Contingency Costs definition

Contingency Costs means those items of Cost of the Work attributable to a contingency for which the Owner is responsible and which are payable by the Owner to the Design/Builder pursuant to a Change Order as provided in Article 6.
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Contingency Costs means those reasonable costs actually incurred incident to the performance of Work under this Agreement and prior to Project Completion of the Project, which are not reimbursable as a Cost of the Work, are not attributable to Willbros’ negligence, willful misconduct or breach of this Agreement, are not recoverable from Subcontractors, Vendors or insurers, and for which records required hereunder exist and are contemporaneously prepared and maintained (“Contingency Costs”).
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Contingency Costs means unforeseen costs or situations not included in the estimate of project costs.
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Examples of Contingency Costs in a sentence

  • Such audit shall also take into consideration Contingency Costs expended and the Willbros Management Fee in order to calculate the Actual Contract Amount in accordance with Paragraph 2.2 of Attachment I to the Letter Agreement.

  • Subject to additions and deductions by Change Order, Cheniere shall pay Willbros for performance of the Work to be performed by Willbros for the Project as described in this Agreement and Schedule “B”, the “Contract Amount” consisting of (i) the Cost of the Work, (ii) the Willbros Management Fee, (iii) Contingency Costs, and (iv) Louisiana sales and use taxes applicable to permanent materials and equipment to be incorporated into the Project.

  • If Willbros fails to submit the Dispute within such seven (7) day period, Willbros shall be deemed to have agreed with Cheniere’s accountants report on the Cost of the Work and Contingency Costs.

  • If Cheniere’s accountants report the Cost of the Work and Contingency Costs as substantiated by Willbros final audit to be less than claimed by Willbros, and Willbros disagrees with Cheniere’s accountants reporting of the Cost of the Work and Contingency Costs, Willbros has the right, within seven (7) days of its receipt of the Cheniere’s accountants’ report, to submit the Dispute for resolution in accordance with Paragraph 14.

  • Contingency: Costs for a future event or circumstance which is possible, but can not be predicted with certainty.

  • Notwithstanding to the contrary set forth herein, the SP Contingency shall be included in Subleased Premises Agreed Costs only to the extent used by Overlandlord for SP Contingency Costs.


More Definitions of Contingency Costs

Contingency Costs means a general contingency on account of cost overruns over and above the Budgeted Costs [forecasted at a rate of 10% of the price (calculated before HST) set out in the accepted proposal(s) from the consultants engaged for the EA Process.]
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Contingency Costs means unforeseen costs or situations which are not included in the estimate of project costs and shall not exceed 10 percent of the estimated eligible construction cost to the nearest dollar for which a grant is made under the act. Upon receipt of bids, the contingency costs shall be reduced to notmore than five percent of the actual eligible construction costs as bid.
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Contingency Costs means any amount of money budgeted for any unforeseen activities; "debris" means any loose fragments or material;
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Contingency Costs means those items of Contract Price attributable to a contingency, if any.
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Contingency Costs means those items of Cost of the Work attributable to a contingency for which CITY is responsible and which are payable by CITY to CONTRACTOR pursuant to a Change Order as provided in Article 6.
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Contingency Costs means, collectively, (i) for any item or category identified in the Construction Budget, an amount equal to the excess of (A) the actual cost of such item or category to the Borrower over (B) the cost of such item or category set forth in the Construction Budget and (ii) for any cost incurred by the Borrower prior to the Maturity Date to construct and finance the construction of the Project which is not accounted for in the Construction Budget, the actual amount of such cost incurred by the Borrower.
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Related to Contingency Costs

  • Reimbursable Costs means expenses incurred by the employee in the course of engaging in the planned learning activity and include registration, tuition and examination fees as well as textbooks/discs and applicable taxes. They may also include reasonable, incremental meal, accommodation and travel expenses.

