Project Cost Savings Sample Clauses

Project Cost Savings. To the extent there exists Project cost savings during the Project the amount of such savings shall be applied first to the Participating County to the extent the Participating County has identified Participating County Funding in an amount more than required by the Applicable Laws (as defined in the BSCC Agreement). Thereafter, cost savings shall be shared by the State and the Participating County on a pro rata basis determined by the percentage of the total amount of Project costs financed by the State and the Participating County Funding, respectively. However, in no case may savings be applied to the Participating County that would (1) result in the State providing financing for activities other than eligible design and construction costs; or (2) result in the Participating County contributing less than the percentage of Total Project Costs required by the Applicable Laws.
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Project Cost Savings. 52. As set out in clauses 42 to 44, within a State’s overall Program, where the updated cost estimate or final Project cost to government is less than the amount(s) which the Commonwealth or (in the case of a jointly funded Project) the Commonwealth and the relevant State have agreed to make available, the savings (including savings resulting from private sector participation in the Project) will be treated in the following way:
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Project Cost Savings. As set out in clauses 42 to 44, within a State’s overall Program, where the updated cost estimate or final Project cost to government is less than the amount(s) which the Commonwealth or (in the case of a jointly funded Project) the Commonwealth and the relevant State have agreed to make available, the savings (including savings resulting from private sector participation in the Project) will be treated in the following way: for Projects to which only the Commonwealth has committed a specified funding contribution, the Commonwealth may choose to reallocate the savings to another Project or Projects in the relevant State; and for Projects to which both the Commonwealth and a State have committed a specified funding contribution, the savings will be divided on a pro-rata basis and be redistributed: in the case of the Commonwealth, the Commonwealth may choose to reallocate its share of the funding to another Project or Projects in the relevant State; and in the case of a State, the State may choose to reallocate its share of the funding to other Projects.
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Project Cost Savings. The amount, if any, by which the Project Cost Estimate exceeds the total Capital Costs after Project Completion, final acceptance on the Design-Build Contract, and final payment under the Design-Build Contract (as those terms are defined in the Wave Project Agreement).
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Project Cost Savings. The Parties will share pro-rata in any Project Cost Savings based upon each Party’s financial contribution to the Project Capital Costs.
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Project Cost Savings. Project Cost Savings will be determined at [To Be Determined] as provided in the Note
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Project Cost Savings. Within thirty (30) days after the final determination of the Project Costs (including, without limitation, receipt of unconditional final lien releases from the Contractor and all subcontractors and material suppliers) or the Completion of the Project, whichever is later (the “Final Determination Date”), Development Manager shall prepare calculations comparing the actual, total Project Costs incurred by Owner against the Guaranteed Delivery Price (as adjusted by Permitted Changes only) and the Development Budget (as adjusted by any changes allowed under this Agreement), to determine whether any savings in Project Costs have been achieved (such comparison being defined as the “Final Cost Reconciliation”). Owner shall have fourteen (14) days to review and either approve or disapprove the Final Cost Reconciliation prepared by Development Manager. If Development Manager does not provide the Final Cost Reconciliation within such thirty day period, or if Owner reasonably disapproves the Final Cost Reconciliation provided by the Development Manager, then Owner may prepare the Final Cost Reconciliation itself based on previous reporting by the Development Manager pursuant to this Agreement. If the Final Cost Reconciliation (as approved by Owner, or with such modifications as Owner and Development Manager may mutually agree upon, in their respective reasonable discretion, or as prepared by Owner if Development Manager does not prepare it within the required time period above) indicate that the actual, total Project Costs incurred by Owner are less than the Guaranteed Delivery Price, as adjusted by any Permitted Changes pursuant to this Agreement, the difference shall be defined as “Project Cost Savings”. All Project Cost Savings shall accrue to Owner, and Owner shall not be obligated to pay any Project Cost Savings to Development Manager, except only as follows:
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Project Cost Savings. At FINAL COMPLETION of the PROJECT, the CITY and XXXX shall share in any cost savings as follows: 75% City and 25% XXXX. Cost savings are defined as the difference between the GMP (including authorized amendments) and the approved final invoice amounts. XXXX’x 25% share in the cost savings shall be capped at a maximum of 1.5% of the total GMP (including authorized amendments). Any remaining monies in the Direct Construction Cost and/or General Conditions shall vest in the CITY and shall reduce the GMP. To the extent any portion of the CONTINGENCY remains unallocated on the date of FINAL COMPLETION and after the issuance of the final payment for the PROJECT , the remaining portion shall be returned to the City in full (to be excluded from any cost savings allocation and returned to the CITY in whole).
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Project Cost Savings. Where the final Project cost to government is less than the amount(s) which the Commonwealth or (in the case of a jointly funded Project) the Commonwealth and the relevant State have agreed to make available, the savings (including savings resulting from private sector participation in the Project) will be treated in the following way: for Projects to which only the Commonwealth has committed a specified funding contribution, the Commonwealth may choose to reallocate the savings to another Project or Projects in the relevant State; and for Projects to which both the Commonwealth and a State have committed a specified funding contribution, the savings will be divided on a pro-rata basis and be redistributed: in the case of the Commonwealth, the Commonwealth may choose to reallocate its share of the funding to another Project or Projects in the relevant State; and in the case of a State, the State may choose to reallocate its share of the funding to other Projects.
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Related to Project Cost Savings

