Cost Overrun. In the event Artist incurs costs in excess of the maximum compensation set forth in EXHIBIT C, Artist shall pay such excess from Artist’s own funds. City shall not be required to pay any part of such excess and Artist shall not have any claim against City on account of any cost overruns.
Cost Overrun. In the event ARTIST incurs costs over the TOTAL PRICE, ARTIST shall pay such excess at ARTIST’s sole cost. CITY is not responsible for any part of such excess.
Cost Overrun. The Government is under no obligation to share any cost overruns (i.e., costs incurred during the Project that are more than those estimated at the date of award). DOE does not plan to set-aside funds for overruns. If appropriated funds are available in the future for supporting overruns, the Government’s share of overruns will not exceed the Government’s percentage cost share for the overall Project as specified in Article 5.
Cost Overrun. The Sponsor shall have financed/funded the Cost Overrun if any, in the form and manner as provided in the Sponsor Support Agreement.
Cost Overrun. “Cost Overrun” means all costs of construction and renovation of the Property (including all “hard” and “soft” costs) in excess of the aggregate Project Costs.
Cost Overrun. In cases where all of the following are true: (i) the lowest responsive bid for or proposed total cost of construction of a Covered Project is at least 25% greater than the Public Owner’s pre-bid estimate of construction cost; (ii) the Public Owner’s construction management team receives reasonably reliable indication that application of the Agreement will increase project construction costs beyond the Public Owner’s pre-solicitation estimate by at least 10%; and (iii) the cost increase jeopardizes the ability of the project to move forward within the Public Owner’s established budget parameters or confirmed funding sources; then the Public Owner may reject such bid or proposal and re-solicit the project with revised project terms, including discretion to re-solicit without application of this Agreement, or with revised terms agreed among the Parties.
Cost Overrun. In each Contract Year, if a party determines that the budgeted cost for an activity set out in the Joint Development Budget for which it is responsible is likely to be exceeded or is exceeded by more than [***] percent ([***]%) in that Contract Year, it shall: (i) promptly inform the Steering Committee of the expected or actual cost overrun; and (ii) provide the Steering Committee with a detailed, written explanation for the cost overrun for that activity, and complete and accurate records substantiating the expected or actual cost overrun. At its next regularly scheduled meeting, the Steering Committee shall determine whether any, and to what extent, the cost overrun shall be absorbed by that party, reimbursed by the other party, or shared in some proportion between the parties. If the Steering Committee determines that any aspect of the cost overrun should be reimbursed by the other party, it shall prepare and approve an amended Joint Development Budget for that Contract Year and provide a copy to each party. No reimbursement of any cost overrun shall be made if the party seeking the reimbursement does not notify the other party within twenty (20) Business Days after the end of the Contract Year in which the cost overrun occurred.
Cost Overrun. As a condition to the effectiveness of this Second Lease Amendment, Tenant will promptly deliver the sum of Two Hundred Eight Thousand Three Hundred Sixty-Five and 00/100 Dollars ($208,365.00) to Landlord as a reimbursement for costs incurred by Landlord in relation to the construction of the daycare expansion space and the cost overrun on the remainder of the Phase 1 Expansion Space.
Cost Overrun. If the Construction Agent wishes to acquire and install at the Site any equipment, or equipment parts, supplies or accessories pursuant to any cost overrun, change order or other variation in excess of available contingencies under the Construction Budget (a "Cost Overrun"), the Owner shall have the right, but not the obligation, to finance such Cost Overrun. The Construction Agent shall request an amendment to the Construction Budget to include any Cost Overrun and an Advance from the Owner to fund any Cost Overrun, which request may be accepted by Owner in its sole discretion. Notwithstanding the foregoing, to the extent any Cost Overrun of Equipment constitutes a Non-Severable Improvement (i) it must be and remain free and clear of all liens, claims and encumbrances and (ii) it shall be deemed solely the property of Owner and Owner shall receive a xxxx of sale for any such Nonseverable Improvement as a pre-condition to any Advance therefor.
