Owner’s Contingency definition
Owner’s Contingency has the meaning set forth in the Common Agreement.
Owner’s Contingency. 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 shall be set solely by the Owner and shall be in addition to the Project costs included in ▇▇▇▇’▇ GMP packages. Use and management of the Owner’s contingency is described in Section 5.3.2.
Owner’s Contingency means a fund to cover cost growth during the Project to be used at the discretion of the City for costs associated with the City’s directed changes, or unforeseen site conditions.
Examples of Owner’s Contingency in a sentence
GC shall not be entitled to any compensation from any unused amounts of the Owner’s Contingency.
The Loan Servicer shall review and approve such calculation of Available Owner’s Contingency and provide a copy thereof to the Borrower and each Equity Contributor.
The GMP in the proposal shall be the sum of ▇▇▇▇'▇ estimate of the Cost of the Work, ▇▇▇▇’▇ Fee, and Owner’s Contingency.
The Owner is under no obligation to increase the value of the Owner’s Contingency beyond the dollar value first established due to adjustments to the Contract Sum by Change Orders.
Except for ▇▇▇▇'▇ Fee stated above, ▇▇▇▇ shall not be entitled to any compensation from the Savings, unused Owner’s Contingency, or otherwise.
More Definitions of Owner’s Contingency
Owner’s Contingency as used in this Agreement shall refer to funds controlled exclusively by the Owner and which are not a part of the GMP. Such funds shall not be considered to be used or held for the benefit of the CMR and are not accessible to the CMR without:
Owner’s Contingency. A Budget Line Item identifying funds to be disbursed -------------------- to Borrower, upon approved request, for the purpose of paying additional, non-required expenses related to the Project. In no event, however, shall Owner's Contingency be available for distribution until Lender is satisfied that the Loan is in balance and sufficient to complete the improvements planned. Payment Guarantor(s): ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, American Leisure Holdings, Inc., a -------------------- Nevada corporation, and TDS Development, LLC, a Florida limited liability company.
Owner’s Contingency means a sum of money included in the GMP which may be expended for the Project only with the prior written authorization of the Administrative Agent.
Owner’s Contingency means a hard cost contingency in the amount of five percent (5%) of the guaranteed maximum price payable to the General Contractor under the Construction Contract. Until the Total Project Costs are finally determined and any Remaining Contingency is applied as set forth in Section 5(b), the Owner’s Contingency may be used only for the payment of the actual, third-party out-of-pocket hard and soft construction costs incurred by Landlord with respect to the construction of the Base Building Improvements. Upon the final determination of the Total Project Costs and the application of any Remaining Contingency as set forth in Section 5(b), Landlord may retain the amount of any remaining Owner’s Contingency.
Owner’s Contingency means that portion of the GMP, which is available for use at the Owner’s discretion to defray additional expenses relative to construction of a project, as well as additional expenses deemed the responsibility of the Owner pursuant to Section 6.2.2.
Owner’s Contingency. As such term is defined in Section 10.3.
Owner’s Contingency means a fund to cover cost growth during the Project used at the discretion of the City usually for costs that result from City’s directed changes or Differing Site Conditions, or as the City may otherwise elect. The amount of the Owner’s Contingency will be set solely by the City and will be in addition to the Project costs included in the Design-Builder’s GMP packages. Use and management of the Owner’s Contingency is described in section 5.3.4.