PAYMENTS AND COST OF THE WORK Sample Clauses

PAYMENTS AND COST OF THE WORK. 8.1 In full consideration of the full and complete performance of the Work and all other obligations of the CONTRACTOR hereunder, the CITY shall pay to the CONTRACTOR a sum of money not to exceed the contract price which is defined to be the total of: (i) the CONTRACTOR’s Direct Construction Cost, (ii) so much of the CONTRACTOR’s General Conditions as may have been expended, (iii) so much of the approved amount of the Construction Contingency as may have been expended, and (iv) the CONTRACTORS’s construction management fee. The contract price shall not exceed the sum shown in Article 1.0 as the Guaranteed Maximum Price, adjusted to take into account any approved Change Orders, which shall mean those costs necessarily incurred and paid by the CONTRACTOR in connection with the performance of all the work. 8.2 After completion and acceptance of the work, in the event that the Cost of the Work plus the CONTRACTOR’s fee are less than the Guaranteed Maximum Price after giving effect to adjustments to the GMP made in accordance with this Contract then the difference between the Cost of the Work plus the CONTRACTOR’s Fee on the one hand and the GMP on the other hand is the “savings”. Savings as described above shall be equally divided between CITY and CONTRACTOR. In the event that the CONTRACTOR’s total approved expenditures for the project shall exceed the Guaranteed Maximum Price, the CONTRACTOR shall pay such excess from its own funds, and the CITY shall not be required to pay any amount that exceeds the GMP; and the CONTRACTOR shall have no claim against the CITY on account thereof.
Sample 1
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PAYMENTS AND COST OF THE WORK. 5.1 In full consideration of the full and complete performance of the Work and all other obligations of the Construction Manager hereunder, the CITY shall pay to the Construction Manager a sum of money not to exceed the contract price which is defined to be the total of: (i) the Construction Manager’s Cost of the Work, (ii) an amount equal to the total General Conditions and Construction Management Fee line items, divided by the number of months in the Construction Schedule plus any additional General Conditions and Per Diem Construction Manager’s Fee, as provided herein (iii) so much of the approved amount of the Contingency as may have been expended, (iv) Construction Manager’s Fee. The contract price shall not exceed the sum shown in Article 1.0 as the Guaranteed Maximum Price, adjusted to take into account any approved Change Orders, and shall mean those costs necessarily incurred and paid by the CONTRACTOR in connection with the performance of all the work. 5.2 In the event that the Construction Manager’s total approved expenditures for the Project shall exceed the Guaranteed Maximum Price, the Construction Manager shall pay such excess from its own funds, and the CITY shall not be required to pay any amount that exceeds the GMP; and the Construction Manager shall have no claim against the CITY on account thereof.
Sample 1
PAYMENTS AND COST OF THE WORK. 5.1 In full consideration of the full and complete performance of the Work and all other obligations of the CONTRACTOR hereunder, the CITY shall pay to the CONTRACTOR a sum of money not to exceed the contract price which is defined to be the total of: (i) the CONTRACTOR’s Cost of the Work, (ii) so much of the CONTRACTOR’s General Conditions as may have been expended, (iii) so much of the approved amount of the Contingency as may have been expended, (iv) the CONTRACTORS’s Construction Management Fee, and
Sample 1
PAYMENTS AND COST OF THE WORK. 8.1 When the Pricing Documents are complete, CONTRACTOR, PMO, CPM and CA shall convene a Contract Price meeting to negotiate the GMP. CONTRACTOR will thereafter submit to the CA a completed Exhibit 1, CONTRACTOR’s Direct Construction Cost, Schedule of Values, and any other revised elements within the GMP. Based upon such mutually agreed modifications, the CA will issue a CPEAM to reallocate amounts within the GMP; or, if a change to the GMP is required, the CA will initiate a Change Order through the CPM. 8.2 In full consideration of the full and complete performance of the Work and all other obligations of the CONTRACTOR hereunder, the COUNTY shall pay to the CONTRACTOR a sum of money not to exceed the GMP. The GMP shall be as set forth in Article 9 as adjusted by any approved Change Orders. In the event that the CONTRACTOR’s expenditures for the Project exceeds the GMP, the CONTRACTOR shall pay such excess from its own funds, and the COUNTY shall not be required to pay any amount that exceeds the GMP; and the CONTRACTOR shall have no claim against the COUNTY on account thereof. 8.3 After Final Completion and acceptance of the Work, CONTRACTOR, PMO, CPM and the CA shall determine any “savings” achieved during the progress of the Work. 8.3.1 Prior to calculating the “savings,” the remaining amounts in the Document Completion Contingency shall be transferred to the COUNTY’s Contingency and shall not be used to determine “savings.” 8.3.2 The “Savings” shall be determined by performing the following calculation: Add all unused amounts from the CONTRACTOR’s Direct Construction Cost, CONTRACTOR’s General Conditions, CONTRACTOR’s Management Services CONTRACTOR Fixed Fee, and CONTRACTOR'S Construction Contingency, and divide in half. The CONTRACTOR will share in half and the COUNTY will share in half. The COUNTY’s half shall be placed into the COUNTY’s Contingency using the CPEAM. The CONTRACTOR may submit a complete and proper invoice for its half of the savings.
Sample 1
PAYMENTS AND COST OF THE WORK 
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Related to PAYMENTS AND COST OF THE WORK

  • Cost of the Work The sum of all allowable costs necessarily incurred and paid by Contractor in the proper performance of the Work.

