Construction Contingency Fund definition

Construction Contingency Fund means a contingency for Construction Costs that shall be included in the total GMP under the Construction Agreement, and which shall be established at the time that the final GMP is established and shall be separate and apart from any other Project contingency funds.
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Examples of Construction Contingency Fund in a sentence

  • The Construction Contingency Fund may not be used for costs associated with Entity, subcontractor or supplier’s delay, lack of coordination or inefficiencies except as allowed in Exhibit D, Article 14.

  • As provided in Exhibit “A” – General Conditions, when the Work and all requirements of the Contract Documents are fully and satisfactorily completed, OWNER will pay to ▇▇▇▇ a final payment consisting of the remaining unpaid balance of the Contract Sum due ▇▇▇▇ after accounting for OWNER’s share of funds remaining in ▇▇▇▇’▇ Construction Contingency Fund and OWNER’s share of funds remaining as a result of Cost Savings.

  • The Entity may draw upon the Construction Contingency Fund, but not the District Contingency, for any increased costs it incurs for replacing a subcontractor under this paragraph, but the Entity shall not be entitled to any increase of that contingency, any increase in the Total Base Rent, or any increase in the lease Term.

  • The Entity shall comply with the requirements of paragraph 4.4.2.4.4 related to any such use of the Construction Contingency Fund.

  • Any additional work needed to achieve a complete, usable and functional Project consistent with the design intent of the District’s Architect will be covered by the Construction Contingency Fund and will not be considered a material change in the scope of the work per Article 15.01 of the Facilities Lease.

  • The Construction Contingency Fund may be used for costs associated with Entity, subcontractor or supplier’s Excusable Delay (as allowed in Exhibit D, Article 14), lack of coordination or inefficiencies.

  • As provided in Exhibit “A” – General Conditions, when the Work and all requirements of the Contract Documents are fully and satisfactorily completed, OWNER will pay to CMAR a final payment consisting of the remaining unpaid balance of the Contract Sum due ▇▇▇▇ after accounting for OWNER’s share of funds remaining in ▇▇▇▇’▇ Construction Contingency Fund and OWNER’s share of funds remaining as a result of Cost Savings.

  • The Construction Contingency Fund may not be used for costs associated with Entity, subcontractor or supplier’s delay, including lack of coordination or inefficiencies except as allowed in Exhibit D, Article 14.

  • The total amount reimbursed by District for each Trade Contractor shall be no more than the amount of the original Trade Contract amount with such Changes as are approved due to changes which result from District initiated changes paid for from the District’s Contingency Fund and/or which are from Changes Due to Unforeseeable Conditions or as approved by District and Construction Manager and paid for from the Construction Contingency Fund.

  • It is understood by the parties that it is the intention of both parties that no amount more than the amount of the GMP Cost Summary statement amount as defined in Section 2.2 and as identified in Section 3.3 above, which includes the Construction Contingency Fund is to be expended by the District, unless there are Changes in the Work as provided in this Agreement.