Assignment Upon Failure to Reach GMP Sample Clauses

Assignment Upon Failure to Reach GMP. In the event that the Department and the Design-Builder are unable to agree upon a GMP, the Department shall have the right to terminate this Agreement, and if requested by the Department, the Design-Builder shall assign any trade Subcontracts and its agreement with the Architect to the Department upon such terms and conditions and at the time requested by the Department. In such event, the Design-Builder shall only be entitled to earn fifty percent (50%) of the Preconstruction Fee.
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Assignment Upon Failure to Reach GMP. In the event that the Department and the Contractor are unable to agree upon a GMP, the Department shall have the right to terminate this Agreement, and if requested by the Department, the Contractor shall assign any trade Subcontracts to the Department upon such terms and conditions and at the time requested by the Department. In such event, the Contractor shall forfeit fifty percent (50%) of the Preconstruction Fee.
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Assignment Upon Failure to Reach GMP. In the event that the Department and the Design-Builder are unable to agree upon a GMP, the Department shall have the right to terminate this Agreement, and if requested by the Department, the Design-Builder shall assign any trade Subcontracts and its agreement with the Architect to the Department upon such terms and conditions and at the time requested by the Department. In such event, the Design-Builder shall forfeit fifty percent (50%) of the Preconstruction Fee, and the Architect shall only be entitled to earn ninety percent (90%) of the fees earned by the Architect through the date of termination.
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Related to Assignment Upon Failure to Reach GMP

  • Failure to Remedy If Contractor does not remedy a defect or nonconformity within ten (10) calendar days after receipt of written notice from Purchaser, or if an emergency exists rendering it impossible or impractical for Purchaser to have Contractor provide a remedy, Purchaser may, without prejudice to any other rights or remedies available to it, make or cause to be made required modifications, adjustments, or repairs, or may replace Services, or IT Services, in which case Contractor shall reimburse Purchaser for its actual costs or, at Purchaser’s option, Purchaser will offset the costs incurred from amounts owing to Contractor.

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