Common use of Cost Variation Clause in Contracts

Cost Variation. In the event that the total Project cost is less than the amount specified in the Exhibit B shall be reduced at the same ratio to the total Project cost reduction as the ratio Contract amount to the total amount of funds provided by the Business and all funding sources requiring a proportional reduction of their financial contribution to the Project. Any disbursed excess above the reduced IEDA participation amount shall be returned immediately to IEDA.

Appears in 5 contracts

Samples: Innovation Acceleration Fund Contract, Innovation Acceleration Fund Contract, Demonstration Fund Contract

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