BUDGET REALLOCATION. The Energy Commission, through its CAM and CAO, and the Contractor can agree upon and make certain budget reallocations without a formal amendment to this Agreement as long as ALL of the following conditions are met: For agreements without work authorizations, the total of all budget reallocations cannot exceed ten percent (10%) with a cap amount of $150,000 of the Agreement Amount. For purposes of this provision, “Agreement Amount” means the total amount of Energy Commission funds being paid to Contractor under this Agreement. It does not include any match funds provided by Contractor. For example, if under an agreement the Energy Commission agrees to pay a contractor $100,000 and the contractor is supplying $500,000 in match funding, the ten percent (10%) limitation applies to the $100,000. Only up to $10,000 of Energy Commission funds can be reallocated without a formal amendment. If under an agreement the Energy Commission agrees to pay a contractor $1,750,000, ten percent would be $175,000, but the cap is $150,000, so the most that could be reallocated without a formal amendment is $150,000. For agreements with work authorizations, budget reallocations up to ten percent (10%) with a cap of $150,000 of the entire agreement can be made. Budget reallocations up to ten percent (10%) of each work authorization can be made so long as the total amount of all work authorization budget reallocations does not exceed 10 percent of the agreement amount and is within the cap of $150,000. For example, assume an Agreement Amount is $175,000 and the agreement has two work authorizations, WA1 and WA2. WA1 has a budget of $100,000, and WA2 has a budget of $50,000. $10,000 (10% of $100,000) can be moved within WA1. $5,000 (10% of $50,000) can be moved within WA2. In addition to this, $2,500 (10% of $25,000, the Agreement Amount of $175,000 minus the combined work authorization budgets of $150,000) can be made to the portion of the Agreement Amount not associated with work authorizations. The total of these budget reallocations does not exceed ten percent of the total agreement amount or the $150,000 cap. The budget reallocation cannot substantially change the Scope of Work. Examples of budget reallocations that do not substantially change the Scope of Work include, but are not limited to, the following: Increasing or decreasing the overall travel budget. This does not mean an increase to the allowed per diem rates under this Agreement. Increasing or decreasing the equip...
BUDGET REALLOCATION. Any movement of funds from one category to another must be done through an amendment to the Work Authorization.
BUDGET REALLOCATION. Construction Loan Advances may be allocated to line items in the Budget for other purposes or in different proportions as the Administrative Agent in its sole discretion deems reasonably necessary or advisable. The Borrower may reallocate Cost Savings from one line item to another line item in the Budget provided the amount of such reallocation does not exceed the lesser of (i) the amount of the applicable line item then being reallocated, and (ii) $500,000 per line item increased or $1,500,000 in the aggregate. The Borrower shall (i) not, except as provided in the immediately preceding sentence, reallocate the proceeds of the Construction Loan Advances from one Budget line item to another or otherwise amend the Budget without the prior written consent of the Administrative Agent, not to be unreasonably withheld, other than changes resulting from Permitted Changes; and (ii) notify the Administrative Agent promptly whenever the Borrower becomes aware that the Budget is, or might be, inaccurate in any material respect, and submit to the Administrative Agent an amended Budget.
BUDGET REALLOCATION. There is no Budget Reallocation for this Agreement.
BUDGET REALLOCATION. If Borrower will not fully utilize the amount budgeted for any particular line item in the Budget for a Construction Project, the excess may be reallocated to another line item or line items. In TMCC’s discretion, TMCC may, upon the occurrence of and during the continuation of an Event of Default, in addition to all other rights and remedies of TMCC, reallocate any funds then remaining under the Budget item for “Overhead Payments”, “Contingency” or similar categories to any other Budget line item.
BUDGET REALLOCATION. A. The Energy Commission, through its Contract Manager and Contract Officer, and the Contractor can agree upon and make certain budget reallocations without a formal amendment to this Agreement as long as ALL of the following conditions are met:
1) For agreements without work authorizations, the total of all budget reallocations cannot exceed ten percent (10%) with a cap amount of $75,000 of the Agreement Amount. For purposes of this provision, “Agreement Amount” means the total amount of Energy Commission funds being paid to the Contractor under this Agreement. It does not include any match funds provided by the Contractor. For example, if under an agreement the Energy Commission agrees to pay a contractor $100,000 and the contractor is supplying $500,000 in match funding, the ten percent (10%) limitation applies to the $100,000. Only up to $10,000 of Energy Commission funds can be reallocated without a formal amendment. If under an agreement the Energy Commission agrees to pay a contractor $800,000, ten percent (10%) would be $80,000, but the cap is $75,000, so the most that could be reallocated without a formal amendment is $75,000.
2) The budget reallocation cannot substantially change the Scope of Work. Examples of budget reallocations that do not substantially change the Scope of Work include, but are not limited to, the following: • Increasing or decreasing the overall travel budget. This does not mean an increase to the allowed per diem rates under this Agreement. • Increasing or decreasing the equipment budget. • Increasing or decreasing the number of personnel assigned to complete tasks. This does not include increasing the hourly rates of the personnel and classifications listed in the budget. Increasing hourly rates requires a formal amendment. The addition of personnel also requires a formal amendment unless there is already an identified classification of rates in the budget that the new personnel will be filling.
3) The budget reallocation only involves moving funds between tasks, line items, or categories. The total Agreement amount and the total budget of any work authorizations must remain unchanged. Increasing the total amount of the Agreement requires a formal amendment.
4) The budget reallocation does not increase the percentage rate of Indirect Overhead, Direct Overhead, Fringe Benefits, General and Administrative Costs, Profit, or any other rates listed in the budget. For example, if an agreement budget lists the Indirect Overhead pe...
BUDGET REALLOCATION. 25 SECTION 2.8 Project Deposit ............................................................. 26 SECTION 2.9 Direct Construction Loan Advances ........................................... 26
BUDGET REALLOCATION. 24 SECTION 2.8 Equity Account ...................................................... 25 SECTION 2.9
BUDGET REALLOCATION. 24 SECTION 2.8
BUDGET REALLOCATION. This agreement does not include the option for Budget Reallocation.
