Examples of Work Amendment in a sentence
Construction Phase means the period that begins when Owner executes a GMP Amendment or Early Work Amendment, together with theearlier of (i) issuance by Owner of a Notice to Proceed with any on-site construction or (ii) execution of a subcontract or issuance of a purchase order for materials or equipment required for theWork.
If the CM/GC does not furnish a GMP acceptable to Owner within Owner's Target GMP Range (stated on the cover page of this CM/GC Contract), or if Owner determines at any time in its sole discretion that the parties may fail to reach a timely agreement on a GMP acceptable to Owner, Owner may terminate the Contract without liability, and the CM/GC shall notreceive additional compensation beyondthe Preconstruction Fee under the Contract and sums due under any Early Work Amendment.
Upon such termination, the amount to be paid to the CM/GC shall not exceed the Preconstruction Fee payable to the date of termination, together with amounts payable for Early Work if an Early Work Amendment has been executed.
A separate Notice to Proceed shall be issued for any and every Early Work Amendment.
Early Work Amendment means an Amendment to the Contract executed by and between the parties to authorize Early Work.
Owner shall pay the CM/GC the Preconstruction Fee described in Article 6.2. In addition, for each Early Work Amendment executed by the CM/GC and Owner, Owner shall pay the CM/GC, as payment for the Early Work, an amount equal to the sum of the CM/GC Fee attributable to the Early Work, and the actual cost of all Early Work completed and accepted by Owner, but not exceeding the Early Work Price.
The maximum not- to-exceed amount for GC Work shall be established in each Early Work Amendment or the GMP Amendment, as applicable.