Uncovered Cost of the Work definition

Uncovered Cost of the Work means the amount equal to the excess (if any) of (a) the remaining unpaid costs of Completion of the Work over (b) the committed and undisbursed portion of the Construction Loan and any Required Completion Assurance Deposits held by Lender.
Uncovered Cost of the Work means the amount equal to the excess (if any) of (a) the remaining unpaid costs of Completion of the Work over (b) the committed and undisbursed portion of the Loan and any Required Completion Assurance Deposits held by Lender.
Uncovered Cost of the Work or "Uncovered Cost": with respect to the Work being financed in whole or in part under a Development Loan and covered by a line-item within the related Construction Budget, the amount equal to the excess (if any) of (a) the remaining unpaid cost of Completion of the Work covered by such line-item over (b) the undisbursed portion of the Development Loan committed for such Work and the remaining balance of any Required Completion Assurance Deposits held by Lender for such Work.

Examples of Uncovered Cost of the Work in a sentence

  • The sum of the Uncovered Cost of the Work for all Applicable Underlying Loans.

  • Lender shall have no obligation to make any Advance if after giving effect to the Advance the sum of (i) the unpaid principal balances of the Development Loan and the Receivables Loan, (ii) the committed and undisbursed portion of the Development Loan, and (iii) the Uncovered Cost of the Work exceeds Forty Million Dollars ($40,000,000).

  • If the Loan has a Construction Component or a Renovation Component, Lender shall have no obligation to make any Advance if, after giving effect to such Advance, the sum of (i) the aggregate amount of all Advances, (ii) the committed and undisbursed portion of the Loan, and (iii) the Uncovered Cost of the Work exceeds the Maximum Loan Amount.

  • Lender shall have no obligation to make a Work-Related Advance (including, without limitation, the initial Work-Related Advance) if the undisbursed portion of the Construction Loan (or, in reference to the initial Work-Related Advance, the full Construction Loan amount) is less than the remaining costs of Completion until Borrower has deposited with the Lender an amount equal to the estimated Uncovered Cost of the Work (the "Required Completion Deposit Assurances").


More Definitions of Uncovered Cost of the Work

Uncovered Cost of the Work at any time, the sum of the Uncovered Cost of the Construction Work Phases and the Uncovered Cost of the Renovation Work Phases.

Related to Uncovered Cost of the Work

  • Cost of the Work means costs necessarily incurred by the Construction Manager in the proper performance of the Work. Such costs shall be at rates not higher than those customarily paid at the place of the Project except with prior consent of the Owner. The Cost of the Work shall include only the items set forth in this Article 6.

  • Approved costs means the eligible costs or expenditures2 as approved by the Provider, and as defined in the Agreement or Decision on Grant Funding to carry out the Grant Project.

  • Cost of the Project means and embraces the cost of construction; the cost of all

  • Recovered Costs means any amounts referred to in clauses (d) and/or (e) of the definition of “Defaulted Mortgage Loan Purchase Price” that, at the time of determination, had been previously paid or reimbursed to any Servicer from sources other than collections on or in respect of the Mortgage Loan or the Mortgaged Property (including, without limitation, from collections on or in respect of loans other than the Mortgage Loan).

  • Fixed Costs means costs which do not vary with consumption or volume produced;

  • Cost of materials means the cost of components, parts or materials which are intended for the production, manufacturing or assembling of the goods bid for and which are not produced, manufactured or assembled in the factory where the production, manufacture or assembly of such goods occurs, including freight, landing costs, port charges, import duties and other import costs of such components, parts or materials and all costs in connection with the handling and transport thereof prior to delivery at that factory;

  • Generator Forced Outage means an immediate reduction in output or capacity or removal from service, in whole or in part, of a generating unit by reason of an Emergency or threatened Emergency, unanticipated failure, or other cause beyond the control of the owner or operator of the facility, as specified in the relevant portions of the PJM Manuals. A reduction in output or removal from service of a generating unit in response to changes in market conditions shall not constitute a Generator Forced Outage.

  • Related Costs means lodging and, if necessary, physical protection for the Covered Person during or while waiting for Transport to the Nearest Place of Safety. Related Costs will include temporary lodging, if necessary, while a Covered Person is waiting to be transported back to the Host Country, Home Country or other country where the Policyholder that sponsored the Covered Person’s Trip is located. Benefits will not be payable for Related Costs unless We (or Our authorized assistance provider) authorize in writing, or by an authorized electronic or telephonic means, all expenses in advance, and services are rendered by Our assistance provider.

  • Start-Up Costs means all fees, costs, and expenses incurred in connection with establishing the State Mitigation Trust and the Indian Tribe Mitigation Trust and setting them up for operation. Start-up costs shall not include the cost of premiums for insurance policies.

  • Cleanup costs means expenses (including but not limited to legal and professional fees) incurred in testing for, monitoring, cleaning up, removing, containing, treating, neutralizing, detoxifying or assessing the effects of Pollutants.

  • Project Cost means the price payable to Service Provider over the entire period of Agreement (i.e. Rs. <in words>) for the full and proper performance of its contractual obligations.

  • Routine patient care costs means Covered Medical Expenses which are typically provided absent a clinical trial and not otherwise excluded under the Policy. Routine patient care costs do not include:

  • Manufacturing Cost means [***].

  • Fully Loaded Cost means the direct cost of good or service plus all applicable indirect charges and overheads.

  • 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;

  • Cost of work , in table above, shall mean the agreement amount of the work.

  • Unscheduled Outage means an outage that is not a result of a Scheduled Outage;

  • Standard Cost means any cost computed with the use of preestablished measures.

  • Excluded Downtime has the meaning set forth in Section 2 below.

  • 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.

  • Planned Outage means the removal of equipment from service availability for inspection and/or general overhaul of one or more major equipment groups. To qualify as a Planned Outage, the maintenance (a) must actually be conducted during the Planned Outage, and in Seller’s sole discretion must be of the type that is necessary to reliably maintain the Project, (b) cannot be reasonably conducted during Project operations, and (c) causes the generation level of the Project to be reduced by at least ten percent (10%) of the Contract Capacity.

  • Cost of Services is FASC’s total Operating Costs incurred in providing the applicable Category of Services during the month to all investment advisers for which FASC provides that Category of Services. “Adviser’s Assets under Management” is the total average assets under management for the month for all Accounts or portions thereof for which the Adviser acts as investment adviser or subadvisor and which utilize the Category of Services.