Developer Contingency definition

Developer Contingency means a line item in the Soft Cost Budget in an amount equal to the Developer Contingency Amount to be utilized for the payment of Hard Cost and Soft Cost contingencies.
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Developer Contingency means an amount equal to Six Percent (6%) of the Cost of the Work (excluding fees paid to Developer), which shall be included in each GMP and controlled by Developer but used only to pay for (a) Costs of the Work (which shall not include -6- 16200.002-2444287 any Excluded Costs), subject to County’s approval, which shall not be withheld unreasonably, or
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Developer Contingency means the amount identified as the Developer Contingency in the Budget.
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Examples of Developer Contingency in a sentence

  • Project’s Developer Contingency will not be used for changes in scope or for any item that would be the basis for an increase in the GMP.

  • Owner acknowledges that Manager has the right, without approval by Owner, to apply the Developer Contingency to the payment of the Developer Guaranteed Costs and that Owner has no right to direct the application of funds in the Developer Contingency to the payment of any other costs (including, without limitation, offsite development costs).

  • Each Final GMP for a Project will include a category for Developer Contingency in the amount of two percent (2%) of Developer’s managed costs, and a Design Builder's contingency in the amount of five percent (5%) of the Design Builder's Managed Costs.

  • Once all conditions satisfied or waived, Developer to deliver Developer Contingency Satisfaction Notice.

  • The Developer Contingency is not intended for such things as “Scope Changes” as further described in Article 2.

  • Developer may upon approval by City, revise the Construction Budget from time to time to move amounts available under the Developer Contingency items in the Construction Budget to any Line Item designated as “Cost Savings Contingency” and to Line Items other than the Developer Contingency Line Items.

  • Developer Contingency of seven point five percent (7.5%) of the Cost of the Work as described in Article 2.1.1 for potential additional construction costs for unforeseen construction costs that occur over the course of construction and/or scope gaps between the subcontract categories of the Work.


More Definitions of Developer Contingency

Developer Contingency means with respect to any NCF Phase an amount equal to 5% of the Cost of the Work (excluding fees paid to Developer), which shall be included in each GMP and may be used by Developer in its discretion to pay for Costs of the Work (which shall not include any Developer NDEC Costs (as defined below) or other Excluded Costs), subject to County’s approval, which shall not be withheld unreasonably, including (a) costs of Remediation of any Newly Discovered Environmental Conditions (other than any Developer Release) in excess of PLL-Policy Covered Costs and/ or (b) resulting from Change Orders to the extent same do not result in an increase in the GMP and are not covered by Contractor Contingency. Any unexpended portion of the Developer Contingency that is not paid to Contractor pursuant to its Construction Contract shall not be included in calculation of the Savings. (C) Savings Following Satisfaction of the FPPC Condition. Following satisfaction of the FPPC Condition: (1) The following shall be added to Section 8.07(D)(8) as subsections (e) and (f):
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