Project Cost Overruns definition

Project Cost Overruns as defined in Section 6.04. “Project Costs” as defined in Section 6.01.
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Project Cost Overruns means all Costs actually incurred by BH, its Affiliates or its or their respective Subcontractors (or any of their respective employees or agents) in the performance of their obligations under a Statement of Work through the date of completion of all such obligations that are in excess of the Total Project Budget.
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Project Cost Overruns means the amount, if any, by which the actual Redevelopment Project Costs exceed the projected amount thereof as set forth on the Budget.
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Examples of Project Cost Overruns in a sentence

  • The purpose and intent of this ▇▇▇ are to allocate responsibility among the Parties for the Local Share of Project Cost Overruns and the Enhanced VMF Costs.

  • The County shall be responsible for twenty-five percent (25%) of any Local Share of Project Cost Overruns and for any portion of DDA’s share of Local Share of Project Cost Overruns in excess of Three Million Dollars ($3,000,000) in each of County fiscal years 2018, 2019 or 2020.

  • In the event that notice is given to the DDA to pay its share of Local Share of Project Cost Overruns and the Special Assessment balance at that time is not sufficient to pay all of its required share, the DDA may request reasonable extensions of time to seek SIB Loan Agreement amendments with FDOT.

  • The number of Shares to be issued to BH or a BH Designee for Project Cost Overruns pursuant to this Section 4.6 shall be calculated by dividing the amount equal to the relevant Project Cost Overruns amount by (i) prior to the BCA Closing and after the BCA Termination, the then current market price per Share as determined in accordance with Company’s annual Share valuation process set forth in the Operating Agreement, or (ii) after the BCA Closing, the Deemed Share Price.

  • The Project Cost Overrun Funding shall be in full force and effect, in the amounts set out in the definition of "Project Cost Overrun Funding" and remain available to fund: (i) Project Cost Overruns; (ii) the initial funding of the Debt Service Reserve Account in accordance with Section 10.3(m); (iii) the initial funding of the Operating Reserve Account in accordance with Section 10.3(n); and (iv) prior to the Tranche Two PCOF Funding Date, Permitted PCOF Usage.

  • The DDA shall pay twenty-five percent (25%) of any Local Share of Project Cost Overruns, up to an annual maximum of Three Million Dollars ($3,000,000) per County fiscal year in each of County fiscal years 2018, 2019 and 2020; and for all time periods thereafter, fifty percent (50%) of such Local Share of Project Cost Overruns with no annual maximum.

  • The County shall be responsible for no portion of the Local Share of Project Cost Overruns after County fiscal year 2020 (which ends September 30, 2020).

  • The City shall pay fifty percent (50%) of any Local Share of Project Cost Overruns.

  • The Development Manager shall provide to Dividend Member, on a monthly basis, a list of any Project Cost Savings reallocated to cover Project Cost Overruns.

  • In considering any such request, a Party will be entitled to base its decision, among other things, on such Party’s determination of the adequacy of the remaining portion of the Project Contingency Reserve (after taking into account such Approved Alternative or Change Order) relative to the uncompleted Work Action Items, and the likelihood of Project Cost Overruns with respect to such uncompleted Work Action Items.

Related to Project Cost Overruns

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

  • Project Costs means the costs of the construction, acquisition or equipping of the Project, as further described in the Project Budget, and such other costs as may be approved in writing by the Department, provided such costs are permitted by the Act.

  • 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.

  • 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

  • Original Project Cost means the capital expenditure incurred by the Generating Company or the Transmission Licensee, as the case may be, within the original scope of the project up to the cut-off date as admitted by the Commission;