Maximum Construction Cost definition
Examples of Maximum Construction Cost in a sentence
The Owner shall also establish and update the Maximum Construction Cost.
If the aggregate Construction Costs for the Tenant Improvements are greater than Landlord’s Maximum Construction Cost Obligation, then Tenant shall be solely responsible for such additional costs above Landlord’s Maximum Construction Cost Obligation.
Landlord shall only be responsible to Tenant for payment of the Construction Costs for the Tenant Improvements up to the lesser of the (a) actual Construction Costs for the Tenant Improvements, and (b) amount of the Landlord’s Fifth Floor East Wing Premises Allowance (the lesser of (a) and (b) shall be referred to herein as “Landlord’s Maximum Construction Cost Obligation”).
Landlord shall be responsible for the payment of the Actual Construction Cost, whether or not it exceeds the Stipulated Sum or the Maximum Construction Cost.
Upon receipt of each applicable complete payment request by Tenant, Landlord shall pay to Tenant, within twenty-one (21) days after submission of such complete payment request to Landlord, the amount of such request for payment; provided, however, that Landlord’s aggregate obligation to pay for such requests for payment shall in no event exceed Landlord’s Maximum Construction Cost Obligation less any retainage withheld pursuant to the Construction Contract.
Material obligations of the CM under this Agreement are scheduling, coordination and sequencing the activities of the Trade Contractors in a manner so that Project construction is completed in accordance with the Guaranteed Maximum Construction Cost/ Guaranteed Completion Date (GMCC/GCD), as more particularly described herein.
The special conditions to this Agreement include the following: Contract Term Dates: Start Date Final Deliverable of All Services Date Contract Close-Out/Termination Date Basis for the Architect’s Fee: Maximum Allowable Construction Cost (MACC) of $_______, including New Mexico Gross Receipts Tax and 10% of the Maximum Construction Cost in Additive Alternates.
The total cost to construct the ------------------ planned improvements on the Property, including satisfying all of the construction obligations of Landlord under the Lease and of the Buyer under the Purchase Agreement, including, without limitation, the cost of labor and materials, permits and fees (both governmental and professional fees) shall not exceed the Maximum Construction Cost.
Landlord reserves the right to make any payment (or portion thereof) of Landlord’s Maximum Construction Cost Obligation payable jointly to Tenant and the Contractor (or subcontractor or supplier) or directly to the Contractor or any subcontractor or supplier.
Landlord shall only be responsible to Tenant for payment of the Construction Costs for the Additional Premises Tenant Improvements up to the lesser of the (a) actual Construction Costs for the Additional Premises Tenant Improvements for the Sixth Floor East Wing Premises and the Third Floor West Wing Premises, and (b) the amount of the Additional Premises Allowance (the lesser thereof shall be referred to herein as “Landlord’s Maximum Construction Cost Obligation”).