GMP Cost Limitation definition

GMP Cost Limitation. The maximum amount allowable for the Guaranteed Maximum Price shall in no event exceed the following amount: AND /100 DOLLARS ($ ) amount: Design Fee: The Design Fee component of the Design-Builder Fee shall in no event exceed the following AND /100 DOLLARS ($ )
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Examples of GMP Cost Limitation in a sentence

  • GMP Cost Limitation does not include design costs, Owner contingency, or Site acquisition costs.

  • The Guaranteed Maximum Price shall not be in excess of the GMP Cost Limitation.

  • Notwithstanding this overriding public policy, in the event that the Design Professional finds, in its opinion, that the price will potentially exceed the GMP Cost Limitation, the Design Professional shall immediately stop work and give written notice to the Owner, who will either revise the budget to increase the GMP Cost Limitation or direct the Design Professional to reduce the scope of the Project.

  • To the extent the Statement of Probable Construction Cost significantly deviates from the GMP Cost Limitation, the Design Professional shall discuss the deviations with the Owner and prepare and submit a plan to address the differences.

  • It shall be the responsibility of the Design Professional to design the Project so that the GMP or lump sum fixed price will not exceed the GMP Cost Limitation.

  • In the event the Statement of Probable Construction Cost, as updated by the Design Professional at the completion of each phase of Basic Services, exceeds the GMP Cost Limitation, the Owner may at its discretion modify the Owner’s requirements sufficiently to permit balancing the Statement of Probable Construction Cost with the GMP Cost Limitation.

  • The GMP Cost Limitation does not include the cost of fixtures, furniture, or equipment unless expressly stated in the Project Development File or Program.

  • Fixtures, furniture, or equipment not included in the Project Development File or Program may be added as a design requirement and included in the GMP Cost Limitation by an amendment to this Contract.

  • Require the Design Professional, without additional compensation, to revise the Construction Documents to reduce the Cost of the Work to the original GMP Cost Limitation, with the Owner reducing the CM/GC non-construction services to reduce the GMP to the GMP Cost Limitation.

  • If the Owner agrees to a Guaranteed Maximum Price that exceeds the GMP Cost Limitation, then the GMP Cost Limitation shall be thereafter equal to the Guaranteed Maximum Price but there shall be no increase in the compensation of Design Professional under this Agreement as a result of such change to the GMP Cost Limitation.

Related to GMP Cost Limitation

  • Maximum allowable cost list means a list of drugs for

  • Administrative Cost Rate As of any date of determination, a rate equal to the sum of the Servicing Fee Rate, the Operating Advisor Fee Rate, the Asset Representations Reviewer Ongoing Fee Rate, the CREFC® Intellectual Property Royalty License Fee Rate and the Trustee/Certificate Administrator Fee Rate.

  • Support Cost Rate means the flat rate at which the Partner will be reimbursed by UN Women for its Support Costs, as set forth in the Partner Project Document and not exceeding a rate of 8% or the rate set forth in the Donor Specific Conditions, if that is lower. The flat rate is calculated on the eligible Direct Costs.

  • Cost of Living Adjustment or “COLA” means a percentage-based general wage increase adjustment provided in accordance with this memorandum of agreement. COLA is an upward adjustment applied to and folded into all wage rates. The "annualized average of BC CPI over twelve months” (AABC CPI) means the Latest 12-month Average Index % Change reported by BC Stats in March for British Columbia for the twelve months starting at the beginning of March in the preceding year and concluding at the end of the following February. The “Latest 12-month Average Index”, as defined by BC Stats, is a 12-month moving average of the BC consumer price indexes of the most recent 12 months. This figure is calculated by averaging index levels over the applicable 12 months. The Latest 12-month Average Index % Change is reported publicly by BC Stats in the monthly BC Stats Consumer Price Index Highlights report. The BC Stats Consumer Price Index Highlights report released in mid-March will contain the applicable figure for the 12 months concluding at the end of February. The percentage change reported by BC Stats that will form the basis for determining any COLA increase is calculated to one decimal point. For reference purposes only, the annualized average of BC CPI over 12 months from March 1, 2021 to February 28, 2022 was 3.4%.

  • Plantwide applicability limitation (PAL means an emission limitation expressed in tons per year, for a pollutant at a major stationary source, that is enforceable as a practical matter and established source-wide in accordance with Chapter 19, section 011.

