Common use of Adjustments to Construction Contingency Clause in Contracts

Adjustments to Construction Contingency. The contingency costs incurred by Design-Builder under Article 4.4.5 shall be reimbursable to Design-Builder from the Construction Contingency. The amount of the Construction Contingency shall be increased by the net amount of (i) the aggregate by which Trade Contracts entered by Design-Builder are less than line item amounts stated in Design-Builder's construction budget for each particular Trade Contract less (ii) the aggregate amount by which Trade Contracts entered by Design-Builder exceeds the line item amount stated in Design-Builder's construction budget for each particular Trade Contract. All net amounts saved, if any, shall be added to the existing Construction Contingency amount and shall be available for all purposes permitted under Article 4.4.5. Funds from the Construction Contingency may be encumbered by the Design- Builder without written direction from the Owner, provided that Owner shall approve, on a quarterly basis, the accounting for the Construction Contingency, which approval shall not be unreasonably withheld.

Adjustments to Construction Contingency. The contingency costs incurred by Design-Builder under Article Section 4.4.5 shall be reimbursable to Design-Builder from the Construction Contingency. The amount of the Construction Contingency shall be increased by the net amount of (i) the aggregate by which Trade Contracts entered by Design-Builder are less than line item amounts stated in Design-Builder's construction budget for each particular Trade Contract less (ii) the aggregate amount by which Trade Contracts entered by Design-Builder exceeds the line item amount stated in Design-Builder's construction budget for each particular Trade Contract. All net amounts saved, if any, shall be added to the existing Construction Contingency amount and shall be available for all purposes permitted under Article Section 4.4.5. Funds from the Construction Contingency may be encumbered by the Design- Builder without written direction from the Owner, provided that Owner shall approve, on a quarterly basis, the accounting for the Construction Contingency, which approval shall not be unreasonably withheld. With prior written approval of Owner, Design-Builder may have access to Construction Contingency for general conditions items, which shall not be unreasonably withheld.

Adjustments to Construction Contingency. The contingency costs incurred by Design-Builder under Article Section 4.4.5 shall be reimbursable to Design-Builder from the Construction Contingency. The amount of the Construction Contingency shall be increased by the net amount of (i) the aggregate by which Trade Contracts entered by Design-Builder are less than line item amounts stated in Design-Builder's construction budget for each particular Trade Contract less (ii) the aggregate amount by which Trade Contracts entered by Design-Design- Builder exceeds the line item amount stated in Design-Builder's construction budget for each particular Trade Contract. All net amounts saved, if any, shall be added to the existing Construction Contingency amount and shall be available for all purposes permitted under Article Section 4.4.5. Funds from the Construction Contingency may be encumbered by the Design- Builder without written direction from the Owner, provided that Owner shall approve, on a quarterly basis, the accounting for the Construction Contingency, which approval shall not be unreasonably withheld. With prior written approval of Owner, Design-Builder may have access to Construction Contingency for general conditions items, which shall not be unreasonably withheld.