Project Cost Increases Sample Clauses
Project Cost Increases. Escrow Agent shall have no liability to determine whether the Project cost exceeds the undisbursed portion of the Loan Funds. Escrow Agent will notify Owner and Lender of a possible deficiency if a draw request is delivered to the Escrow Agent in an amount Escrow Agent believes exceeds the remaining Loan Funds. Owner or Lender may then; (a) deliver the balance of the necessary Funds or (b) direct Escrow Agent to pay less than the entire draw request amount.
Project Cost Increases. If prior to or concurrent with the satisfaction of Project Milestones 1-5 for a Project, Buyer or Seller has determined a cost increase for such Project over the per watt amount set forth for such type of Project on the applicable Project Cost Schedule and equal to, or greater than $.28 per watt (the “Cost Threshold”), Buyer shall have the right to terminate the construction and any other obligations under this Agreement with respect to such Project (including any obligation to pay the Purchase Price) and remove such Project from the Project List by written notice to Seller, unless Seller agrees in writing to pay, fully and solely from its own account, any additional cost above such Cost Threshold. In the event of a cost increase for a Project over the Cost Threshold where Seller has agreed to bear such cost increase over the Cost Threshold, such additional cost over the Cost Threshold to be paid by Seller shall be deducted from the Project Payment to be paid pursuant to Section 2.2.3, with any additional amount to be paid by Seller to Buyer concurrent with the deadline for the Project Payment to be paid pursuant to Section 2.2.3.
Project Cost Increases. If prior to or concurrent with the satisfaction of Project Milestones 1-5 for a Project, Buyer or Seller has determined a cost increase for such Project over the per watt amount set forth for such type of Project on the applicable Project Cost Schedule and equal to, or greater than $.28 per watt (the “Cost Threshold”), Buyer shall have the right to terminate the construction of such Project by written notice to Seller, unless Seller agrees in writing to pay, fully and solely from its own account, any additional cost above such Cost Threshold. In the event of a cost increase for a Project over the Cost Threshold where Seller has agreed to bear such cost increase over the Cost Threshold, such additional cost over the Cost Threshold to be paid by Seller shall be deducted from the Project Payment to be paid pursuant to Section 2.2.3(b), with any additional amount to be paid by Seller to Buyer concurrent with the deadline for the Project Payment to be paid pursuant to Section 2.2.3(b).
Project Cost Increases. If the Escrowee determines, or the Lender notifies Escrowee, that the undisbursed portion of the loan will not be sufficient to complete and pay for the construction of the Project, Owner shall deliver to Escrowee the sum necessary. If a Draw Request has been presented to Escrowee but not disbursed when the Escrowee is notified of the shortage of funds, Escrowee shall delay disbursement until the funds are received from the Owner.