Initial Guaranteed Maximum Price (IGMP) definition

Initial Guaranteed Maximum Price (IGMP) means the maximum construction budget agreed upon by Owner and Construction Manager prior to establishment of the FGMP, as specified in Paragraph 5.1.
Sample 1

Examples of Initial Guaranteed Maximum Price (IGMP) in a sentence

  • At the completion of the Design Development Phase or at such time as NMSU may specify to the Design Professional, NMSU, Design Professional and XXXX must agree on an Initial Guaranteed Maximum Price (IGMP) based upon the documents prepared in the Design Development Phase by the Design Professional and approved by NMSU.

  • With regard to each preliminary cost estimate CM is required to provide, including the pricing for the Initial Guaranteed Maximum Price (IGMP) and GMP Proposals for each Work Package as required in Section 7.4.1 below, the CM shall provide a Cost Management Report that compares Owner’s Construction Cost Limitation for the Work to CM’s estimated construction costs.

  • The undersigned further agrees to provide pre-construction services necessary to prepare an Initial Guaranteed Maximum Price (IGMP) based upon design documents and a Final Guaranteed Maximum Price (FGMP) based upon completion of construction documents.

  • This is too early for a contractor to provide an Initial Guaranteed Maximum Price (IGMP) with fixed general conditions and fee which was requested in the RFP document.

  • The total of all three PGMPs is contractually required to be less than or equal to the Initial Guaranteed Maximum Price (IGMP) approved by City Council.

  • Once this collective effort is complete, the CMGC will propose an Initial Guaranteed Maximum Price (IGMP) for the Project.

  • It was also recently revealed that some former employees at the Swedish Migration Board in the city of Malmö are suspected of having sold residence permits (possibly including false offers of employment).

  • CMGC Fee Proposal: What CMGC contingency as a percentage of the construction cost is required as a result of the firm’s recommendation on the Initial Guaranteed Maximum Price (IGMP).

  • An Initial Guaranteed Maximum Price (IGMP) will be agreed upon by the County and the CMGC in consultation with the Architect based on RFP responses and subsequent negotiations and will form the basis of the Pre‐Construction Contract Agreement.

  • This is illustrated by the increase of the number of employees, the average salaries in the sector, and its export volumes.

Related to Initial Guaranteed Maximum Price (IGMP)

  • 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 Price means an amount (excluding related brokerage, commission, applicable goods and services tax, stamp duties, clearance fees and other related expenses) which may be paid for an ordinary share purchased or acquired by us pursuant to the mandate contained in paragraph (a) above, not exceeding, in the case of a market purchase of an ordinary share, the highest independent bid or the last independent transaction price, whichever is higher, of our ordinary shares quoted or reported on the NASDAQ Global Select Market or the securities exchange operated by JSE Limited (the “JSE”), as the case may be, or shall not exceed any volume weighted average price, or other price determined under any pricing mechanism, in compliance with the requirements under Rule 10b-18 under the Exchange Act, at the time the purchase is effected; and

  • Minimum Price shall have the meaning set forth in Section 7.2(b)(ii).

  • Contract Price(s) means the price(s) tendered by the contractor and accepted by the Council for the execution of the contract.

  • Maximum Program Amount means Common Shares with an aggregate Sales Price of the lesser of (a) the number or dollar amount of Common Shares registered under the effective Registration Statement (defined below) pursuant to which the offering is being made, (b) the number of authorized but unissued Common Shares (less Common Shares issuable upon exercise, conversion or exchange of any outstanding securities of the Company or otherwise reserved from the Company’s authorized capital stock), (c) the number or dollar amount of Common Shares permitted to be sold under Form S-3 (including General Instruction I.B.6 thereof, if applicable), or (d) the number or dollar amount of Common Shares for which the Company has filed a Prospectus (defined below).

  • Contract Price means the price payable to the supplier under the contract for the full and proper performance of his contractual obligations.

  • 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.

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

  • Unit Price Work means the Work, or a portion of the Work, paid for based on incremental units of measurement.

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

  • Maximum design heat input means the ability of a unit to combust a stated maximum amount of fuel per hour on a steady state basis, as determined by the physical design and physical characteristics of the unit.

  • Maximum Put Amount means the lesser of (i) Two Hundred Fifty Thousand Dollars ($250,000), or (ii) Two Hundred Fifty percent (250%) of the average of the Dollar Volume for the twenty (20) Trading Days immediately preceding the Put Date.

  • Total Contract Price means the total set out in "Tender Document Form: Contract Prices".

  • 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.

  • Completion Rate means the percentage of an apprenticeship cohort who receives a certificate of apprenticeship completion within 1 year of the projected completion date. An apprenticeship cohort is the group of individual apprentices registered to a specific program during a 1 year time frame, except that a cohort does not include the apprentices whose apprenticeship agreement has been cancelled during the probationary period or who have transferred.

  • Total Contract Price/Project Cost/TCO means the price payable to Service Provider over the entire period of Contract for the full and proper performance of its contractual obligations.

  • Original contract price means the award price of the contract; or, for requirements contracts, the price payable for the estimated total quantity; or, for indefinite-quantity contracts, the price payable for the specified minimum quantity. Original contract price does not include the price of any options, except those options exercised at the time of contract award.

  • Total Contract Price/Project Cost/TCO means the price payable to Service Provider over the entire period of Contract for the full and proper performance of its contractual obligations.

  • 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.

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

  • 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.

  • VWAP Minimum Price Threshold means, with respect to any particular VWAP Purchase Notice, the Sale Price on the VWAP Purchase Date equal to the greater of (i) 80% of the Closing Sale Price on the Business Day immediately preceding the VWAP Purchase Date or (ii) such higher price as set forth by the Company in the VWAP Purchase Notice.

  • Guaranteed Sum means: The maximum aggregate amount of R

  • 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.

  • Cost price means the actual cost of an item or article of tangible personal property computed in the

  • Maximum Principal Amount the meaning set forth in Section 2.1(a).