Acceptance of Financial Model, Construction Budget and Operating Plan Sample Clauses

Acceptance of Financial Model, Construction Budget and Operating Plan. (i) The Technical Agent shall direct the Independent Engineer to review the updated Operating Plan, updated Construction Budget and updated Financial Model for material compliance with the Initial Operating Plan, Initial Construction Budget and the Initial Financial Model, respectively. Within thirty (30) days of its receipt thereof, the Independent Engineer shall notify the Technical Agent whether or not, in its professional opinion, each of the updated Operating Plan, updated Construction Budget and updated Financial Model is in material compliance with the Initial Operating Plan, Initial Construction Budget and the Initial Financial Model, respectively. In the event that the Independent Engineer determines that the updated Operating Plan, updated Construction Budget and the updated Financial Model are in material compliance, the Technical Agent shall accept such updated Operating Plan, updated Construction Budget and updated Financial Model and shall promptly notify the Administrative Agent and the Borrower of such acceptance. Once approved, such updated Operating Plan, updated Construction Budget and updated Financial Model shall become the current Operating Plan, Construction Budget and Financial Model. (ii) In the event that the Independent Engineer determines that any of the updated Operating Plan, updated Construction Budget or updated Financial Model are not in material compliance with the Initial Operating Plan, Initial Construction Budget or Initial Financial Model, respectively, it shall promptly notify the Technical Agent and the Borrower of the reasons for such determination, and the Technical Agent shall submit such updated Operating Plan, updated Construction Budget or updated Financial Model, as the case may be, for approval by the Majority Secured Parties. If the Majority Secured Parties approve such updated Operating Plan, updated Construction Budget or updated Financial Model, as the case may be, the Technical Agent shall promptly notify the Borrower and the Administrative Agent of such approval. If the Borrower is notified by the Technical Agent that its updated Financial Model, updated Construction Budget or updated Operating Plan, as the case may be, has not been approved by the Majority Secured Parties, the Borrower shall, within ten (10) Business Days and after consultation with the Technical Agent as to the reasons for such rejection, submit an appropriately revised Financial Model, Construction Budget and/or Operating Plan, as th...
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Related to Acceptance of Financial Model, Construction Budget and Operating Plan

  • Annual Operating Budget and Financial Projections Within sixty (60) days after the end of each fiscal year of Borrower Representative (and promptly and within five (5) days of any material modification thereto), an annual operating budgets, on a consolidating basis (including income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borrower Representative, as approved by Borrower Representative’s Board, together with any related business forecasts used in the preparation of such annual financial projections.

  • Construction Budget The total amount of funds indicated by the District for the entire Project plus all other costs, including design, construction, administration, and financing.

  • Project Budget A Project Budget shall be prepared and maintained by Grantee. The Project Budget shall detail all costs for which the Grant will be used during the Term. The Project Budget must be approved in writing by the Project Monitor. Grantee shall carry out the Project and shall incur costs and make disbursements of funds provided hereunder by the Sponsor only in conformity with the Project Budget. The current approved Project Budget is contained in Attachment “C”. Said Project Budget may be revised from time to time, but no Project Budget or revision thereof shall be effective unless and until the same is approved in writing by Project Monitor. The funds granted under this Grant Contract cannot be used to supplant (replace) other existing funds.

  • Construction Progress Schedule A schedule indicating proposed activity sequences and durations, milestone dates for receipt and approval of pertinent information, preparation, submittal, and processing of Shop Drawings and Samples, delivery of materials or equipment requiring long-lead time procurement, and proposed date(s) of Material Completion and Occupancy and Final Completion. The schedule will be developed to represent the sixteen or seventeen CSI Specification Divisions. It shall have a minimum number of activities as required to adequately represent to Owner the complete scope of work and define the Project’s critical path and associated activities. If the Project is to be phased, then each individual Phase should be identified from start through completion of the overall Project and should be individually scheduled and described, including any Owner’s occupancy requirements and showing portions of the Project having occupancy priority. The format of the schedule will have dependencies indicated on a monthly grid identifying milestone dates such as construction start, phase construction, structural top out, dry-in, rough-in completion, metal stud and drywall completion, equipment installation, systems operational, Material Completion and Occupancy Date, final inspection dates, Punchlist, and Final Completion date.

  • Construction Phase Services 3.1.1 – Basic Construction Services

  • PRE-CONSTRUCTION PHASE SERVICES The Pre-Construction Phase shall be deemed to commence upon the date specified in a written Notice to Proceed with Pre-Construction Phase Services issued by Owner and shall continue through completion of the Construction Documents and procurement of all major Subcontractor agreements. Contractor is not entitled to reimbursement for any costs incurred for Pre-Construction Phase Services performed before issuance of the written Notice to Proceed. Pre-Construction Phase Services may overlap Construction Phase Services. Contractor shall perform the following Pre-Construction Phase Services:

  • Project Completion Report At the completion of construction and once a Project is placed in service, the Subrecipient must submit a Project Completion Report that includes the total number of units built and leased, affordable units built and leased, DR-MHP units built and leased, an accomplishment narrative, and the tenants names, demographics and income for each DR-MHP unit.

  • Construction Schedule The progress schedule of construction of the Project as provided by Developer and approved by District.

  • Project Implementation Manual The Recipient, through the PCU, shall: (i) take all action required to carry out Parts 1.1, 1.3, 1.4, 2, 3.1(b), 3.2, 3.3 and 4 (ii) of the Project in accordance with the provisions and requirements set forth or referred to in the Project Implementation Manual; (ii) submit recommendations to the Association for its consideration for changes and updates of the Project Implementation Manual as they may become necessary or advisable during Project implementation in order to achieve the objective of Parts 1.1, 1.3, 1.4, 2, 3.1(b), 3.2, 3.3 and 4(ii) of the Project; and (iii) not assign, amend, abrogate or waive the Project Implementation Manual or any of its provisions without the Association’s prior agreement. Notwithstanding the foregoing, if any of the provisions of the Project Implementation Manual is inconsistent with the provisions of this Agreement, the provisions of this Agreement shall prevail and govern.

  • Commercial Operation Date Testing and Modifications Prior to the Commercial Operation Date, the Connecting Transmission Owner shall test the Connecting Transmission Owner’s Attachment Facilities and System Upgrade Facilities and System Deliverability Upgrades and Developer shall test the Large Generating Facility and the Developer Attachment Facilities to ensure their safe and reliable operation. Similar testing may be required after initial operation. Developer and Connecting Transmission Owner shall each make any modifications to its facilities that are found to be necessary as a result of such testing. Developer shall bear the cost of all such testing and modifications. Developer shall generate test energy at the Large Generating Facility only if it has arranged for the injection of such test energy in accordance with NYISO procedures.

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