  • 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 Contract; Cost Budget Prior to execution of a construction contract, Tenant shal] submit a copy of the proposed contract with the Contractor for the construction of the Tenant Improvements, including the genera] conditions with Contractor (the “Contract”) to Landlord for its approval, which approval shall not be unreasonably withheld, conditioned or delayed. Following execution of the Contract and prior to commencement of construction, Tenant shall provide Landlord with a fully executed copy of the Contract for Landlord’s records. Prior to the commencement of the construction of the Tenant Improvements, and after Tenant has accepted all bids and proposals for the Tenant Improvements, Tenant shall provide Landlord with a detailed breakdown, by trade, for all of Tenant’s Agents, of the final estimated costs to be incurred or which have been incurred in connection with the design and construction of the Tenant Improvements to be performed by or at the direction of Tenant or the Contractor (the “Construction Budget”), which costs shall include, but not be limited to, the costs of the Architect’s and Engineers’ fees and the Landlord Coordination Fee. The amount, if any, by which the total costs set forth in the Construction Budget exceed the amount of the Tenant Improvement Allowance is referred to herein as the “Over Allowance Amount”. In the event that an Over-Allowance Amount exists, then prior to the commencement of construction of the Tenant Improvements, Tenant shall supply Landlord with cash in an amount equal to the Over- Allowance Amount. The Over-Allowance Amount shall be disbursed by Landlord prior to the disbursement of any of the then remaining portion of the Tenant Improvement Allowance, and such disbursement shall be pursuant to the same procedure as the Tenant Improvement Allowance. In the event that, after the total costs set forth in the Construction Budget have been delivered by Tenant to Landlord, the costs relating to the design and construction of the Tenant Improvements shall change, any additional costs for such design and construction in excess of the total costs set forth in the Construction Budget shall be added to the Over-Allowance Amount and the total costs set forth in the Construction Budget, and such additional costs shall be paid by Tenant to Landlord immediately as an addition to the Over-Allowance Amount or at Landlord’s option, Tenant shall make payments for such additional costs out of its own funds, but Tenant shall continue to provide Landlord with the documents described in items (1), (ii), (iii) and (iv) of Section 2.2.2.1 of this Tenant Work Letter, above, for Landlord’s approval, prior to Tenant paying such costs. All Tenant Improvements paid for by the Over-Allowance Amount shall be deemed Landlord’s property under the terms of the Lease. 4.2.2

  • Cost Overruns The Borrower shall ensure that all cost-overruns over the estimated construction costs of the Project as certified by a quantity surveyor or the Architect or as ascertained by the Lender as and when they occur shall be funded by the Borrower’s own equity;

  • Direct Costs Insert the major cost elements. For each element, consider the application of the paragraph entitled “Costs Requiring Prior Approval” on page 1 of these instructions.

