Project Overruns definition
Project Overruns means the final cost estimate at Contract Award exceeds the estimated Total Project Cost estimate in this Agreement, or the final actual project costs exceed the final cost estimate at Contract Award.
Project Overruns means the final cost estimate at contract award exceeds the estimated Total Project Cost estimate in this Agreement, or the final actual project costs exceed the final cost estimate at contract award. Key No. 18737
Examples of Project Overruns in a sentence
The total Project Costs incurred by Buyer for the Projects in excess of the aggregate Project ETC's with labor charges discounted by 20% (the "Project Overruns") shall be reimbursed by Seller to Buyer.
Seller and GSE Systems shall pay such invoiced Project Overruns to Buyer within 30 days of receipt of each invoice.
Buyer shall provide with each invoice, a calculation of the Project Overruns.
Buyer will invoice Seller and GSE Systems for the amount of any unbilled Project Overruns quarterly commencing on the 15th day of the fourth full calendar month after the Effective Date and continuing on the 15th day of the first month of each quarter thereafter.