Approved Construction Budget definition

Approved Construction Budget. The Owner’s designated budget for the Cost of Construction, as indicated on the Pre-design Scope, Budget and Schedule Confirmation Form. Basis of Design: Documentation of the primary concepts and assumptions, influencing design decisions to comply with the design intent. The basis of design specifically describes the systems, components, conditions, and methods chosen to meet the design intent.

Approved Construction Budget means the construction budget prepared by the Borrower and approved by the Administrative Agent, the Lenders and the Independent Engineer specifying the cost by category of all Project Costs, as the same may be supplemented or amended from time to time with the approval of the Administrative Agent.

Approved Construction Budget means the budget prepared in the manner set forth in Section 2.2(b) in connection with the development and construction of the Facility, which has been approved by Developer and the Tribe.

Examples of Approved Construction Budget in a sentence

• The Professional shall provide a reconciliation to the previous cost estimate and the Approved Construction Budget.

• The Professional shall not approve any such submittals unless such submittals conform to (i) the Project design concept; (ii) the Construction Documents; (iii) the Contracts for Construction; and (iv) the Owner’s Approved Construction Budget.

• The Professional shall not approve any such proposed equal materials or equipment unless such equals conform to (i) the Project design concept; (ii) the Construction Documents; (iii) the Contracts for Construction; and (iv) the Owner’s Approved Construction Budget.

• The Applicable Approved Construction Budget shall serve as the basis upon which advances of the Applicable Underlying Loan are made on account of each of the categories set forth therein (the costs disclosed on the Applicable Approved Construction Budget and approved in writing by Lender shall hereinafter be referred to as the "Approved Costs").

• As used in this Agreement, “Affiliate” means any entity in which the Company has, directly or indirectly through one or more intermediaries, a controlling interest or which has, directly or indirectly through one or more intermediaries, a controlling interest in the Company, within the meaning of Treasury Regulation § 1.409A-1(b)(5)(iii)(E)).

More Definitions of Approved Construction Budget

Approved Construction Budget means the budget for construction of the Project as approved by the Administrative Agent on the advice of the Construction Consultant on or before the Effective Date, a copy of which budget is attached hereto as Schedule 1, together with any modifications thereto so approved and any further modifications thereto made thereafter that are either Permissible Modifications or are approved in writing by Texas Resort Owner and the Administrative Agent in accordance with the terms of this Agreement.

Approved Construction Budget means the budget for total estimated Construction Costs, dated as of the date hereof and attached hereto as Exhibit B, as the same may be amended from time to time with the approval of the Agent or as otherwise specifically permitted in this Agreement.

Approved Construction Budget means the budget prepared by the Company, in form and substance satisfactory to the Agent, which budget specifies the estimated Actual Project Costs including: (a) all labor, materials and services necessary for the design, engineering, construction (including any fees which may be due to the Construction Agent), testing and start-up of the Improvements in accordance with the Construction Plans and (b) all interest and Distribution expenses, Facility Fees and Upfront Fees anticipated by the Company incident to the Advances made under the Interim Notes and the Investment made under the Certificates and the expenses to be incurred in connection with the design, engineering, procurement, construction, testing and start-up of the Improvements, as the same may be amended from time to time in accordance with the provisions of the Participation Agreement and the Agency Agreement.

Approved Construction Budget means the construction budget attached hereto as Schedule 7.2, as the same may be amended from time to time with the approval of Lender (and the Approved Construction Budget and Schedule 7.2 shall be deemed to be updated to the extent such approval is obtained).

Approved Construction Budget means the Initial Construction Budget as and when approved by the Administrative Agent on the advice of the Construction Consultant on or before the date which is 30 days after the Effective Date, together with any modifications thereto so approved and any further modifications thereto made thereafter that are either Permissible Modifications or are approved in writing by Borrower, Co-Borrower and the Administrative Agent in accordance with the terms of this Agreement.

Approved Construction Budget means the construction budget approved by The City as at the date of the Agreement, or such replacement approved construction budget as The City may provide to the Construction Manager, which represents the estimated and budgeted Construction Cost.

Approved Construction Budget means, with respect to a Xxxxxxx Inn Hotel covered by an Approved Franchisee Loan, a Construction Budget as approved by the Independent Construction Loan Monitor and the Administrative Agent.