Total Budget means the Core Budget and the Expanded Financing Component of any CRP, as approved by the Fund Council.
Total Budget means budget for all funds held by the intermediate school district.
Total Budget is the maximum cost anticipated by Borrower for the Project; (c) “Loan Proceeds” is the maximum amount to be advanced under the Loan, and as used herein, such term shall mean Loan funds to be advanced by the Lenders subject to the terms and conditions of this Agreement; and (d) “Up-Front Equity” is FIFTY SEVEN MILLION FIVE HUNDRED SIXTY ONE THOUSAND TWO HUNDRED THIRTY SEVEN AND NO/100 DOLLARS PAGE 1 ($57,561,237.00), the amount which is to be paid by Borrower toward the Total Costs, and advanced prior to the first Advance of any Loan Proceeds. Up-Front Equity Cash and Loan Proceeds shall be advanced subject to the terms, covenants, conditions and provisions of this Agreement. Borrower shall not amend the Budget, or otherwise reallocate Loan funds from one Budget line item to another, without the prior written approval of Administrative Agent in its sole discretion or except as expressly provided for herein. The Budget has been prepared by Borrower, and Borrower represents to Administrative Agent and Lenders that to the best of Borrower’s knowledge, the Budget includes all costs incident to the Loan and the Project through the maturity date of the Loan (collectively, the “Aggregate Cost”) after taking into account the requirements of this Agreement, including “hard” and “soft” costs, fees and expenses. Unless approved by Administrative Agent in its sole discretion, no advance shall be made (a) for any cost not set forth in the Budget, (b) from any line item in the Budget that, when added to all prior advances from that line item, would exceed the lesser of (i) the actual cost incurred by Borrower for such line item, or (ii) the sum shown in the Budget for such line item, (c) from any contingency line item, or (d) to pay interest on the Loan after commencement of operations in the Improvements if and to the extent that, subject to the provisions of Exhibit “I”, there is sufficient net operating income from the Property to pay such interest. Advances from any line item in the Budget for purposes other than those for which amounts are initially allocated to such line item, or changes in the relative amounts allocated to particular line items in the Budget may only be made as Administrative Agent in its sole discretion deems necessary or advisable. In the event the general contractor produces a cost savings on a particular line item under a construction contract with such general contractor, the general contractor will deduct the savings on that line item and i...
Examples of Total Budget in a sentence
IID may modify such budget from time to time by giving notice to the Manager, provided that any increase in the Total Budget shall require the approval of the IID Board of Directors acting in public session if the amount of such increase, plus the aggregate of all budget increases since the date hereof or the last such approval, whichever is later, exceeds $100,000.
Under no circumstances shall the cumulative total of the cash calls issued by IID pursuant to Section 3.02 exceed the Total Budget.
Notwithstanding any other provision of this Agreement, in no event shall any Participant be required to make any Project Contribution after the cumulative total of Project Contributions made by or on behalf of that Participant equals PS(i) TB x ----- x 1.2 100% where TB is the Total Budget as of the date of this Agreement and PS(i) is the Project Share of that Participant.
If at any time the Project Working Group has reason to believe that the cost of the Project will be greater than the Total Budget Amount, University shall notify Company immediately in writing to that effect, and shall provide a revised budget of the cost of completion of the Project, together with its justification for such increase, with such notice.
Sponsor shall not be obligated to reimburse University for the costs incurred in excess of the Total Budget Amount unless and until Sponsor has notified University in writing that the revised budget is accepted via formal Amendment to this Agreement (the “Revised Total Budget Amount”).
More Definitions of Total Budget
Total Budget means the total budgeted cost of the Transmission Project as shown in Exhibit 4, as the same may be modified pursuant to Section 4.01. Transmission Agreement
Total Budget means the Maricopa County Department of Emergency Management’s General Fund and Grant Fund expenditure budgets as adopted by the Maricopa County Board of Supervisors, plus baseline internal/central service charges, for the Preceding Fiscal Year. Budgeted fund balance expenditures, annual maintenance cost for the comprehensive emergency management tool and capital items are not included in the “Total Budgeted” calculation.
Total Budget is the maximum cost anticipated by Borrower for the Construction of the Improvements and Borrower’s satisfaction of the other requirements of the Loan; (c) the “Loan Proceeds” are the maximum amount to be advanced under the Loan; and (d) “Borrower Equity” is the amount that Borrower is required to pay toward the Total Costs. Whenever Borrower is required to pay any items from Borrower Equity, Lender, at its option, may restrict or prohibit advances of the Loan for such items to the extent that Borrower Equity is sufficient to pay such amounts. After the exhaustion of Borrower Equity allocated to a given line item, Lender will advance Loan proceeds for that line item pursuant to the Budget.
