Guaranteed Maximum Price (GMP Sample Clauses

Guaranteed Maximum Price (GMP. Construction Manager guarantees that it shall not exceed a Guaranteed Maximum Price (GMP) of One Million, Twenty-One Thousand, One Hundred Twenty- Four Dollars and Ninety-Seven Cents ($1,021,124.97) for the identified Sub-Project.

Guaranteed Maximum Price (GMP. GMP shall mean the Guaranteed Maximum Price of the Contract, as stated in dollars within the GMP Amendment, as determined in accordance with Article 6, and as it may be adjusted from time to time pursuant to the provisions of this CM/GC Contract.

Guaranteed Maximum Price (GMP. The GMP is the maximum that the Owner shall pay the Contractor for the Work described in the contract documents.

Guaranteed Maximum Price (GMP. The total maximum cost to the County for the Work performed by the Design-Build Firm including the Design Phase Fee, the Construction Phase Fee, Profit, and the Direct Costs.

Guaranteed Maximum Price (GMP. Proposal - When the Design Documents, as generally defined by a design document listing to be provided by the Architect-Engineer and Construction Manager upon execution of this Agreement for use as a guide in developing the specifications and plan data necessary to establish a Guaranteed Maximum Price, are sufficiently complete to establish the scope of work for the Project or any portion thereof, or at such time thereafter designated by the Owner, the Construction Manager will establish and submit in writing for the Owner’s approval, a Guaranteed Maximum Price (“GMP”) or Partial GMP, guaranteeing the maximum price to the Owner, for the construction cost of the Project as a whole (GMP) or designated part thereof (Partial GMP). Such GMP, or Partial GMP, as applicable, will be subject to modification for changes in the Project as provided in Article 10. However, the actual price paid for the work by the Owner shall be the lesser of (1) the GMP (or Partial GMP where appropriate); or (2) the sum of the following: the actual cost of all subcontracts, supply contracts, direct labor costs, direct supervision costs, and direct job costs as defined under Article 9 necessary for the completion of the Project or applicable part thereof in the case of a Partial GMP, and the Construction Manager's compensation under Article 8. OWNER SHALL NOT BE LIABLE FOR NOR SHALL IT PAY CONSTRUCTION MANAGER ANY SUMS IN EXCESS OF THE GUARANTEED MAXIMUM PRICE. CONSTRUCTION MANAGER SHALL PAY ALL SUMS IN EXCESS OF THE GUARANTEED MAXIMUM PRICE WITHOUT REIMBURSEMENT FROM THE OWNER. CONSTRUCTION MANAGER AGREES THAT ANY AND ALL SAVINGS BELONG AND/OR REVERT BACK TO THE OWNER.

Guaranteed Maximum Price (GMP. The Construction Manager’s Guaranteed Maximum Price for the Work, including the Cost of the Work and the Construction Manager’s Fee is Dollars ($0.00). The Above GMP is for the .

Guaranteed Maximum Price (GMP. The maximum amount that Owner is obligated to pay CM/GC for construction of the Project under the GMP Change Order and includes all costs and fees to be paid to CM/GC in connection with the Work and the Project.

Guaranteed Maximum Price (GMP. The Guaranteed Maximum Price, also referred to as the GMP, is the sum total of the Cost of Construction Work, the CMR Contingency, the General Conditions Fee, the Insurance and Taxes Fee, and the Construction Manager at Risk’s Fee which the CMR agrees is the total compensation payable to the CMR for performing the Work. The GMP may be modified only by Change Order for work directed by the Owner which was not previously in the Project or not reasonably foreseeable as required to complete the Work.

Guaranteed Maximum Price (GMP. Upon completion of the Design Development Documents by Design Professional, the Construction Manager shall submit to the University for review and acceptance a proposal to establish a GMP for the Project, guaranteeing the maximum price to the University of the Contract Sum. The Construction Manager shall provide a Guaranteed Maximum Price proposal in a format acceptable to the University. The GMP shall be inclusive of all Allowable Costs (including both the Cost of the Work and the Indirect Cost of the Work), including taxes upon the Work which Construction Manager is legally obligated to pay, and all costs for Trade Contracts, labor, materials, equipment, supervision, fees and costs of whatever nature, necessary to complete the Project in accordance with the approved Design Development Documents. The GMP shall be comprised of the following not-to-exceed values which shall be each operate as independent caps on costs and fees comprising the Contract Sum: a) Cost of the Work b) Indirect Cost of the Work: 1. Cost of General Conditions 2. Cost of On-Site Project Management Staff 3. Preconstruction Costs c) Construction Manager’s Overhead and Profit (Fee) d) Construction Contingency The GMP shall include the preconstruction services cost, the construction Cost of Work, general conditions, general requirements, reimbursable expenses, construction contingencies, overhead and profit, and shall be subject to the written approval and acceptance by the University. The GMP may be subject to modification to reflect changes in the Project only through issuance of written Change Orders executed by the Construction Manager and the University. The Construction Manager shall be responsible for all costs exceeding the GMP.

Guaranteed Maximum Price (GMP. Construction Manager guarantees that it shall not exceed a Guaranteed Maximum Price (GMP) of Dollars ($) for the identified Sub-Project.