Guaranteed Maximum Price definition

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.

Guaranteed Maximum Price means the maximum amount payable to the Contractor for the performance of the Work under a GMP Contract.

Guaranteed Maximum Price or “GMP” means the Guaranteed Maximum Price established pursuant to Article 5 of the CSA to be paid to Lessor for Lessor’s construction of the Project hereunder, subject to any adjustments for Extra Work/Modifications as provided in Article 17 of the CSA.

Examples of Guaranteed Maximum Price in a sentence

• The Architect/Engineer will be responsible for managing the design to stay within such Guaranteed Maximum Price proposal or Amount Available for the Construction Contract.

• The Plans, Drawings and Specifications for the entire Project shall be so prepared that same will call for the construction of the building and related facilities, together with its built-in permanent fixtures and equipment which will cost not more than the Guaranteed Maximum Price accepted by Owner, or the Amount Available for the Construction Contract established by Owner if no Guaranteed Maximum Price proposal has been accepted by Owner.

• The proposed schedule shall be integrated into the Construction Manager's CPM Schedule upon approval of its Guaranteed Maximum Price Amendment.

• Construction Manager guarantees that it shall not exceed a Guaranteed Maximum Price (GMP) of Four Hundred Ninety-Eight Thousand, Three Hundred Sixty- Two Dollars and Twenty-Two Cents ($498,362.22) for the identified Sub-Project.

More Definitions of Guaranteed Maximum Price

Guaranteed Maximum Price or “GMP”: The maximum price that the Judicial Council will pay DBE for construction of the Project.

Guaranteed Maximum Price and/or “GMP” means the maximum amount payable to the Contractor for the performance of the Work under a GMP Contract as more fully defined in the Agreement. This term is not relevant for contracts that are not GMP Contracts.

Guaranteed Maximum Price or “GMP” means the Guaranteed Maximum Price established pursuant to Section 4, below, to be paid to Contractor for Contractor’s construction of the Project hereunder, subject to any adjustments for Extra Work/Modifications as provided in Section 9, below.

Guaranteed Maximum Price means the cost of the work as defined in the contract.

Guaranteed Maximum Price means the maximum amount a construction manager

Guaranteed Maximum Price or “GMP” means the Guaranteed Maximum Price established pursuant to Section 4 of the Construction Services Agreement, consisting of the combined "Tenant Improvement Payments" and "Sublease Payments" as such terms are defined in Exhibit "C" of this Sublease.

Guaranteed Maximum Price means the maximum amount that a design-builder,