Total Budget is the maximum cost anticipated by Borrower for the Project; (c) “Loan Proceeds” is the maximum amount to be advanced under the Loan; and (d) “Up-Front Equity” is $28,042,653.36 which is to be paid by Borrower toward the Total Costs, and advanced prior to the Initial Advance of the Loan. The Up-Front Equity and Loan Proceeds shall be advanced subject to the terms, covenants, conditions and provisions of this Agreement. Borrower shall not amend the Budget, or otherwise reallocate funds from one Budget line item to another, without the prior written approval of Administrative Agent in its sole discretion. The Budget has been prepared by Borrower, and Borrower represents to Administrative Agent and the Lenders that, to the best knowledge of Borrower, the Budget includes all estimated costs incident to the Loan and the Project, assuming sufficient cash flow to pay interest on the Loan and other operating expenses of the Property (including marketing expenses) not included in such Budget, through the maturity date of the Loan (collectively, the “Aggregate Cost”) after taking into account the requirements of this Agreement, including “hard” and “soft” costs, fees and expenses.
Total Budget is the maximum cost anticipated by Borrower for the Construction of the Improvements and Borrower’s satisfaction of the other requirements of the Loan; (c) the “Loan Proceeds” are the maximum amount to be advanced under the Loan; (d) “Upfront Equity” is the amount that Borrower is required to pay toward the Total Costs; and (e) “Deferred Equity” is an additional amount that Borrower is required to pay toward the Total Costs as of the date indicated. Whenever Borrower is required to pay any items from Upfront Equity or Deferred Equity, Lender, at its option, may restrict or prohibit advances of the Loan for such items to the extent that Upfront Equity or Deferred Equity is sufficient to pay such amounts. Whenever Borrower’s Upfront Equity or Deferred Equity is on deposit with Lender, Lender shall make all advances first from such equity based on the allocations thereof set forth in the Budget. After the exhaustion of Upfront Equity or Deferred Equity allocated to a given line item, Lender will advance Loan proceeds for that line item pursuant to the Budget. Lender acknowledges and agrees that the Upfront Equity and the Deferred Equity will be funded by Borrower from proceeds under the Subordinated Note.
Total Budget. 550 hr (phase 1). We foresee growing costs when successful. The budget is therefore raised in the years 2022-2024.
Total Budget means the overall amount of Grant provided to the Grant Recipient to deliver all Mobility placements. Payments of Grant and the Grant Recipient's live Mobility data reporting will be managed via the Project Reporting Tool. The Grant Recipient must use this tool to manage their approved Project. Any changes will need to be approved via a formal change request process with the TSA and changes which are permissible via the Project Reporting Tool are clearly set out in Annex 11 (Change Control Process). It is the Grant Recipient’s responsibility to update the Project Reporting Tool monthly once Mobilities have started. Access to the Project Reporting Tool will be provided by the TSA once the Grant Recipient has signed this Grant Funding Agreement and should be used as the management tool by the Grant Recipient to make any permissible changes from August 2022 onwards. The Project Reporting Tool will have the functionality to: 🠶 Provide unique project identification / reference. 🠶 Report / track individual Mobility participation per Mobility Group. 🠶 Detail Anticipated Points of Expenditure and the dates required for the Payment Request over the project lifecycle. 🠶 Auto calculation of the Organisational Support. 🠶 Display of Total Budget awarded to the Grant Recipient and the amount of Grant which has been received by the Grant Recipient at any given time. 🠶 Ability for the Grant Recipient to verify and keep Mobility participant data up to date and live on a monthly basis and make adjustments to ensure accuracy of payments. 🠶 Make permissible changes as set out in Annex 11 (Change Control Process). 🠶 Submit Final Reports and relevant data. 🠶 Provide narrative for any permissible changes. The Project Plan, which is created through collation of the information entered by the Grant Recipient into the Grant Application, forms the starting point for the payments to be made to the Grant Recipient by the TSA. The Project Plan summarises the Mobility Group start dates, the Anticipated Points of Expenditure, and when requests will need to be submitted for payments to be made. Access to the Project Plan data will be incorporated into the Project Reporting Tool. Grant Recipients will need to fulfil set requirements as set out below to trigger a payment. Organisational Support Anticipated Point of Expenditure 🠶 One Organisational Support claim per Project6 (80% paid at point of expenditure and 20% paid as part of Final Report reconciliation). 🠶 Can be from Augus...