Guaranteed maximum cost definition

Guaranteed maximum cost means the total cost of the
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Guaranteed maximum cost. ("GMC") shall have the meaning set forth in Section I.B.3.c. "Improvements" shall have the meaning set forth in Section I.A.1.
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Guaranteed maximum cost means the Costs of the Work (as defined in Section 4.1) plus the Contractor’s Fixed Fee (as defined in Section 3.3) guaranteed by the Contractor not to exceed the amount stated in the applicable Work Authorization. Accordingly, after the date on which the Construction Documents for the subject Project Phase are eighty percent (80%) complete for filing with the appropriate Governmental Authority so as to commence the permit application process or are sufficiently complete to enable Contractor to award Subcontracts for the major trades (all as determined by Owner), Contractor shall submit to Owner a statement for the Guaranteed Maximum Cost for such Project Phase, which statement shall be broken down in such detail as Owner reasonably may request and shall include (i) the Subcontract Costs to be incurred by Contractor for the proposed Work; (ii) all General Conditions Costs and Reimbursable Costs for the proposed Work; (iii) the Fixed Fee to be incurred; (iv) the Contingency in the amount set forth in Section 3.5 hereof; the Progress Schedule as set forth in ARTICLE 6; the daily liquidated damages amount and cap; the OCIP reconciliation; and Contractor’s list of assigned supervisory personnel. Such submission shall be supported by a detailed estimate, clearly indicating and itemizing the cost and scope of each element of the proposed Work, consistent in format with previous submissions of the construction budget, anticipated cost reports and other cost estimates submitted to Owner and clearly indicating and justifying any changes thereto.
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Examples of Guaranteed maximum cost in a sentence

  • We also use these tables in determining Guaranteed Maximum Cost of Insurance Charges.

  • The cost of insurance rates will never be greater than shown in the Table of Guaranteed Maximum Cost of Insurance Rates on the current Data Pages.

  • Basis of ComputationThe Cost of Insurance Rates are guaranteed to be no greater than those calculated as described in the Table of Guaranteed Maximum Cost of Insurance Rates in Section 2.

  • We may change the cost of insurance rates but never in excess of those shown in the Table of Guaranteed Maximum Cost of Insurance Rates.

  • The Monthly Guaranteed Maximum Cost of Insurance Rates are shown in the Monthly Guaranteed Maximum Cost of Insurance Rates Table as shown in the policy to which this rider is attached.

  • The cost of insurance rates will never be greater than those shown on the current Data Pages in the Table of Guaranteed Maximum Cost of Insurance Rates for Accidental Death Benefits.

  • The rate used in computing the cost of insurance is obtained from the Table of Guaranteed Maximum Cost of Insurance Rates on the Schedule Page for the risk classification(s) shown, or such lower rate as We may declare.

  • If the Insured is in a rated Premium Class, the Guaranteed Maximum Cost of Insurance Rates shown in the table below will be adjusted to reflect the applicable Risk Factor and/or Flat Extra Monthly Insurance Cost, if any, shown in the Policy Specifications as described in the Cost of Insurance Rates provision.

  • The rate used in computing the cost of insurance is obtained from the Table of Guaranteed Maximum Cost of Insurance Rates on the Schedule Page for the risk classification(s) shown, or such lower rate as we may declare.

  • If the Insured is in a rated Premium Class, the Guaranteed Maximum Cost of Insurance Rates shown in the table below will be adjusted to reflect the applicable Risk Factor and/or Flat Extra Monthly Insurance Cost, if any, shown in the Policy Specifications.


