Formal Budget Modification Sample Clauses

Formal Budget Modification a. Notwithstanding Section XXVIII of this Contract, prior to incurring any costs, CONTRACTOR shall obtain COMMISSION’s prior written approval, pursuant to a formal budget modification. b. A formal budget modification is 1) any modification to an originating cost category with a total of more than Five Thousand Dollars ($5,000), in which the modification will exceed ten percent (10%) of the total originating cost category; or 2) any modification to a cost category for which no dollar amount is budgeted. c. CONTRACTOR shall address and send a request for a formal budget modification to the designated COMMISSION staff, with the appropriate “Formal Budget Modification Summary” forms on or before the first (1st) of the month prior to the month in which the actual expenses will be incurred. CONTRACTOR shall not be permitted a formal budget modification during the first two (2) months or the last two (2) months of the term of this Contract, unless authorized by COMMISSION staff. d. CONTRACTOR is only permitted two (2) approved formal budget modifications during the term of this Contract. COMMISSION’s approval of a formal budget modification shall be contingent on CONTRACTOR’s timely submission of documentation required by COMMISSION.
Sample 1Sample 2Sample 3See All (12)
AutoNDA by SimpleDocs
Formal Budget Modification a. Prior to incurring any costs, GRANTEE shall obtain COMMISSION’s prior written approval, pursuant to a formal budget modification. b. A formal budget modification is 1) any modification to a cost category with a total of more than Five Thousand Dollars ($5,000), in which the modification will exceed ten percent (10%) of the total cost category; or 2) any modification to a cost category for which no dollar amount is budgeted. c. GRANTEE shall address and send a request for a formal budget modification to the designated COMMISSION staff, with the appropriate “Formal Budget Modification Summary” forms on or before the first (1st) of the month prior to the month in which the actual expenses will be incurred. GRANTEE shall not be permitted a formal budget modification during the first two (2) months or the last two (2) months of the Grant Period, unless authorized by COMMISSION staff. d. GRANTEE is only permitted two (2) approved formal budget modification requests during the Grant Period. COMMISSION’s approval of a formal budget modification request will be contingent on GRANTEE’s timely submission of documentation required by COMMISSION.
Sample 1Sample 2
Formal Budget Modification a. Notwithstanding Section XXVII of this Contract, prior to incurring any costs, CONTRACTOR shall obtain COMMISSION’s prior written approval, pursuant to a formal budget modification. b. A formal budget modification is 1) any modification to an originating cost category with a total of more than Five Thousand Dollars ($5,000), in which the modification will exceed ten percent (10%) of the total originating cost category; or 2) any modification to a cost category for which no dollar amount is budgeted. c. CONTRACTOR shall address and send a request for a formal budget modification to the COMMISSION staff (the “designated COMMISSION staff”), with the appropriate “Formal Budget Modification Summary” forms on or before the first (1st) of the month prior to the month in which the actual expenses will be incurred. CONTRACTOR shall not be permitted a formal budget modification during the first two
Sample 1
Formal Budget Modification. One (1) time throughout the term of this agreement. The formal budget modification must be a change of 10% or greater of the total budget. The request must be in writing on agency letterhead to XXXXXXXX00Xxxxxxxx@xxxxxxxxxxxx.xxx.
Sample 1
Formal Budget Modification a. Notwithstanding Section XXVIII of this Contract, prior to incurring any costs, CONTRACTOR shall obtain COMMISSION’s prior written approval, pursuant to a formal budget modification. b. A formal budget modification is 1) any modification to an originating cost category with a total of more than Five Thousand Dollars ($5,000), in which the modification will exceed ten percent (10%) of the total originating cost category; or 2) any modification to a cost category for which no dollar amount is budgeted. c. CONTRACTOR shall address and send a request for a formal budget modification to the designated COMMISSION staff, with the appropriate “Formal Budget Modification Summary” forms on or before the first (1st) of the month prior to the month in which the actual expenses will be incurred. CONTRACTOR shall not be permitted a formal budget modification during the first two (2) months or the last two (2) months of the term of this Contract, unless authorized by COMMISSION staff. B. CONTRACTOR is only permitted four (4) [1 for every 6 months] approved formal budget modifications during the terms of this Contract. Formal Budget Modifications shall be limited to two (2) per fiscal year (July 1st to June 30th). COMMISSION’s approval of a formal budget modification shall be contingent on CONTRACTOR’s timely submission to documentation required by COMMISSION. C. CONTRACTOR shall restrict its use of payments made by COMMISSION to CONTRACTOR under Section V of this Contract to CONTRACTOR’s performance of the services described in Exhibit A. CONTRACTOR shall only use the payments to supplement existing levels of service and not to fund existing levels of service. In no event shall CONTRACTOR or its officials, officers, directors, employees, agents, subcontractors or assignees supplant state, county, local or other governmental general fund money with COMMISSION payments for any purpose. No COMMISSION funds shall be granted or used for any previously existing project or program funded by state or local general funds unless the existing funding has formally been terminated or the CONTRACTOR demonstrates to the COMMISSION that COMMISSION funds will be used to supplement an existing project or program, and not to supplant existing funding. D. If applicable, any activities under the Capital Improvement/Renovation cost category must be completed within the first year of this project. CONTRACTOR shall submit all adjustments to the designated COMMISSION staff for approval. It sha...
Sample 1
Formal Budget Modification a. Notwithstanding Section XXVII of this Contract, prior to incurring any costs, CONTRACTOR shall obtain COMMISSION’s prior written approval, pursuant to a formal budget modification, of any modification to an original cost category of Five Thousand Dollars ($5,000) or more, which modification will exceed ten percent (10%) of the cost category. b. CONTRACTOR shall address and send a request for a formal budget modification to the COMMISSION staff (the “designated COMMISSION staff”), with the appropriate “Formal Budget Modification Summary” forms on or before the first (1st) of the month prior to the month in which the actual expenses will be incurred. CONTRACTOR shall not be permitted a formal budget modification during the first two
Sample 1

