Common use of Acceptance or Rejection by Owner Clause in Contracts

Acceptance or Rejection by Owner. Owner may accept or reject the Guaranteed Maximum Price Proposal or attempt to negotiate its amount and its terms and conditions with CM. When Owner accepts in writing the GMP Proposal, or a negotiated variant of it, both parties shall execute a Change Order that incorporates the GMP and the supporting documents into this Contract. If the Owner rejects the GMP Proposal or the parties are unable or unwilling to agree on a negotiated variant of it, the Owner may terminate this Contract. If this Contract is terminated for this reason, the Owner shall pay the CM for that portion of the Pre-Construction Phase Services fee as provided in Paragraph 19.2.2 and the Owner shall then have no further duties, responsibilities or financial obligations to the CM. After such a termination of this Contract, the Owner shall be free to abandon or pursue this Project in any manner as it sees fit without any obligation to the CM.

Acceptance or Rejection by Owner. Owner may accept or reject the Guaranteed Maximum Price GMP Proposal or attempt to negotiate its amount and its terms and conditions with CM. When Owner accepts in writing the GMP Proposal, or a negotiated variant of it, both parties shall execute a Change Order that incorporates the GMP and the supporting documents into this ContractAgreement. If the Owner rejects the GMP Proposal or the parties are unable or unwilling to agree on a negotiated variant of it, the Owner may terminate this ContractAgreement. If this Contract Agreement is terminated for this reason, the Owner shall pay the CM for that portion of the Pre-Construction Phase Services fee as provided in Paragraph 19.2.2 and the Owner shall then have no further duties, responsibilities or financial obligations to the CM. After such a termination of this ContractAgreement, the Owner shall be free to abandon or pursue this Project in any manner as it sees fit without any obligation to the CM.