Examples of Approved costs in a sentence
Each Draw Request shall set forth the following: (i) a description of work performed, material supplied and/or costs incurred for which the disbursement is requested with respect to any Approved Costs shown as a line item (“Item”) in the Sources and Uses of Funds; (ii) the total amount incurred or expended for each requested Item, less prior disbursement; and (iii) the percentage of completion of the portion of the work to be paid from the Item.
The Contractor warrants that the Approved Costs represent the Contractor’s costs in delivering the Project and do not include profit.
The Program Funds shall be used exclusively for the reimbursement of Approved Costs as shown in the Project Budget, as the same may be amended from time to time with the written approval of the Department, such reimbursement for, costs to be made only after the same have been incurred by the Recipient.