Construction Services Fee definition

Construction Services Fee. Under the Prior Agreement, WCM was entitled to a construction management fee equal to 10% of all soft and hard costs of any work performed to prepare tenant space for occupancy. Under the New Management Agreement, there is no construction management fee. SUBORDINATION OF FEE: Under the Prior Agreement, WCM was required to use revenue from the Property to pay, in full, amounts due all third party creditors of Property prior to paying any amounts due WCM. Under the New Management Agreement, WCM is entitled to use such revenue to pay such amounts due creditors and amounts due WCM on a pro rata basis. AUDIT: Under the Prior Agreement, if an audit by CWOP of the books, records and files which WCM maintained for CWOP revealed an error or discrepancy of more than $200,000, WCM was required to pay the first $10,000 of the cost of the audit. Under the New Management Agreement, if any such audit reveals error or discrepancies in excess of 4% of the amount audited, WCM is required to pay the entire cost of the audit. LEASING PARAMETERS: Under the Prior Agreement, all leases were subject to CWOP's approval prior to submission to a proposed tenant for execution. In addition, WCM was required to notify CWOP of all leasing meetings, discussions and negotiations to allow for CWOP's participation in such meetings. Under the New Management Agreement, WCM is required to use a standard lease, the form of which will be attached to the agreement and may, without the prior approval of Jamboree LLC, execute, on behalf of Jamboree LLC, the following leases (or amendments and renewals thereof):
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Construction Services Fee shall have the meaning ascribed to the term “Construction Services Fee” in the Property Management Agreement.
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Examples of Construction Services Fee in a sentence

  • The Contract Sum is the (i) Cost of Work as provided in Article 8 herein, plus (ii) CMR’s Preconstruction Services Fee, plus (iii) CMR’s Construction Services Fee, plus General Conditions Costs, all of which CMR represents and guarantees that, when aggregated, shall not exceed the Guaranteed Maximum Price set forth in the GMP Amendment.

  • The CMR shall not be entitled to any increase in its Construction Services Fee for increases to allowance amounts that were initially based on estimates provided by the CMR.

  • No CMR Construction Services Fee will be allowed or paid on General Conditions Costs.

  • The CMR’s Construction Services Fee is the maximum amount payable to the CMR for any cost or profit expectation incurred in the performance of the Work that is not specifically identified as being eligible for reimbursement by TFC elsewhere in this Agreement.

  • The Guaranteed Maximum Price may be increased (or decreased, as the case may be) for any changes to General Conditions for management of any such changed scope of Work and resulting increase to the Cost of Work, and CMR shall be entitled to the Construction Services Fee thereon.

  • CMR’s Construction Services Fee, General Conditions Costs, and CMR Contingency shall, in addition to the requirements of UGC Section 10.1, be shown as a separate line items on the Schedule of Values and on each monthly Application for Payment.

  • References in the UGC to CMR’s “overhead” and “profit” shall mean the CMR’s Construction Services Fee.

  • The Owner shall pay, and the Construction Manager shall accept, as full and complete payment for the Construction Manager’s timely and complete performance of Pre-Construction Services, the Pre- Construction Services Fee.

  • The GMP shall equal the total of all agreed upon Subcontractor Bids plus the Contractor’s agreed upon Construction Services Fee (General Conditions, Overhead, Profit, Project Management, Internal Equipment and Staffing, Insurance, etc.).

  • Upon execution of the Change Order for Construction, and subject to the qualifications and assumptions the Construction Manager / General Contractor guarantees that the sum of the Cost of the Work and the CM/GC Construction Services Fee shall not exceed the GMP, except as adjusted by Change Order.