Common use of Ceiling price Clause in Contracts

Ceiling price. This subcontract is priced on a Time-and-Materials basis. The Ceiling Price for all work called for under this subcontract is Thirty-Eight Million Five Hundred Thousand Dollars ($38,500,000.00). Payments will be made to SUBCONTRACTOR in accordance with the prices set forth in Exhibit “C” and with the payment provisions of this subcontract. The SUBCONTRACTOR waives its right to monies to which it might otherwise have been entitled for any amount expended in excess of the ceiling price.

Ceiling price. This subcontract is priced on a Time-and-Materials basis. The Ceiling Price for all work called for under this subcontract is Thirty-Eight Million Five Seven Hundred Thousand Dollars ($38,500,000.00$ 8,700,000.00). Payments will be made to SUBCONTRACTOR in accordance with the prices set forth in Exhibit “C” and with the payment provisions of this subcontract. The SUBCONTRACTOR waives its right to monies to which it might otherwise have been entitled for any amount expended in excess of the ceiling price.