Contingency Budget definition
Examples of Contingency Budget in a sentence
In the event that Contractors have costs and expenses associated with winding down their operations under this Contract after using mitigation efforts as set forth herein for a period of sixty (60) days after the effective date of the termination of this Contract, State will reimburse Contractors reasonable and documented expenses and costs for wind down operation as set forth in Exhibit E using the Contingency Budget.
In the event that Contractors have costs and expenses associated with winding down their operations under this Contract after using mitigation efforts as set forth herein for a period of sixty (60) days after the effective date of the termination of this Contract, State will reimburse Contractors reasonable and documented expenses and costs for winding down the operation as set forth in Exhibit E using the Contingency Budget.
At Closing, the funds in the Owner's Contingency Budget Line Item must be in an amount equal to $5,100,000.00, and at Full Loan Opening, the remaining unallocated Owner's Contingency must equal at least 4% of the unpaid cost of all construction hard cost Budget Line Items.
The Contingency Budget includes everything from the Primary Budget plus support for a Budget’s largest single proposed project is the “Large Office Building and adjacent Parking Structure” with $8,900,000 reserved for it.
The Contingency Budget includes everything from the Primary Budget plus support for a “Large Office Building and adjacent Parking Structure”.
At Closing, the funds in the (i) Owner’s Hard Cost Contingency Budget Line Item must be in an amount equal to $8,000,000, and at no time shall the Owner’s Hard Cost Contingency be reduced below $8,000,000 to pay for an increase in the initial contractual amount of such General Contract, and (b) the Soft Cost Contingency Budget Line Item must be in an amount equal to $750,000.
The Agency will collect and retain 60% of the District Tax Increment until and including Year Twenty or until the Agency has collected and retained from the District a total of $8,440,000 (Primary Budget or if the Building Benchmark (as defined below) is not reached) or $13,808,000 (Contingency Budget or if the benchmark is met), whichever comes first.
Some of these risks have been considered in the finalization of the Unallocated Contingency Budget and others have been factored into the Team’s evaluation and recommendations.
The Client will be informed of the reasons for the release of the Contingency Budget and any associated changes to the project scope or timeline of the Project Services.