Common use of Total Project Cost Clause in Contracts

Total Project Cost. The total estimated cost of the Project is $21,000,000. To the extent that the actual cost of the Project exceeds $21,000,000, the Company shall be responsible for such excess, not Triumph and not Grantee. Grantee shall monitor the Budget and submit an amended Budget to Triumph for approval in any case in which Grantee proposes to make a change to a previously approved Budget which decreases the total Budget amount. Triumph shall have sixty (60) days from the receipt of a proposed amended Budget to notify of its approval or disapproval. If Triumph fails to approve or disapprove the proposed amended Budget within such sixty (60) day period, the proposed amended Budget shall be deemed disapproved. If Grantee fails to obtain Triumph's approval but nevertheless proceeds to implement the proposed amendments, that failure shall be sufficient cause for nonpayment by Triumph as provided in Section 4.2(f) above. For amendments where either (a) the total Budget increases or decreases by greater than five percent (5%), and/or (b) the Matching Funds increase or decrease by greater than five percent (5%), the Board of Directors of Triumph must approve such amendments. If Grantee proposes an amendment with an increase or decrease of less than five percent (5%) as described above as compared to the most recent Budget approved by the Board of Directors of Triumph, Triumph staff shall have the right to approve or disapprove such amendment. It is expressly understood and agreed that the Grant shall operate only to pay, on and subject to the terms and conditions set forth herein, a portion of the costs and expenses of the Project. Furthermore, Grantee shall ensure that the expenditure of all of the Matching Funds is as contemplated in the Budget, and agrees that its failure to do so shall be deemed a material breach of this Agreement

Total Project Cost. The total cost of the Project is $290,000, of which (i) GCSD shall pay $165,000 toward salaries, use of computers, text books, CTE exams, supplies & miscellaneous program items for the Project ($55,000 per year for 3 years) (the “Matching Funds”), and (ii) $125,000 shall be provided by the Grant. The total estimated cost of the Project is $21,000,000based upon the budget set forth in Exhibit "B" attached to and incorporated into this Agreement (the "Budget"). To the extent that the actual cost of the Project exceeds $21,000,000, the Company shall be responsible for such excess, not Triumph and not Grantee. Grantee GCSD shall monitor the Budget and submit an amended Budget to Triumph for approval in any case the event that the Budget increases or decreases by greater than five percent (5%) in which Grantee proposes the aggregate of the total cost of the Project. Any increase or decrease by greater than five percent (5%) in the aggregate of the total cost of the Project as compared to make a change to a previously the most recently approved Budget which decreases the total Budget amountshall require approval of Triumph. Triumph shall have sixty fifteen (6015) days from the receipt of a proposed amended Budget to notify GCSD of its approval or disapprovaldisapproval of such change. If Triumph fails to approve or disapprove the proposed amended Budget within such sixty fifteen (6015) day period, the proposed amended Budget shall be deemed disapprovedapproved as submitted. If Grantee GCSD fails to obtain Triumph's approval but nevertheless proceeds to implement the proposed amendmentsor deemed approval, that failure shall be sufficient cause for nonpayment by Triumph as provided in Section 4.2(f) above). For amendments where either Using the Grant, its own funds, and funds from other grants (a) including, but not limited to, the Matching Funds), GCSD agrees to bear the entire cost and expense of the Project, including but not limited to, all costs and all expenses in excess of the total Budget increases or decreases by greater than five percent (5%)estimated cost of the Project, and/or (b) the Matching Funds increase or decrease by greater than five percent (5%), the Board of Directors of Triumph must approve such amendments. If Grantee proposes an amendment with an increase or decrease of less than five percent (5%) as described above as compared to the most recent Budget approved by the Board of Directors of Triumph, Triumph staff shall have the right to approve or disapprove such amendment. It is it being expressly understood and agreed that the Grant shall operate only to pay, on and subject to the terms and conditions set forth herein, a portion of the costs and expenses of the Project. Furthermore, Grantee shall ensure that the expenditure of GCSD agrees to spend all of the Matching Funds is as contemplated in the BudgetGrant Application, and agrees that its failure to do so shall be deemed a material breach of this Agreement.

Total Project Cost. The total cost of the Project is $10,316,729, of which (i) Grantee is contributing to the Company land in the Park valued at not less than $400,000 (the “Land”), (ii) the State of Florida Economic Development Transportation Fund (the “EDTF”) is contributing $1,246,415, (iii) the Company has committed to spending $5,185,586 toward construction of a warehouse (the “Warehouse”) on the Land (items (i), (ii), and (iii) are collectively referred to herein as the “Matching Funds”), and (iv) $3,484,728 shall be provided by the Grant. The total estimated cost of the Project is $21,000,000based upon the Budget. To the extent that the actual cost of the Project exceeds $21,000,00010,316,729, the Company Grantee shall be solely responsible for such excess, not Triumph and not Grantee. Grantee shall monitor the Budget and submit an amended Budget to Triumph for approval in any case in which the event that (a) the total cost of the Project increases or decreases by greater than five percent (5%), (b) total the Budget increases or decreases by greater than five percent (5%), (c) the Budget increases or decreases by greater than five percent (5%) within a particular Budget category, and/or (d) Grantee’s portion of the Matching funds decreases by greater than five percent (5%). If Grantee proposes an increase or decrease by greater than five percent (5%) as described above as compared to make the most recently approved Budget, such proposal shall be submitted to Triumph in writing along with a change proposed amended Budget, and Triumph shall have the right to a previously approved approve or disapprove both the proposed Budget which decreases category increase or decrease and the total Budget amountproposed amended Budget. Triumph shall have sixty fifteen (6015) days from the receipt of a proposed amended Budget to notify Grantee of its approval or disapproval. If Triumph fails to approve or disapprove the proposed Budget category increase or decrease and/or the proposed amended Budget within such sixty fifteen (6015) day period, the proposed Budget category increase or decrease and/or the amended Budget Budget, as applicable, shall be deemed disapprovedapproved as submitted. If Grantee fails to obtain Triumph's approval but nevertheless proceeds to implement the proposed amendmentsor deemed approval, that failure shall be sufficient cause for nonpayment by Triumph as provided in Section 4.2(f) above). For amendments where either Using the Grant, its own funds, and funds from other grants (a) including, but not limited to, the Matching Funds), Grantee agrees to bear the entire cost and expense of the Project, including but not limited to, all costs and all expenses in excess of the total Budget increases or decreases by greater than five percent (5%)estimated cost of the Project, and/or (b) the Matching Funds increase or decrease by greater than five percent (5%), the Board of Directors of Triumph must approve such amendments. If Grantee proposes an amendment with an increase or decrease of less than five percent (5%) as described above as compared to the most recent Budget approved by the Board of Directors of Triumph, Triumph staff shall have the right to approve or disapprove such amendment. It is it being expressly understood and agreed that the Grant shall operate only to pay, on and subject to the terms and conditions set forth herein, a portion of the costs and expenses of the Project. Furthermore, Grantee shall ensure that the expenditure of agrees to spend all of the Matching Funds is as contemplated in the BudgetGrant Application, and agrees that its failure to do so shall be deemed a material breach of this Agreement.

Total Project Cost. The total estimated cost of the Project is $ $21,000,0004,121,867, of which WCSB shall pay using the $375,000 in Matching Funds and $3,926,867 shall be provided by the Grant. To the extent that the actual The total estimated cost of the Project exceeds $21,000,000, is based upon the Company shall be responsible for such excess, not Triumph budget set forth in Exhibit "B" attached to and not Granteeincorporated into this Agreement (the "Budget"). Grantee WCSB shall monitor the Budget and submit an amended Budget to Triumph for approval in any case the event that the Budget increases or decreases by greater than five percent (5%) in which Grantee proposes the aggregate of the total cost of the Project. Any increase or decrease by greater than five percent (5%) in the aggregate of the total cost of the Project as compared to make a change to a previously the most recently approved Budget which decreases the total Budget amountshall require approval of Triumph. Triumph shall have sixty fifteen (6015) days from the receipt of a proposed amended Budget to notify WCSB of its approval or disapprovaldisapproval of such change. If Triumph fails to approve or disapprove the proposed amended Budget within such sixty fifteen (6015) day period, the proposed amended Budget shall be deemed disapprovedapproved as submitted. If Grantee WCSB fails to obtain Triumph's approval but nevertheless proceeds to implement the proposed amendmentsor deemed approval, that failure shall be sufficient cause for nonpayment by Triumph as provided in Section 4.2(f) above3.2(f). For amendments where either (a) Using its own funds and funds from other grants, WCSB agrees to bear the entire cost and expense of the Project, including but not limited to, all costs and all expenses in excess of the total Budget increases or decreases by greater than five percent (5%)estimated cost of the Project, and/or (b) the Matching Funds increase or decrease by greater than five percent (5%), the Board of Directors of Triumph must approve such amendments. If Grantee proposes an amendment with an increase or decrease of less than five percent (5%) as described above as compared to the most recent Budget approved by the Board of Directors of Triumph, Triumph staff shall have the right to approve or disapprove such amendment. It is it being expressly understood and agreed that the Grant shall operate only to paydisburse to WCSB, on and subject to the terms and conditions set forth herein, a portion of the costs and expenses to be paid by WCSB at the time(s) of such disbursement. The schedule of completion of the Project shall be developed by Triumph and WCSB as Contracts and change orders are approved as provided herein, and executed by WCSB, such schedule shall be updated and revised from time to time by Triumph and WCSB (the "Completion Schedule"). WCSB shall take all steps reasonably necessary to maintain the Completion Schedule. WCSB shall notify Triumph of any anticipated changes to the Completion Schedule and shall work with Triumph to update and revise the Completion Schedule such that it reflects the anticipated schedule of completion of the Project. Furthermore, Grantee shall ensure that the expenditure of all of the Matching Funds is as contemplated in the Budget, and agrees that its failure to do so shall be deemed a material breach of this Agreement.

Total Project Cost. The total cost of the Project is $199,019,000, of which (i) $64,100,000 shall be provided by the Grant on the terms set forth herein, and (ii) $134,919,000 shall be provided by Grantee’s cash and other funding commitments as follows (the “Matching Funds”): (a) $38,953,000 has been committed by Grantee from the new local option sales tax revenues (approved in November 2018), TIFF proceeds, and local option gas tax revenues, and (b) $95,966,000 is expected to be committed by FDOT. The total estimated cost of the Project is $21,000,000. To based upon the extent that budget set forth in Exhibit "B" attached to and incorporated into this Agreement (the actual cost of the Project exceeds $21,000,000, the Company shall be responsible for such excess, not Triumph and not Grantee"Budget"). Grantee shall monitor the Budget and submit an amended Budget to Triumph for approval in any case in which the event that (a) the total cost of the Project increases or decreases by greater than five percent (5%), (b) total the Budget increases or decreases by greater than five percent (5%), (c) the Budget increases or decreases by greater than five percent (5%) within a particular Budget category, and/or (d) Grantee’s portion of the Matching funds decreases by greater than five percent (5%). If Grantee proposes an increase or decrease by greater than five percent (5%) as described above as compared to make the most recently approved Budget, such proposal shall be submitted to Triumph in writing along with a change proposed amended Budget, and Triumph shall have the right to a previously approved approve or disapprove both the proposed Budget which decreases category increase or decrease and the total Budget amountproposed amended Budget. Triumph shall have sixty fifteen (6015) days from the receipt of a proposed amended Budget to notify Grantee of its approval or disapproval. If Triumph fails to approve or disapprove the proposed Budget category increase or decrease and/or the proposed amended Budget within such sixty fifteen (6015) day period, the proposed Budget category increase or decrease and/or the amended Budget Budget, as applicable, shall be deemed disapprovedapproved as submitted. If Grantee fails to obtain Triumph's approval but nevertheless proceeds to implement the proposed amendmentsor deemed approval, that failure shall be sufficient cause for nonpayment by Triumph as provided in Section 4.2(f) above). For amendments where either Using the Grant, its own funds, and funds from other grants (a) including, but not limited to, the Matching Funds), Grantee agrees to bear the entire cost and expense of the Project, including but not limited to, all costs and all expenses in excess of the total Budget increases or decreases by greater than five percent (5%)estimated cost of the Project, and/or (b) the Matching Funds increase or decrease by greater than five percent (5%), the Board of Directors of Triumph must approve such amendments. If Grantee proposes an amendment with an increase or decrease of less than five percent (5%) as described above as compared to the most recent Budget approved by the Board of Directors of Triumph, Triumph staff shall have the right to approve or disapprove such amendment. It is it being expressly understood and agreed that the Grant shall operate only to pay, on and subject to the terms and conditions set forth herein, a portion of the costs and expenses of the Project. Furthermore, Grantee shall ensure that the expenditure of agrees to spend all of the Matching Funds is as contemplated in the BudgetGrant Application, and agrees that its failure to do so shall be deemed a material breach of this Agreement.

Total Project Cost. The total estimated cost of the Project is $21,000,00030,000,000. To the extent that the actual cost of the Project exceeds $21,000,00030,000,000, the Company shall be responsible for such excess, not Triumph and not Grantee. Grantee shall monitor the Budget and submit an amended Budget to Triumph for approval in any case in which Grantee proposes to make a change to a previously approved Budget which decreases the total Budget amount. Triumph shall have sixty forty five (6045) days from the receipt of a proposed amended Budget to notify of its approval or disapproval. If Triumph fails to approve or disapprove the proposed amended Budget within such sixty forty five (6045) day period, the proposed amended Budget shall be deemed disapproved. If Grantee fails to obtain Triumph's approval but nevertheless proceeds to implement the proposed amendments, that failure shall be sufficient cause for nonpayment by Triumph as provided in Section 4.2(f) above. For amendments where either (a) the total Budget increases or decreases by greater than five percent (5%), and/or (b) the Matching Funds increase or decrease by greater than five percent (5%), the Board of Directors of Triumph must approve such amendments. If Grantee proposes an amendment with an increase or decrease of less than five percent (5%) as described above as compared to the most recent Budget approved by the Board of Directors of Triumph, Triumph staff shall have the right to approve or disapprove such amendment. It is expressly understood and agreed that the Grant shall operate only to pay, on and subject to the terms and conditions set forth herein, a portion of the costs and expenses of the Project. Furthermore, Grantee shall ensure that the expenditure of all of the Matching Funds is as contemplated in the Budget, and agrees that its failure to do so shall be deemed a material breach of this Agreement.

Total Project Cost. The total estimated cost of the Project is $ 672,400, of which BCSB shall pay using the $21,000,00058,400 in Matching Funds and $614,000 shall be provided by the Grant. To the extent that the actual The total estimated cost of the Project exceeds $21,000,000, is based upon the Company shall be responsible for such excess, not Triumph budget set forth in Exhibit "B" attached to and not Granteeincorporated into this Agreement (the "Budget"). Grantee BCSB shall monitor the Budget and submit an amended Budget to Triumph for approval in any case the event that the Budget increases or decreases by greater than five percent (5%) in which Grantee proposes the aggregate of the total cost of the Project. Any increase or decrease by greater than five percent (5%) in the aggregate of the total cost of the Project as compared to make a change to a previously the most recently approved Budget which decreases the total Budget amountshall require approval of Triumph. Triumph shall have sixty fifteen (6015) days from the receipt of a proposed amended Budget to notify BCSB of its approval or disapprovaldisapproval of such change. If Triumph fails to approve or disapprove the proposed amended Budget within such sixty fifteen (6015) day period, the proposed amended Budget shall be deemed disapprovedapproved as submitted. If Grantee BCSB fails to obtain Triumph's approval but nevertheless proceeds to implement the proposed amendmentsor deemed approval, that failure shall be sufficient cause for nonpayment by Triumph as provided in Section 4.2(f) above3.2(f). For amendments where either (a) Using its own funds and funds from other grants, BCSB agrees to bear the entire cost and expense of the Project, including but not limited to, all costs and all expenses in excess of the total Budget increases or decreases by greater than five percent (5%)estimated cost of the Project, and/or (b) the Matching Funds increase or decrease by greater than five percent (5%), the Board of Directors of Triumph must approve such amendments. If Grantee proposes an amendment with an increase or decrease of less than five percent (5%) as described above as compared to the most recent Budget approved by the