Related to Formal Budget Modification

  • Cost Modifications The parties may agree to a reduction in the cost of the Contract at any time during which the Contract is in effect. Without intending to impose a limitation on the nature of the reduction, the reduction may be to hourly, staffing or unit costs, the total cost of the Contract or the reduction may take such other form as the State deems to be necessary or appropriate.

  • CONTRACT MODIFICATION The following is adopted as the new CTC for the Contract effective December 29, 2022:

  • Amendment; Modification No supplement, modification, or amendment of this Agreement shall be binding unless executed in writing and signed by both Parties.

  • Agreement Modification 15.1 Any agreement to change the terms of this Agreement in any way shall be valid only if the change is made in writing and approved by mutual agreement of authorized representatives of the parties hereto.

  • Amendments, Modifications, etc This Agreement may not be amended or modified except by an agreement in writing executed by Exchangeco, Patch and the Trustee and approved by the Shareholders in accordance with section 11.2 of the Exchangeable Share Provisions.

  • Waiver; Modification Failure to insist upon strict compliance with any of the terms, covenants, or conditions hereof shall not be deemed a waiver of such term, covenant, or condition, nor shall any waiver or relinquishment of, or failure to insist upon strict compliance with, any right or power hereunder at any one or more times be deemed a waiver or relinquishment of such right or power at any other time or times. This Agreement shall not be modified in any respect except by a writing executed by each party hereto.

  • Agreement Modifications No waiver, alteration or modification of any of the provisions of this Construction Services Agreement shall be binding upon either District or Contractor unless the same shall be in writing and signed by both District and Contractor.

  • Contract Modifications It is understood that changes are inherent in operations of the type covered by this contract. The number of changes, the scope of those changes, and the impact they have on the progress of the original operations cannot be defined at this time. The PURCHASER is notified that changes are anticipated and that there will be no compensation made to the PURCHASER directly related to the number of changes made. Each change will be evaluated for extension of contract time and increase or decrease in compensation based on its own merit. STATE reserves the right to make, at any time during the contract, such modifications as are necessary or desirable; provided such modifications shall not change the character of the operations to be done nor increase the cost, unless such operations or cost increase is approved in writing by PURCHASER. Any modifications so made shall not invalidate this contract nor release PURCHASER of obligations under the performance bond. PURCHASER agrees to do the modified operations as if it had been a part of the original contract. If any change under this section causes an increase or decrease in the PURCHASER's cost of, or the time required for the performance of any part of the operations, the PURCHASER must submit a written statement setting forth the nature and specific extent of the claim. Such claim shall include all time and cost impacts against the contract and be submitted as soon as possible, but no later than 30 days after receipt of any written notice of modification of the contract. If the PURCHASER discovers site conditions which differ materially from what was represented in the contract or from conditions that would normally be expected to exist and be inherent to the activities defined in the contract, the PURCHASER shall notify the STATE's Authorized Representative immediately and before the area has been disturbed. The STATE's Authorized Representative will investigate the area and make a determination as to whether or not the conditions differ materially from either the conditions stated in the contract or those which could reasonably be expected in execution of this particular contract. If it is determined that a differing site condition exists, any compensation or credit will be determined based on an analysis by STATE's Authorized Representative. If the PURCHASER does not concur with the decision of the STATE's Authorized Representative and/or believes that it is entitled to additional compensation, the PURCHASER may proceed to file a claim. All claims shall be submitted in writing and shall include a detailed, factual statement of the basis of the claim, pertinent dates, contract provisions which support or allow the claim, reference to or copies of any documents which support the claim, the exact dollar value of the claim, and specific time extension requested for the claim. If the claim involves operations to be completed by subcontractors, the PURCHASER will analyze and evaluate the merits of the subcontractor's claim. PURCHASER shall forward the subcontractor's claim and PURCHASER's evaluation of such claim to STATE's Authorized Representative. The STATE's Authorized Representative will not consider direct claims from subcontractors, suppliers, manufacturers, or others not a party to this contract. The decision of the STATE shall be final and binding unless the PURCHASER requests mediation.

  • Amendments; Modifications This Agreement may not be modified, altered or amended except by an agreement in writing executed by all of the parties hereto.

  • Merger & Modification This Contract constitutes the entire agreement between the parties. No understandings, agreements, or representations, oral or written, not specified within this Contract will be valid provisions of this Contract. This Contract may not be modified, supplemented, or amended, except by written agreement signed by all necessary parties.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!