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Common use of Condition 5 Clause in Contracts

Condition 5. The escalation of a particular material is significant. The term “significant” herein shall mean when the price of an item increases by 3% or more from the later of the following: (i) the date Judicial Council Accepts the GMP; or (ii) the date that Design Build Entity enters a subcontract with a Subcontractor purchasing the material or a contract with a supplier to furnish that material.

Appears in 3 contracts

Samples: Design Build Services Agreement, Design Build Agreement, Design Build Services Agreement

Condition 5. The escalation of a particular material is significant. The term “significant” herein shall mean when the price of an item increases by 3% or more from the later of the following: (i) the date Judicial Council Accepts approves the GMP; or (ii) the date that Design Build Entity enters a subcontract with a Subcontractor purchasing the material or a contract with a supplier to furnish that material.;

Appears in 1 contract

Samples: Design Build Agreement

Condition 5. The escalation of a particular material is significant. The term “significant” herein shall mean when the price of an item increases by 3% or more from the later of the following: (i) the date Judicial Council Accepts the GMPParties execute the GMP Amendment; or (ii) the date that Design Build Entity XXXX enters a subcontract with a Subcontractor purchasing the material or a contract with a supplier to furnish that material.;

Appears in 1 contract

Samples: Construction Manager at Risk Contract