Amount of Final Payment. The amount of the final payment shall be calculated as follows: a. Take the Cost of the Work, calculated in accordance with this Contract, but not to exceed the GMP; b. Subtract amounts, if any, County deducts or withholds in accordance with Section 1.07.B.16 or in accordance with other specific provisions of this Contract; c. Subtract the aggregate of previous progress payments made by County. d. If the aggregate of previous payments made by County is less than the amount due Contractor, County shall pay the difference to Contractor. e. If the aggregate of previous payments made by County exceeds the amount due Contractor, Contractor shall pay the difference to County.
Appears in 10 contracts
Sources: Contract, Contract for Design Build Services, Contract
Amount of Final Payment. The amount of the final payment shall be calculated as follows:
a. Take the Cost of the Work, calculated in accordance with this Contract, but not to exceed the GMP;
b. Subtract amounts, if any, County deducts or withholds in accordance with Section 1.07.B.16 or in accordance with other specific provisions of this Contract;Contract;
c. Subtract the aggregate of previous progress payments made by County.
d. If the aggregate of previous payments made by County is less than the amount due Contractor, County shall pay the difference to Contractor.Contractor.
e. If the aggregate of previous payments made by County exceeds the amount due Contractor, Contractor shall pay the difference to County.
Appears in 1 contract
Sources: Contract for Design Build Services
Amount of Final Payment. The amount of the final payment shall be calculated as follows:
a. Take the Cost of the Work, calculated in accordance with this Contract, but not to exceed the GMP;
b. Subtract amounts, if any, County deducts or withholds in accordance with Section 1.07.B.16 or in accordance with other specific provisions of this Contract;
c. Subtract the aggregate of previous progress payments made by County.
d. If the aggregate of previous payments made by County is less than the amount due Contractor, County shall pay the difference to Contractor.Contractor.
e. If the aggregate of previous payments made by County exceeds the amount due Contractor, Contractor shall pay the difference to County.
Appears in 1 contract
Sources: Design Build Contract