Contingency (Owner definition

Contingency (Owner s)” means a fund to cover cost growth during the Project used at the discretion of the Owner usually for costs that result from Owner directed changes or unforeseen site conditions. The amount of the Owner’s Contingency will be set by the Owner and will be in addition to the project costs included in the CMAR’s GMP packages. Use and management of the Owner’s Contingency during the construction phase is described in Section 2.7.
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Contingency (Owner s)” means a fund to be used at the discretion of the Owner to cover any increases in Project costs that result from Owner directed changes or unforeseen site conditions. Owner’s Contingency will be added to the GMP amount provided by the D-BE, the sum of which will be the full contract price for construction. Markups for Construction Fee and taxes will be applied by the D-BE at the time that Owner’s Contingency is used. Any Owner Contingency not utilized shall revert to the Owner after Project completion.
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Contingency (Owner s)” means a fund to cover cost growth during the Project used at the discretion of the Owner usually for costs that result from Owner directed changes or unforeseen site conditions. The amount of the Owner’s Contingency will be set by the Owner and will be in
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Examples of Contingency (Owner in a sentence

  • ESCO shall provide Owner with notice of all anticipated charges against the Contingency; Owner will notify ESCO, within ten (10) days of Owner’s receipt of ESCO’s notice of anticipated charges against the Contingency, of any objection of Owner to any ESCO- proposed charges against the Contingency.

  • In accordance with the provisions governing Tenant’s Contingency, Owner may initiate change proposals which shall be processed in accordance with the General Construction Contract.

  • ESCO shall provide Owner with notice of all anticipated charges against the Contingency; Owner will notify ESCO, within ten (10) days of Owner’s receipt of ▇▇▇▇’▇ notice of anticipated charges against the Contingency, of any objection of Owner to any ESCO-proposed charges against the Contingency.