Common use of CONTRACT TIME AND LIQUIDATED DAMAGES Clause in Contracts

CONTRACT TIME AND LIQUIDATED DAMAGES. A. Time is of the essence in the performance of the Work under this Agreement. The " Design Phase Commencement Date" shall be established in a Notice to Proceed to be issued by Owner. Construction Manager shall commence the Design Phase Services portion of the Work within five (5) calendar days after the Design Phase Commencement Date. Any Work performed by Construction Manager prior to the Design Phase Commencement Date shall be at the sole risk of Construction Manager. The " Construction Phase Commencement Date" shall be established in a Notice to Proceed to be issued by Owner after the Construction Documents have been completed by the Design Professional and accepted by the Owner. Construction Manager shall commence the Construction Phase Services portion of the Work within five (5) calendar days after the Construction Phase Commencement Date. No portion of the Work, with respect to the Construction Phase Services to be provided hereunder, shall be performed prior to the Construction Phase Commencement Date, unless expressly approved in advance by Owner in writing. The total period of time beginning with the Construction Phase Commencement Date and ending on the date of Substantial Completion of the Work is referred to hereafter as the " Contract Time" . The Contract Time shall be mutually agreed upon by Owner and Construction Manager, with both parties signifying their approval by executing Amendment Number 1, a form of which is attached hereto as Exhibit K.