Cost Overrun definition

Cost Overrun means an obligation exceeding the maxi- mum capital expenditure authorized by an approval.

Cost Overrun means an increase in the Total Development Costs;

Cost Overrun means the amount by which Construction Costs exceed the Indexed Bid Construction Costs.

Examples of Cost Overrun in a sentence

• From time to time during the Term, either Party may submit to the Europe JSC any proposed update to the Shared Development Budget, including in connection with any update to the Cross-Territory Clinical Development Plan or to address a potential Cost Overrun.

• If the Europe JSC (or the Executive Committee if the Europe JSC cannot agree) does not approve an update to the Shared Development Budget to reflect the anticipated Cost Overrun, then [***] and, to the extent [***].

• Thereafter, the Europe JSC (or other designated Subcommittee) shall promptly hold an ad-hoc meeting to evaluate whether there are mitigation measures to prevent the Cost Overrun, and if not, the Europe JSC (or other designated Subcommittee) will discuss what steps to take to address such Cost Overrun, including updating the Shared Development Budget or the Cross-Territory Clinical Development Plan, as applicable.

More Definitions of Cost Overrun

Cost Overrun means any Project Cost in excess of the amount budgeted for Base Project Costs as in effect on the date of the Common Agreement (after taking into account any reallocations of Owner’s Contingency among line items in accordance with Section 2.1 and Section 6.8(b) of the Common Agreement.)

Cost Overrun means the difference (if a negative number) between the estimated cost of each stage of the development provided to, and approved by, us and the actual amount required to complete that stage of the development;

Cost Overrun means, with respect to each Authorized Improvement, the Cost or Actual Cost as appropriate of such Authorized Improvement in excess the Budgeted Cost.

Cost Overrun has the meaning set forth in Section 2.5.3.

Cost Overrun has the meaning set forth in Section 4.3(d).

Cost Overrun. Any Project Cost in excess of the Base Project Cost (excluding the Overrun Contingencies) amount budgeted therefor in the relevant line item of the Project Budget as in effect on the Common Agreement Date (after taking into account any reallocations (other than from Overrun Contingencies) among line items permitted pursuant to Section 6.8(b) of the Common Agreement.)

Cost Overrun means an amount determined at the sole discretion of the Lender, acting on the advice of its quantity cost surveyor, by which the actual cost of construction of a portion of the Project (determined on a line-by-line basis) exceeds the amount established for construction of that portion of the Project (determined on a line-by-line basis) in the Budget;