Excess Cost Clause Samples

The Excess Cost clause defines the responsibility for additional expenses incurred when a party fails to fulfill its contractual obligations, typically in procurement or supply contracts. If the original supplier cannot deliver as agreed, the buyer may procure the goods or services from another source, and any extra costs above the original contract price are charged to the defaulting party. This clause ensures that the non-breaching party is protected from financial loss due to the other party's failure, thereby allocating risk and incentivizing performance.
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Excess Cost. 15.4.1 Unit members whose benefits costs exceed the maximum district contribution specified in 15.2.1 shall have the balance of premiums-due deducted from their monthly paychecks.
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Excess Cost. Tenant shall pay for all costs of the construction of the Tenant Improvements (including architectural costs and Landlord's Contractor's charge) in excess of Landlord's Allowance (the "Excess Cost"). If the cost of construction (including ▇▇▇▇▇▇▇▇'s Contractor's fee, comprising ▇▇▇▇▇▇▇▇'s contractor's charge for overhead and profit equal to fifteen percent (15%) of the first One Hundred Thousand Dollars ($100,000.00) of construction costs, plus twelve percent (12%) of such costs, if any, in excess of $100,000.00, plus Landlord's Contractor's standard supervision fees) exceeds the funds available therefor from Landlord's Allowance, then Tenant shall pay to Landlord, as work progresses in course of construction installments and within fifteen (15) days of written demand, the anticipated cost of the construction of the Tenant Improvements that exceeds ▇▇▇▇▇▇▇▇'s Allowance.
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Excess Cost. If the projected cost of Tenant Improvements exceeds the Improvement Allowance (the funds for the cost of construction of the Tenant Improvements in excess of the Improvement Allowance being referred to hrein as the “Excess Cost Funds”, and provided Tenant shall not be in default of any of its obligations under this Work Agreement, Landlord agrees to fund, on a pro rata basis with Tenant, disbursements of the Improvement Allowance (less retainage amounts as provided in this Work Agreement) concurrently with Tenant’s funding of its pro rata share of the Excess Costs; provided, however, in the event of a default by Tenant under this Work Letter, Landlord shall be entitled to demand payment by Tenant of the Excess Cost Funds in a construction escrow established by Landlord (whhich escrow may be administrerd by Landlord’s attorny or propert ymanagement company) to pay for the cost of the Tenant Improvements over and above the amount of the Improvement Allowance prior to advancing any funds comprising the Improvement Allowance under the terms of this Work Agreement. For avoidance of doubt, Landlord and Tenant acknowledge that Landlord’s pro rata share of a payment due towards the cost of the Tenant Improvements (where there are costs over and above the Improvement Allowance) shall be based on the ratio that the Improvement Allowance bears to the total projected cost of the Tenant Improvements, and Tenant’s pro rata share shall be the percentage share remaining after subtracting Landlord’s pro rata share from 100.
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Excess Cost. The amount, if any, by which the total cost of completing the Tenant Improvements (including design fees, construction costs, and the cost of obtaining building and occupancy permits) exceeds the Tenant Allowance. The calculation of Excess Cost shall not include the ADA-related items for which Landlord is responsible under Paragraph 4.B hereof.
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Excess Cost. Tenant shall bear and pay so much ("EXCESS COST") of the Tenant Improvement Costs as exceeds the Tenant Improvement Allowance. Prior to Tenant taking possession of the Expansion Premises, Tenant shall deposit with Landlord in cash the amount of the Excess Cost. After completion of the Tenant Improvements and payment of the Tenant Improvement Costs, Landlord shall pay to Tenant any amount by which the deposited funds exceeded the Excess Cost and Tenant, upon demand, shall pay Landlord any amount by which the Excess Cost exceeded the deposited funds.
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Excess Cost. Tenant shall pay for all costs of the construction of the Tenant Improvements in excess of the Tenant Improvement Allowance (the “Excess Cost”). Based on the estimated cost of the construction of the Tenant Improvements, as shown on Tenant’s budget for the construction of the Tenant Improvements (as reasonably approved by Landlord and Tenant) (the “Estimated Costs”), the pro rata share of the Estimated Costs payable by Landlord and Tenant shall be determined and an appropriate percentage share established for each (a “Share of Costs”). Tenant and Landlord shall fund the cost of the construction (including the applicable portion of the applicable fees) as the same is performed, in accordance with their respective Share of Costs for the construction, with such payments being made directly to Tenant’s Contractor. At such time as the Tenant Improvement Allowance has been entirely disbursed, Tenant shall pay the remaining Excess Cost, if any, which payments shall be made in installments as construction progresses directly to Tenant’s Contractor or the subcontractors or suppliers involved. Tenant shall furnish to Landlord copies of receipted invoices for payments made directly by Tenant for the costs of the Tenant Improvements and such waivers of lien rights as Landlord may reasonably require.
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Excess Cost. Share of Costs. If the cost of construction of the Tenant Improvements exceeds the funds available therefor from Landlord's Contribution, then Tenant shall pay all such excess.
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Excess Cost. Tenant shall pay the cost of construction of the Tenant Improvements to the extent such cost (including the general contractor's charges for supervision, overhead and profit and, if Tenant's Contractor constructs the Tenant Improvements, the Construction Operations Fee as described in Paragraph 4.f.ii.E. below) exceeds the funds available therefor from Landlord's Contribution (the "Excess Cost").
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Excess Cost. Tenant shall pay for all costs of the construction of the Tenant Improvements in excess of Landlord's Contribution (the "Excess Cost"). If the cost of construction (including Contractor's Charge as described in Paragraph 4.b.i. above) exceeds the funds available therefor from Landlord's Contribution, then Tenant shall be responsible for the payment of such excess to Shorenstein Construction.
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Related to Excess Cost

  • Excess Costs Subject to the provisions of Section 4.1.3 below, if (a) the actual cost of any line item of the Work set forth in the Budget (including all fees and soft costs) exceeds the portion of the Contract Sum allocated for that line item in the Budget, or (b) additional unanticipated costs are identified after the date of this Agreement for which amounts were not allocated or reallocated in the Budget (collectively, the “Excess Costs”), Contractor shall be solely responsible at its sole cost and expense for, and shall pay, the amount of all such Excess Costs required to complete the Work (or the component thereof) and otherwise to fulfill all of its obligations under this Agreement without reimbursement for the Excess Costs by Owner. In addition, if Owner reasonably and in good faith anticipates that an Excess Cost will be incurred to achieve Completion of the Work, Owner may provide written notice thereof to Contractor (“Cost Overrun Notice”). Within twenty (20) business days after receipt of such Cost Overrun Notice, Contractor may dispute the contents of such Cost Overrun Notice by delivering written notice thereof to Owner (the “Cost Overrun Dispute Notice”) explaining in reasonable detail that Owner’s estimation of Excess Costs is incorrect. If Contractor fails to deliver a Cost Overrun Dispute Notice, Contractor shall be deemed to have waived its right to dispute the Excess Costs identified in such Cost Overrun Notice. If Contractor delivers a Cost Overrun Dispute Notice, Owner may (A) withdraw such Cost Overrun Notice, (B) modify such Cost Overrun Notice to conform to all or any corrections offered by Contractor, or (C) if Owner disagrees with the contents of the Cost Overrun Dispute Notice, engage the Civil Engineer to determine whether (and to what extent) any Excess Costs will be incurred. If the Civil Engineer concludes that an Excess Cost will be incurred and the amount of such Excess Cost exceeds the amount, if any, of the Excess Costs identified in the Cost Overrun Dispute Notice, Contractor shall be solely responsible for the fees payable to such Civil Engineer. If the Civil Engineer concludes that the amount of Excess Costs to be incurred is equal to or less than the Excess Costs identified in the Cost Overrun Dispute Notice, Owner shall be solely responsible for the fees payable to such Civil Engineer. Any funds deposited with Owner shall be disbursed by Owner to Contractor upon completion of the applicable component of the Work and the payment of such Excess Costs, if any.

  • Total Cost It is estimated that the total cost to Princeton University for the performance of this Contract shall not exceed the Not-to-Exceed Price set forth in the Contract and the Contractor agrees to use its best efforts to perform the Work specified in the Contract and all obligations under this Contract within such Not-to- Exceed Price. If at any time the Contractor has reason to believe that the hourly rate payments and material costs that will accrue in performing this Contract in the next succeeding thirty (30) days, if added to all other payments and costs previously accrued, will exceed eighty-five percent (85%) of the Not-to-Exceed Price in the Contract, the Contractor shall notify Princeton University giving a revised estimate of the total price for performing this Contract with supporting reasons and documentation. If at any time during performing this Contract, the Contractor has reason to believe that the total price to Princeton University for performing this Contract will be substantially greater or less than stated Not-to-Exceed Price, the Contractor shall so notify Princeton University, giving a revised estimate of the total price for performing this Contract, with supporting reasons and documentation. If at any time during performance of this Contract, Princeton University has reason to believe that the cost required to perform the Work of this Contract will be substantially greater or less than the stated Not-to-Exceed Price, Princeton University will so advise the Contractor, giving the then- revised estimate of the total amount of effort to be required under the Contract.

  • Estimated Cost Estimated costs by construction phases for Specified Roads listed in A7 are stated by segments in the Schedule of Items. Such estimated costs are subject to adjustment under B3.3, B5.2, B5.21, B5.212, B5.25, and B5.26. Appropriately adjusted costs shall be made a part of a revised Schedule of Items and shown as adjustments to Timber Sale Account. The revised Schedule of Items shall supersede any prior Schedule of Items when it is dated and signed by Contracting Officer and a copy is furnished to Purchaser.

  • Excess Amount The excess of the Participant's Annual Additions for the Limitation Year over the Maximum Permissible Amount.

  • Excess Contributions An excess contribution is any amount that is contributed to your IRA that exceeds the amount that you are eligible to contribute. If the excess is not corrected timely, an additional penalty tax of six percent will be imposed upon the excess amount. The procedure for correcting an excess is determined by the timeliness of the correction as identified below.