Adjustments to Guaranteed Maximum Price or Contract Time Sample Clauses

Adjustments to Guaranteed Maximum Price or Contract Time. Upon the occurrence of a change order for Construction Work as set forth in Paragraph 16(A) hereinabove which increases the Cost of the Construction Work, the Guaranteed Maximum Price will thereafter include such Cost of the Construction Work and Services attributable to such change to the extent allowed by Paragraph 10(B) hereinabove. The failure of Design/Builder to provide notice in writing to Owner in accordance with Paragraph 16(B) of any request for an increase in the Guaranteed Maximum Price or for an extension of the Contract Time shall constitute a waiver by Design/Builder of any entitlement thereto.
Sample 1Sample 2Sample 3See All (4)
AutoNDA by SimpleDocs
Adjustments to Guaranteed Maximum Price or Contract Time. Upon the occurrence of a change as set forth in Subsection 7.1 hereinabove which increases the Cost of the Work or Professional Services, the Contract Price will thereafter include such Cost of the Work and Services attributable to such change. Any extension of the Contract Time requested by Firm for performance of any change in the Work ordered by XXX may be granted by mutual agreement and then set forth in the Change Order. Otherwise, extensions of the Contract Time must be requested by Firm pursuant to the terms and conditions of Section 7 of this Agreement, and any such request for extension of the Contract Time shall be subject to Subsection 7.7 of this Agreement. The failure of Firm to provide notice in writing to CID in accordance with Section 8 of this Agreement of any request for an increase in the Contract Price or for an extension of the Contract Time shall constitute a waiver by Firm of any entitlement thereto.
Sample 1

Related to Adjustments to Guaranteed Maximum Price or Contract Time

  • Guaranteed Maximum Price The anticipated Guaranteed Maximum Price for the Project at the time this Agreement is executed is: Fifty Million, Six Hundred Four Thousand, Eight Hundred Fifty-Five and no/100 Dollars ($ 50,604,855.00);

  • Guaranteed Maximum Price (GMP Construction Manager guarantees that it shall not exceed a Guaranteed Maximum Price (GMP) of Eight Hundred Thirty Thousand, Two Hundred Twenty Dollars and Forty-Five Cents ($830,220.45) for the identified Sub-Project.

  • Basis of Guaranteed Maximum Price The Design-Builder shall include with the GMP Proposal a written statement of its basis, which shall include:

  • Guaranteed Maximum Costs The City’s payment obligation to Contractor cannot at any time exceed the amount certified by City’s Controller for the purpose and period stated in such certification. Absent an authorized Emergency per the City Charter or applicable Code, no City representative is authorized to offer or promise, nor is the City required to honor, any offered or promised payments to Contractor under this Agreement in excess of the certified maximum amount without the Controller having first certified the additional promised amount and the Parties having modified this Agreement as provided in Section 11.5, “Modification of this Agreement.”

  • PAYMENT AND CONTRACT PRICE C1 Contract Price C2 Payment and VAT C3 Recovery of Sums Due C4 Contract Price During Extension of the Initial Contract Period C5 Euro

  • GUARANTEED MAXIMUM PRICE PROPOSAL 7.1 At the conclusion of the Design Development phase the Contractor shall prepare and submit a Guaranteed Maximum Price Proposal to Owner based on the Design Development phase documents and review comments. The GMP shall be delivered to the Owner within three (3) weeks of the Design Development review meeting or a date established by the Owner. The GMP Proposal must be prepared in accordance with the guidelines established by Owner and delivered in the format specified by Owner in Exhibit “E” attached to this Agreement. Owner, at its sole option and discretion, may specify different requirements for the GMP Proposal. Contractor shall not withdraw its Guaranteed Maximum Price Proposal for ninety (90) days following submission to Owner.

  • THE CONTRACT PRICE A. This Contract is an indefinite-quantity contract for construction work and services. The Estimated Annual Value of this Contract is $2,000,000. This is only an estimate and may increase or decrease at the discretion of Sourcewell.

  • Contract Price Adjustment The basis upon which the Contract Price shall be adjusted is as set out in paragraph 9.2 of Schedule IVB.

  • C1 Contract Price C1.1 In consideration of the Contractor’s performance of its obligations under the Contract, the Authority shall pay the Contract Price in accordance with clause C2 (Payment and VAT).

  • Contract Prices All Contract prices set forth in this Section include all costs necessary to complete the work for which the price is established (e.g., Base Contract, Unit Price, Options) in accordance with the Contract Documents, including, but not limited to, the cost of work performed by subcontractors and consultants, indirect costs, fees, expenses, taxes, and profit.

Time is Money Join Law Insider Premium to draft better contracts faster.