Examples of Construction Contract in a sentence
The Owner reserves the right to accept a proposal and award a construction contract that exceeds the Final Amount Available for the Construction Contract, if such award is determined by Owner to be in the Owner’s best interest.
All Delay Liquidated Damages and Performance Liquidated Damages that were due and payable as of the Project Phase 2 Completion Date under each Material Construction Contract (excluding any damages that are the subject of a dispute) in excess of $10,000,000, shall have been deposited into the appropriate Account(s) and applied as set forth in the Common Security and Account Agreement.
The budget will include the Amount Available for the Construction Contract, contingencies for changes in the Work during construction, and other costs which are the responsibility of the Owner.
The Architect/Engineer will be responsible for managing the design to stay within such Guaranteed Maximum Price proposal or Amount Available for the Construction Contract.
All Delay Liquidated Damages and Performance Liquidated Damages that were due and payable as of the Project Completion Date under each Material Construction Contract (excluding any damages that are the subject of a dispute) in excess of five ($5) million, shall have been deposited into the appropriate Account(s) and applied as set forth in the Common Security and Account Agreement.