Required Contingency definition

Required Contingency means, at any time, with respect to a Project, a minimum amount required to be maintained with respect to the “Project Contingency” Line Item in the Project Budget for such Project, which shall be the original amount of such Line Item less (a) 20% of the original amount of such Line Item, and less (b) an additional percentage of such original amount of the Project Contingency Line Item corresponding to the percentage of the applicable Project that has been completed prior to such time.
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Required Contingency has the meaning assigned to such term in the Disbursement Agreement.
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Required Contingency means a minimum amount required to be maintained with respect to the “Project Contingency” Line Item in the Project Budget, which shall be an amount determined according to the following formulas:
Sample 1

Examples of Required Contingency in a sentence

  • Notwithstanding anything herein to the contrary, the “Project Contingency” Line Item may not be reduced below the Required Contingency.

  • Section 6.24(c) of the Caesars Disclosure Schedule sets forth, as of the date hereof, all remaining costs and expenses associated with the construction, development and opening of the Xxxxxxxx, including the House Funds required by Section 8.10(d), any Required Contingency and any funds required to fund pre-opening services, including purchasing initial furnishings, fixtures and equipment and supplies (collectively, the “Remaining Xxxxxxxx Costs”).

  • Notwithstanding anything herein to the contrary, (a) the “Project Contingency” Line Item may not be reduced below the Required Contingency without the approval of the Administrative Agent and the Construction Consultant, and (b) the assumptions used in the calculation of the “Interest” Line Item may not be modified in a manner that results in a reduction in the interest rate reflected in such Line Item without the reasonable consent of the Administrative Agent.

  • The remaining availability under the Term Loan Commitment, plus the other undrawn committed financing of Borrower from the sources listed on Schedule Q hereto shall be greater than the Remaining Project Costs plus the Required Contingency.

  • Notwithstanding anything herein to the contrary, the “Project Contingency” Line Item may not be reduced below the Required Contingency, and the “Working Capital Contingency” Line Item may not be reduced below the Required Working Capital Contigency.

  • Required Contingency Reserve (CR) which is the synchronized generation capacity from Qualified Generating Units, equivalent to the largest synchronized generating unit, allocated to cover the loss or failure of a synchronized generating unit or a transmission line or the power import from a single circuit interconnection, whichever is larger (647 MW for Luzon, 150 MW for Visayas, and 150 MW for Mindanao); and c.

  • After the Initial Contribution (and thereafter only assuming there is a positive balance in the Running Balance Calculation as set forth below), any amount by which the Remaining Project P Contingency Amount or Remaining Project S Contingency Amount, as applicable, exceeds the amount of contingency required as calculated using the applicable Required Contingency Percentage, once reviewed and approved by the DOE, is a “Permitted Correction”.


More Definitions of Required Contingency

Required Contingency means, at any time, with respect to the Project, a minimum amount required to be maintained with respect to an “Owner’s Hard Cost Contingency” Line Item of at least […***…] of all then remaining Hard Costs, as well as a “Contingency” Line Item of at least […***…] for all then remaining Soft Costs. 10 “Required Disbursement Account Deposit” has the meaning given in Section 2.2.3. “Required Equity Amount” has the meaning given in Section 6.5. “Required Initial Equity Amount” has the meaning given in Section 6.5. “Required Retainage Amounts” means, for Construction Contracts that (individually, or taken together with other Construction Contracts) account for at least […***…] of Hard Costs as set forth in the Project Budget (excluding Construction Contracts that are subcontracts with a Contractor), (a) the greater of (i) ten percent (10%) of the applicable contract price with the ability to reduce to five percent (5%) of the applicable contract price from and after the date that the work contemplated by the applicable Construction Contract is greater than fifty percent (50%) Complete, and (ii) the actual retainage required under such Construction Contract; provided that, if Borrower requests the Administrative Agent’s consent to a Construction Contract with retainage that is less than the above-referenced amounts, and the Administrative Agent approves such Construction Contract, then the retainage amount in such approved Construction Contract shall be the “Retainage” amount hereunder with respect to such Construction Contract. “Reserved Amount” has the meaning given in the definition of “Substantial Completion”. “Reserved Disputed Amounts” means the portion of Disputed Amounts reasonably estimated by the Borrower in good faith (in consultation with the Construction Consultant) as its liability with respect thereto. “Retainage Amounts” means, at any given time, amounts, if any, that have accrued and are owing under the terms of a Construction Contract for work, materials or services already provided but which at such time (in accordance with the terms of the Construction Contract) are being withheld from payment to the Contractor thereunder until certain subsequent events (e.g., completion benchmarks) have been achieved. “Shortfall” means, at any time of determination, the amount by which the sum of the total Remaining Costs plus the Required Contingency exceeds Available Construction Funds. “Soft Costs” means all Project Costs other than Hard Costs. “Substanti...
Sample 1
Required Contingency means a minimum amount required to be funded by the Borrower and maintained with respect to the “Project Contingency” Line Item in the Project Budget, which shall be, on the Closing Date, an amount equal to $7,070,000, and which shall be recalculated, from time to time, in accordance with the methodology set forth on Schedule 2 to Exhibit B.
Sample 1

