GMP Contract definition

GMP Contract means each of the guaranteed maximum price contracts to be entered into with the General Contractor for portions of the Work.
View Source
GMP Contract shall have the meaning ascribed in Section 5.12.2.
View Source
GMP Contract shall have the meaning set forth in the Development Agreement.
View Source

Examples of GMP Contract in a sentence

  • Such maximum sum as adjusted by approved changes in the Work is referred to in the Contract Documents as the GMP Contract Sum.

  • The cost of such other forces, materials and/or equipment will be deducted by the Owner from the GMP Contract Sum.

  • The Design-Builder certifies that the wage rates and other factual unit costs supporting the compensation described herein are accurate, complete and current as of the date of this Contract and that the original compensation and any additions thereto will be adjusted to exclude any significant sums where the Owner determines the GMP Contract Sum amount was increased due to inaccurate, incomplete or non-current wage rates and other factual unit costs.

  • If such proceeds of sale do not cover costs which the Design-Builder should have borne, the GMP Contract Sum will be reduced by the deficiency.

  • If the unpaid balance of the GMP Contract Sum exceeds the cost of finishing the Work, including any and all additional costs and expenses to the Owner, such excess to the extent earned will be paid to the Design-Builder and/or Design-Builder’s Surety.

  • Should the unpaid portion of the GMP Contract Sum be insufficient to cover all such costs incurred by Owner, Design-Builder will pay such insufficient amount to Owner within five (5) business days of Owner’s demand for payment.

  • The Owner may adjust the GMP Contract Sum for reasonable increases in the direct cost of performance of the Work (excluding profit) necessarily caused by such suspension, delay or interruption.

  • Contractor agrees that the fee for the Project, as defined in the Contract and General Conditions, shall be percent ( %) of all Direct Costs of Construction, as defined in the GMP Contract, and that General Conditions shall not exceed percent ( %) of the Direct Costs of Construction per month, unless approved by Owner, as set forth on Exhibit 4 hereto.

  • Within 10 calendar days after award of each Contract GMP, the successful ▇▇▇▇ shall furnish a Faithful Performance Bond and a Labor and Material Payment Bond, each in an amount equal to 100% of the GMP Contract Price, issued by a surety in accordance with the requirements of the General Conditions of the Contract.

  • Design-Builder waives any right to adjustment of the GMP, Contract Time, or Project Schedule, or to payment of any kind for changed Work, if it fails to timely satisfy the notice, analysis, and other requirements pertaining to RFI’s, ITC’s, PCO’s, and Change Orders set forth herein.


More Definitions of GMP Contract

GMP Contract means the construction contract entered into between Landlord and the GMP Contractor on the basis of a guaranteed maximum price for the performance of the Tenant Improvement Work. Unless Tenant signs as the “Owner” for purposes of the GMP Contract, the GMP Contract will contain a provision conditionally assigning to Tenant in the event of Landlord’s default and entitling Tenant to assume Landlord’s rights and obligations as Owner in the event Landlord defaults in its obligations to complete the Tenant Improvement Work as set forth in Section 5 of this Exhibit C. Such rights shall be subject and subordinate to Landlord’s lender’s rights to assume and perform the GMP Contract.
View Source
GMP Contract means the guarantee maximum price contract(s) for the construction of the City Facilities and/or the Hotel and Restaurant.
View Source
GMP Contract means that certain Core and Shell Guaranteed Maximum Price Contract, dated September 15, 2011, between H▇▇▇▇▇ ▇▇▇▇▇▇▇ Construction Group LLC and Seller, as amended from time to time.
View Source
GMP Contract. Line Item Category with respect to the applicable Project in the Summary Anticipated Cost Report for such Project.
View Source
GMP Contract means that certain Owner-Contractor Agreement dated as of December 24, 2003 between Premier and the General Contractor, as amended by that certain First Amendment to Agreement between Owner and Contractor dated as of January 22, 2004.
View Source
GMP Contract means the guaranteed maximum price construction contract for the construction of the Ballpark.
View Source

Related to GMP Contract

  • sub-contract means the primary contractor’s assigning, leasing, making out work to, or employing, another person to support such primary contractor in the execution of part of a project in terms of the contract;

  • Project Contract means any Contract, excluding this Agreement and, as and when executed, the Ancillary Agreements [reserved], to which Seller is a party, or by which Seller or any of the Project Assets is bound, that relates to or has the primary purpose of supporting the Work or the Project, including, for the avoidance of doubt, any Contract pursuant to which Seller or any of its Affiliates is granted a real property or other interest in the Project Site (in whole or in part) or is licensed or granted the right to use, or holds or possesses, any Project Intellectual Property Rights.

  • Group contract means a contract for health care services which by its terms limits eligibility to members of a specified group. The group contract may include coverage for dependents.

  • EPC Contract means the Seller’s engineering, procurement and construction contract with the EPC Contractor.

  • Storage Contract means the contract described in paragraph 8.3.3 of the Conditions of Business or paragraph