  • Direct Costs means the sum of the following:

  • Costs of the Project means Recipient’s actual costs (including any financing costs properly allocable to the Project) that are (a) reasonable, necessary and directly related to the Project, (b) permitted by generally accepted accounting principles to be Costs of the Project, and (c) are eligible or permitted uses of the Financing Proceeds under applicable state or federal statute and rule.

  • Company Reimbursable Costs means the actual costs and expenses incurred by Company and/or its Affiliates in connection with performance of the Company Work or otherwise incurred by Company and/or its Affiliates in connection with this Agreement, and including, without limitation, any such costs that may have been incurred by Company and/or its Affiliates in connection with the Company Work or this Agreement prior to the Effective Date. These Company Reimbursable Costs shall include, without limitation, the actual expenses for labor (including, without limitation, internal labor), services, materials, subcontracts, equipment or other expenses incurred in the execution of the Company Work, all applicable overhead, overtime costs, all federal, state and local taxes incurred (including, without limitation, all taxes arising from amounts paid to Company that are deemed to be contributions in aid of construction), all costs of outside experts, consultants, counsel and contractors, all other third-party fees and costs, and all costs of obtaining any required permits, rights, consents, releases, approvals, or authorizations acquired by or on behalf of Company, including, without limitation, the Required Approvals.

  • Administrative Costs means all costs and expenses associated with providing notice of the Class Settlement Agreement to the Settlement Class, Claims Administration, and otherwise administering and carrying out the terms of this Class Settlement Agreement.

  • Reimbursable item also means “allowable cost” and “compensable item.”

  • Total Costs means the sum of all direct and indirect costs associated with the purchase of the goods incurred by CPUT, including but not limited to the invoice price, goods life, service costs, distribution costs, transaction costs, inventory costs, purchasing administration costs and other costs incurred with the use of the goods provided by the Bidder.

  • Additional Costs has the meaning given that term in Section 4.1.

  • Closing Costs means, collectively, all initial costs and fees that identified above and in Section 16 that Seller agrees to pay to Buyer as consideration for agreeing to enter into this Agreement.

  • Qualified Costs means an electric utility's regulatory assets as determined by the commission, adjusted by the applicable portion of related investment tax credits, plus any costs that the commission determines that the electric utility would be unlikely to collect in a competitive market, including, but not limited to, retail open access implementation costs and the costs of a commission approved restructuring, buyout or buy-down of a power purchase contract, together with the costs of issuing, supporting, and servicing securitization bonds and any costs of retiring and refunding the electric utility's existing debt and equity securities in connection with the issuance of securitization bonds. Qualified costs include taxes related to the recovery of securitization charges.

  • Financing Costs means for each calendar day the product of:

  • Project Costs means all allowable costs, as set forth in the applicable Federal cost principles, incurred by a recipient and the value of the contribu- tions made by third parties in accom- plishing the objectives of the award during the project period.

  • Incremental Costs means all reasonable additional costs properly and reasonably incurred by Network Rail in respect of any modification referred to in paragraph 2.8, being the additional reasonable costs (if any) to Network Rail in respect of its obligation to maintain and operate the Network, but excluding:

  • Collateral costs as used in this clause, means agency cost of operation, maintenance, logistic support, or Government-furnished property.

  • Allocable Overhead means, at any time with respect to each Qualifying Project, an amount equal to (1) the amount of corporate or other organizational overhead expenses of, and actually incurred by, Wynn Resorts and its Subsidiaries calculated in good faith on a consolidated basis, after the elimination of intercompany transactions, in accordance with GAAP, divided by (2) the number of Qualifying Projects. However, amounts allocated to any Qualifying Project shall be prorated based on the period within such period that such Qualifying Project was in operation or financing therefor was obtained. With respect to any amounts payable pursuant to any agreements entered into by and among Wynn Resorts, any of its Subsidiaries and/or any of their respective Affiliates, any payment in respect of Allocable Overhead shall not include any fee, profit or similar component and shall represent only the payment or reimbursement of actual costs and expenses.