certification. Absent an authorized Emergency per the City Charter or applicable Code, no City representative is authorized to offer or promise, nor is the City required to honor, any offered or promised payments to Contractor under this Agreement in excess of the certified maximum amount without the Controller having first certified the additional promised amount and the Parties having modified this Agreement as provided in Section 11.5, “Modification of this Agreement.”

  • QUANTITY BASIS OF CONTRACT – NO GUARANTEED QUANTITIES The contract established has no guarantee of any specific quantity and the State is obligated only to buy that quantity which is needed by its agencies.

  • No Guaranteed Work Work authorizations are issued at the discretion of the State. While it is the State's intent to issue work authorizations hereunder, the Engineer shall have no cause of action conditioned upon the lack or number of work authorizations issued.

  • Prior Payment of Guaranteed Obligations In any proceeding under any Bankruptcy Law relating to any other Loan Party, each Guarantor agrees that the Secured Parties shall be entitled to receive payment in full in cash of all Guaranteed Obligations (including all interest and expenses accruing after the commencement of a proceeding under any Bankruptcy Law, whether or not constituting an allowed claim in such proceeding (“Post Petition Interest”)) before such Guarantor receives payment of any Subordinated Obligations.

  • No Quantity Guarantees The System Agency makes no guarantee of volume or usage of work under this Contract. All Work requested may be on an irregular and as needed basis throughout the Contract term.

  • Definition of Guaranteed Obligations As used herein, the term “Guaranteed Obligations” means:

  • Limitation on Guaranteed Obligations (a) Notwithstanding any provision herein contained to the contrary, each Guarantor’s liability hereunder shall be limited to an amount not to exceed as of any date of determination the greater of:

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