Common use of Cost Overruns Clause in Contracts

Cost Overruns. The Borrower shall ensure that all cost-overruns over the estimated construction costs of the Project as certified by a quantity surveyor or the Architect or as ascertained by the Lender as and when they occur shall be funded by the Borrower’s own equity;

Cost Overruns. The Mortgagor and/or the Borrower shall ensure that all cost-overruns over the estimated construction costs of the Project as certified by a quantity surveyor or the Architect or as ascertained by the Lender as and when they occur shall be funded by the Mortgagor’s and/or the Borrower’s own equity;

Cost Overruns. The Borrower shall ensure that all cost-overruns over the estimated construction costs of the Project as certified by a quantity surveyor Quantity Surveyor or the Architect or as ascertained by the Lender as and when they occur shall be funded by the Borrower’s own equityequity and evidence of payment of the cost-over-runs be given to the Lender;