More Definitions of Guaranteed maximum cost

Guaranteed maximum cost means the Costs of the Work (as defined in Section 4.1), plus Contractor Controlled Contingency and Owner Controlled Contingency (as such terms are defined in Section 3.5), plus the Contractor’s Fixed Fee (as defined in Section 3.3) guaranteed by the Contractor not to exceed the amount stated in the applicable Work Authorization. Accordingly, after the date on which the Construction Documents for the subject Project Phase are eighty percent (80%) complete for filing with the appropriate Governmental Authority so as to commence the permit application process or are sufficiently complete to enable Contractor to award Subcontracts for the major trades (all as determined by Owner), Contractor shall submit to Owner a statement for the Guaranteed Maximum Cost for such Project Phase, which statement shall be broken down in such detail as Owner reasonably may request and shall include (i) the Subcontract Costs and Self Performed Work Costs to be incurred by Contractor for the proposed Work; (ii) all General Conditions Costs and Reimbursable Costs for the proposed Work; (iii) the Fixed Fee to be incurred; (iv) the Contingency in the amount set forth in Section 3.5 hereof; (v) the Progress Schedule as set forth in ARTICLE 6 (vi) the daily liquidated damages amount and cap; (vii) the OCIP reconciliation; and (viii) the Contractor’s list of assigned supervisory personnel and list of Subcontractors. Such submission shall be supported by a detailed estimate, clearly indicating and itemizing the cost and scope of each element of the proposed Work, consistent in format with previous submissions of the construction budget, anticipated cost reports and other cost estimates submitted to Owner and clearly indicating and justifying any changes thereto.
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Related to Guaranteed maximum cost

  • Guaranteed Maximum Price or “GMP” means the amount proposed by Contractor and accepted by Owner as the maximum cost to Owner for construction of the Project in accordance with this Agreement. The GMP includes Contractor’s Construction Phase Fee, the General Conditions Cost, the Cost of the Work, and Contractor’s Contingency amount.

  • Maximum Guaranteed Amount means as of the date of determination with respect to a Guarantor, the lesser of (a) the amount of the Guaranteed Obligations outstanding on such date and (b) the maximum amount that would not render such Guarantor’s liability under this Guaranty Agreement subject to avoidance under Section 548 of the United States Bankruptcy Code (or any successor provision) or any comparable provision of applicable state law.

  • Maximum Premium has the meaning set forth in Section 7.06(b).

  • Guaranteed Sum means: The maximum aggregate amount of R

  • Guaranteed Amount means the aggregate amount of each Guaranteed Debt that is guaranteed at any time by Partner Guarantors.

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

  • Maximum Daily Quantity means the daily volume of Gas or Liquids, expressed in 103m3, identified in a Shipper's Interruptible Transportation Service Agreement that Transporter agrees to receive from Shipper under Toll Schedule Interruptible Full Path Service, Toll Schedule Interruptible Receipt Service or Toll Schedule Interruptible Delivery Service, as applicable.

  • Minimum Collateral Amount means, at any time, (i) with respect to Cash Collateral consisting of cash or deposit account balances, an amount equal to 103 % of the Fronting Exposure of all LC Issuing Banks with respect to Letters of Credit issued and outstanding at such time and (ii) otherwise, an amount determined by the Administrative Agent and the LC Issuing Banks in their sole discretion.

  • Maximum Cap Rate For any Distribution Date with respect to the Group I Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average of the Expense Adjusted Maximum Mortgage Rates of the Group I Mortgage Loans, weighted based on their outstanding Principal Balances as of the first day of the calendar month preceding the month in which the Distribution Date occurs and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12. For any Distribution Date with respect to the Group II Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average of the Expense Adjusted Maximum Mortgage Rates of the Group II Mortgage Loans, weighted based on their outstanding Principal Balances as of the first day of the calendar month preceding the month in which the Distribution Date occurs and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12. For any Distribution Date with respect to the Mezzanine Certificates, a per annum rate equal to the product of (x) the weighted average (weighted on the basis of the results of subtracting from the aggregate Stated Principal Balance of the applicable Loan Group, the current Certificate Principal Balance of the related Class A Certificates) of the Maximum Cap Rate for the Group I Certificates and the Maximum Cap Rate for the Group II Certificates and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period.

  • Maximum Contract Value means the amount specified in the "Limitation of Expenditure" clause set out in the Contract; and

  • Maximum contaminant level means the maximum permissible level of a contaminant in water which is delivered to any user of a public water system.