Board of Directors of Triumph, Triumph staff shall have the right to approve or disapprove such amendment. It is it being expressly understood and agreed that the Grant shall operate only to paydisburse to BCSB, on and subject to the terms and conditions set forth herein, a portion of the costs and expenses to be paid by BCSB at the time(s) of such disbursement. The schedule of completion of the Project shall be developed by Triumph and BCSB as Contracts and change orders are approved as provided herein, and executed by BCSB, such schedule shall be updated and revised from time to time by Triumph and BCSB (the "Completion Schedule"). BCSB shall take all steps reasonably necessary to maintain the Completion Schedule. BCSB shall notify Triumph of any anticipated changes to the Completion Schedule and shall work with Triumph to update and revise the Completion Schedule such that it reflects the anticipated schedule of completion of the Project. Furthermore, Grantee shall ensure that the expenditure of all of the Matching Funds is as contemplated in the Budget, and agrees that its failure to do so shall be deemed a material breach of this Agreement.

Total Project Cost. The total cost of the Project is $744,575, of which (i) GCSD shall pay $494,575 toward instructor and paraprofessional salaries (spread out over 5 years in the annual amounts shown in the budget set forth in Exhibit "B" attached to and incorporated into this Agreement (the "Budget")) (the “Matching Funds”), and (ii) $250,000 shall be provided by the Grant. The total estimated cost of the Project is $21,000,000based upon the Budget. To the extent that the actual cost of the Project exceeds $21,000,000, the Company shall be responsible for such excess, not Triumph and not Grantee. Grantee GCSD shall monitor the Budget and submit an amended Budget to Triumph for approval in any case the event that the Budget increases or decreases by greater than five percent (5%) in which Grantee proposes the aggregate of the total cost of the Project. Any increase or decrease by greater than five percent (5%) in the aggregate of the total cost of the Project as compared to make a change to a previously the most recently approved Budget which decreases the total Budget amountshall require approval of Triumph. Triumph shall have sixty fifteen (6015) days from the receipt of a proposed amended Budget to notify GCSD of its approval or disapprovaldisapproval of such change. If Triumph fails to approve or disapprove the proposed amended Budget within such sixty fifteen (6015) day period, the proposed amended Budget shall be deemed disapprovedapproved as submitted. If Grantee GCSD fails to obtain Triumph's approval but nevertheless proceeds to implement the proposed amendmentsor deemed approval, that failure shall be sufficient cause for nonpayment by Triumph as provided in Section 4.2(f) above). For amendments where either Using the Grant, its own funds, and funds from other grants (a) including, but not limited to, the Matching Funds), GCSD agrees to bear the entire cost and expense of the Project, including but not limited to, all costs and all expenses in excess of the total Budget increases or decreases by greater than five percent (5%)estimated cost of the Project, and/or (b) the Matching Funds increase or decrease by greater than five percent (5%), the Board of Directors of Triumph must approve such amendments. If Grantee proposes an amendment with an increase or decrease of less than five percent (5%) as described above as compared to the most recent Budget approved by the Board of Directors of Triumph, Triumph staff shall have the right to approve or disapprove such amendment. It is it being expressly understood and agreed that the Grant shall operate only to pay, on and subject to the terms and conditions set forth herein, a portion of the costs and expenses of the Project. Furthermore, Grantee shall ensure that the expenditure of GCSD agrees to spend all of the Matching Funds is as contemplated in the BudgetGrant Application, and agrees that its failure to do so shall be deemed a material breach of this Agreement.