Related to Required Contingency

  • Total Required Payment means, for a Payment Date, the sum of

  • Required Payment shall have the meaning assigned such term in Section 4.04.

  • Required Consent has the meaning set forth in Section 4.4.

  • Required Surety Payment With respect to any Additional Collateral Loan that becomes a Liquidated Mortgage Loan, the lesser of (i) the principal portion of the Realized Loss with respect to such Mortgage Loan and (ii) the excess, if any, of (a) the amount of Additional Collateral required at origination with respect to such Mortgage Loan over (b) the net proceeds realized by the Subservicer from the related Additional Collateral.

  • Required Party has the meaning set forth in Section 4.03 of this Agreement.

  • Required Payments means each of the items described in (i) through (xii) of Section 3.4 of the Indenture.

  • Identified Contingent Liabilities means the maximum estimated amount of liabilities reasonably likely to result from pending litigation, asserted claims and assessments, guaranties, uninsured risks and other contingent liabilities of the Borrower and its Subsidiaries taken as a whole after giving effect to the Transactions (including all fees and expenses related thereto but exclusive of such contingent liabilities to the extent reflected in Stated Liabilities), as identified and explained in terms of their nature and estimated magnitude by responsible officers of the Borrower.

  • Required Payment Amount shall have, for any Distribution Date, the meaning specified for such Distribution Date in Section 4.6(a) of the Sale and Servicing Agreement.

  • Independent expenditure means an expenditure by a person:

  • Required Consenting Noteholders means, as of the relevant date, the Consenting Noteholders then holding greater than fifty and one-tenth percent (50.1%) of the aggregate outstanding principal amount of Senior Notes Claims that are held by all Consenting Noteholders subject to the Restructuring Supporting Agreement as of such date.

  • Insured contract means any written: a. leases of premises; b. easement agreements, except those concerning construction or demolition operations abutting railroad property; c. obligation to insure a municipality as required by law or ordinance, except in connection with work for the municipality; d. sidetrack agreements; or e. elevator maintenance agreements.

  • Estimated Closing Indebtedness has the meaning set forth in Section 2.4(a).

  • Required Coupon With respect to the Mortgage Loans in Loan Group 1 and Loan Group 2, 6.00% per annum.

  • Required Consents shall have the meaning set forth in Section 4.5.

  • Required Permit means a Permit (a) issued or required under Laws applicable to the business of Borrower or any of its Subsidiaries or necessary in the manufacturing, importing, exporting, possession, ownership, warehousing, marketing, promoting, sale, labeling, furnishing, distribution or delivery of goods or services under Laws applicable to the business of Borrower or any of its Subsidiaries or any Drug Application (including without limitation, at any point in time, all licenses, approvals and permits issued by the FDA or any other applicable Governmental Authority necessary for the testing, manufacture, marketing or sale of any Product by any applicable Borrower(s) as such activities are being conducted by such Borrower with respect to such Product at such time), and (b) issued by any Person from which Borrower or any of their Subsidiaries have received an accreditation.

  • Required Transaction means any transaction involving a Swap that is subject to the trade execution requirement of Section 2(h)(8) of the Act.

