Project Cost Savings definition

Project Cost Savings the amount, if any, by which (a) the sum of (i) the Initial Budgeted Amount and (ii) the Increased IDC Contribution Amount, if any, contributed to the Borrower pursuant to the Southern Equity Contribution Agreement on or prior to such date, exceeds (b) the aggregate amount of all Project Costs which have been or are required to be incurred in order to achieve the occurrence of the Completion Date and Final Completion of the Facility and of the Greenhouse, including, in any event, (x) the Required Completion Date Reserve Deposits specified in clauses (ii) through (v) of the definition thereof and (y) the Required Debt Service Reserve Amount as of the Completion Date.
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Project Cost Savings means the difference between the actual costs to complete the Project and the estimated total Project cost listed in Section 6.5 of Attachment 2 of this Agreement, if after the Recipient completes the tasks identified in Article 4 of Attachment 2 of this Agreement to FRA’s satisfaction, the actual Project costs are less than the estimated total Project costs.
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Project Cost Savings means that portion of the GMP, including the Construction Manager’s Contingency but excluding the unused Owner’s Contingency, which exceeds the total actual Cost of a Project, as defined under Article 8.
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Examples of Project Cost Savings in a sentence

  • The Parties will share pro-rata in any Project Cost Savings based upon each Party’s financial contribution to the Project Capital Costs.

  • This potential cost savings is recognized as the amount by which a project GMP, less the unused Owner’s Contingency, exceeds the Cost of the Project under Articles 8 and 9, plus the Construction Manager’s fees under Sections 7.1.2 and 7.1.3. Construction Manager will receive fifty percent (50%) of the Project Cost Savings, as defined by Subsection 1.6.35, which shall be included in the Final Payment.


More Definitions of Project Cost Savings

Project Cost Savings means actual realized savings to the Company, being the amount by which the sum of all costs paid for a Project Cost line item in the Development Budget that could give rise to a Project Cost Overrun on which all work has been completed and for which all costs have been paid is less than the amount allocated for such line item, after taking into account any savings shared with the Construction Manager under the Construction Contract.
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Project Cost Savings. The amount by which the budget line for any category of Project Costs, as set forth from time to time in the Project Budget and Financing Plan, shall exceed the actual Project Costs with respect to such budget line.
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Project Cost Savings means the positive difference, if any, between $6,782,476 and final Project Costs.
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Project Cost Savings means the difference between the actual eligible project costs and the total eligible project costs that are listed in section 3 of schedule D, but only if the actual eligible project costs are less than the total eligible project costs that are listed in section 3 of schedule D. There are no Project Cost Savings if the actual eligible project costs are equal to or greater than the total eligible project costs that are listed in section 3 of schedule D.
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Related to Project Cost Savings

  • 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.

  • Pro Forma Cost Savings means, with respect to any four-quarter period, the reduction in net costs and expenses that:

  • Eligible Project Costs means such portion of the Project costs disbursed and loaned from the OPWC to the Recipient for the sole and express purpose of acquiring, constructing, reconstructing, expanding, improving, engineering and equipping the Project, other direct expenses, and related financing costs thereto.

  • Direct Cost means a cost not to exceed the cost of labor, material, travel and other expenditures to the extent the costs are directly incurred to provide the relevant assistance or service. “Direct Cost” to the Acquirer for its use of any of a Respondent’s employees’ labor shall not exceed the average hourly wage rate for such employee;

  • 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.

  • 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: