Construction Cost Summary Sample Clauses
Construction Cost Summary. (a) A copy of a Construction Cost Summary in respect of the conversion of the Ship to an FSRU in a form and substance acceptable to the Lenders, GIEK and the Independent Engineer certified by an officer of the Borrower as being true and complete;
(b) A due diligence report from the Independent Engineer in respect of the conversion of the Ship to an FSRU in a form and substance acceptable to the Lenders and GIEK containing (inter alia) evidence satisfactory to the Lenders and GIEK in consultation with the Independent Engineer that the ratio of the Charterhire anticipated to be payable during the currency of this Agreement to the Total Commitments is equal to or greater than 1.40:1.
Construction Cost Summary. As part of the MACC negotiations, a complete construction cost summary will be provided by the Contractor at execution of this Agreement and at execution of any amendment to the Contract Documents that modifies the MACC. The construction cost summary will be in the format provided in Attachment 3, herein, and will cover any applicable Component(s) for which Work will be performed under that MACC.
Construction Cost Summary. The Risk Contingency Account is included in the MACC. The Contractor may utilize the Risk Contingency Account established herein to pay for items for which it is responsible, as defined in section 6.4.2 herein, provided Contractor may only utilize the Risk Contingency Account to cover costs related to damage or loss to the Work or materials or equipment, when: (1) the Risk Contingency Account has not already been expended, (2) the loss occurs prior to substantial completion, (3) it cannot be determined which subcontractor or Contractor may have caused the damage or loss, and (4) the Owner agrees to waive the provisions of Section 5.08 F of the General Conditions and authorizes the use of the Risk Contingency Account for this particular purpose. The Contractor may not use the Risk Contingency Account for items that are defined as Percent Fee or as Specified General Conditions in sections 6.5.1 and 6.5.2 herein. The Contractor’s use of the Risk Contingency Account must be approved in advance by the Owner. The Contractor shall provide the Owner monthly updates on the use of the Risk Contingency Account. Any funds remaining in the Risk Contingency Account shall be returned to the Owner with the corresponding Percent Fee. No incentives may be paid to the Contractor from this Account or savings from this Account.