  • Minimum Charge means the higher of the rate minimum and the rate applied to the Contracted Minimum Demand;

  • Maximum Facility Output means the maximum (not nominal) net electrical power output in megawatts, specified in the Interconnection Service Agreement, after supply of any parasitic or host facility loads, that a Generation Interconnection Customer’s Customer Facility is expected to produce, provided that the specified Maximum Facility Output shall not exceed the output of the proposed Customer Facility that Transmission Provider utilized in the System Impact Study. Maximum State of Charge:

  • Maximum Applied Water Allowance (MAWA) means the upper limit of annual applied water for the established landscaped area as specified in Section 492.4. It is based upon the area's reference evapotranspiration, the ET Adjustment Factor, and the size of the landscape area. The Estimated Total Water Use shall not exceed the Maximum Applied Water Allowance. Special Landscape Areas, including recreation areas, areas permanently and solely dedicated to edible plants such as orchards and vegetable gardens, and areas irrigated with recycled water are subject to the MAWA with an ETAF not to exceed 1.0. MAWA = (ETo) (0.62) [(ETAF x LA) + ((1-ETAF) x SLA)]

  • Guaranteed Amounts means the amounts due from time to time from the Issuer to (i) the Covered Bondholders with respect to each Series of Covered Bonds (excluding any additional amounts payable to the Covered Bondholders under Condition 9(a) (Gross-up by the Issuer)) and (ii) the Other Issuer Creditors pursuant to the relevant Transaction Documents.

  • Guaranteed Substantial Completion Date or “Guaranteed Substantial Completion Dates” has the meaning set forth in Section 5.3B.

  • Maximum contaminant level goal or “MCLG” means the maximum level of a contaminant in drinking water at which no known or anticipated adverse effect on the health of persons would occur, and which allows an adequate margin of safety. MCLGs are nonenforceable health goals.

  • Maximum Face Amount means, with respect to any outstanding Letter of Credit, the face amount of such Letter of Credit including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective.

  • Maximum contaminant level (MCL) means the maximum permissible level of a contaminant in water which is delivered to any user of a public water system.

  • Maximum Daily Limit means the maximum allowable "Daily Concentration" (defined above) when expressed as a concentration (e.g. mg/l), otherwise, it means the maximum allowable "Daily Quantity" as defined above, unless it is expressed as a flow quantity. If expressed as a flow quantity it means "Maximum Daily Flow" as defined in Section 22a-430-3(a) of the RCSA.

  • Guaranteed elements means the premiums, credited interest rates (including any bonus), benefits, values, non-interest-based credits, charges, or elements of formulas used to determine any of these elements, that are guaranteed and determined at issue. An element is considered guaranteed if all of the underlying elements that go into its calculation are guaranteed.

  • Excess Collateral Amount means, at any time, the excess of (a) the sum of (i) the Collateral Amount, and (ii) the Principal Accumulation Account Balance, over (b) the Note Principal Balance.

  • Maximum Credit means, at any time, (a) the lesser of (i) the Revolving Credit Commitments in effect at such time and (ii) the Borrowing Base at such time minus (b) the aggregate amount of any Availability Reserve in effect at such time.

  • Maximum Facility Amount means the aggregate Commitments as then in effect, which amount shall not exceed $200,000,000; provided that at all times after the Reinvestment Period, the Maximum Facility Amount shall mean the aggregate Advances Outstanding at such time.

  • Maximum Concentration Level Assessment means the Maximum Concentration Level Assessment for the purposes of a Basic Comprehensive Certificate of Approval, described in the Basic Comprehensive User Guide, prepared by a Toxicologist using currently available toxicological information, that demonstrates that the concentration at any Point of Impingement for a Compound of Concern that does not have a Ministry Point of Impingement Limit is not likely to cause an adverse effect as defined by the EPA. The concentration at Point of Impingement for a Compound of Concern must be calculated in accordance with O. Reg. 419/05.