Common use of Increases in Project Costs Clause in Contracts

Increases in Project Costs. The Parties agree that where there is a cost increase for a project above the P50 Outturn cost, any additional funding up to the ‘Total Commonwealth Committed Funding’ as set out in the Schedules to this Agreement will only be released on a demonstrated needs basis.

Increases in Project Costs. The Parties agree that where there is a cost increase for a project above the P50 Outturn cost, any additional funding up to the ‘Total Commonwealth Committed Funding’ as set out in the Schedules to this Agreement will only be released on a demonstrated needs basis. Where a Project exceeds the ‘Total Commonwealth Committed Funding’, additional contributions can be allocated from savings from other Projects within the relevant State’s Program, with the Commonwealth’s agreement.