Common use of Failure to Furnish an Acceptable GMP Clause in Contracts

Failure to Furnish an Acceptable GMP. If the CM/GC does not furnish a GMP acceptable to Owner within Owner's Target GMP Range (stated on the cover page of this CM/GC Contract), or if Owner determines at any time in its sole discretion that the parties may fail to reach a timely agreement on a GMP acceptable to Owner, Owner may terminate the Contract without liability, and the CM/GC shall notreceive additional compensation beyondthe Preconstruction Fee under the Contract and sums due under any Early Work Amendment. Termination under this provision shall proceed under Section J.5 of the State of Oregon General Conditions as a termination for Owner's convenience. The CM/GC further agrees that Owner shall not beliable for any damages whether actual, consequential, or otherwise for termination of the Contract under this provision.

Failure to Furnish an Acceptable GMP. If the CM/GC does not furnish a GMP acceptable to Owner within Owner's Target GMP Range (stated on the cover page of this CM/GC Contract), or if Owner determines at any time in its sole discretion that the parties may fail to reach a timely agreement on a GMP acceptable to Owner, Owner may terminate the Contract without liability, and the CM/GC shall notreceive not receive additional compensation beyondthe beyond the Preconstruction Fee under the Contract and sums due under any Early Work Amendment. Termination under this provision shall proceed under Section J.5 of the State of Oregon General Conditions as a termination for Owner's convenience. The CM/GC further agrees that Owner shall not beliable be liable for any damages whether actual, consequential, consequential or otherwise for termination of the Contract under this provision.

Failure to Furnish an Acceptable GMP. If the CM/GC does not furnish a GMP acceptable to Owner within Owner's ’s Target GMP Range (stated on the cover page of this CM/GC Contract)Range, or if Owner determines at any time in its sole discretion that the parties may fail to reach a timely agreement on a GMP acceptable to Owner, Owner may terminate the Contract without liability, and the CM/GC shall notreceive not receive additional compensation beyondthe beyond the earned portion of the Preconstruction Fee under the Contract and sums due under any Early Work Amendment. The timing of the termination will be determined by Owner, in Owner’s sole discretion. Termination under this provision shall proceed under Section J.5 of the State of Eastern Oregon University General Conditions as a termination for Owner's ’s convenience. The CM/GC further agrees that Owner shall not beliable be liable for any damages whether actual, consequential, consequential or otherwise for termination of the Contract under this provision.