  • Manufacturing Cost means ***

  • Indirect Cost Rate means a device for determining in a reasonable manner the proportion of indirect costs each Program should bear. It is a ratio (expressed as a percentage) of the Indirect Costs to a Direct Cost base. If reimbursement of Indirect Costs is allowable under an Award, Grantor will not reimburse those Indirect Costs unless Grantee has established an Indirect Cost Rate covering the applicable activities and period of time, unless Indirect Costs are reimbursed at a fixed rate.

  • Standard Cost means any cost computed with the use of preestablished measures.

  • Maximum allowable residential density means the density allowed under the zoning ordinance and land use element of the general plan, or if a range of density is permitted, means the maximum allowable density for the specific zoning range and land use element of the general plan applicable to the project. Where the density allowed under the zoning ordinance is inconsistent with the density allowed under the land use element of the general plan, the general plan density shall prevail.

  • Trip Cost means the dollar amount of Trip payments or deposits paid by the Insured prior the Insured’s Trip Departure Date and shown on any required application which is subject to cancellation penalties or restrictions. Trip cost will also include the cost of any subsequent pre-paid payments or deposits paid by the Insured for the same Trip, after application for coverage under this plan provided the Insured amends the Application to add such subsequent payments or deposits and pays any required additional plan cost prior to the Insured’s Departure Date.

  • Start-Up Costs means all fees, costs, and expenses incurred in connection with establishing the State Mitigation Trust and the Indian Tribe Mitigation Trust and setting them up for operation. Start-up costs shall not include the cost of premiums for insurance policies.

  • Estimated Construction Cost or “ECC” means the amount calculated by Contractor for the total cost of all elements of the Work based on this Agreement available at the time(s) that the ECC is prepared. The ECC shall be based on current market rates with reasonable allowance for overhead, profit and price escalation and shall include and consider, without limitation, all alternates and contingencies, designed and specified by A/E and the cost of labor and materials necessary for installation of Owner furnished equipment. The ECC shall include all the cost elements included in the AACC, as defined above, and shall represent Contractor’s best current estimate of the Guaranteed Maximum Price it will propose for the Project based on the information then available. The ECC shall not include Contractor’s Pre-Construction Phase Fee, A/E’s Fees, the cost of the land and rights-of-way, or any other costs that are the direct responsibility of Owner.

  • Additional Transportation Cost means the actual cost incurred for one-way Economy Transportation by Common Carrier reduced by the value of an unused travel ticket.

  • Cleanup costs means expenses (including but not limited to legal and professional fees) incurred in testing for, monitoring, cleaning up, removing, containing, treating, neutralizing, detoxifying or assessing the effects of Pollutants.

  • Fully Burdened Manufacturing Cost means, with respect to any Licensed Product supplied by or on behalf of NVCR to Zai hereunder if such Licensed Product (or any precursor or intermediate thereof) is manufactured by a Third Party manufacturer [***].

  • Maximum allowable cost means the maximum amount that a pharmacy benefit manager will reimburse a pharmacy for the cost of a drug.

  • Maximum Special Tax means the maximum Special Tax, determined in accordance with Section C below, that can be levied in any Fiscal Year on any Assessor’s Parcel.

  • The Contract Price/Project Cost means the price payable to the Vendor under the Contract for the full and proper performance of its contractual obligations.

  • Cost-plus-a-percentage-of-cost contract means a contract under which the contractor is paid a percentage of the total actual expenses or costs in addition to the contractor's actual expenses or costs.

  • Minimum Lifetime Mortgage Rate The minimum level to which a Mortgage Interest Rate can adjust in accordance with its terms, regardless of changes in the applicable Index.

  • Life-cycle cost means the expected total cost of ownership during the life of a product, including disposal costs.

  • Development Cost means the total of all costs incurred in the completion of a Development excluding Developer Fee, operating deficit reserves, and total land cost as typically shown in the Development Cost line item on the development cost pro forma.

  • Direct Cost means a cost not to exceed the cost of labor, material, travel and other expenditures to the extent the costs are directly incurred to provide the relevant assistance or service. “Direct Cost” to the Acquirer for its use of any of a Respondent’s employees’ labor shall not exceed the average hourly wage rate for such employee;

  • Routine Patient Costs means all health care services that are otherwise covered under the Group Contract for the treatment of cancer or other Life-threatening Condition that is typically covered for a patient who is not enrolled in an Approved Clinical Trial.

  • Additional Cost Rate has the meaning given to it in Schedule 4 (Mandatory Cost formulae).

  • Administrative cost means a fee imposed to cover: