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.
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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
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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.

Related to Project 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 area budget means a multiyear projection of annual or cumulative

  • Project Budget means the budget and project description included in the grant application. The Project Budget must succinctly describe all major elements of project work, the estimated cost of each and clearly allocate requested grant funding and match contributions to each.

  • Construction Budget means the fully-budgeted costs for the acquisition and construction of a given parcel of real property (including, without limitation, the cost of acquiring such parcel of real property, reserves for construction interest and operating deficits, tenant improvements, leasing commissions, and infrastructure costs) as reasonably determined by the Parent in good faith.