Contractor’s Contingency. 11.3.1 The Guaranteed Maximum Price Proposal shall include a Contractor’s Contingency amount to be used to fund increases in the Direct Construction Cost of the Project identified through the refinement, development and completion of the Construction Documents or procurement of the Work.
Contractor’s Contingency. The TI Construction Contract shall be a Guaranteed Maximum Price contract and may upon Tenant’s approval, which shall not be unreasonably withheld, conditioned or delayed, include a contractor’s contingency for the Contractor’s use to cover increased costs resulting from further development of the plans and specifications and other items, which are properly reimbursable to Landlord as a cost of Landlord’s Work but are not the subject of a change order. The Contractor will be required to inform Landlord and Tenant of its use of said contingency. The status of said contingency and the record of use of said contingency shall be submitted monthly with each application for payment. The monthly requisition is to be fully substantiated and provided to Tenant for review and approval. Information required within each requisition must include: • An application for payment and sworn statement of Contractor substantially in the form of AIA Document G-702 covering all work for which disbursement is to be made to a date specified therein. • Included with each application for payment, Contractor will include a Work-in-Progress report (“WIP”) for the month being invoiced. The WIP report will show all individual cost items that make up the application for payment including a breakdown of Contractor’s own labor showing hours, rates, and phase code (general task) performed with that labor. • All subcontractor, material supplier and service provider invoices included in the requisition. Supporting documentation must reconcile with each line item amount invoiced for the period on the G-703 continuation sheet for requisitions to be approved and process. • Fully completed and notarized Contractor, subcontractor’s and material supplier’s waivers of lien. Together with such other items as may be reasonably requested by Tenant, Landlord or Landlord’s lender. There will be no shared savings clause incorporated into the TI Construction Contract Guaranteed Maximum Price and any unused portion of the contingency shall revert to Tenant.
Contractor’s Contingency. 1. The GMP Proposal may include an amount (the “Contractor’s Contingency”) to be used to fund increases in the Direct Construction Costs of the Project identified through the refinement, development and completion of the Construction Documents or procurement of the Work. The Contractor’s Contingency shall be negotiated between the Parties and it shall reflect the risk inherent in the state of completion of the Construction Documents at the time the GMP Proposal is submitted.
Contractor’s Contingency. 10.3.1 If the GMP is priced prior to completion of 100% Construction Documents, the Guaranteed Maximum Price Proposal may include Contractor’s Contingency amount to be used to fund increases in the Direct Construction Cost of the Project identified through the refinement, development and completion of the Construction Documents or procurement of the Work.
Contractor’s Contingency. Owner and Contractor have entered into that certain Ground Lease dated on or about the date hereof, for the lease of the Land to Contractor (the “ Ground Lease”). Notwithstanding anything to the contrary contained herein, in the event Contractor, as tenant under the Ground Lease, elects to terminate the Ground Lease pursuant to Section 6(a) thereof, then this Agreement shall automatically terminate upon such termination of the Ground Lease, and neither party shall have any further rights or obligations hereunder.
Contractor’s Contingency. The Contractor’s GMP Proposal contains, as part of the estimated Cost of the Project, the Contractor’s Contingency, a sum agreed upon to cover costs which are properly reimbursable as a Cost of the Project, whether or not such cost is the basis for a Change Order. The Contractor shall regularly (no less than on a monthly basis during the term of this Agreement) provide The City of Fishers with an accounting of all charges against the Contractor’s Contingency.
Contractor’s Contingency. The Contractor’s GMP Proposal contains, as part of the estimated Cost of the Project, the Contractor’s Contingency, a sum agreed upon to cover costs which are properly reimbursable as a Cost of the Project, whether or not such cost is the basis for a Change Order. The Contractor shall regularly (no less than on a monthly basis during the term of this Agreement) provide The City of West Lafayette with an accounting of all charges against the Contractor’s Contingency.
Contractor’s Contingency. The Guaranteed Maximum Price includes Contractor’s Contingency. The Contractor’s Contingency is a sum of money unassociated with any specific work to allow the Contractor to accommodate market changes and/or estimating errors in order to complete the Project within the Guaranteed Maximum Price.
