Budget Reallocations. The Project Budget shall not be revised, supplemented or amended without Lender’s prior written consent; provided, however, that if the proposed revisions, supplements or amendments do not affect the aggregate figures set forth in the Project Budget, Borrower may, without Lender’s prior written consent, (i) reallocate the amounts of specific cost categories in either such budget to other cost categories in such budget if the reallocation does not amount to a ten percent (10%) or greater change in the original amount of the reallocated cost category, (ii) reallocate cost savings under one cost category to any other cost category and (iii) use funds from the contingency reserve to cover overages under any cost category. Upon the occurrence of an Event of Default, Lender may allocate any cost category on the Project Budget for any other cost category.
Budget Reallocations. 29 Section 2B.15
Budget Reallocations. Agent agrees not to unreasonably withhold its consent to Budget reallocations requested by Borrower provided (i) that at the time of any such request, there is no Event of Default then existing hereunder or under any other Loan Document, (ii) the Loan is "in balance" as defined in Xxxxxxx 0X.0, (xxx) in the case of reallocation of savings, such savings are actual cost savings for work completed and fully paid for in connection with the construction of the Improvements or are cost savings that will be realized upon completion of work in progress, all as documented to the reasonable satisfaction of Agent, and all applicable requirements of the New York Lien Law are complied with, at the sole expense of Borrower, as determined by Agent in its sole discretion upon the advice of counsel, and (iv) under no circumstances may items designated in the Budget as Hard Costs be allocated to items designated in the Budget as Soft Costs, or vice versa until Agent shall have granted its prior written consent thereto, which consent shall not be unreasonably withheld, and all applicable requirements of the New York Lien Law are complied with, at the sole expense of Borrower, as determined by Agent in its sole discretion upon the advice of counsel.
Budget Reallocations. 36 2.1.8 Advances................................................................. 37 2.1.9 Advances for Stored Materials............................................ 37 2.1.10 Amount of Advances....................................................... 40 2.1.11 Loan Balancing........................................................... 40 2.1.12 Quality of Work.......................................................... 41 2.1.13
Budget Reallocations. (a) Subject to the prior approval of Agent, which shall not be unreasonably withheld, Borrower may revise the Loan Budget from time to time to move amounts available under the Hard Costs Budget Line denominated "Contingency" to other Hard Costs Budget Lines, and/or to move amounts available under the Soft Costs Budget Line denominated "Contingency" to other Soft Costs Budget Lines and/or to move amounts available under the Soft Costs Budget Line denominated "Contingency" to Hard Costs Budget Lines. Notwithstanding anything to the contrary contained herein, provided no Event of Default shall have occurred and be continuing, Borrower shall have the right to reallocate, without the prior approval of Agent, up to $7,500,000 of the total amounts available under the Soft Costs Budget Line denominated "Contingency" to other Soft Costs Budget Lines.
Budget Reallocations. (1) The Energy Commission, through its CAM and Grants and Loans Officer, and the Recipient can agree upon and make certain budget reallocations without a formal amendment to this Agreement as long as ALL of the following conditions are met:
Budget Reallocations. [Party name] has the possibility to reallocate between the budgeted outputs/budget lines up to 30 %. Relocations exceeding 30 % must be presented to and approved by DIPD’s board.
Budget Reallocations. (a) Other than Permitted Budget Re-allocations, subject to the prior approval of Lender, which shall not be unreasonably withheld, conditioned or delayed, the Borrower may revise the Project Budget from time to time to move Building Loan Contingency (Hard Costs) to other Hard Costs Budget Lines, and/or to move Building Loan Contingency (Soft Costs) to other Soft Costs Budget Lines. Any Permitted Budget Re-allocations shall not require the prior approval of Lender, but Borrower shall provide prompt written notice of same to Lender.
Budget Reallocations. 7.1. The Grant will be managed according to the Budget breakdown annexed in the Project Proposal attached hereto (Annex 2).
Budget Reallocations. The Alpine Valley Project Budget shall not be revised, supplemented or amended without Lender’s prior written consent; provided, however, that if the proposed revisions, supplements or amendments do not affect the aggregate figures set forth in the Alpine Valley Project Budget, Borrower may, without Lender’s prior written consent, (i) reallocate the amounts of specific cost categories in either such budget to other cost categories in such budget if the reallocation does not amount to a ten percent (10.00%) or greater change in the original amount of the reallocated cost category, (ii) reallocate cost savings under one cost category to any other cost category, and (iii) use funds from the contingency reserve to cover overages under any cost category. Upon the occurrence of an Event of Default, Lender may allocate any cost category on the Alpine Valley Project Budget for any other cost category.
