Affiliated Entity Transaction Clause Samples

Affiliated Entity Transaction. 1 If any of the costs to be reimbursed arise from a transaction between the Construction Manager and an Affiliated Entity, the Construction Manager shall notify the Authority of the specific nature of the contemplated transaction, including the identity of the Affiliated Entity and the anticipated cost to be incurred, before any such transaction is consummated or cost incurred. If the Authority, after such notification, authorizes the proposed transaction, then the cost incurred shall be included as a Cost of the Work to be reimbursed, and the Construction Manager shall procure the Work, equipment, goods or service from the Affiliated Entity, as a Subcontractor or Supplier. If the Authority fails to authorize the transaction, the Construction Manager shall procure the Work, equipment, goods or service from some Person other than an Affiliated Entity.