Direct Cost of the Work definition

Direct Cost of the Work means labor, material and other costs reasonably and necessarily incurred in the proper performance of the Work as approved by the Department and shall include, but not be limited to:
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Direct Cost of the Work means the total cost of the construction work of the Project as may be revised throughout the Post-GMP Phase.
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Direct Cost of the Work means those items included in any Construction CAP which, pursuant to the Construction General Conditions, are directly related to construction and not otherwise defined under such Construction Phase.
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Examples of Direct Cost of the Work in a sentence

  • No personnel above the level of a working xxxxxxx shall be considered a Direct Cost of the Work.

  • Incorporated and unincorporated materials as permitted under Section 8.1. Direct Cost of the Work does not, however, include home office overhead, field supervision, general conditions or profit of either the Subcontractor or the Design-Builder.

  • Direct Cost of the Work - Costs necessarily incurred by the Licensee to perform the construction Work shown on the Construction Documents, usually performed by the trade contractors.

  • The CMR’s Direct Cost of the Work is defined as the sum of all Subcontractor costs, Allowances, fees and charges, including Subcontractor insurance (other than OCIP Insurance) and Subcontractor bond costs incurred during the Construction Phase.

  • The CMR’s Fee shall be a percentage of the Direct Cost of the Work that will include all of CMR’s anticipated profit and all of CMR’s home, office and other overhead.

  • Amount(s) indicated in the Agreement as part of the Direct Cost of the Work for specific scopes of work for which the CMR may xxxx its time and materials.

  • The GMP, or the actual Direct Cost of the Work, whichever is less, shall be reduced by the cost to the Owner of making good such deficiencies and the Construction Manager's Construction Phase Fee shall be reduced by an amount required to manage the making good of such deficiencies.

  • To the extent the Direct Cost of the Work is paid with funds of the Construction Manager, all cash discounts shall accrue to the Construction Manager.

  • If not accepted by the Owner as General Conditions, the cost becomes part of the Contractor Home Office and other Overhead & Profit *** If used in self-performed work, may be eligible for Direct Cost of the Work with advance notice and approval by the Owner This Agreement is based closely upon the American Institute of Architects 1997 Edition of AIA Document A121, “Standard Form of Agreement Between Owner and Construction Manager, where the Construction Manager is also the Constructor”.

  • In addition to its other duties related to budgeting and estimating, the Construction Manager must perform the following tasks related to the Direct Cost of the Work.


More Definitions of Direct Cost of the Work

Direct Cost of the Work means those items included in any Construction GMP which, pursuant to the Construction General Conditions, are directly related to construction and not otherwise defined under such Construction Phase.
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Direct Cost of the Work. Determined by bids obtained from subcontractors in accordance with Section 5 below. • Contingency: 5% of the Cost of the Work.
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Related to Direct Cost of the Work

  • Direct Costs means the sum of the following:

  • Project Cost means the price payable to Service Provider over the entire period of Agreement (i.e. Rs. <in words>) for the full and proper performance of its contractual obligations.

  • 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.

  • Development Cost means the total of all costs incurred in the completion of a Development excluding Developer Fee, operating deficit reserves, and total land cost as typically shown in the Development Cost line item on the development cost pro forma.

  • Routine Patient Costs means all health care services that are otherwise covered under the Group Contract for the treatment of cancer or other Life-threatening Condition that is typically covered for a patient who is not enrolled in an Approved Clinical Trial.

  • Construction activity means any clearing, grading or excavation associated with large construction activity or associated with small construction activity.

  • Qualified Project Costs means Project Costs that meet each of the following requirements: (i) the costs are properly chargeable to capital account (or would be so chargeable with a proper election by the Borrower or but for a proper election by the Borrower to deduct such costs) in accordance with general Federal income tax principles and in accordance with United States Treasury Regulations §1.103-8(a)(1), provided, however, that only such portion of interest accrued during rehabilitation of the Projects shall be eligible to be a Qualified Project Cost as is so capitalizable and as bears the same ratio to all such interest as the Qualified Project Costs bear to all Project Costs; and provided further that interest accruing after the date of completion of the rehabilitation of the Projects shall not be a Qualified Project Cost; and provided still further that if any portion of any of the Projects is being rehabilitated by an Affiliated Party (whether as a general contractor or a subcontractor), Qualified Project Costs shall include only (A) the actual out-of-pocket costs incurred by such Affiliated Party in rehabilitating the Projects (or any portion thereof), (B) any reasonable fees for supervisory services actually rendered by the Affiliated Party, and (C) any overhead expenses incurred by the Affiliated Party which are directly attributable to the work performed on the Projects, and shall not include, for example, intercompany profits resulting from members of an affiliated group (within the meaning of Section 1504 of the Code) participating in the rehabilitation of the Projects or payments received by such Affiliated Party due to early completion of the rehabilitation of the Projects; (ii) the costs are paid with respect to a qualified residential rental project or projects within the meaning of Section 142(d) of the Code, (iii) the costs are paid after the earlier of 60 days prior to the Inducement Date or the Closing Date, and (iv) if the Project Costs were previously paid and are to be reimbursed with proceeds of the Loan or the Bonds, such costs were (A) costs of issuance of the Issuer Note, (B) preliminary capital expenditures (within the meaning of United States Treasury Regulations §1.139-2(f)(2)) with respect to the Projects (such as architectural, engineering and soil testing services) incurred before commencement of the rehabilitation of the Projects that do not exceed twenty percent (20%) of the issue price of the Bonds (as defined in United States Treasury Regulations §1.148-1), or (C) were capital expenditures with respect to the Projects that are reimbursed no later than eighteen

  • Development Costs means costs incurred to obtain access to reserves and to provide facilities for extracting, treating, gathering and storing the oil and gas from reserves. More specifically, development costs, including applicable operating costs of support equipment and facilities and other costs of development activities, are costs incurred to:

  • Indirect Costs has the same meaning as in 44 Ill. Admin. Code 7000.30.

  • Total Contract Price/Project Cost/TCO means the price payable to Service Provider over the entire period of Contract for the full and proper performance of its contractual obligations.

  • The Contract Price/ Project Cost means the price payable to the Vendor under the Contract for the full and proper performance of its contractual obligations.

  • Total Project Cost means all the funds to complete the effort proposed by the Applicant, including DOE funds (including direct funding of any FFRDC) plus all other funds that will be committed by the Applicant as Cost Sharing.