Common use of Adjustments to the GMP Clause in Contracts

Adjustments to the GMP. When adjustments to the GMP are necessary, TFC may, in its sole discretion, either fund the Work through a no-cost Change Order and transfer of funds from the TFC Controlled Contingency, or adjust the Guaranteed Maximum Price through a Change Order. The Guaranteed Maximum Price may be increased (or decreased, as the case may be) for any changes to General Conditions for management of any such changed scope of Work and resulting increase to the Cost of Work, and CMR shall be entitled to the Construction Services Fee thereon. CMR must account to TFC when CMR uses, applies, or otherwise debits the CMR Contingency. Furthermore, CMR may not add, charge or collect any additional fees, or xxxx-ups for overhead and profit as described in UGC Section 11.8.2, for any subcontracted Work for which CMR elects to use, apply, or otherwise debit the CMR Contingency.

Adjustments to the GMP. When adjustments to the GMP are necessary, TFC may, in its sole discretion, either fund the Work through a no-cost Change Order and transfer of funds from the TFC Controlled Contingency, or adjust the Guaranteed Maximum Price through a Change Order. The Guaranteed Maximum Price may be increased (or decreased, as the case may be) for any changes to General Conditions for management of any such changed scope of Work and resulting increase to the Cost of Work, and CMR shall be entitled to the Construction Services Fee thereon. CMR must account to TFC when CMR uses, applies, or otherwise debits the CMR Contingency. Furthermore, CMR may not add, charge or collect any additional fees, or xxxxmark-ups for overhead and profit as described in UGC Section 11.8.2, for any subcontracted Work for which CMR elects to use, apply, or otherwise debit the CMR Contingency.

Adjustments to the GMP. When adjustments to the GMP are necessary, TFC may, in its sole discretiondiscretion or upon recommendation from PMP, either fund the Work through a no-cost Change Order and transfer of funds from the TFC Controlled Contingency, Contingency or adjust the Guaranteed Maximum Price through a Change Order. The Guaranteed Maximum Price may be increased (or decreased, as the case may be) for any changes to General Conditions for management of any such changed scope of Work and resulting increase to the Cost of Work, and CMR shall be entitled to the Construction Services Fee thereon. CMR must account to PMP and TFC when CMR uses, applies, or otherwise debits the CMR Contingency. Furthermore, CMR may not add, charge or collect any additional fees, or xxxxmark-ups for overhead and profit as described in UGC Section 11.8.2, for any subcontracted Work for which CMR elects to use, apply, or otherwise debit the CMR Contingency.