Common use of Assignment Upon Failure to Reach GMP Clause in Contracts

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.

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 Architect/Engineer 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.

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 Architect shall only be entitled to earn fifty ninety percent (5090%) of the Preconstruction Feefees earned by the Architect through the date of termination.

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 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.