Shared-Savings Change Order Sample Clauses

Shared-Savings Change Order. Unless otherwise provided in the GMP Amendment, no more than 30 days before final payment to the CM, the parties shall execute a Change Order to reduce the Contract Sum by an amount equal to (1) 100 percent of the funds then remaining in the CM’s Contingency plus (2) an associated reduction of the CM’s Fee in an amount equal to «insert CM Fee percentage from Section 3.5 of this Agreement» percent of the amount by which the Contract Sum is reduced on account of return of the CM’s Contingency. The CM shall propose the amount of the CM’s Fee as a part of the proposed GMP Amendment; provided, however, that the CM’s Fee shall not exceed an amount equal to the below-indicated percentage of the associated Cost of the Work plus the CM’s Contingency, both as identified by the CM in the proposed GMP Amendment: «insert description» «insert percentage»% «insert description» «insert percentage»% «insert description» «insert percentage»% «insert description» «insert percentage»% If the parties cannot agree on a Contract Sum, the Contracting Authority may terminate the Contract for convenience. If the Contracting Authority thereafter decides to pursue the Project using the Multiple-Prime Contract with Construction Manager Adviser project-delivery method and to enter into a related construction-management agreement with the CM, the CM’s Fee under that contract shall not exceed «insert CM Adviser Fee percentage» percent. The Contracting Authority is not obligated to offer or enter into a Construction Manager Adviser contract with the CM for the Project. - Key Personnel The CM’s key personnel for the Project are: «insert name», Project Manager; «insert name», Lead Scheduling Engineer; «insert name», Lead Estimator; «insert name», General Superintendent. The CM’s key personnel are authorized to act on the CM’s behalf with respect to the Project and all matters concerning the Project. - Consultants The CM’s Consultants for the Project are: «insert discipline»: «insert firm name» «insert firm address» «insert firm address» «insert consultant contact name, title» «insert consultant contact name, title» «insert consultant contact name, title» «insert discipline»: «insert firm name» «insert firm address» «insert firm address» «insert consultant contact name, title» «insert consultant contact name, title» «insert consultant contact name, title» The CM may provide a portion of the Work through one or more Consultants, provided, however, the CM will remain responsible for all duties...
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Shared-Savings Change Order. Unless otherwise provided in the GMP Amendment, no more than thirty (30) days before final payment to the CM, the parties shall execute a Change Order to reduce the Contract Sum by an amount equal to (1) one hundred percent (100%) of the funds then remaining in the CM’s Contingency plus (2) an associated reduction of the CM’s Fee in an amount equal to «insert CM Fee percentage from Section 3.5 of this Agreement» percent (x%) of the amount by which the Contract Sum is reduced on account of return of the CM’s Contingency.
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Shared-Savings Change Order. Unless otherwise provided in the GMP Amendment, no more than 30 days before final payment to the DB, the parties shall execute a Change Order to reduce the Contract Sum by an amount equal to (1) one hundred percent (100%) of the funds then remaining in the DB’s Contingency plus (2) an associated reduction of the DB’s Fee in an amount equal to «insert DB Fee percentage from Section 3.6 of this Agreement» percent (x%) of the amount by which the Contract Sum is reduced on account of return of the DB’s Contingency.
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Shared-Savings Change Order. NoUnless otherwise provided in the GMP Amendment, no more than 30 days
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Related to Shared-Savings Change Order

  • Election Changes The Executive may modify the amount of Deferrals annually by filing a new Deferral Election Form with the Employer. The modified deferral shall not be effective until the calendar year following the year in which the subsequent Deferral Election Form is received by the Employer.

  • FORFEITURE ALLOCATION The amount of a Participant's Accrued Benefit forfeited under the Plan is a Participant forfeiture. The Advisory Committee will allocate Participant forfeitures in the manner specified by the Employer in its Adoption Agreement. The Advisory Committee will continue to hold the undistributed, non-vested portion of a terminated Participant's Accrued Benefit in his Account solely for his benefit until a forfeiture occurs at the time specified in Section 5.09 or if applicable, until the time specified in Section 9.14. Except as provided under Section 5.04, a Participant will not share in the allocation of a forfeiture of any portion of his Accrued Benefit.

  • Shift Changes When an employee is assigned to a specific shift and that assignment is changed, the employee shall be given seven (7) calendar days’ notice prior to the change.

