Final GMP definition

Final GMP means the absolute not-to-exceed limit, or guaranteed maximum price, for the cost of the Stadium Project Improvements Work for the Stadium Project as agreed to by the Authority, StadiumCo and CM at Risk pursuant to the Construction Contract
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Final GMP means the amount to be established as the Guaranteed Maximum Price for the Project after completion of the Design Phase, as set forth in Article IX.
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Examples of Final GMP in a sentence

  • The Payment Bond, once obtained, shall be attached to this Construction Services Agreement as Exhibit “C.” In the event the Final GMP is increased in accordance with the provisions set forth in Section 9 above, the Contractor must increase the Payment Bond to equal the revised GMP.

  • In no event shall the sum of the Sublease Payments, Sublease Prepayments and retention exceed the Final GMP.

  • The Faithful Performance Bond shall be for One Hundred Percent (100%) of the Final GMP for the Project to guarantee faithful performance of all work, within the time prescribed, in a manner satisfactory to the District, and that all materials and workmanship shall be free from original or developed defects.

  • At the completion of the Project, the Final GMP shall not include unused Contingency, Sales Tax Savings, or Owner-direct purchases.

  • Accordingly, the parties agree and acknowledge that there shall be no adjustment to the Final GMP, as defined below, for errors and omissions made by the Architect and its consultants, or any later discovered conditions related thereto, that could have or should have been identified by Contractor during the performance of Contractor’s duty to review the Construction Documents for value engineering opportunities and for constructability.

  • The Final GMP shall be subject to adjustments for Extra Work/Modifications in accordance with the provisions of Section 9 and adjustments for reductions in the Scope of Work pursuant to the provisions of Section 4(B), below.

  • If additional review or permits become necessary for reasons not due to Contractor's fault or because of DSA requirements or regulations implemented after the date the Final GMP is established and not reasonably anticipated at the time the Final GMP is established, Contractor may seek additional compensation for the cost of that review as an additional cost.

  • The Payment Bond shall be for One Hundred Percent (100%) of the Final GMP of the Project, to satisfy claims of materials suppliers and of mechanics and laborers employed on the Project.

  • The Estimated GMP includes, and the Final GMP shall include, the cost of all labor, materials, equipment, general conditions, overhead, profit and Contractor contingency in an amount to be negotiated upon the finalization of the GMP.

  • The Estimated GMP shall be subject to modification when the Construction Documents are finalized and approved by the Division of the State Architect ("Final GMP").

Related to Final GMP

  • Non-Participating Certified Clinical Nurse Specialist means a Certified Clinical Nurse Specialist who does not have a written agreement with the Claim Administrator or another Blue Cross and/or Blue Shield Plan to provide services to you at the time services are rendered.

  • Goods Specification means any specification for the Goods, including any related plans and drawings that are set out by the Authority to the Supplier.

  • Class specification means a formal written statement of the class which defines the general character and scope of the duties and responsibilities of positions in the class, lists typical or illustrative examples of work of positions in the class, enumerates the knowledge, skills and abilities required for successful performance of the work and states required minimum experience and training for positions in the class.

  • EPC Contractor means Seller’s engineering, procurement and construction contractor or such Person performing those functions.

  • Participating Certified Clinical Nurse Specialist means a Certified Clinical Nurse Specialist who has a written agreement with the Claim Administrator or another Blue Cross and/or Blue Shield Plan to provide services to you at the time services are rendered.