  • Excluded Expenditure means any expenditure: (a) for goods or services supplied under a contract which any national or international financing institution or agency other than the Association or the Bank has financed or agreed to finance, or which the Association or the Bank has financed or agreed to finance under another credit, grant or loan; (b) for goods included in the following groups or sub-groups of the Standard International Trade Classification, Revision 3 (SITC, Rev.3), published by the United Nations in Statistical Papers, Series M, No. 34/Rev.3 (1986) (the SITC), or any successor groups or subgroups under future revisions to the SITC, as designated by the Association by notice to the Recipient: Group Sub-group Description of Item 112 Alcoholic beverages 121 Tobacco, un-manufactured, tobacco refuse 122 Tobacco, manufactured (whether or not containing tobacco substitutes) 525 Radioactive and associated materials 667 Pearls, precious and semiprecious stones, unworked or worked 718 718.7 Nuclear reactors, and parts thereof; fuel elements (cartridges), non-irradiated, for nuclear reactors 728 728.43 Tobacco processing machinery 897 897.3 Jewelry of gold, silver or platinum group metals (except watches and watch cases) and goldsmiths’ or silversmiths’ wares (including set gems) 971 Gold, non-monetary (excluding gold ores and concentrates) (c) for goods intended for a military or paramilitary purpose or for luxury consumption; (d) for environmentally hazardous goods, the manufacture, use or import of which is prohibited under the laws of the Recipient or international agreements to which the Recipient is a party; (e) on account of any payment prohibited by a decision of the United Nations Security Council taken under Chapter VII of the Charter of the United Nations; and (f) with respect to which the Association determines that corrupt, fraudulent, collusive or coercive practices were engaged in by representatives of the Recipient or other recipient of the Financing proceeds, without the Recipient (or other such recipient) having taken timely and appropriate action satisfactory to the Association to address such practices when they occur.

  • Collateral Requirement means the requirement that:

  • Advance Deficiency As defined in Section 4.01(b).

  • Required Collateral Fund Balance As of any date of determination, an amount equal to the aggregate of all amounts previously required to be deposited in the Collateral Fund pursuant to Section 2.02(d) (after adjustment for all withdrawals and deposits pursuant to Section 2.02(e)) and Section 2.03(b) (after adjustment for all withdrawals and deposits pursuant to Section 2.03(c)) and Section 3.02 to be reduced by all withdrawals therefrom pursuant to Section 2.02(g) and Section 2.03(d).

  • Permitted Contingent Obligations means, without duplication: (a) Contingent Obligations arising in respect of the Debt under the Note Documents; (b) Contingent Obligations resulting from endorsements for collection or deposit in the Ordinary Course of Business; (c) Contingent Obligations outstanding on the date of this Agreement and set forth on Schedule 8.1 (including any refinancings, extensions, increases or amendments to the indebtedness underlying such Contingent Obligations to the extent constituting (i) Refinancing Debt or (ii) extensions of the maturity thereof without any other change in terms); (d) Contingent Obligations incurred in the Ordinary Course of Business with respect to surety and appeal bonds, performance bonds and other similar obligations not to exceed $250,000 in the aggregate at any time outstanding; (f) Contingent Obligations arising under indemnity agreements with title insurers to cause such title insurers to issue to the Purchaser mortgagee title insurance policies; (g) Contingent Obligations arising with respect to customary indemnification obligations in favor of purchasers in connection with dispositions of personal property assets permitted under Section 8.6; (h) [Reserved]; (i) so long as there exists no Event of Default both immediately before and immediately after giving effect to any such transaction, Contingent Obligations existing or arising under any Swap Contract, provided, however, that such obligations are (or were) entered into by an Obligor or an Affiliate in the Ordinary Course of Business for the purpose of directly mitigating risks associated with liabilities, commitments, investments, assets, or property held or reasonably anticipated by such Person and not for purposes of speculation; and (j) other Contingent Obligations not permitted by clauses (a) through (i) above, not to exceed $250,000 in the aggregate at any time outstanding.

  • Acceptable Insurance Default shall have the meaning assigned to such term or analogous term in the Servicing Agreement.

  • Closing Date Indebtedness means the aggregate amount of Indebtedness of the Company as of immediately prior to the Closing.

  • Requisite Reserve Amount As of any date with respect to any Series (or Class within such Series), the amount, if any, required to be maintained in the Reserve Account, if any, for such Series or Class as specified in or determined pursuant to the related Supplement.

  • Final Closing Indebtedness means the aggregate amount of Closing Indebtedness set forth in the Final Closing Statement.

  • Required Cash Collateral Amount shall have the meaning provided in Section 3.7(c).