Cost Overruns definition
Cost Overruns. The meaning set forth in the Development Agreement.
Cost Overruns shall have the meaning set forth in Section 12.1 of this Agreement. “County” shall have the meaning set forth in the Recitals of this Agreement.
Cost Overruns means those Public Improvement Project Costs that exceed the budget cost set forth in the SAP(s) plus the Developer Cash Contribution.
Examples of Cost Overruns in a sentence
No additional contribution, back charge, payment, or charge shall be charged against, withheld from, or assessed against MEDC or the other City Parties for any Cost Overruns (as hereinafter defined).
More Definitions of Cost Overruns
Cost Overruns. Any Project Construction Costs and Development Costs over and above those set out in the Investment and Financing Plan;
Cost Overruns shall have the meaning set forth in the Development Agreement. “County” shall have the meaning set forth in the Recitals to this Agreement. “County Bonds” shall have the meaning set forth in the Development Agreement. “Deficiency” shall have the meaning set forth in Section 3.4(f) of this Agreement.
Cost Overruns means any amounts by which actual Total Project Costs exceed the amount of Total Project Costs that were included in the Project Budget.
Cost Overruns means the amount, if any, by which the aggregate amount of Actual Development and Construction Costs (defined below) for the Project exceeds the aggregate amount of Budgeted Development and Construction Costs (defined below) for the Project.
Cost Overruns means any shortfalls in the funding for all of the Xxxxx Xxxxxxxx Replacement Projects based on the budget for such Xxxxx Xxxxxxxx Replacement Project as of the date of the applicable construction loan closing as compared to the “Total Development Cost” applicable to such Xxxxx Xxxxxxxx Replacement Project as set forth in Exhibit F-C. Cost Overruns shall be apportioned between the Agency and Developer according to the ratio of the number of Agency Affordable Units to Xxxxx Xxxxxxxx Replacement Units in the applicable Xxxxx Xxxxxxxx Replacement Project. For example, if an Xxxxx Xxxxxxxx Replacement Project has eighty (80) Units, including twenty (20) Agency Affordable Units and sixty (60) Xxxxx Xxxxxxxx Replacement Units, then the Agency shall be responsible for twenty five percent (25%) (20/80 = 25%) of the Cost Overruns and Developer shall be responsible for seventy-five percent (75%) (60/80 = 75%) of the Cost Overruns for such Xxxxx Xxxxxxxx Replacement Project.
Cost Overruns means the amount of any and all construction costs for CityCenter that exceed $8,485,638,000 in the aggregate.
Cost Overruns is defined in Section 5.4(c). “Xxxxx-Xxxxxxx Act” is defined in Section 7.2. “CP/HPS Subdivision Code” is defined in the DDA. “CP State Recreation Area” is defined in the DDA.