  • Attorneys’ Fees and Cost of Collection In the event any suit, action or arbitration is filed by either party against the other to interpret or enforce any of the Transaction Documents, the unsuccessful party to such action agrees to pay to the prevailing party all costs and expenses, including attorneys’ fees incurred therein, including the same with respect to an appeal. The “prevailing party” shall be the party in whose favor a judgment is entered, regardless of whether judgment is entered on all claims asserted by such party and regardless of the amount of the judgment; or where, due to the assertion of counterclaims, judgments are entered in favor of and against both parties, then the arbitrator shall determine the “prevailing party” by taking into account the relative dollar amounts of the judgments or, if the judgments involve nonmonetary relief, the relative importance and value of such relief. Nothing herein shall restrict or impair an arbitrator’s or a court’s power to award fees and expenses for frivolous or bad faith pleading. If (i) the Note is placed in the hands of an attorney for collection or enforcement prior to commencing arbitration or legal proceedings, or is collected or enforced through any arbitration or legal proceeding, or Investor otherwise takes action to collect amounts due under the Note or to enforce the provisions of the Note, or (ii) there occurs any bankruptcy, reorganization, receivership of Company or other proceedings affecting Company’s creditors’ rights and involving a claim under the Note; then Company shall pay the costs incurred by Investor for such collection, enforcement or action or in connection with such bankruptcy, reorganization, receivership or other proceeding, including, without limitation, attorneys’ fees, expenses, deposition costs, and disbursements.

  • Direct Costs The Contractor shall separately identify each item of deleted and added work associated with the change or other condition giving rise to entitlement to an equitable adjustment, including increases or decreases to unchanged work impacted by the change. For each item of work so identified, the Contractor shall propose for itself and, if applicable, its first two tiers of subcontractors, the following direct costs: (1) Material cost broken down by trade, supplier, material description, quantity of material units, and unit cost (including all manufacturing burden associated with material fabrication and cost of delivery to site, unless separately itemized); (2) Labor cost broken down by trade, employer, occupation, quantity of labor hours, and burdened hourly labor rate, together with itemization of applied labor burdens (exclusive of employer’s overhead, profit, and any labor cost burdens carried in employer’s overhead rate); (3) Cost of equipment required to perform the work, identified with material to be placed or operation to be performed; (4) Cost of preparation and/or revision to shop drawings and other submittals with detail set forth in paragraphs (e)(1) and (e)(2) of this clause; (5) Delivery costs, if not included in material unit costs; (6) Time-related costs not separately identified as direct costs, and not included in the Contractor’s or subcontractors’ overhead rates, as specified in paragraph

  • Start-Up Costs The Government of Ontario will provide:

  • Project Costs Simultaneously with the execution of this Agreement, the Company shall disclose to the Department all of the Project Costs which the Company seeks to include for purposes of determining the limitation of the amount of the Credit pursuant to Section 5-30 of the Act and provide to the Department a Schedule of Project Costs in the form as attached hereto as Exhibit C.

  • Subcontract Costs Payments made by the Construction Manager to Subcontractors in accordance with the requirements of the subcontracts and this Agreement.

  • Project Cost Overruns In the event that the Recipient determines that the moneys granted pursuant to Section II hereof, together with the Local Subdivision Contribution, are insufficient to pay in full the costs of the Project, the Recipient may make a request for supplemental assistance to its District Committee. The Recipient must demonstrate that such funding is necessary for the completion of the Project and the cost overrun was the result of circumstances beyond the Recipient's control, that it could not have been avoided with the exercise of due care, and that such circumstances could not have been anticipated at the time of the Recipient's initial application. Should the District Committee approve such request the action shall be recorded in the District Committee's official meeting minutes and provided to the OPWC Director for the execution of an amendment to this Agreement.

  • Development Costs Licensee shall be responsible for all of its costs and expenses in connection with the Development of, and obtaining and maintaining Regulatory Approvals for, the Licensed Products in the Field in the Territory.

  • Default – Reprocurement Costs In case of Contract breach by Contractor, resulting in termination by the County, the County may procure the goods and/or services from other sources. If the cost for those goods and/or services is higher than under the terms of the existing Contract, Contractor will be responsible for paying the County the difference between the Contract cost and the price paid, and the County may deduct this cost from any unpaid balance due the Contractor. The price paid by the County shall be the prevailing market price at the time such purchase is made. This is in addition to any other remedies available under this Contract and under law.

  • Construction Costs Under no circumstances shall the Consultant be liable for extra costs or other consequences due to unknown conditions or related to the failure of contractors to perform work in accordance with the plans and specifications. Consultant shall have no liability whatsoever for any costs arising out of the Client’s decision to obtain bids or proceed with construction before the Consultant has issued final, fully-approved plans and specifications. The Client acknowledges that all preliminary plans are subject to substantial revision until plans are fully approved and all permits obtained.

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