Approved Construction Costs definition

Approved Construction Costs means the Construction Costs identified by line item category and dollar amount in the Approved Construction Budget, other than Costs Previously Paid.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Approved Construction Costs means the Architect's estimate of Construction Costs approved by the Band and Great Lakes pursuant to Section 5.8.

Approved Construction Costs means the Project Costs that are eligible for reimbursement in accordance with the terms of this Agreement.

Examples of Approved Construction Costs in a sentence

The Board of Directors of the TIF DISTRICT, by Resolution No. TIF-10-14-14-95 adopted the 14th day of October, 2014, recommends reimbursement of Eligible Approved Construction Costs in an amount not to exceed $44,000,000.
Borrower may from time to time request that portions of the soft cost contingency line item be reallocated to other Approved Construction Costs line items for soft costs.
The proceeds of the Loans will be disbursed in conformance with the Approved Construction Costs and Bondowner Representative’s standard policies and procedures for disbursement of construction loans.
The proceeds of Advances shall only be used by the Borrower to pay Approved Construction Costs actually incurred in connection with the construction of the Improvements.
The City agrees to reimburse Company for Approved Construction Costs described on Exhibit “B” of this Agreement, in an amount determined according to Section 1.10 of the Development Agreement, but not to exceed $44,000,000 as provided herein.
The City agrees to reimburse Company for Approved Construction Costs described on Exhibit “B” of this Agreement, in an amount determined according to Section 1.10 of the Entertainment Center Development Agreement, but not to exceed $44,000,000 as provided herein.
For the purposes of this Lease, the Approved Construction Costs shall mean the lesser of the total of actual Project Costs for cost categories set forth on Exhibit D or the Guaranteed Maximum Cost agreed to by Landlord and Tenant as the maximum total of the cost categories set forth on Exhibit D (for purposes of this Lease “Guaranteed Maximum Cost” is inclusive of more costs than the Landlord’s Contractor’s Guaranteed Maximum Cost as that term is used in the Landlord’s Construction Contract).
Each Loan advanced in connection with an Earnout: (x) shall in no event exceed nine percent (9%) of the Approved Construction Costs of the respective Approved Motel Facility; and (y) shall be evidenced by the Earnout Note (the aggregate amount of the Loans funded hereunder in connection with an Earnout is collectively referred to as the "Earnout Tranche").
Bondowner Representative shall deposit or cause to be deposited all Disbursements from other Funding Sources for Approved Construction Costs into the Construction Account.
Borrower hereby represents and warrants to the Administrative Agent and the Lenders that it has, as of the date hereof, made cash equity contributions and/or loans to Co-Borrower of not less than $225,000,000, which funds have been applied prior to the Initial Funding Date solely to pay Approved Construction Costs (the "First Required Contributions").

More Definitions of Approved Construction Costs

Approved Construction Costs means the hard and soft costs of constructing the Project, as shown on the Approved Budget.

Approved Construction Costs means costs of construction of the Project which are reflected in the Approved Construction Budget and any other Construction Costs which are approved by the Agent as a part of a Draw Request or as otherwise provided in this Agreement.

Approved Construction Costs means the Construction Costs identified by line item category and dollar amount in the Approved Construction Budget (or, until the Approved Construction Budget is in effect, the Initial Construction Budget).

Approved Construction Costs means, with respect to each Proposed Motel Facility, the estimated costs, as the same may be amended from time to time, to be incurred by Motel Developer with respect to acquiring the real property and constructing the improvements thereon (including but not limited to, (i) costs for land acquisition and site improvements thereto, (ii) costs for environmental inspections, soil analysis, title insurance, permits and other predevelopment items; (iii) all hard costs, including contingency, (iv) all legal, architectural, engineering and other professional fees and disbursements, (v) all soft costs incurred in connection with the acquisition and development, (vi) $20,000 for each Approved Motel Facility representing the allocable share of all fees payable in connection with the Commitment (including, but not limited to legal and other professional fees and expenses, financing and advisory fees payable to the Lender in connection with the negotiation and execution of this Agreement), (vii) legal fees, title insurance premiums and other customary closing expenses incurred in connection with the acquisition of each Approved Motel Facility and the closing of each respective Loan and (viii) the Motel Developer Supervisory Fee, which estimated costs set forth in clauses (i) through (viii) of this definition are set forth on a budget, (and if amended, on an amended budget) submitted to and approved by the Lender, which approval will not be unreasonably withheld or delayed.

Approved Construction Costs means any Construction Costs that: (a) consistent with Good Operating Practices and applicable Law, must be incurred prior to (and cannot be delayed, consistent with Good Operating Practices and applicable Law, until after) the UPSC Approval Deadline in order to achieve Commercial Operation by the Commercial Operation Deadline; (b) Seller requests prior written approval from Purchaser to incur such Construction Costs prior to the UPSC Approval Deadline, such request to provide specific details as to the Construction Costs and the reasons Seller believes such Construction Costs must be incurred prior to the applicable UPCS Approval Deadline; and (c) Purchaser approves in writing Seller incurring such Construction Costs, such approval to be in Purchaser’s sole discretion.

Approved Construction Costs means the costs incurred by Borrower in connection with the construction of the Construction Work and consistent with (and no more than) the anticipated costs set forth in the Approved Construction Budget.