Total Project Cost. The total estimated cost of the Project is $21,000,000. To 23,000,000.00 and the extent that the actual total estimated cost of the Project exceeds $21,000,000and the other improvements described as Phases I, II, and IV in the Grant Application (collectively, the Company shall be responsible for such excess, not Triumph "Port Projects") is $61,864,000. The total estimated cost of the Project is based upon the budget set forth in Exhibit "B" attached to and not Granteeincorporated into this Agreement (the "Budget"). Grantee The Authority shall monitor the Budget and submit an amended Budget to Triumph for approval in any case the event that the Budget increases or decreases by greater than five (5) percent in which Grantee proposes the aggregate of the total cost of the Project. Any increase or decrease by greater than five (5) percent in the aggregate of the total cost of the Project as compared to make a change to a previously the most recently approved Budget which decreases the total Budget amountshall require approval of Triumph. Triumph shall have sixty fifteen (6015) days from the receipt of a proposed amended Budget to notify the Authority of its approval or disapprovaldisapproval of such change. If Triumph fails to approve or disapprove of the proposed amended Budget within such sixty fifteen (6015) day period, the proposed amended Budget shall be deemed disapprovedapproved as submitted. If Grantee the Authority fails to obtain Triumph's approval but nevertheless proceeds to implement the proposed amendmentsor deemed approval, that failure shall be sufficient cause for nonpayment by Triumph as provided in Section 4.2(f) above3.2(f). For amendments where either (a) Using its own funds and funds from other grants, the Authority agrees to bear the entire cost and expense of the Project and the other Port Projects, including but not limited to, all costs and all expenses in excess of the total Budget increases or decreases by greater than five percent (5%)estimated cost of the Project, and/or (b) the Matching Funds increase or decrease by greater than five percent (5%), the Board of Directors of Triumph must approve such amendments. If Grantee proposes an amendment with an increase or decrease of less than five percent (5%) as described above as compared to the most recent Budget approved by the Board of Directors of Triumph, Triumph staff shall have the right to approve or disapprove such amendment. It is it being expressly understood and agreed that the Grant shall operate only to payreimburse the Authority, on and subject to the terms and conditions set forth herein, for a portion of the costs and expenses theretofore paid by the Authority at the time(s) of such reimbursement. The schedule of completion of the ProjectProject and the other Port Projects shall be developed by Triumph and the Authority as Contracts and change orders are approved as provided herein, and executed by the Authority, as such schedule shall be updated and revised from time to time by Triumph and the Authority (the "Completion Schedule"). Furthermore, Grantee The Authority shall ensure take all steps reasonably necessary to maintain the Completion Schedule. The Authority shall notify Triumph of any anticipated changes to the Completion Schedule and shall work with Triumph to update and revise the Completion Schedule such that t reflects the expenditure anticipated schedule of all completion of the Matching Funds is as contemplated in the Budget, Project and agrees that its failure to do so shall be deemed a material breach of this Agreementother Port Projects.

Total Project Cost. The total estimated cost of the Project is $21,000,00018,989,828, of which (i) match is being contributed by Grantee in the amount of $9,989,828 (the “Matching Funds”), and (ii) $9,000,000 is being provided by the Grant. To the extent that the actual cost of the Project exceeds $21,000,00018,989,828, the Company Grantee shall be solely responsible for such excess, not Triumph and not Grantee. Grantee shall monitor the Budget and submit an amended Budget to Triumph for approval in any case in which Grantee proposes to make a change to a previously approved Budget which decreases the total Budget amount. Triumph shall have sixty (60) days from the receipt of a proposed amended Budget to notify of its approval or disapproval. If Triumph fails to approve or disapprove the proposed amended Budget within such sixty (60) day period, the proposed amended Budget shall be deemed disapproved. If Grantee fails to obtain Triumph's approval but nevertheless proceeds to implement the proposed amendments, that failure shall be sufficient cause for nonpayment by Triumph as provided in Section 4.2(f) aboveBudget. For amendments where either (a) the total Budget cumulatively increases or decreases by greater than five percent (5%), (b) a particular Budget category cumulatively increases or decreases by greater than five percent (5%), and/or (bc) the Matching Funds cumulatively increase or decrease by greater than five percent (5%), the Board of Directors of Triumph must approve such amendments. If Grantee proposes an amendment with an a cumulative increase or decrease of less than five percent (5%) as described above as compared to the most recent Budget approved by the Board of Directors of Triumph, Triumph staff shall have the right to approve or disapprove such amendment. It is Triumph shall have forty five (45) days from the receipt of a proposed amended Budget to notify Grantee of its approval or disapproval. If Triumph fails to approve or disapprove the proposed amended Budget within such forty five (45) day period, the proposed amended Budget shall be deemed disapproved. If Xxxxxxx fails to obtain Triumph's approval but nevertheless proceeds to implement the proposed amendments, that failure shall be sufficient cause for nonpayment by Triumph as provided in Section 4.2(f). Using the Grant, its own funds, and funds from other sources (including, but not limited to, the Matching Funds), Xxxxxxx agrees to bear the entire cost and expense of the Project, including but not limited to, all costs and all expenses in excess of the total estimated cost of the Project, it being expressly understood and agreed that the Grant shall operate only to pay, on and subject to the terms and conditions set forth herein, a portion of the costs and expenses of the Project. Furthermore, Grantee shall ensure that the expenditure of Xxxxxxx agrees to spend all of the Matching Funds is as contemplated in the Budget, and agrees that its failure to do so shall be deemed a material breach of this Agreement.

