Conversion to Lump Sum. ¨ Notwithstanding anything herein to the contrary , if the Participant’s vested Account at the time such Account becomes payable to him hereunder does not exceed $ distribution of the Participant’s vested Account shall automatically be made in the form of a single lump sum at the time prescribed in Section 1.07(c)(1).
Conversion to Lump Sum. The Parties may agree to convert the GMP to a lump sum contract amount at any time after the CM has received bids or proposals from trade contractors or subcontractors for the performance of all major elements of the Work. In proposing a lump sum amount, the CM shall consider the buyout savings, any unused contingency amounts and the trade package contracts that have not been finalized. In preparing a lump sum conversion proposal, the CM must provide the following information:
Conversion to Lump Sum. The Parties may agree to convert the GMP to a lump sum contract amount at any time after Construction Manager has received bids or proposals from trade Contractors or Subcontractors for the performance of all major elements of the Work. In proposing a lump sum amount, Construction Manager will consider the buyout savings, any unused contingency amounts, and the trade package contracts that have not been finalized. In preparing a lump sum conversion proposal, Construction Manager must provide the following information:
