Cost Cap Sample Clauses

A Cost Cap clause sets a maximum limit on the amount one party is required to pay under a contract. In practice, this means that regardless of the actual expenses incurred, the paying party will not be obligated to reimburse or pay more than the agreed-upon cap. For example, in a service agreement, the client may agree to cover costs up to a certain dollar amount, with any excess being the responsibility of the service provider. The core function of this clause is to provide financial certainty and protect parties from unexpected or unlimited expenses.
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Cost Cap. SWEPCO commits to a total cost cap of 100% of filed capital costs, including AFUDC and contingency, as set forth in Attachment 1 for the Base Case and each other scenario. The Cost Cap will be reduced by the amount of any purchase price reduction realized by the Company under the terms and conditions of the Purchase and Sale Agreements (PSAs), plus a proportionate share of contingency, including any amount that reflects a reduction in the amount of MW acquired by SWEPCO if the Company does not receive certain regulatory approvals. Costs above the cap are not recoverable. There shall be no exceptions to the cap for force majeure or changes in applicable law.
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Cost Cap. The Iowa jurisdictional portion of MidAmerican’s prudently incurred capital costs, operation and maintenance expenses and other actual costs of the Expansion Project shall be included in MidAmerican’s regulated electric rates. MidAmerican shall be permitted to include in rates the actual costs of the Expansion Project, up to the Iowa jurisdictional portion of $1.3 million per MW installed (inclusive of associated costs necessary for the reliable integration of the Expansion Project into the MidAmerican delivery system), without the need to establish prudence or reasonableness. MidAmerican anticipates installing up to 90 MW of additional wind capacity. MidAmerican shall be required to establish the prudence and reasonableness of any Expansion Project costs in excess of the foregoing calculated per MW amount before the Iowa jurisdictional portion of such excess can be included in rates.
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  • COST OF LIVING ALLOWANCE 29:01 All employees within the Bargaining Unit shall be paid a cost of living allowance based on the cost of living formula as set forth below: The cost of living allowance will be determined in accordance with changes in the Consumer Price Index, published by Statistics Canada (1961 = 100) and hereinafter referred to as the Consumer Price Index. The base Consumer Price Index shall be the Consumer Price Index for February 2016. The first (1st) cost of living adjustment shall be based on the Consumer Price Index of May, 2016, and each three (3) months thereafter compared to the base Consumer Price Index for February 2016. Cost of living adjustments shall be made on pay periods commencing 11:59 p.m. on the following dates: July 5, 2016; October 11, 2016; January 17, 2017; and April 10, 2017. The cost of living rate adjustment shall be One ($0.01) Cent per hour for each point five (.5) change in the Consumer Price Index. The cost of living allowance will be adjusted up or down if and as required for each quarterly period in accordance with the above mentioned formula, provided, however, that in no event will a decline in the Consumer Price Index below the figure as recorded for February, 2016, minus 2.5 points provide a basis for further reduction in the straight time rates set forth in Schedule "A" of the within Agreement. The amount of cost of living Allowance in effect at any time shall be included in computing vacation pay, holiday pay, call-in pay, sick pay, paid leave of absence and Workplace Safety Insurance Board payments. The amount of cost of living allowance shall be included in computing overtime pay except that there shall be no pyramiding as stated in clause 19:06 of the within Agreement. As of June 30, 2016, the cost of living rate adjustment less Five ($0.05) Cents* will be added to the base rates set forth in Schedule "A" in order to create new base rates - said new base rates to be effective as of July 1, 2016. Upon creation of new base rates as provided in the preceding paragraph, a new base Consumer Price Index shall be established and shall be calculated as being the Consumer Price Index for February 2016 minus 2.5 points. This article shall be frozen during the life of the Collective Agreement and no monies will be generated or paid during the term of the Collective Agreement. *The Five ($0.05) Cents referred to was folded into the Base Hourly Wage Rates noted in Schedule “A” effective July 1, 1986. The University of Windsor and C.U.P.E., Local 1001 recognize that some Employees in the Bargaining Unit are using the Sick Leave Plan for illness and various medical appointments above the normal average within the University staff. The Union believes it is the duty of the Employer to manage the Sick Leave Plan and the Union's duty to represent their members eligible to receive sick pay to the best of their ability. To assist the Employer with their concern over the use of the Plan and to protect the interest of the members against any possible erosion of the existing Plan, the Union agrees to counsel all employees by letter and by presentations at general meetings on the need for regular attendance. Further, the Union will encourage members, whenever possible, to schedule appointments after their shift has concluded or as near to the end of their shift as possible.

  • Over-Allowance Amount On the Cost Proposal Delivery Date and, in any event, prior to the commencement of the construction of the Tenant Improvements, Tenant shall deliver to Landlord cash in an amount (the “Over-Allowance Amount”) equal to the difference between (i) the amount of the Cost Proposal and (ii) the amount of the Tenant Improvement Allowance (less any portion thereof already disbursed by Landlord, or in the process of being disbursed by Landlord, on or before the Cost Proposal Delivery Date). The Over-Allowance Amount shall be disbursed by Landlord prior to the disbursement of any then remaining portion of the Tenant Improvement Allowance, and such disbursement shall be pursuant to the same procedure as the Tenant Improvement Allowance. If, after the Cost Proposal Date, any revisions, changes, or substitutions shall be made to the Construction Drawings or the Tenant Improvements as a result of requests made by Tenant or as otherwise specified in Section 5.01(h) below, any additional costs which arise in connection with such revisions, changes or substitutions shall be paid by Tenant to Landlord immediately upon Landlord’s request as an addition to the Over-Allowance Amount and, in any event, prior to the commencement of the construction of the revisions, changes or substitutions. Promptly following completion of construction of the Tenant Improvements and payment of all costs incurred in connection therewith, Landlord shall prepare and deliver to Tenant a reasonably detailed reconciliation of (i) the total cost of the Tenant Improvements, including all Tenant Improvement Allowance Items, and (ii) the total amount of the Tenant Improvement Allowance and the Over-Allowance Amount payments previously made by Tenant pursuant to the foregoing provisions of this Section. To the extent that such reconciliation discloses that the total costs of the Tenant Improvements exceeds the amount of the Tenant Improvement Allowance plus all Over-Allowance Amount previously paid by Tenant, Tenant shall pay the amount of such shortfall to Landlord within thirty (30) days after receipt of such reconciliation. To the extent that such reconciliation discloses that the total costs of the Tenant Improvements is less than the amount of the Tenant Improvement Allowance plus all Over-Allowance Amounts previously paid by Tenant, Landlord shall pay the amount of such overage to Tenant at the time that Landlord delivers such reconciliation to Tenant.

  • Cost Share Federal and provincial governments support AgriInsurance programs by paying all administration expenses and sharing premium costs with the Insured.

  • Allowable Costs A. Allowable Costs are restricted to costs that are authorized under Texas Uniform Grant Management Standards (TxGMS) and applicable state and federal rules and laws. This Grant Agreement is subject to all applicable requirements of TxGMS, including the criteria for Allowable Costs. Additional federal requirements apply if this Grant Agreement is funded, in whole or in part, with federal funds. B. System Agency will reimburse Grantee for actual, allowable, and allocable costs incurred by Grantee in performing the Project, provided the costs are sufficiently documented. Grantee must have incurred a cost prior to claiming reimbursement and within the applicable term to be eligible for reimbursement under this Grant Agreement. At its sole discretion, the System Agency will determine whether costs submitted by Grantee are allowable and eligible for reimbursement. The System Agency may take repayment (recoup) from remaining funds available under this Grant Agreement in amounts necessary to fulfill Grantee’s repayment obligations. Grantee and all payments received by Grantee under this Grant Agreement are subject to applicable cost principles, audit requirements, and administrative requirements including applicable provisions under 2 CFR 200, 48 CFR Part 31, and TxGMS. C. OMB Circulars will be applied with the modifications prescribed by TxGMS with effect given to whichever provision imposes the more stringent requirement in the event of a conflict.

  • Cost of Living There will be a cost-of-living allowance calculated on hours worked as follows: An Increase of one (1) cent per hour worked for each rise of .062 points in the Consumer Price Index or a decrease of one (1) cent per hour worked for each drop of .062 points in the Consumer Price Index. When CPI changes would result in a decrease in the total COLA payable, it is agreed and understood that the total COLA payable will be maintained at the level in effect prior to the decrease in CPI in exchange for future offsets. These offsets will take the form of postponing any new COLA generated until such time that the CPI used for any an adjustment date exceeds the CPI that generated the last positive COLA payment. The cost-of-living allowance will be established in accordance with changes in the official Consumer Price Index published by Statistics Canada (2002=100) and hereinafter referred to as the Consumer Price Index which was 112.1 as of June 2007 (May 2007). In no event will a decrease in the Consumer Price Index reduce the contract rates listed in the attached wage schedule outlined in Article 14. The amount of any cost-of-living allowance in effect at any time shall be included in computing overtime pay, jury duty pay and funeral time pay. Index is to be reviewed each quarter commencing January 2014. Revision in cost-of-living allowance will take effect the first of the pay period commencing after Index publication. The continuance of the cost-of-living allowance shall be contingent upon the availability of the official monthly Statistics Canada Consumer Price Index in its present form and calculated on the same basis as the Index published January 25, 2014, unless otherwise agreed upon by the parties. In the event the form or basis of the Index is changed, the parties agree to request said Statistics Canada to continue to furnish, for the term of this agreement, the Index in its present form and calculated on the same basis as the Index published January 25, 2014. Fold in all existing COLA adjustments into wages up to and including adjustment #12 (October 2017).