Processing the GMP Change Order Clause Samples

The "Processing the GMP Change Order" clause outlines the procedures for handling modifications to the Guaranteed Maximum Price (GMP) in a construction contract. It typically details the steps required for submitting, reviewing, and approving change orders that affect the GMP, including documentation, timelines, and necessary approvals from relevant parties. This clause ensures that any adjustments to the project’s cost ceiling are managed transparently and systematically, thereby preventing disputes and maintaining budgetary control.
Processing the GMP Change Order. When the Construction Documents for the entire project reach the stage of completion at which the CM/GC is required to propose a GMP Change Order, the Owner shall request the CM/GC to submit a GMP Change Order under the CM/GC’s Agreement for the construction of the entire Project under the Construction Documents. Design Professional shall confer with CM/GC in CM/GC's development of a GMP Change Order proposed in connection with those matters that affect the services of the Design Professional under this Agreement. Upon receipt of the proposed GMP Change Order, Design Professional shall review the proposed GMP Change Order to determine its compliance with the Using Agency’s Program and the CM/GC’s Agreement and shall recommend to the Owner approval or disapproval of the GMP Change Order. With its recommendation, Design Professional shall (i) provide to Owner any analysis of the GMP Change Order price as it relates to the prior Estimates of Probable Construction Cost submitted by the Design Professional and to the GMP Cost Limitation; (ii) shall recommend to Owner the amount to be established by Owner as an Owner's contingency reserve with respect to the work governed by the GMP Change Order if the Owner approves the GMP Change Order; (iii) shall determine whether the proposed GMP Change Order is consistent with the CM/GC’s Agreement, including the Project Schedule to the extent any changes to the Project Schedule proposed by the GMP Change Order affects the activities of the Design Professional under this Agreement and, if there is a variance, whether Design Professional agrees to such variance; and (iv) shall determine whether the proposed GMP Change Order and the assumptions on which it is based are consistent with the Using Agency’s Program or subsequent revisions, prepared by the Design Professional and theretofore approved by the Owner. 2.2.6.1 If the GMP Change Order proposes a Guaranteed Maximum Price which, taking into account recommended contingency reserves, exceeds the GMP Cost Limitation for construction of the Project, Design Professional shall recommend such corrective action which the Design Professional believes is necessary to reduce such price so that it is within the GMP Cost Limitation or which is necessary to alternatively procure such work. If the Owner agrees to a Guaranteed Maximum Price that exceeds the GMP Cost Limitation, then the GMP Cost Limitation shall be thereafter equal to the Guaranteed Maximum Price but there shall be no i...
View SourceView Similar (36)
Processing the GMP Change Order. When the Construction Documents for the entire project reach the stage of completion at which the Design-Builder is required to propose a GMP Change Order, the Owner shall request the Design- Builder to submit a GMP Change Order for the construction of the entire Project under the Construction Documents. Design Professional shall confer with Design-Builder in Design-Builder's development of a GMP Change Order proposed in connection with those matters that affect the services of the Design Professional. The Design Professional shall (i) provide to Owner any analysis of the GMP Change Order price as it relates to the prior Estimates of Probable Construction Cost submitted by the Design Professional and to the GMP Cost Limitation; (ii) shall recommend to Owner the amount to be established by Owner as an Owner's contingency reserve with respect to the work governed by the GMP Change Order Upon receipt of the proposed GMP Change Order, the Program Manager shall review the proposed GMP Change Order to determine its compliance with and the consistency of the assumptions on which it is based with the Using Agency’s Program.
View Source

Related to Processing the GMP Change Order

  • Agreement Changes The Company reserves the right to change the terms of this Agreement and the Plan without your consent to the extent necessary or desirable to comply with the requirements of Code section 409A, the Treasury regulations and other guidance thereunder.

