Realized Savings means, as of any date, with respect to any Line Item in a Project Budget, the excess of (i) the Remaining Budgeted Amount for such Line Item over (ii) the Remaining Costs with respect to such Line Item; provided, however, that Realized Savings for any Line Item shall be deemed to be zero unless and until the Borrower has delivered an executed Project Budget Amendment Certificate (together with all exhibits thereto) which includes such Realized Savings and such certificate is reasonably satisfactory to the Construction Consultant and Disbursement Agent (except that any savings achieved by De Minimus Adjustments shall be included so long as Borrower has given the Construction Consultant written notice thereof) ; provided, further, that no Realized Savings shall be obtainable with respect to the “Project Contingency” Line Item in a Project Budget; provided, still further, that the Realized Savings for any Line Item pertaining to amounts payable pursuant to a guaranteed maximum price contract shall be deemed to be zero, except to the extent such contract has been amended to reduce the guaranteed maximum price thereunder.
Realized Savings means the excess of the amount budgeted in the Construction Disbursement Budget for a line item over the amount of funds expended or owed by the Company to complete the tasks set forth in such line item and for the materials and services used to complete such tasks, so long as the terms for such tasks are final and unconditional (other than the satisfactory completion of such tasks), including without limitation the execution of fixed price purchase orders to acquire the materials that are the subject of such line item (as applicable); provided, however, that Realized Savings for any line item shall be deemed to be zero (i) if such savings are obtained in a manner that materially detracts from the overall value, quality and amenities of the Facility and (ii) unless and until the Issuers have delivered a fully executed Construction Disbursement Budget Amendment Certificate (together with all exhibits thereto) which includes such Realized Savings.
Realized Savings means the excess of the amount budgeted in the Construction Disbursement Budget for a line item over the amount of funds expended or owed by HCS to complete the tasks set forth in such line item and for the materials and services used to complete such tasks, but (i) Realized Savings for any line item shall be deemed to be zero if such savings are obtained in a manner that materially detracts from the overall quality and amenities of the Project, and (ii) Realized Savings for each line item shall in all cases be deemed to be zero until HCS has (x) satisfied or provided for in all material respects the obligations arising out of the completion of that line item or (y) obtained contracts for the completion of all tasks set forth in such line item and for all materials and services required for such tasks for a fixed or guaranteed maximum price.
Examples of Realized Savings in a sentence
Background Amtrak began operation of the Seattle – Vancouver service as one of the first additions to its original national system network on July 17, 1972.
Any amounts of Realized Savings, contingency amounts or previously allocated reserves so identified for use in connection with a particular Line Item thenceforth shall be deemed dedicated to the particular Line Item, unless and until the Project Budget is amended to reduce the amounts budgeted for the Line Item of the Project Budget.
Construction line items may be reduced only upon obtaining, and in the amount of, Realized Savings.
Any such amendment shall identify with reasonable particularity (a) the Line Item to be increased or decreased (if any), (b) the amount of the increase or decrease (if any), (c) in the event of an increase in a construction Line Item, the source proposed to be utilized to pay for the increase in accordance with Section 6.1.1, and (d) in the case of a decrease in a construction Line Item, the Realized Savings in the amount of such decrease, or (e) the additional line item category.
The Vendor shall annually refund the Department any amount of compensation that exceeds the Realized Savings.
More Definitions of Realized Savings
Realized Savings means the excess of the amount budgeted in the Construction Disbursement Budget for a line item over the amount of funds expended or owed by the Company to complete the tasks set forth in such line item and for the materials and services used to complete such tasks; provided, however, that: (a) Realized Savings for any line item shall be deemed to be zero if such savings are obtained in a manner that materially detracts from the overall quality and amenities of the Bossier City Project and (b) Realized Savings for each line item shall in all cases be deemed to be zero until (i) the Company has completed all work and improvements covered by the line item, or (ii) the Company has satisfied or provided in all material respects for the obligations arising out of the completion of that line item.
Realized Savings means, in respect of each line item of the Budget, a decrease in the anticipated cost to complete the work or acquire the goods and services contemplated by such line item which (i) results from a decrease in the anticipated cost to complete the work which Borrower is able to demonstrate to the reasonable satisfaction of the Administrative Agent and the Construction Consultant, or (ii) results from a Scope Change which complies with the requirements of this Agreement and results, to the reasonable satisfaction of the Administrative Agent and the Construction Consultant, in a quantifiable decrease in materials, supplies, or required services, in each case, which is documented by Borrower to the reasonable satisfaction of the Administrative Agent and the Construction Consultant.
Realized Savings means the excess of the amount budgeted in the Construction Disbursement Budget for a line item over the amount of funds expended or owed by the Company to complete the tasks set forth in such line item and for the materials and services used to complete such tasks, so long as the terms for such tasks are final and unconditional (other than the satisfactory completion of such tasks); provided, however, that -------- ------- Realized Savings for any line item shall be deemed to be (i) zero if such savings are obtained in a manner that materially detracts from the overall value, quality and amenities of the Isle-Black Hawk, and (ii) reduced to the extent previously reallocated in the Construction Disbursement Budget.
Realized Savings. The amount equal to the Actual Expense less Baseline Expense.
Realized Savings. The amount equal to the Actual Expense less Baseline Expense. 1.12 Shared Savings Pool: Realized savings minus the Savings Guarantee. 1.13 2001 Analysis: The modeling analysis that Logistics Group will perform subject to Customer providing the required data including but not limited to cube information. (As of the Effective Date of this Agreement, Logistics Group was not in receipt of all data necessary to complete the 2001 Analysis. Upon completion of the 2001 Analysis, Logistics Group will provide a written copy of same to Customer, and the parties will amend this Agreement accordingly.)
Realized Savings means, with respect to each Line Item Category, a decrease in the anticipated cost to complete the work contemplated by such Line Item Category as demonstrated by the Company to the reasonable satisfaction of the Disbursement Agent and the Construction Consultant, and reflected through an amendment of the applicable Project Budget pursuant to Section 6.3 of the Disbursement Agreement. In addition, prior to the Phase I Completion Date, no Realized Savings obtained with respect to Line Item Categories allocated to the Phase I Project in the Phase I Project Budget may be applied to Line Item Categories allocated to the Phase II Project in the Phase II Project Budget. At no time may Realized Savings obtained with respect to Line Item Categories allocated to the Phase II Project in the Phase II Project Budget be applied to Line Item Categories allocated to the Phase I Project in the Phase I Project Budget.
Realized Savings has the meaning set forth in subsection 7.20.