Cost Underruns Sample Clauses

Cost Underruns. A goal of the PROJECT is to use 100% of the GRANT funding. If there are unused funds from either PARTNER’S portion of the GRANT at the end of the PROJECT, that PARTNER agrees to give back to the PROJECT all monies not spent. This will allow the other PARTNER to use unspent monies for their portion of the PROJECT to ensure full expenditure of the GRANT.
Sample 1
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Cost Underruns. In the event the total cost to procure the Truss Bar and Event Cabins (exclusive of any equipment or specifications designated as a Design Add Alternate under Section 5.1(z)(iii)(C) above) is less than the Truss Bar and Event Cabins Budget, the difference between the contracted amount and the Truss Bar and Event Cabins Budget shall be allocated to the Team such that the Team will not be required to fund the amount of cost underrun or, if the Team has already funded such amount, the excess will be refunded to the Team.
Sample 1
Cost Underruns. In the event the total cost to procure the East Event Level Locker Room Buildout (exclusive of any equipment or specifications designated as a Design Add Alternate under Section 5.1(n)(iii)(C) above) is less than the East Event Level Locker Rooms Budget, the difference between the contracted amount and the East Event Level Locker Rooms Budget shall be allocated to the Team such that the Team will not be required to fund the amount of cost underrun or, if the Team has already funded such amount, the excess will be refunded to the Team.
Sample 1
Cost Underruns. In the event the total cost to procure the Concession Equipment (exclusive of any equipment or specifications designated as a Design Add Alternate under Section 5.1(o)(iii)(C) above) is less than the Concession Equipment Budget, the difference between the contracted amount and the Concessions Equipment Budget will be applied first to cover any cost overruns in connection with the specific items identified in Exhibit V and then any excess shall be transferred to the Owner's Contingency pursuant to Section 8.1(b)(i)(B).
Sample 1
Cost Underruns. In the event the total cost to procure the Stadium Plaza Improvements (exclusive of any equipment or specifications designated as a Design Add Alternate under Section 5.1(p)(iii)(C) above) is less than the Stadium Plaza Improvements Budget, the difference between the contracted amount and the Stadium Plaza Improvements Budget shall be transferred to the Owner's Contingency pursuant to Section 8.1(b)(i)(B).
Sample 1
Cost Underruns. In the event the total cost to procure the WiFi Communications System (exclusive of any equipment or specifications designated as a Design Add Alternate under Section 5.1(r)(iii)(C) above) is less than the WiFi Budget, the difference between the contracted amount and the WiFi Budget shall be allocated to the Team such that the Team will not be required to fund the amount of such cost underrun or, if the Team has already funded such amount, the excess will be refunded to the Team.
Sample 1
Cost Underruns. The Section 428 PAAP Pilot Program allows cost underruns to be applied to hazard mitigation projects for eligible facilities. Underruns can lead to additional mitigation funding for the County, which will be identified during PW reviews.
Sample 1
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Related to Cost Underruns

  • Default – Reprocurement Costs In case of Contract breach by Contractor, resulting in termination by the County, the County may procure the goods and/or services from other sources. If the cost for those goods and/or services is higher than under the terms of the existing Contract, Contractor will be responsible for paying the County the difference between the Contract cost and the price paid, and the County may deduct this cost from any unpaid balance due the Contractor. The price paid by the County shall be the prevailing market price at the time such purchase is made. This is in addition to any other remedies available under this Contract and under law.

  • Indirect Cost Rates The System Agency may acknowledge an indirect cost rate for Grantees that is utilized for all applicable contracts. Grantee will provide the necessary financial documents to determine the indirect cost rate in accordance with the Uniform Grant Guidance (UGG) and Uniform Grant Management Standards (UGMS).

  • Cost of Living (COLA) All seniority employees who have completed their appropriate wage progression schedule shall be covered by the provisions of a cost-of-living allowance, as set forth in this Agreement. Employees who have not completed their appropriate wage pro- gression on the effective date of a COLA increase, shall receive the adjustment on a prospective basis on the date they complete their wage progression schedules. The amount of the cost-of-living allowance shall be determined as provided below on the basis of the "Consumer Price Index for Urban Wage Earners and Clerical Workers, CPI-W (Revised Series using 1982-1984 Expenditure Patterns), All Items (1982-84 = 100), published by the Bureau of Labor Statistics, U.S. Department of Labor" and referred to herein as the "Index". Effective August 1, 2019 2024 and every August 1, thereafter during the life of the Agreement, a cost-of-living allowance will be calculated on the basis of the difference between the Index for May 202419 (published June 202419) and every May thereafter, and the base Index for May 202318 (published June 202318) and every May thereafter, as follows: For every two tenths (0.2) point increase in the Index, over and above the base (prior year's) Index plus three percent (3.00%) there will be a one (1) cent increase in the hourly wage rates payable on August 1, 202419 and every August 1 thereafter. These increases shall only be payable if they equal five cents ($.05) in a year. All cost-of-living allowances paid under this Agreement will become and remain a fixed part of the base wage rate for all job classifications. A decline in the Index shall not result in the reduc- tion of classification base wage rates. Mileage paid employees will receive cost-of-living allowances on the basis of .25 xxxxx per mile for each one (1) cent increase in hourly wages, subject to the threshold set forth above. In the event the appropriate Index figure is not issued before the effective date of the cost-of-living adjustment, the cost-of-living adjustment that is required will be made at the beginning of the first (1st) pay period after the receipt of the Index. In the event that the Index shall be revised or discontinued and in the event the Bureau of Labor Statistics, U.S. Department of Labor, does not issue information which would enable the Employer and the Union to know what the Index would have been had it not been revised or discontinued, then the Employer and the Union will meet, negotiate, and agree upon an appropriate substitute for the Index. Upon the failure of the parties to agree within sixty (60) days, thereafter, the issue of an appropriate substitute shall be submitted to an arbitrator for determination. The arbitrator's decision shall be final and binding.

  • Cost Breakdown When the Modification is proposed, the Contractor shall furnish a complete breakdown of actual costs of both credits and extras, itemizing materials, labor, taxes, overhead and profit. Subcontract work shall be so indicated. All costs must be fully documented. The following limitations shall apply:

  • Allowable Costs Allowable Costs are restricted to costs that comply with the Texas Uniform Grant Management Standards (UGMS) and applicable state and federal rules and law. The Parties agree that all the requirements of the UGMS apply to this Contract, including the criteria for Allowable Costs. Additional federal requirements apply if this Contract is funded, in whole or in part, with federal funds.

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