  • Execution of Change Orders Change Orders shall be signed by the Contractor, ordinarily certified by the Design Professional, and approved by the Owner in accordance with the form of Change Order prescribed by the Owner. No request for payment by the Contractor for a Change Order shall be due, nor shall any such request appear on an Application for Payment, until the Change Order is executed by the Owner. In the event of emergency (see Article

  • SERVICE MONITORING, ANALYSES AND ORACLE SOFTWARE 11.1 We continuously monitor the Services to facilitate Oracle’s operation of the Services; to help resolve Your service requests; to detect and address threats to the functionality, security, integrity, and availability of the Services as well as any content, data, or applications in the Services; and to detect and address illegal acts or violations of the Acceptable Use Policy. Oracle monitoring tools do not collect or store any of Your Content residing in the Services, except as needed for such purposes. Oracle does not monitor, and does not address issues with, non-Oracle software provided by You or any of Your Users that is stored in, or run on or through, the Services. Information collected by Oracle monitoring tools (excluding Your Content) may also be used to assist in managing Oracle’s product and service portfolio, to help Oracle address deficiencies in its product and service offerings, and for license management purposes. 11.2 We may (i) compile statistical and other information related to the performance, operation and use of the Services, and (ii) use data from the Services in aggregated form for security and operations management, to create statistical analyses, and for research and development purposes (clauses i and ii are collectively referred to as “Service Analyses”). We may make Service Analyses publicly available; however, Service Analyses will not incorporate Your Content, Personal Data or Confidential Information in a form that could serve to identify You or any individual. We retain all intellectual property rights in Service Analyses. 11.3 We may provide You with the ability to obtain certain Oracle Software (as defined below) for use with the Services. If we provide Oracle Software to You and do not specify separate terms for such software, then such Oracle Software is provided as part of the Services and You have the non-exclusive, worldwide, limited right to use such Oracle Software, subject to the terms of this Agreement and Your order (except for separately licensed elements of the Oracle Software, which separately licensed elements are governed by the applicable separate terms), solely to facilitate Your use of the Services. You may allow Your Users to use the Oracle Software for this purpose, and You are responsible for their compliance with the license terms. Your right to use any Oracle Software will terminate upon the earlier of our notice (by web posting or otherwise) or the end of the Services associated with the Oracle Software. Notwithstanding the foregoing, if Oracle Software is licensed to You under separate terms, then Your use of such software is governed by the separate terms. Your right to use any part of the Oracle Software that is licensed under the separate terms is not restricted in any way by this Agreement.

  • Testing-the-Waters Communications If at any time following the distribution of any Written Testing-the-Waters Communication there occurred or occurs an event or development as a result of which such Written Testing-the-Waters Communication included or would include an untrue statement of a material fact or omitted or would omit to state a material fact necessary in order to make the statements therein, in the light of the circumstances existing at that subsequent time, not misleading, the Company shall promptly notify the Representative and shall promptly amend or supplement, at its own expense, such Written Testing-the-Waters Communication to eliminate or correct such untrue statement or omission.

  • How Do I Get More Information? This Notice summarizes the Action, the terms of the Settlements, and your rights and options in connection with the Settlements. More details are in the Settlement Agreements, which are available for your review at ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇. The Settlement Website also has the Second Amended Complaint and other documents relating to the Settlements. You may also call toll-free ▇-▇▇▇-▇▇▇-▇▇▇▇ or write the Claims Administrator at: Financial Aid Antitrust Settlements, c/o Claims Administrator, ▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇. To: Settlement Class Member Email Address From: Claims Administrator Subject: Notice of Proposed Class Action Settlement – ▇▇▇▇▇, et al. ▇. ▇▇▇▇▇ University, et al. Please visit ▇▇▇.▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇▇.▇▇▇ for more information. • The Court has preliminarily approved proposed settlements (“Settlements”) with the following ten schools: Brown University, the University of Chicago, the Trustees of Columbia University in the City of New York, Trustees of Dartmouth College, Duke University, Emory University, Northwestern University, ▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇ University, Vanderbilt University, and Yale University (collectively the “Settling Universities”). • The Court has also preliminarily approved a class of students who attended one or more of the Settling Universities during certain time periods. This is referred to as the “Settlement Class,” which is defined in more detail below.