Budgeted Construction Cost definition

Budgeted Construction Cost means, with respect to Property on which vertical construction of Improvements (including redevelopments consisting of or described as vacant buildings, but excluding TI Work and excluding work prior to erection of the structure of the building) has commenced and is proceeding to completion in the ordinary course but has not yet been completed (as such completion shall be evidenced by a temporary or permanent certificate of occupancy permitting use of such Property by the general public), the aggregate full-budgeted costs of construction of such Improvements (including land acquisition costs and other soft costs

Budgeted Construction Cost means, with respect to Property on which vertical construction of Improvements (including redevelopments consisting of or described as vacant buildings, but excluding TI Work and excluding work prior to erection of the structure of the building) has commenced and is proceeding to completion in the ordinary course but has not yet been completed (as such completion shall be evidenced by a temporary or permanent certificate of occupancy permitting use of such Property by the general public), the aggregate full-budgeted costs of construction of such Improvements (including land acquisition costs and other soft costs and TI Work relating to such Property, in accordance with GAAP); provided that Budgeted Construction Cost shall exclude build-to-suit Projects that are seventy-five percent (75%) pre-leased or Projects which are less than seventy-five percent (75%) pre-leased but have a pro-forma yield of ten percent (10%) or more, based upon executed leases and the cost of acquisition plus the estimated cost to complete the same, which estimated cost to complete shall be determined in a manner reasonably acceptable to the Administrative Agent and the Syndication Agent.

Budgeted Construction Cost means, with respect to Property on which vertical construction of Improvements (including redevelopments consisting of or described as vacant buildings, but excluding TI Work and excluding work prior to erection of the structure of the building) has commenced and is proceeding to completion in the ordinary course but has not yet been completed (as such completion shall be evidenced by a temporary or permanent certificate of occupancy permitting use of such Property by the general public), the aggregate full-budgeted costs of construction of such Improvements (including land acquisition costs and other soft costs and TI Work relating to such Property, in accordance with GAAP); provided that Budgeted Construction Cost shall exclude build-to-suit Projects that are seventy-five percent (75%) pre-leased or Projects which are less than seventy-five percent (75%) pre-leased but have a pro-forma yield of ten percent (10%) or more, based upon executed leases and the cost of acquisition plus the estimated cost to complete the same, which estimated cost to complete shall be determined in a manner reasonably acceptable to the Administrative Agent.

Examples of Budgeted Construction Cost in a sentence

• If the lowest responsible bid is within the fixed limit of total Budgeted Construction Cost for the Project, or the ARCHITECT's latest detailed estimate of Probable Construction Cost is still less than the fixed limit of total Budgeted Construction Cost for the Project, established as a condition of this Contract, CITY shall pay the ARCHITECT fees for Basic Services in accordance with this Contract.

• In the case of (3), ARCHITECT, without additional charge to CITY, shall immediately modify the Drawings and Specifications as necessary to bring the Project cost within the fixed limit of total Budgeted Construction Cost, or within any higher fixed limit subsequently authorized by CITY.

• The fixed limit of total Budgeted Construction Cost for this Project is.

• The providing of the service as described above shall be the limit of ARCHITECT's responsibility to bring the Project cost within the fixed limit of total Budgeted Construction Cost, and if ARCHITECT does so, ARCHITECT shall be entitled to its fees for Basic Services in accordance with this Contract.

• Point out specific strategies you have employed in the past to ensure that sustainable design goals, as measured by the points score sheet associated with these programs, are achieved in the finished project?• Demonstrate your experience satisfying the City of Cambridge residency, MBE/WBE requirements or other Massachusetts cities or towns, and document your success.

More Definitions of Budgeted Construction Cost

Budgeted Construction Cost means, with respect to Property on which

Budgeted Construction Cost means the original budgeted construction cost, excluding engineering costs, contingencies and administrative costs, costs for fees and permits, and indirect costs, such as interest during construction, advertising, legal fees and the like.

Budgeted Construction Cost means, with respect to Property on which vertical construction of Improvements (including redevelopments consisting of

Budgeted Construction Cost means the District’s estimated total cost for construction excluding the Architect’s fee and excluding the cost of services and materials furnished by the District.

Budgeted Construction Cost means that amount determined by the City Engineer or other designated person as the price of a public project before its design begins, and shall not include land acquisition costs, administration, or testing and consultant fees.

Budgeted Construction Cost means the anticipated Construction Cost of the Project excluding the initial funding of the O&M Account, the O&M Reserve Account and the Debt Payment Accounts, as confirmed by the Independent Engineer and set forth in the construction budget as of the Closing Date and included in the Approved Budget, with some level of initial working capital as agreed between the COP Lender and the Borrower.

Budgeted Construction Cost means the maximum monetary amount budgeted by Owner for all Construction Phase services, materials, labor and other work required of Contractor for completion of the Work in accordance with this Master Agreement. The Budgeted Construction Cost includes, without limitation, the general conditions costs, the Cost of the Work, the Construction Phase Fee and Contractor’s Contingency. The Budgeted Construction Cost may be adjusted by the Parties for changes in the scope of the Project before or after acceptance of a Guaranteed Maximum Price Proposal. The Budgeted Construction Cost does not include Owner’s Construction Contingency. The Owner may increase the Budgeted Construction Cost at the Owner's sole discretion if doing so is in the best interest of the Project or the State.