Project Contingency. The Project Contingency is included in the GMP. Design Build Entity shall be entitled to mark-up for bonds, non-OCIP insurance (excluding subcontractor default insurance), and overhead and profit on the Direct Cost of Work for Construction Work paid for out of the Project Contingency. Such mark-up shall be at the percentages specified in Design Build Entity’s Price Proposal Form attached as Exhibit O to the Agreement.
Project Contingency. A Project Contingency of ten percent (10%) of estimated construction costs is included in the Estimated Cost. The Project Contingency will not be available for: (i) work required due to Subdivider’s or Subdivider’s agents’ failure to perform work or services according to the terms of this Agreement or in compliance with the Construction Documents; or (ii) uninsured losses resulting from the negligence of Subdivider or Subdivider’s agents.
Project Contingency. Judicial Council or “Owner” or State”. The State of California acting through the Judicial Council of California.
Project Contingency. The contingency identified in Exhibit “B” to the Agreement which is to be used by the CMR to pay for any changes or extra work, as detailed in the applicable subsection of the “Conflicts, Ambiguities, Errors and Omission in the Contract Documents” Section herein. The unused portion of the Project Contingency shall be retained by the Judicial Council at the end of the Project.
Project Contingency. The contingency identified in the Agreement that is to be used by the CMR to pay for certain scopes of Work, as further defined herein.
Project Contingency. 11.1. The overall Project GMP shall include a contingency amount (the “Project Contingency”) for the use by the CM or Owner as allowed by this Agreement. The Project Contingency in the GMP for the Project is Seventy-Four Thousand Sixty Dollars ($74,060).
11.2. The Project Contingency is not meant to add to the Fixed Fee of the CM. The Project Contingency may only be used to defray increases in the Cost of the Work caused by the following circumstances (but only after the CM has exhausted all credits, unused allowances and any and all other remedies the CM might have):
11.2.1. After the CM has awarded contracts to its Contractors, to pay any costs incurred by the CM as a result of a Contractor default already under contract with the CM but only to the extent the CM is, after a reasonable effort, unable to recover the costs from the Contractor, Contractor’s surety (if any) or other guarantor or insurer; provided, however, that the Project Contingency may not be used to pay deductibles, retention or copayments incurred pursuant to a subcontractor default insurance policy;
11.2.2. To pay for quality assurance testing, inspections or other investigations that the CM believes are necessary to substantiate that work of the Contractors meets the requirements of the Contract Documents, to the extent, after a reasonable effort, the CM is unable to recover the costs from Contractors, Contractors’ sureties or other guarantors or insurers;
11.2.3. To pay for mediation and legal costs per Article 34 if a suit is initiated against the Owner by any of the CM’s Contractor, to the extent, after a reasonable effort, the CM is unable to recover those costs from the Contractor, the Contractor’s sureties or other guarantors or insurers.
11.2.4. If, in the CM and Owner’s opinion, the use of the Project Contingency is advisable or necessary for the benefit of the Project but only after all possible remedies, aside from increase payment by Owner, have been exhausted. The written request from the CM or Owner must contained specific language as to why the use of the Project Contingency is necessary and beneficial to the Project. These include directives from the AHJ or improvements to the Project which are vital to the function, safety operation or maintenance of the project. The Owner may utilize his portion of the Project Contingency for other purposes with approval of the CM.
11.3. The CM shall consult with the Owner and provide the Owner with reasonable documentation justifying ...
Project Contingency. All projects approved by the Green Action Fund shall include a 10% contingency budget. This budget may not be utilized without the written consent of the Green Action Fund Grant Coordinator.
Project Contingency. The Project Contingency, established in the GMP proposal, shall be considered the Buy-Out/Owner’s Contingency. It is expected that some cost savings between the Construction Manager’s Guaranteed Maximum Price (GMP) and the actual Cost of the Work may be generated as a result of the final bidding negotiation of subcontracts and actual expenses incurred by the Construction Manager. The Construction Management Fee, General Conditions, and General Requirements shall not be adjusted as a result of these savings. Any cost savings which is realized as a result of this Buy-Out shall be held by the Owner as the Owner’s Contingency, which is not part of the GMP proposal. When costs arise on the Project which the Construction Manager believes should be paid from the Project Contingency fund established in the GMP proposal, the Construction Manager shall promptly advise the Owner of such costs consistent with the requirements of the Contract Documents. If the Owner concurs that such costs are properly payable from the Project Contingency funds, the Project Contingency shall be reduced in the amount of such costs. Owner’s concurrence that costs be paid from the Project Contingency will not be unreasonably withheld. Only upon the exhaustion of the funds in the Project Contingency shall similar Construction Manager’s contingency payments be made from the Owner’s Contingency and only with the Owner’s prior approval. The Owner’s Contingency shall only be adjusted by means of issuing a written Construction Change Directive, and it shall be clearly noted on the document that costs are allocated against the Project Contingency.
Project Contingency. Lessor agrees that the validity of and performance under this Lease is contingent upon Mazda Toyota Manufacturing USA (“MTMUS”) in the Huntsville region, awarding that certain MRO Services Contract to Lessee or its affiliated entities (hereinafter, the “Contingency”). If Lessee is not awarded such contract and no written commitment to the Lessee for the MRO project is received on or before February 15, 2020, the Lease and all its commitments will become null and void to both parties. However, if the contract is awarded to Lessee or its affiliated entities or anyone else, Lessee is required to provide written notice thereof to Lessor to remove the Contingency, and thereafter the Lease shall be binding on all parties or to notify the Lessor that the contract was awarded to another unrelated entity and this Lease is therefore null and void. Additionally, on or before February 15, 2020, if a Letter of Intent is received by Lessor from a third-party with a firm commitment to lease the Premises, Lessee will have the first right of refusal to remove this Contingency or allow the Lessor to proceed with the Letter of Intent with the other parties. Lessee must respond within three (3) business days (the “Response Time”) if they choose to remove this Contingency using the form attached hereto as Exhibit A. If Lessee does not timely deliver to Lessor the Removal of Contingency Certificate, this Lease will become null and void upon expiration of the Response Time with no further obligations to perform by Lessor or Lessee. Lessor and Lessee may mutually agree in writing to extend the Contingency for up to an additional fifteen (15) days.
Project Contingency. The Project Contingency, or a portion thereof, actually applied by the Authority to the Project as set forth in a Contingency Work Order.
