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. 1.1.34. 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. 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, established in the GMP proposal, shall be considered the uction Manager’s contingency. The estimated Cost of the Work shall not include the Construction Manager’s gency, an amount mutually agreeable between the Construction Manager and the Owner, to cover costs which perly reimbursable as Costs of Work but not the basis for adjusting the Guaranteed Maximum Price or Change Order. The Project 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. All unused Project Contingency shall be returned to the Owner. 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. 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. In developing the Base Target Cost, the PMT will include an appropriate amount for Project contingency to cover costs for issues such as minor revisions to design layout due to errors or omissions, coverage for Contractor’s scope gaps during procurement of subcontractors, unanticipated field conditions that do not constitute an Unforeseen and Differing Site Condition, or re-sequencing of the Work and/or acceleration of the Project schedule for improvement in the Project outcome. The Project contingency is not a separate fund, but will be tracked as a separate line item and used as a cost management tool. The Project contingency will be carried over into the Final Target Cost, as necessary, for use during the Construction Phase. The PMT will determine when and how the Project contingency will be used or allocated among cost model line items. The Project contingency will be taken into consideration as part of the shared cost savings after Final Completion of the Project. However, the Owner may not require the Project contingency to be used for any of the conditions set forth in Section 11.1.
Project Contingency. The Atlas Planning Team recommends the addition of a project consistency budget, which could be used to accommodate additional project needs and/or new project components. Under this budget, additional work conducting community engagement, outreach, analysis, and meeting attendance could be accommodated if approved by the City.
