Class 3 Estimate definition

Class 3 Estimate means an estimate with an expected accuracy within +30% to -20%.
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Class 3 Estimate means an estimate used to for budget authorization. The maturity level of the final overall design deliverables shall range from 10 percent to 40 percent. The typical costing methodology shall be semi-detailed unit costs with assembly level line items. The expected low to high variation in the accuracy range based on the complexity and remoteness of this Work shall be minus 20 percent to plus 30 percent with an 80 percent confidence interval;
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Class 3 Estimate means preliminary design, for budget authorization. The accuracy of the cost estimate shall be -20% to +30%;
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Examples of Class 3 Estimate in a sentence

  • The following key schedule milestones as provided by the consultant are as follows: 1 Consultant Class 5 Estimate2 Consultant Class 3 Estimate Detailed design and construction schedule for the main NEWPCC Upgrade Project will be provided upon project award to the Design Builder.

  • As a Class 3 Estimate, the expected accuracy range from the point value provided is -20% to+30%.

  • Due to the level of Scope and Technical Definition for this Pre-Authorization estimate (Limited-Fair) the Civil Works Estimate currently falls into a Class 3 Estimate, based on ER 1110-2-1302.

  • Key schedule milestones for the NEWPCC Power Supply Upgrade project’s professional engineering services, as provided by the consultant, are as follows: 1 Consultant Class 5 Estimate2 Consultant Class 3 Estimate Detailed design and construction schedule for the NEWPCC Power Supply Upgrade Project will be provided upon project award to the Design Builder.

  • The Parties agree that the Phase 1 All-In Estimate is not a Class 3 Estimate, as required in the Water Supply Agreement, but is a mix of Class 3 and 4 estimates.

  • ESTIMATE CLASSIFICATIONAs per “ER 1110-2-1302 - Civil Works Cost Engineering, (15 Sept 2008)” this estimate has been developed to a Class 3 Estimate.

  • The project is expected to cost $335.6 million (Class 3 Estimate).

  • The project is expected to cost $335.6 million (Class 3 Estimate) and be complete in 2019 with an important milestone to meet new effluent limits by the end July 2018.

  • Risk A Class 3 Estimate was in place when Council approved the project on February 24, 2016.

  • The following key schedule milestones for the NEWPCC Upgrade project’s professional engineering services, as provided by the consultant are as follows: 1 Consultant Class 5 Estimate2 Consultant Class 3 Estimate More detail project schedule information will be developed upon the completion of the project preliminary design phase and will be updated in future reports.


More Definitions of Class 3 Estimate

Class 3 Estimate means an estimate for the design and construction of the Physical Facilities and WTP based on and meeting the “Class 3” requirements, as such requirements are described in the AACE Guide.
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Related to Class 3 Estimate

  • SF1-4 Intrinsic Loss Estimate means total losses under this Single Family Shared-Loss Agreement in the amount of eleven million dollars ($11,000,000.00).

  • Cost Estimate means the detailed projected expenditure, including material costs and overhead, equipment costs and overhead, labor costs and overhead, and all taxes associated with each major material and service component, required for a line extension. It shall also separately identify any incremental costs associated with providing premium services. The Company may, for the purpose of standardization, establish standard construction cost estimates, for basic or premium service plans, which shall not exceed, in any event, the average cost of constructing such line extensions in the area involved, in which case the term “cost estimate” as used in this section will be understood to mean the standard estimate thus established.

  • Intrinsic Loss Estimate means total losses under the shared loss agreements in the amount of One hundred Sixty-eight million dollars ($168,000,000.00).

  • Monthly Loss Amount means the sum of all Foreclosure Losses, Restructuring Losses, Short Sale Losses, Portfolio Losses, Modification Default Losses and Deficient Losses realized by the Assuming Institution for any Shared Loss Month.

  • Monthly Shared-Loss Amount means the change in the Cumulative Shared- Loss Amount from the beginning of each month to the end of each month.

  • Fraud Loss Amount As of any date of determination after the Cut-off Date, an amount equal to: (X) prior to the first anniversary of the Cut-off Date an amount equal to 3.00% of the aggregate outstanding principal balance of all of the Mortgage Loans as of the Cut-off Date minus the aggregate amount of Fraud Losses allocated solely to one or more specific Classes of Certificates in accordance with Section 4.05 of this Series Supplement since the Cut-off Date up to such date of determination, (Y) from the first to, but not including, the second anniversary of the Cut-off Date, an amount equal to (1) the lesser of (a) the Fraud Loss Amount as of the most recent anniversary of the Cut-off Date and (b) 2.00% of the aggregate outstanding principal balance of all of the Mortgage Loans as of the most recent anniversary of the Cut-off Date minus (2) the aggregate amount of Fraud Losses allocated solely to one or more specific Classes of Certificates in accordance with Section 4.05 since the most recent anniversary of the Cut-off Date up to such date of determination, and (Z) from the second to, but not including, the fifth anniversary of the Cut-off Date, an amount equal to (1) the lesser of (a) the Fraud Loss Amount as of the most recent anniversary of the Cut-off Date and (b) 1.00% of the aggregate outstanding principal balance of all of the Mortgage Loans as of the most recent anniversary of the Cut-off Date minus (2) the aggregate amount of Fraud Losses allocated solely to one or more specific Classes of Certificates in accordance with Section 4.05 since the most recent anniversary of the Cut-off Date up to such date of determination. On and after the fifth anniversary of the Cut-off Date, the Fraud Loss Amount shall be zero. The Fraud Loss Amount may be further reduced by the Master Servicer (including accelerating the manner in which such coverage is reduced) provided that prior to any such reduction, the Master Servicer shall (i) obtain written confirmation from each Rating Agency that such reduction shall not reduce the rating assigned to any Class of Certificates by such Rating Agency below the lower of the then-current rating or the rating assigned to such Certificates as of the Closing Date by such Rating Agency and (ii) provide a copy of such written confirmation to the Trustee.

  • Estimated Value means the value of the Contract estimated under these Contract and Procurement Regulations.

  • Class A Monthly Interest shall have the meaning specified in subsection 4.02(a).

  • Total Intrinsic Loss Estimate means the sum of the SF1-4 Intrinsic Loss Estimate in the Single Family Shared-Loss Agreement, and the Commercial Intrinsic Loss Estimate in the Commercial Shared-Loss Agreement, expressed in dollars.

  • Liquidation Loss Amount With respect to any Payment Date and any Mortgage Loan that became a Liquidated Mortgage Loan during the related Collection Period, the unrecovered portion of the Principal Balance of such Mortgage Loan and any unpaid accrued interest thereon at the end of such Collection Period, after giving effect to the Net Liquidation Proceeds applied in reduction of such Principal Balance.

  • Net Loss Amount means the sum of Cumulative Loss Amounts under this Single Family Shared-Loss Agreement and Aggregate Net Charge-Offs under the Commercial Shared-Loss Agreement.

  • Allocated Realized Loss Amount With respect to any Distribution Date and any Class of Mezzanine Certificates, the sum of (i) any Realized Losses allocated to such Class of Certificates on such Distribution Date and (ii) the amount of any Allocated Realized Loss Amount for such Class of Certificates remaining unpaid from the previous Distribution Date.

  • Loss Amount means the dollar amount of loss incurred and reported on the Monthly Certificate for a Shared-Loss Loan.

  • Class A-1 Monthly Interest means (i) for the initial Distribution Date, $[ ], and (ii) for any Distribution Date thereafter, the product of (A) the actual number of days elapsed during the period from and including the preceding Distribution Date to but excluding such Distribution Date divided by 360, (B) the Class A-1 Rate and (C) the outstanding principal balance of the Class A-1 Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class A-1 Notes on or before such preceding Distribution Date).

  • Class A-2 Monthly Interest means (i) for the initial Distribution Date, $[_______________], and (ii) for any Distribution Date thereafter, one-twelfth of the product of (A) the Class A-2 Rate and (B) the outstanding principal balance of the Class A-2 Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class A-2 Notes on or before such preceding Distribution Date).

  • Shared-Loss Amount has the meaning provided in Section 2.1(b)(i) of this Commercial Shared-Loss Agreement.

  • Class A-4 Monthly Interest means (i) for the initial Distribution Date, $[ ], and (ii) for any Distribution Date thereafter, one-twelfth of the product of (A) the Class A-4 Rate and (B) the outstanding principal balance of the Class A-4 Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class A-4 Notes on or before such preceding Distribution Date).

  • Class B Monthly Interest shall have the meaning specified in subsection 4.02(b).

  • Class C Monthly Interest is defined in Section 4.1(c).

  • Class A-3 Monthly Interest means (i) for the initial Distribution Date, $[ ], and (ii) for any Distribution Date thereafter, one-twelfth of the product of (A) the Class A-3 Rate and (B) the outstanding principal balance of the Class A-3 Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class A-3 Notes on or before such preceding Distribution Date).

  • Class B-1 Applied Realized Loss Amount As of any Distribution Date, the sum of all Applied Realized Loss Amounts with respect to the Mortgage Loans which have been applied to the reduction of the Certificate Principal Balance of the Class B-1 Certificates.

  • Estimate means to be based on technical evaluation of the sources contributing to the discharge including, but not limited to, pump capabilities, water meters, and batch discharge volumes.

  • Class X Notional Balance With respect to any Distribution Date (and the related Accrual Period) the aggregate principal balance of the regular interests in REMIC 3 as specified in the Preliminary Statement hereto.

  • Unpaid estimated income tax means estimated income tax due but not paid by the date the tax is required to be paid under applicable law.

  • Class C Applied Realized Loss Amount As of any Distribution Date, the sum of all Applied Realized Loss Amounts with respect to the Mortgage Loans which have been applied to the reduction of the Certificate Principal Balance of the Class C Certificates.

  • Unrecovered Initial Unit Price means at any time, with respect to a Unit, the Initial Unit Price less the sum of all distributions constituting Capital Surplus theretofore made in respect of an Initial Common Unit and any distributions of cash (or the Net Agreed Value of any distributions in kind) in connection with the dissolution and liquidation of the Partnership theretofore made in respect of an Initial Common Unit, adjusted as the General Partner determines to be appropriate to give effect to any distribution, subdivision or combination of such Units.