Common use of Rejection of the GMP Proposal by TFC Clause in Contracts

Rejection of the GMP Proposal by TFC. If the TFC rejects the GMP Proposal or the parties are unable or unwilling to agree on a negotiated variant of it, TFC may terminate this Agreement. Notwithstanding UGC Section 14.7, if this Agreement is terminated pursuant to this Section 5.3.2, TFC shall pay the CMR for that portion of the Preconstruction Services Fee as has been incurred and approved by TFC to the time of termination and TFC shall then have no further duties, responsibilities, or financial obligations to the CMR. After such a termination of this Agreement, TFC will be free to abandon or pursue this Project in any manner as it sees fit without any obligation to CMR.

Rejection of the GMP Proposal by TFC. If the TFC rejects the GMP Proposal or the parties are unable or unwilling to agree on a negotiated variant of it, TFC may terminate this Agreement. Notwithstanding UGC Section 14.7, if this Agreement is terminated pursuant to this Section 5.3.2, TFC shall pay the CMR for that portion of the Preconstruction Services Fee as has been incurred and approved by TFC to the time of termination and TFC shall then have no further duties, responsibilities, or financial obligations to the CMR. After such a termination of this Agreement, TFC will be free to abandon or pursue this Project in any manner as it sees fit without any obligation to CMR.