Legal Liability means responsibility which courts recognize and enforce between persons who sue one another.
Guaranteed Maximum Price or “GMP” means the amount proposed by Contractor and accepted by Owner as the maximum cost to Owner for construction of the Project in accordance with this Agreement. The GMP includes Contractor’s Construction Phase Fee, the General Conditions Cost, the Cost of the Work, and Contractor’s Contingency amount.
General Liabilities shall have the meaning given it in Article III, Section 6(b) of this Declaration of Trust;
Maximum Liability has the meaning assigned to such term in Section 10.10.
Maximum Principal Amount means the maximum principal amount of the ------------------------ Revolving Credit Commitment, up to which the applicable Lender has agreed to lend funds and/or participate in the issuance of Letters of Credit as set forth in Schedule 1 attached hereto, as such amounts may be reduced or terminated from time to time pursuant to Paragraph 2.8 hereof.