Not-to-Exceed Price definition

Not-to-Exceed Price means the maximum amount payable to the Contractor for the performance of the Work under a Time-and-Materials (T&M) Contract.
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Not-to-Exceed Price means the maximum amount payable to the Contractor for the performance of the Work under a Time-and-Materials (T&M) Contract. This term is not relevant for contracts that are not Time-and-Materials (T&M) Contracts.
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Not-to-Exceed Price means the maximum amount payable to the Contractor for the performance of the Work under a Time‐and‐Materials (T&M) Contract.
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Examples of Not-to-Exceed Price in a sentence

  • The work shall be performed for the Fixed price, Annual price, Monthly price or Hourly rate as indicated above in the variable information table, but shall not exceed the Not-to-Exceed Price if included in the variable information table.

  • If at any time during performing this Contract, the Contractor has reason to believe that the total price to Princeton University for performing this Contract will be substantially greater or less than stated Not-to-Exceed Price, the Contractor shall so notify Princeton University, giving a revised estimate of the total price for performing this Contract, with supporting reasons and documentation.

  • If at any time the Contractor has reason to believe that the hourly rate payments and material costs that will accrue in performing this Contract in the next succeeding thirty (30) days, if added to all other payments and costs previously accrued, will exceed eighty-five percent (85%) of the Not-to-Exceed Price in the Contract, the Contractor shall notify Princeton University giving a revised estimate of the total price for performing this Contract with supporting reasons and documentation.

  • If at any time during performance of this Contract, Princeton University has reason to believe that the cost required to perform the Work of this Contract will be substantially greater or less than the stated Not-to-Exceed Price, Princeton University will so advise the Contractor, giving the then- revised estimate of the total amount of effort to be required under the Contract.

  • It is estimated that the total cost to Princeton University for the performance of this Contract shall not exceed the Not-to-Exceed Price set forth in the Contract and the Contractor agrees to use its best efforts to perform the Work specified in the Contract and all obligations under this Contract within such Not-to- Exceed Price.

  • Under a Time-and-Materials (T&M) Contract, the Not-to-Exceed Price, as it may be adjusted by Change Order.

  • The work shall be performed for the Not-to-Exceed Price included in the variable information table.

  • Term Definition Not-to-Exceed Price (NTE) The bid prices provided by the Bidder in response to this Solicitation and awarded for the Centralized Contract.

  • When and to the extent that the Not-to-Exceed Price has been increased, any hours expended and material costs incurred by the Contractor in excess of the Not-to-Exceed Price before the increase shall be allowable to the same extent as if the hours expended and material costs had been incurred after the increase in the Not-to-Exceed Price.

  • Under a Time-and-Materials (T&M) Contract, the Not-to-Exceed Price.


More Definitions of Not-to-Exceed Price

Not-to-Exceed Price means the "not to exceed" amount set forth in an order for a Project. "Project" means the Services performed by Supplier pursuant to a single order.
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Not-to-Exceed Price. (NTE Price) means the maximum price to invoice by CONTRACTOR for Services according the Workscope defined under Appendix A1. Any Services excluded from Fixed Price shall be paid by Customer according to Appendix B2 and B4.
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Not-to-Exceed Price means US $235.70/MWhr beginning in 2012 and subject to escalation on each Escalation Date pursuant to Exhibit E.
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Not-to-Exceed Price has the meaning assigned thereto in Section 5.3.
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Related to Not-to-Exceed Price

  • Selling Price means the same meaning as in RCW 82.08.010, except that when the product is sold under circumstances where the to- tal amount of consideration paid for the product is not indicative of its true value. Selling price means the true value of the product sold as determined or agreed to by the WSLCB. For purposes of this subsec- tion:

  • Strike Price means, except as otherwise provided by the Committee in the case of Substitute Awards, (i) in the case of a SAR granted in tandem with an Option, the Exercise Price of the related Option, or (ii) in the case of a SAR granted independent of an Option, the Fair Market Value on the Date of Grant.

  • Fixed Price means the fixed prices for ancillary Services as may be agreed by the Parties and set out in the SOW; FOIA means the Freedom of Information Xxx 0000 and any subordinate legislation made under that Act from time to time together with any guidance and/or codes of practice issued by the Information Commissioner or relevant government department in relation to such legislation;

  • Salvage value means the amount received for property retired, less any expenses incurred in connection with the sale or in preparing the property for sale, or, if retained, the amount at which the material recoverable is chargeable to materials and supplies, or other appropriate account.