Increase in Project Costs Clause Samples

Increase in Project Costs. If, at any time during the Term the Recipient determines that it will not be possible to complete the Project unless it expends amounts in excess of all funding available to it (a “Shortfall”), the Recipient will immediately notify the Province of that determination. If the Recipient so notifies the Province, it will, within 30 days of a request from the Province, provide a summary of the measures that it proposes to remedy the Shortfall. If the Province is not satisfied that the measures proposed will be adequate to remedy the Shortfall, then the Province may exercise one or more of the remedies available to it pursuant to section A.12.4 (Recipient Not Remedying).
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Increase in Project Costs. If, at any time during the Term, the Recipient determines that it will not be possible to complete the Project due to cost escalations or cost overruns (a “Shortfall”), the Recipient will immediately notify the Province of that determination. The Province may exercise one or more of the remedies available to it pursuant to section A13.2.
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Increase in Project Costs. In the event that the Project’s costs increase by ten percent (10%) or more of the Budget that is attached as Exhibit “C”, and Project Sponsor is unable to secure the requisite funding to cover the additional expense within 60 days before the Project’s construction commences, then the City is permitted to recommend that the HOME-ARP Funds should be de-obligated for this Project.
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Increase in Project Costs. If, at any time during the term of this Agreement, one or all of the Parties determines that it will not be possible to complete construction of the Project unless the Recipient expends amounts in excess of the funding available to it, the Party will immediately notify the other Party of that determination. The Recipient will, within thirty (30) days of a request from Canada, provide a summary of the measures that it proposes to remedy the shortfall. If Canada is not satisfied that the measures proposed will be adequate to remedy the shortfall, then Canada may terminate or suspend its funding obligations until such time as measures are proposed that, in Canada’s opinion, will be adequate to remedy the shortfall, whereupon its funding obligation will be reinstated.
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Increase in Project Costs. If it will not be possible to complete the Project unless the City expends amounts in excess of available funding, notification is to be provided, and the City will provide a plan to remedy the shortfall subject to Canada’s ability to exercise its available remedies on a default if it is not satisfied with the plan.
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Related to Increase in Project Costs

  • Project Costs Simultaneously with the execution of this Agreement, the Company shall disclose to the Department all of the Project Costs which the Company seeks to include for purposes of determining the limitation of the amount of the Credit pursuant to Section 5-30 of the Act and provide to the Department a Schedule of Project Costs in the form as attached hereto as Exhibit C.

  • Construction Cost Budget The total cost to District of all elements of the Project designed or specified by the Architect, as adjusted at the end of each design phase in accordance with this Agreement. The Construction Cost Budget does not include the compensation of the Architect and the Architect’s Consultants, the cost of land, rights-of-way, financing or other costs which are the responsibility of the District, including construction management.

  • Construction Budget The total amount indicated by the District for the Project plus all other costs, including design, construction, administration, financing, and all other costs.