Common use of Failure to Agree on a GMP Clause in Contracts

Failure to Agree on a GMP. If the City and the Construction Manager fail, after good faith efforts, to agree upon a GMP, this Agreement may be terminated upon 15 Days’ notice from either Party to the other. In the event of a termination for failure to agree on a GMP, the Construction Manager’s sole and exclusive right and remedy shall be to be paid for all Work performed and to receive equitable adjustment for all Work performed through the date of termination plus reasonable demobilization costs, subcontract and purchase order termination costs, reasonable overhead and profit on the Work performed. The Construction Manager shall not be entitled to be paid any amount as profit for unperformed Work or Services or consideration for the termination under this Subsection.

Failure to Agree on a GMP. If the City District and the Construction Manager fail, after good faith efforts, to agree upon a GMP, this Agreement may be terminated upon 15 fifteen (15) Days’ notice from either Party to the other. In the event of a termination for failure to agree on a GMP, the Construction Manager’s sole and exclusive right and remedy shall be to be paid for all Work performed and to receive equitable adjustment for all Work performed through the date of termination plus reasonable demobilization costs, subcontract and purchase order termination costs, reasonable overhead and profit on the Work performed. The Construction Manager shall not be entitled to be paid any amount as profit for unperformed Work or Services or consideration for the termination under this Subsection.

Failure to Agree on a GMP. If the City Town and the Construction Manager Contractor fail, after good faith efforts, to agree upon a GMP, this Agreement may be terminated upon 15 Days’ notice from either Party to the other. In the event of a termination for failure to agree on a GMP, the Construction ManagerContractor’s sole and exclusive right and remedy shall be to be paid for all Work performed and to receive equitable adjustment for all Work performed through the date of termination plus reasonable demobilization costs, subcontract and purchase order termination costs, reasonable overhead and profit on the Work performed. The Construction Manager Contractor shall not be entitled to be paid any amount as profit for unperformed Work or Services or consideration for the termination under this Subsection.