Total Project Cost. The total cost of the Project is $4,005,000.00, of which (i) Grantee shall pay $955,937.00 toward the Project and the Unmanned Safety Institute (“USI”) shall pay $790,000.00 toward the Project (collectively, the “Matching Funds”), and (ii) $2,259,063.00 shall be provided by the Grant. The total estimated cost of the Project is $21,000,000based upon the Budget. To the extent that the actual cost of the Project exceeds $21,000,0004,005,000.00, the Company Grantee shall be solely responsible for such excess, not Triumph and not Grantee. Grantee shall monitor the Budget and submit an amended Budget to Triumph for approval in any case in which the event that (a) the total cost of the Project increases or decreases by greater than five percent (5%), (b) total the Budget increases or decreases by greater than five percent (5%), (c) the Budget increases or decreases by greater than five percent (5%) within a particular Budget category, and/or (d) Grantee’s portion of the Matching funds decreases by greater than five percent (5%). If Grantee proposes an increase or decrease by greater than five percent (5%) as described above as compared to make the most recently approved Budget, such proposal shall be submitted to Triumph in writing along with a change proposed amended Budget, and Triumph shall have the right to a previously approved approve or disapprove both the proposed Budget which decreases category increase or decrease and the total Budget amountproposed amended Budget. Triumph shall have sixty fifteen (6015) days from the receipt of a proposed amended Budget to notify Grantee of its approval or disapproval. If Triumph fails to approve or disapprove the proposed Budget category increase or decrease and/or the proposed amended Budget within such sixty fifteen (6015) day period, the proposed Budget category increase or decrease and/or the amended Budget Budget, as applicable, shall be deemed disapprovedapproved as submitted. If Grantee fails to obtain Triumph's approval but nevertheless proceeds to implement the proposed amendmentsor deemed approval, that failure shall be sufficient cause for nonpayment by Triumph as provided in Section 4.2(f) above). For amendments where either Using the Grant, its own funds, and funds from other grants (a) including, but not limited to, the Matching Funds), Grantee agrees to bear the entire cost and expense of the Project, including but not limited to, all costs and all expenses in excess of the total Budget increases or decreases by greater than five percent (5%)estimated cost of the Project, and/or (b) the Matching Funds increase or decrease by greater than five percent (5%), the Board of Directors of Triumph must approve such amendments. If Grantee proposes an amendment with an increase or decrease of less than five percent (5%) as described above as compared to the most recent Budget approved by the Board of Directors of Triumph, Triumph staff shall have the right to approve or disapprove such amendment. It is it being expressly understood and agreed that the Grant shall operate only to pay, on and subject to the terms and conditions set forth herein, a portion of the costs and expenses of the Project. Furthermore, Grantee shall ensure that the expenditure of agrees to spend all of the Matching Funds is as contemplated in the BudgetGrant Application, and agrees that its failure to do so shall be deemed a material breach of this Agreement.