Common use of Failure to Accept the GMP Proposal Clause in Contracts

Failure to Accept the GMP Proposal. Unless Owner accepts the GMP Proposal in writing on or before the date specified in the GMP Proposal for such acceptance and so notifies Private Entity, the GMP Proposal shall not be effective. If Owner fails to accept the GMP Proposal, or rejects the GMP Proposal, Owner shall have the right to: 2.7.5.1 Request modifications to the GMP Proposal. If such modifications are accepted in writing by Private Entity, the GMP Proposal shall be deemed accepted in accordance with §2.7.4; 2.7.5.2 Direct Private Entity to proceed on the basis of reimbursement as provided in ARTICLE 7 and ARTICLE 8 without a GMP, in which case all references in this Agreement to the GMP shall not be applicable; or

Failure to Accept the GMP Proposal. Unless Owner accepts the GMP Proposal in writing on or before the date specified in the GMP Proposal for such acceptance and so notifies Private Entity, the GMP Proposal shall not be effective. If Owner fails to accept the GMP Proposal, or rejects the GMP Proposal, Owner shall have the right to: 2.7.5.1 2.8.4.1 Request modifications to the GMP Proposal. If such modifications are accepted in writing by Private Entity, the GMP Proposal shall be deemed accepted in accordance with §2.7.4§ 2.8.3; 2.7.5.2 2.8.4.2 Direct Private Entity to proceed on the basis of reimbursement as provided in ARTICLE 7 and ARTICLE 8 without a GMP, in which case all references in this Agreement to the GMP shall not be applicable; or