Buyout Savings. (i) If Construction Manager receives bids for portions of the Work which are less than the amounts budgeted in the GMP proposal approved by Owner for such portions of the Work, such buyout savings shall first be utilized to offset shortfalls on other bid packages.
Appears in 14 contracts
Samples: Agreement for Construction Management Services, Agreement for Construction Management Services, Agreement for Construction Management Services
Buyout Savings. (i) If Construction Manager receives bids for portions of the Work which are less than the amounts budgeted in the GMP proposal approved by Owner for such portions of the WorkWork (hereinafter “Buyout Savings”), such buyout savings Buyout Savings shall first be utilized to offset shortfalls on other bid packages, upon Owner approval of a Buyout Savings transfer.
Appears in 2 contracts
Samples: Agreement for Construction Management Services, Agreement for Continuing Construction Management Services
Buyout Savings. (i) If Construction Manager Design/Builder receives bids for portions of the Work which are less than the amounts budgeted in the GMP proposal approved by Owner for such portions of the Work, such buyout savings shall first be utilized to offset shortfalls on other bid packages.
Appears in 2 contracts
Samples: Sample Agreement, facilities.ufl.edu
Buyout Savings. (i) If Construction Manager receives bids for portions of the Work which are less than the amounts budgeted in the GMP proposal approved by Owner for such portions of the Work, such buyout savings shall first be utilized to offset shortfalls on other bid packagesbidpackages.
Appears in 1 contract
Buyout Savings. (ia) If Construction Manager Design/Builder receives bids for portions of the Work which are less than the amounts budgeted in the GMP proposal approved by Owner for such portions of the Work, such buyout savings shall first be utilized to offset shortfalls on other bid packages.
Appears in 1 contract
Samples: With Guaranteed Maximum Price
