Yearly contract cost definition

Yearly contract cost as used herein shall mean the fixed maintenance cost payable by the Authorized User for the contract year in which said damages are sustained, including any escalations from prior years, but shall not include extra charges properly billed by the Contractor under this Agreement. If such damages occur in a period that is partly in one contract year and partly in another, the damages assessable in each such year shall be separately computed using the appropriate yearly contract cost for such each portion. This liquidated damages clause shall be in addition to all other liquidated damages clauses in this Contract once the Lift Equipment experiences unscheduled down-time of more than six Facility working days per year per piece of Lift Equipment Unscheduled down-time means the length of time that the Lift Equipment is out-of-service for reasons other than the down-time previously scheduled by the Contractor and agreed to by the Authorized User (e.g. time for tests or inspections). The length of time that Lift Equipment is out-of-service shall be measured by the Authorized User; beginning at such time the Authorized User notifies the Contractor that the Lift Equipment is out-of-service or that an unsafe condition exists and ending at such time the Lift Equipment is safely placed back into service. Excess Lift Equipment Downtime Liquated Damages (EEDLD) Formula: EEDLD = (contract yearly amount) x # of Lift Equipment out of service x Number of days out of service in excess Total Number of Lift Equipment of six Facility working days under this Contract Annual Working Days Example: Facility Y has 16 elevators. During the month of January 2014, elevator number 8 was out of service the entire month. The contract yearly amount is $ 60,000. There were 22 Facility working days in January; therefore there were 16 days of excess elevator downtime in January. There were 260 Facility working days in 2014. EEDLD = $60,000 x (1/16) x (16/260) = $230.77
Yearly contract cost as used shall mean the fixed maintenance cost payable by the Agency for the year in which said damages are sustained, including any escalations from prior years, but shall not include extra charges properly billed by the Contractor under this Agreement. If such damages occur in a period that is partly in one contract year and partly in another, the damages assessable in each such year shall be separately computed using the appropriate yearly contract cost for such each portion.

Related to Yearly contract cost

  • Contract Cost means the Contract Sum plus Price Variation. This cost shall be included in the letter of acceptance.

  • The Contract Price/Project Cost means the price payable to the Vendor under the Contract for the full and proper performance of its contractual obligations.

  • Daily Contract Quantity or “DCQ” means the quantity of Gas as set out in Clause 4.1 herein.

  • 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.

  • Total Contract Price/Project Cost/TCO means the price payable to Service Provider over the entire period of Contract for the full and proper performance of its contractual obligations.

  • The Contract Price/ Project Cost means the price payable to the Vendor under the Contract for the full and proper performance of its contractual obligations.

  • Contract Charges means charges that accrue during a given month as defined in Article III. “Contract Term” is defined in Article IV.

  • Total Contract Price/Project Cost/TCO means the price payable to Service Provider over the entire period of Contract for the full and proper performance of its contractual obligations.

  • Equipment Cost means, for each Unit, the purchase price therefor -------------- paid by the Owner Trustee to the Lessee pursuant to Section 2 of the Participation Agreement and as set forth in Schedule 1 to the Participation Agreement with respect to such Unit. Notwithstanding anything to the contrary contained in the Operative Agreements, the Equipment Cost for any Replacement Unit shall be deemed to be the Equipment Cost or deemed Equipment Cost of the Unit replaced by such Replacement Unit.

  • Eligible cost means as applied to a qualified project to be financed from the federal accounts, the costs that are permitted under applicable federal laws, requirements, procedures, and guidelines in regard to establishing, operating, and providing assistance from the bank. As applied to a qualified project to be financed from the state highway account, these costs include the costs of preliminary engineering, traffic and revenue studies, environmental studies, right‑of‑way acquisition, legal and financial services associated with the development of the qualified project, construction, construction management, facilities, and other costs necessary for the qualified project. As applied to any qualified project to be financed from the state transit account, eligible project costs are limited to capital expenditures for transit equipment and facilities.

  • Net cost means the Contractor’s actual cost after deducting all permitted cash and trade discounts, rebates, allowances, credits, sales taxes, commissions, and refunds (whether or not any or all of the same shall have been taken by the Contractor) of all parts and materials purchased by the Contractor solely for the use in performing its obligation hereunder provided, where such purchase has received the prior written approval of the Manager as required herein. The Contractor shall promptly furnish to the Manager such bills of sale and other instruments as the Manger may require, executed, acknowledged and delivered, assuring to the Manager title to such materials, supplies, equipment, parts, and tools free of encumbrances.

  • 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;

  • Operating Cost means the costs associated with operating a multifamily development once the project is placed in service.

  • Original Project Cost means the capital expenditure incurred by the Generating Company or the Transmission Licensee, as the case may be, within the original scope of the project up to the cut-off date as admitted by the Commission;

  • Fixed Allowances For the purpose of this guarantee and for the purpose of establishing compliance with this guarantee, the following shall be used as fixed quantities and allowances: Operational Empty Weight minus Tare, OEW: 350,000 Pounds Takeoff and Climbout Maneuver: Fuel 3,230 Pounds Distance 7 Nautical Miles Usable reserve fuel remaining upon completion of the approach and landing maneuver: 30,000 Pounds

  • Full Replacement Cost as used herein shall mean the actual replacement cost of the Leased Property requiring replacement from time to time including an increased cost of construction endorsement, if available, and the cost of debris removal. In the event either party believes that full replacement cost (the then-replacement cost less such exclusions) has increased or decreased at any time during the Lease Term, it shall have the right to have such full replacement cost re-determined.

  • Estimated Project Cost means Benchmark cost of MNRE which is Rs 8.00 Crore/MWp as per MNRE letter no. 03/20/2014-15/GCRT/11.12.14 at the time of Bid Due date.

  • Declared Monthly Consumption means the Declared Monthly Consumption set out in the Acceptance Form for Electricity Supply.

  • Gross earnings means all monies earned by the Employee under the terms of this Collective Agreement.

  • Total Project Cost means all the funds to complete the effort proposed by the Applicant, including DOE funds (including direct funding of any FFRDC) plus all other funds that will be committed by the Applicant as Cost Sharing.

  • Target cost, as used in this contract, means the estimated cost of this contract as initially negotiated, adjusted in accordance with paragraph (d) of this clause.

  • Support Cost Rate means the flat rate at which the Partner will be reimbursed by UN Women for its Support Costs, as set forth in the Partner Project Document and not exceeding a rate of 8% or the rate set forth in the Donor Specific Conditions, if that is lower. The flat rate is calculated on the eligible Direct Costs.

  • Gross Rooms Revenue means all revenues derived from the sale or rental of Guest Rooms (both transient and permanent) of the Hotel, including revenue derived from the redemption of points or rewards under the loyalty programs in which the Hotel participates, amounts attributable to breakfast (where the guest room rate includes breakfast), Mandatory Guest Fees, late cancellation fees, and guaranteed no- show revenue and credit transactions, whether or not collected, at the actual rates charged, less allowances for any Guest Room rebates and overcharges, and will not include taxes collected directly from patrons or guests. Group booking rebates, if any, paid by you or on your behalf to third-party groups for group stays must be included in, and not deducted from, the calculation of Gross Rooms Revenue.

  • Disposable earnings means that part of the earnings of an

  • Rent Expense means, for any Person for any period of determination, such Person’s operating lease expense computed in accordance with GAAP, including, without limitation, all contingent rentals, but excluding all common area maintenance expenses.

  • Total Contract Price means the total set out in "Tender Document Form: Contract Prices".