Common use of Price Guarantees Clause in Contracts

Price Guarantees. (i) Upon execution of Exhibit D, the Construction Manager guarantees that the sum of (i) the actual Cost of the Work, (ii) Construction Manager’s Contingency, (iii) Construction Manager’s Staffing Costs, (iv) General Conditions Cost, and (v) Construction Manager’s Overhead and Profit, shall not exceed the amount set forth in the agreed upon GMP. All costs or expenses that would cause this sum to exceed the GMP shall be borne by the Construction Manager unless adjusted by Owner approved change order.

Price Guarantees. (i) Upon execution of Exhibit D, the Construction Manager guarantees that the sum of (ia) the actual Cost of the Work, (iib) Construction Manager’s Contingency, (iiic) Construction Manager’s Staffing Costs, (ivd) General Conditions Cost, and (ve) Construction Manager’s Overhead and Profit, shall not exceed the amount set forth in the agreed upon GMP. All costs or expenses that would cause this sum to exceed the GMP shall be borne by the Construction Manager unless adjusted by Owner approved change order.