Guaranteed Maximum Price definition

Guaranteed Maximum Price or “GMP” means the amount proposed by Contractor and accepted by Owner as the maximum cost to Owner for construction of the Project in accordance with this Agreement. The GMP includes Contractor’s Construction Phase Fee, the General Conditions Cost, the Cost of the Work, and Contractor’s Contingency amount.

Guaranteed Maximum Price means the maximum amount payable to the Contractor for the performance of the Work under a GMP Contract.

Guaranteed Maximum Price or “GMP”: The maximum price that the Judicial Council will pay DBE for construction of the Project.

Examples of Guaranteed Maximum Price in a sentence

• Where the Contract is based on a stipulated sum or Guaranteed Maximum Price (“GMP”), the Contractor shall submit to the Owner and Architect, before the first Application for Payment, a schedule of values allocating the entire Contract Sum to the various portions of the Work and prepared in such form and supported by such data to substantiate its accuracy as the Owner may require.

• The Contractor hereby submits to The Board of Regents of The Texas A&M University System, pursuant to the provisions of Article 7 of the Agreement by and between the Board of Regents of The Texas A&M University System and Contractor the following Guaranteed Maximum Price Proposal for the [Project Name], Project No. [Project Number], based on Plans and Specifications dated [Date on Drawings Month Day, Year].

• Solutionwerks and the City will then meet to review and determine the final scope of rehabilitation work to be performed and the associated Guaranteed Maximum Price.

• Contractor shall not withdraw its Guaranteed Maximum Price Proposal for ninety (90) days following submission to Owner.

• Meet with the City to review and determine the final scope of rehabilitation work to be performed and the associated Guaranteed Maximum Price.

More Definitions of Guaranteed Maximum Price

Guaranteed Maximum Price or “GMP” means the Guaranteed Maximum Price established pursuant to Article 5 of the CSA to be paid to Lessor for Lessor’s construction of the Project hereunder, subject to any adjustments for Extra Work/Modifications as provided in Article 17 of the CSA.

Guaranteed Maximum Price and/or “GMP” means the maximum amount payable to the Contractor for the performance of the Work under a GMP Contract as more fully defined in the Agreement. This term is not relevant for contracts that are not GMP Contracts.

Guaranteed Maximum Price means the maximum amount a construction manager

Guaranteed Maximum Price means the cost of the work as defined in the contract.

Guaranteed Maximum Price or “GMP” means the Guaranteed Maximum Price established pursuant to Section 4 of the Construction Services Agreement, consisting of the combined "Tenant Improvement Payments" and "Sublease Payments" as such terms are defined in Exhibit "C" of this Sublease. Exhibit "C" of this Sublease will be revised in accordance with Section 4 of the Construction Services Agreement to reflect the final GMP after the completion of preconstruction services and DSA approval of the plans and specifications, prior to commencement of construction on the Project.

Guaranteed Maximum Price means the maximum amount that a design-builder,

Guaranteed Maximum Price. (“GMP”) means the amount proposed by Construction Manager and accepted by Owner as the maximum cost to Owner for construction of the Work in accordance with the Contract Documents, subject to (i) any Change Orders (as defined in the UGCs), or amendments to the GMP. The GMP does not include the Pre-Construction Phase Fee. Any costs and expenses exceeding the GMP (as changed or amended upon by agreement of the parties) shall be the obligation solely of CMR.