  • Construction Allowance (a) Landlord shall provide to Tenant a construction allowance not to exceed $135.00 per rentable square foot in the Relocation Premises (the “Construction Allowance”) to be applied toward the Total Construction Costs, as adjusted for any changes to the Tenant Work. If the Total Construction Costs are estimated to exceed the Construction Allowance by more than $5.00 per rentable square foot of the Relocation Premises, then no advance of the Construction Allowance shall be made by Landlord until Tenant has first paid to the contractor from its own funds (and provided reasonable evidence thereof to Landlord) the anticipated amount by which the projected Total Construction Costs exceed the amount of the Construction Allowance. Thereafter, Landlord shall pay to Tenant (or at Tenant’s request directly to Tenant’s general contractor) the Construction Allowance in multiple disbursements (but not more than once in any calendar month) following the receipt by Landlord of the following items: (i) a request for payment and sworn statements of Tenant and contractor, (ii) final or partial lien waivers, as the case may be, from all persons performing work or supplying or fabricating materials for the Tenant Work, fully executed, acknowledged and in recordable form, which waivers may be conditioned upon receipt of payment, (iii) the Architect’s certification that the Tenant Work for which reimbursement has been requested has been finally completed, including (with respect to the last application for payment only) any punch-list items, on the appropriate AIA form or another form approved by Landlord, and, (iv) with respect to the disbursement of the last 10% of the Construction Allowance, (1) the permanent certificate of occupancy issued for the Relocation Premises, if required by applicable law, (2) the record drawing in CAD format, PDF format and hard copy required by Section 5 above, and (3) an estoppel certificate confirming such factual matters as Landlord or Landlord’s Mortgagee may reasonably request (collectively, a “Completed Application for Payment”). Landlord shall pay the amount requested in the applicable Completed Application for Payment to Tenant within 30 days following Tenant’s submission of the Completed Application for Payment. If, however, the Completed Application for Payment is incomplete or incorrect, Landlord shall promptly notify Tenant of the same and Landlord’s payment of such request shall be deferred until 30 days following Landlord’s receipt of the corrected Completed Application for Payment. Notwithstanding anything to the contrary contained in this Exhibit, Landlord shall not be obligated to make any disbursement of the Construction Allowance during the pendency of any of the following: (1) Landlord has received written notice of any unpaid claims relating to any portion of the Tenant Work or materials in connection therewith covered by previously funded applications for payment, (2) there is an unbonded lien outstanding against the Building or the Relocation Premises or Tenant’s interest therein by reason of work done, or claimed to have been done, or materials supplied or specifically fabricated, claimed to have been supplied or specifically fabricated, to or for Tenant or the Relocation Premises, (3) the conditions to the advance of the Construction Allowance are not satisfied, or (4) Tenant is in Default under the Lease.

  • 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.

  • Development Costs With respect to activities prior to the Amendment Effective Date, each Party was to pay [*] of the total Direct Development Costs of a Product incurred in accordance with the Development Budget (as defined in the Original Agreement). Notwithstanding anything in this Article 6 of this Agreement or in any other provision of this Agreement to the contrary, with respect to activities on and after the Amendment Effective Date, subject to Sections 3.1.2, Alimera will be solely responsible for, and shall pay one hundred percent (100%) of, all development costs of a Product, including Direct Development Costs. Notwithstanding anything in this Article 6 of this Agreement or in any other provision of this Agreement to the contrary, (i) all payments owing by CDS hereunder with respect to development activities prior to the Amendment Effective Date are hereby deemed fully paid by CDS (or waived, to the extent such waiver may be required), including any Development Payments, Compounded Development Payments, Determined Disputed Costs and Compounded Disputed Costs (as all defined in the Original Agreement), further including any penalties and interest which might have accrued with respect thereto, and further including all CDS payments deferred pursuant to that February 11, 2008 letter agreement sent by CDS and executed by CDS and Alimera regarding deferral of payments under the Original Agreement as of such date; (ii) all payments owing by Alimera hereunder with respect to development activities prior to the Amendment Effective Date are hereby deemed fully paid by Alimera (or waived, to the extent such waiver may be required), including any Development Payments, Compounded Development Payments, Determined Disputed Costs and Compounded Disputed Costs (as all defined in the Original Agreement), and further including any penalties and interest which might have accrued with respect thereto; and (iii) subject to Sections 3.1.1 and 3.1.2, from and after the Amendment Effective Date, CDS will have no liability whatsoever hereunder for any past, present or future development costs, including Direct Development Costs (which includes those incurred before, on and after the Amendment Effective Date), and instead Alimera shall have sole liability therefor.

  • Tenant Improvement Allowance Items Except as otherwise set forth in this Tenant Work Letter, the Tenant Improvement Allowance shall be disbursed by Landlord only for the following items and costs (collectively the “Tenant Improvement Allowance Items”):

  • Project Budget A Project Budget shall be prepared and maintained by Grantee. The Project Budget shall detail all costs for which the Grant will be used during each calendar month of the Term. The Project Budget must be approved in writing by the Project Monitor. Grantee shall carry out the Project and shall incur costs and make disbursements of funds provided hereunder by the Sponsor only in conformity with the Project Budget. The current approved Project Budget is contained in Attachment B. Said Project Budget may be revised from time to time, but no Project Budget or revision thereof shall be effective unless and until the same is approved in writing by Project Monitor. The funds granted under this Grant Contract cannot be used to supplant (replace) other existing funds.

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