  • Collection Allocation Mechanism On the CAM Exchange Date, (a) the Commitments shall automatically and without further act be terminated as provided in Article VII, (b) each Lender shall become obligated to fund, within one Business Day, all participations in outstanding Swingline Loans held by it (it being agreed that the CAM Exchange shall not result in a reallocation of such funding obligations, but only of the funded participations resulting therefrom) and (c) the Lenders shall automatically and without further act be deemed to have made reciprocal purchases of interests in the Designated Obligations such that, in lieu of the interests of each Lender in the particular Designated Obligations that it shall own as of such date and immediately prior to the CAM Exchange, such Lender shall own an interest equal to such Lender’s CAM Percentage in each Designated Obligation. Each Lender, each person acquiring a participation from any Lender as contemplated by Section 11.04 and each Borrower hereby consents and agrees to the CAM Exchange. Each Borrower and each Lender agrees from time to time to execute and deliver to the Administrative Agent all such promissory notes and other instruments and documents as the Administrative Agent shall reasonably request to evidence and confirm the respective interests and obligations of the Lenders after giving effect to the CAM Exchange, and each Lender agrees to surrender any promissory notes originally received by it hereunder to the Administrative Agent against delivery of any promissory notes so executed and delivered; provided that the failure of any Borrower to execute or deliver or of any Lender to accept any such promissory note, instrument or document shall not affect the validity or effectiveness of the CAM Exchange. As a result of the CAM Exchange, on and after the CAM Exchange Date, each payment received by the Administrative Agent pursuant to any Loan Document in respect of the Designated Obligations shall be distributed to the Lenders pro rata in accordance with their respective CAM Percentages (to be redetermined as of each such date of payment or distribution to the extent required by the next paragraph), but giving effect to assignments after the CAM Exchange Date, it being understood that nothing herein shall be construed to prohibit the assignment of a proportionate part of all an assigning Lender’s rights and obligations in respect of a single Class of Commitments or Loans. In the event that, after the CAM Exchange, the aggregate amount of the Designated Obligations shall change as a result of the making of an LC Disbursement of either Tranche by an Issuing Bank that is not reimbursed by the applicable Borrower, then (a) each Lender of such Tranche shall, in accordance with Section 2.05(d), promptly purchase from the applicable Issuing Bank a participation in such LC Disbursement in the amount of such Lender’s Tranche One Percentage or Tranche Two Percentage, as the case may be, of such LC Disbursement (without giving effect to the CAM Exchange), (b) the Administrative Agent shall redetermine the CAM Percentages after giving effect to such LC Disbursement and the purchase of participations therein by the applicable Lenders, and the Lenders shall automatically and without further act be deemed to have made reciprocal purchases of interests in the Designated Obligations such that each Lender shall own an interest equal to such Lender’s CAM Percentage in each of the Designated Obligations and (c) in the event distributions shall have been made in accordance with the preceding paragraph, the Lenders shall make such payments to one another as shall be necessary in order that the amounts received by them shall be equal to the amounts they would have received had each LC Disbursement been outstanding immediately prior to the CAM Exchange. Each such redetermination shall be binding on each of the Lenders and their successors and assigns and shall be conclusive absent manifest error.

  • Risk Allocation The Product is Regulatorily Continuing.

  • Allocation of Award The total Award made with respect to the Leased Property or for loss of rent, or for Lessor’s loss of business beyond the Term, shall be solely the property of and payable to Lessor. Any Award made for loss of Lessee’s business during the remaining Term, if any, for the taking of Lessee’s Personal Property, or for removal and relocation expenses of Lessee in any such proceedings shall be the sole property of and payable to Lessee. In any Condemnation proceedings Lessor and Lessee shall each seek its Award in conformity herewith, at its respective expense; provided, however, Lessee shall not initiate, prosecute or acquiesce in any proceedings that may result in a diminution of any Award payable to Lessor.

  • Payment and Year-End Adjustment Amounts accrued pursuant to this Agreement shall be payable to the Adviser as of the last day of each month. If necessary, on or before the last day of the first month of each fiscal year, an adjustment payment shall be made by the appropriate party in order that the actual Fund Operating Expenses of a Fund for the prior fiscal year (including any reimbursement payments hereunder with respect to such fiscal year) do not exceed the Maximum Annual Operating Expense Limit.

  • Performance Adjustment One-twelfth of the annual Performance Adjustment Rate will be applied to the average of the net assets of the Portfolio (computed in the manner set forth in the Fund's Declaration of Trust or other organizational document) determined as of the close of business on each business day throughout the month and the performance period.

  • Deferral Pending Change in Control The obligation of the Company to prepay Notes pursuant to the offers required by subparagraph (b) and accepted in accordance with subparagraph (d) of this Section 8.7 is subject to the occurrence of the Change in Control in respect of which such offers and acceptances shall have been made. In the event that such Change in Control does not occur on the Proposed Prepayment Date in respect thereof, the prepayment shall be deferred until and shall be made on the date on which such Change in Control occurs. The Company shall keep each holder of Notes reasonably and timely informed of (i) any such deferral of the date of prepayment, (ii) the date on which such Change in Control and the prepayment are expected to occur, and (iii) any determination by the Company that efforts to effect such Change in Control have ceased or been abandoned (in which case the offers and acceptances made pursuant to this Section 8.7 in respect of such Change in Control shall be deemed rescinded).

  • Contract Changes Changes may not be made in the terms and conditions of this contract without the agreement and written permission of the Director of Residence Life or the Director’s designee.

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