Common use of Provide Budget Clause in Contracts

Provide Budget. Prior to the commencement of the Work under a Component Change Order and in the GMP Change Order, The CM/GC shall provide or update the Construction Budget to the Owner and Design Professional, including therein as a line item the estimated cost for each discrete cost of the Work within the Change Order Sum or the Guaranteed Maximum Price, as the case may be. The CM/GC shall revise and refine the Construction Budget at appropriate intervals as required by the conditions of the Work and present the revisions to the Owner. As the projected cost of the Work becomes more determinable; the CM/GC shall incorporate approved changes as they occur; shall develop cash flow reports and forecasts; shall identify variances between actual and budgeted costs and shall advise the Owner and Design Professional promptly whenever projected costs exceed or may exceed the budgeted cost. The Construction Budget, as revised thereafter, is regularly updated and provided by the CM/GC to the Owner and Design Professional for the purpose of permitting the Owner to monitor the progress of the Work and to establish the bases on which claims or requests by the CM/GC, or other matters, may be evaluated. The CM/GC does not guarantee any line item cost stated in the Construction Budget and shall not be bound by the estimated line item amounts stated in the Construction Budget, but shall be bound by the GMP.

Provide Budget. Prior to the commencement of the Work under a Component Change Order and in the GMP Change Order, The CM/GC Design-Builder shall provide or update the Design and Construction Budget to the Owner and Design ProfessionalProgram Manager, including therein as a line item the estimated cost for each discrete cost of the Work within the Change Order Sum or the Guaranteed Maximum Price, as the case may be. The CM/GC Design-Builder shall revise and refine the Design and Construction Budget at appropriate intervals as required by the conditions of the Work and present the revisions to the OwnerProgram Manager. As the projected cost of the Work becomes more determinable; the CM/GC Design Builder shall incorporate approved changes as they occur; shall develop cash flow reports and forecasts; shall identify variances between actual and budgeted costs and shall advise the Owner and Design Professional the Program Manager promptly whenever projected costs exceed or may exceed the budgeted cost. The Design and Construction Budget, as revised thereafter, is regularly updated and provided by the CM/GC Design-Builder to the Owner and Design Professional Program Manager for the purpose of permitting the Owner to monitor the progress of the Work and to establish the bases on which claims or requests by the CM/GCDesign-Builder, or other matters, may be evaluated. The CM/GC Design-Builder does not guarantee any line item cost stated in the Construction Budget and shall not be bound by the estimated line item amounts stated in the Construction Budget, but shall be bound by the GMP.

Provide Budget. Prior to the commencement of the Work under a Component Change Order and in the GMP Change Order, The CM/GC the CMR shall provide or update the Construction Budget to the Owner Board and Design Professional, including therein as a line item the estimated cost for each discrete cost of the Work within the Component Change Order Sum or the Guaranteed Maximum Price, as the case may be. The CM/GC CMR shall revise and refine the Construction Budget at appropriate intervals as required by the conditions of the Work and present the revisions to the OwnerBoard. As the projected cost of the Work becomes more determinable; the CM/GC CMR shall incorporate approved changes as they occur; shall develop cash flow reports and forecasts; shall identify variances between actual and budgeted costs and shall advise the Owner Board and Design Professional promptly whenever projected costs exceed or may exceed the budgeted cost. The Construction Budget, as revised thereafter, is regularly updated and provided by the CM/GC CMR to the Owner Board and Design Professional for the purpose of permitting the Owner Board to monitor the progress of the Work and to establish the bases on which claims or requests by the CM/GCCMR, or other matters, may be evaluated. The CM/GC CMR does not guarantee any line item cost stated in the Construction Budget and shall not be bound by the estimated line item amounts stated in the Construction Budget, but shall be bound by the GMP.

Provide Budget. Prior to the commencement of the Work under a Component Change Order and in the GMP Change Order, The CM/GC Design-Builder shall provide or update the Design and Construction Budget to the Owner and Design ProfessionalExecutive Administrator, including therein as a line item the estimated cost for each discrete cost of the Work within the Change Order Sum or the Guaranteed Maximum Price, as the case may be. The CM/GC Design-Builder shall revise and refine the Design and Construction Budget at appropriate intervals as required by the conditions of the Work and present the revisions to the OwnerExecutive Administrator. As the projected cost of the Work becomes more determinable; the CM/GC Design-Builder shall incorporate approved changes as they occur; shall develop cash flow reports and forecasts; shall identify variances between actual and budgeted costs and shall advise the Owner and Design Professional the Executive Administrator promptly whenever projected costs exceed or may exceed the budgeted cost. The Design and Construction Budget, as revised thereafter, is regularly updated and provided by the CM/GC Design-Builder to the Owner and Design Professional Executive Administrator for the purpose of permitting the Owner to monitor the progress of the Work and to establish the bases on which claims or requests by the CM/GCDesign-Builder, or other matters, may be evaluated. The CM/GC Design-Builder does not guarantee any line item cost stated in the Construction Budget and shall not be bound by the estimated line item amounts stated in the Construction Budget, but shall be bound by the GMP.

Provide Budget. Prior to the commencement of the Work under a Component Change Order and in the GMP Change Order, The CM/GC Design-Builder shall provide or update the Design and Construction Budget to the Owner and Design ProfessionalExecutive Administrator, including therein as a line item the estimated cost for each discrete cost of the Work within the Change Order Sum or the Guaranteed Maximum Price, as the case may be. The CM/GC Design-Builder shall revise and refine the Design and Construction Budget at appropriate intervals as required by the conditions of the Work and present the revisions to the OwnerExecutive Administrator. As the projected cost of the Work becomes more determinable; the CM/GC Design- Builder shall incorporate approved changes as they occur; shall develop cash flow reports and forecasts; shall identify variances between actual and budgeted costs and shall advise the Owner and Design Professional the Executive Administrator promptly whenever projected costs exceed or may exceed the budgeted cost. The Design and Construction Budget, as revised thereafter, is regularly updated and provided by the CM/GC Design-Builder to the Owner and Design Professional Executive Administrator for the purpose of permitting the Owner to monitor the progress of the Work and to establish the bases on which claims or requests by the CM/GCDesign-Builder, or other matters, may be evaluated. The CM/GC Design-Builder does not guarantee any line item cost stated in the Construction Budget and shall not be bound by the estimated line item amounts stated in the Construction Budget, but shall be bound by the GMP.

Provide Budget. Prior to the commencement of the Work under a Component Change Order and in the GMP Change Order, The CM/GC shall provide or update the Construction Budget to the Owner and Design Professional, including therein as a line item the estimated cost for each discrete cost of the Work within the Component Change Order Sum or the Guaranteed Maximum Price, as the case may be. The CM/GC shall revise and refine the Construction Budget at appropriate intervals as required by the conditions of the Work and present the revisions to the Owner. As the projected cost of the Work becomes more determinable; the CM/GC shall incorporate approved changes as they occur; shall develop cash flow reports and forecasts; shall identify variances between actual and budgeted costs and shall advise the Owner and Design Professional promptly whenever projected costs exceed or may exceed the budgeted cost. The Construction Budget, as revised thereafter, is regularly updated and provided by the CM/GC to the Owner and Design Professional for the purpose of permitting the Owner to monitor the progress of the Work and to establish the bases on which claims or requests by the CM/GC, or other matters, may be evaluated. The CM/GC does not guarantee any line item cost stated in the Construction Budget and shall not be bound by the estimated line item amounts stated in the Construction Budget, but shall be bound by the GMP.