Approved Costs Clause Samples
The 'Approved Costs' clause defines which expenses are recognized as legitimate and reimbursable under an agreement. Typically, it outlines the categories of costs that must be pre-approved by one party, such as materials, labor, or travel, and may require documentation or prior written consent for certain expenditures. This clause ensures that only agreed-upon costs are paid, preventing disputes over unauthorized or unexpected charges and providing financial clarity for both parties.
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Approved Costs. B2.03 Subject to the entitlement in B2.02, the Employer will pay the following costs associated with an employee's move to either the point of recruitment or the actual new residence, whichever results in less expense.
Approved Costs. Costs that Consultant may incur include, but are not limited to: travel, entertainment, printing, telephone, advertising, third party services, printing, postage and courier fees. Consultant will seek and receive Principal's approval for any expenditures in excess of $5,000 monthly prior to expending said monies or incurring said expense.
Approved Costs. Defined in Section 4.2(m) hereof. --------------
Approved Costs. For purposes of this Agreement, the term “Approved Costs” means only those actual, direct costs incurred by Operator (without mark-up) in the performance of Services that have been approved by the Chief Executive Officer in writing pursuant to the terms of this Agreement and do not exceed the amount of such costs as set forth in the applicable Approved Annual Budget and the Cost and Revenue Summary. For purposes of calculating the Operator Margin under Section 3.5 below, Approved Costs shall be classified as Approved Costs relating to operating expenses (“OPEX Approved Costs”) and Approved Costs relating to capital expenditures (“CAPEX Approved Costs”). Capital expenditures are identified as “capex” in the Cost and Revenue Summary. For purposes of calculating the Operator Margin, the OPEX Approved Costs shall also be segregated between Approved Costs relating to Services performed with respect to LAX and Services performed with respect to VNY. For clarity and avoidance of doubt, the term Approved Costs does not include the amount of the Operator Margin. Notwithstanding any other provision of this Agreement, except for the Approved Costs, any and all costs and expenses incurred by Operator arising out of or in connection with the performance of this Agreement shall be borne by Operator without reimbursement or other compensation by City.
Approved Costs. Defined in Section 4.2(m) of this Agreement.