Overruns. In the event that the total cost of a funded project exceeds the estimate of costs upon which this Agreement is made, LOCAL AGENCY may request additional funds to cover the Agreement share of the amount exceeded. However, there is no assurance that any such funds are, or may be, available for reimbursement. Any increase in funding will require an amendment.
Overruns. Each Party will promptly notify the other Party upon becoming aware that the anticipated Costs to be incurred by such Party for a given calendar year will be in excess of the applicable Development Budget, Operations Budget or Commercialization Budget. Unless otherwise agreed by the Parties in advance, in writing, Costs reported by a Party pursuant to Section 7.2.1 (Partner Costs) or 7.2.2 (Amgen Costs) incurred with respect to a Product in excess of [*] percent ([*]%) of the aggregate amounts budgeted to be incurred by or on behalf of such Party for its activities for such Product in such calendar year in the then-current applicable Development Budget, Operations Budget or Commercialization Budget, respectively, will not be included in the calculation of profit (or loss) pursuant to Section 7.2.8 (Calculation of Profit (or Loss)); provided, that such Partner Costs and Amgen Costs in excess of such amount will be included in the calculation of profit (or loss) pursuant to Section 7.2.8 (Calculation of Profit (or Loss)) (A) to the extent such Costs were attributable to: (i) a change in Applicable Law; (ii) a Force Majeure event; [*].
Overruns. The parties acknowledge that the Funding in clause 2.1 is the total amount available from the Ministry for the Project, and that the Recipient will be liable for all cost overruns in relation to the delivery of the Project. The Ministry will not be liable for any cost overruns. The Recipient will carefully monitor the likelihood of cost overruns through its budgeting and reporting process, and will notify the Ministry as soon as it is aware of that there is a high likelihood that Project costs will exceed the total Funding available under this Agreement. The parties will consult on a solution.
Overruns. Grantor shall notify Grantee within thirty (30) days after the end of any Contract Year in which deliveries to Grantee’s Customers overrun the current ACQ (“ACQ Overrun”). Grantee shall have thirty (30) days from the date of the notice to elect to (x) acquire an additional increment of capacity or (y) pay Grantor for ACQ Overrun as follows: (1) for ACQ Overrun up to 5% of ACQ, Grantee shall pay 80 cents per Mcf; and (2) for ACQ Overrun in excess of 5% of ACQ, Grantee shall pay the Sales Rate in effect for the Contract Year in which such ACQ Overrun occurred. For purposes of the foregoing calculation Committed ACQs and related actual volumes associated with Expansion Load shall be excluded.
Overruns. You hereby agree that if the duration of an event runs over the stated finish time by more than 30 minutes, you shall, at our discretion, pay to us a surcharge that will not exceed 10% of the event/function price for our continued service, per each extra hour or any part thereof, over and above this time;
Overruns. Each Party shall notify the other Party promptly upon becoming aware that the anticipated Development Costs to be incurred by such Party under a particular Collaboration Plan or Development Plan for a given Calendar Year shall be in excess of the applicable approved Collaboration Budget or Development Budget. Thereafter, the following shall apply:
Overruns. The following Overrun Allowances shall apply only to Work Orders/Authorizations for Expenditure (“WO/AFE”) for facilities that are wholly-owned by Owner. For any WO/AFE for facilities under joint ownership with a third party, Operator shall be solely responsible for any overruns that are not approved in writing by Owner in advance. Commencing January 1, 2011, for any capital project less than or equal to $166,666, Operator may not exceed the aggregate of all WO/AFEs for such capital project by more than $25,000 (such excess amount shall be referred to herein as the “Overrun Allowance”). For any capital project greater than $166,666 but less than $3,333,333, the Overrun Allowance shall be 15% of the aggregate of all WO/AFEs for such project. For any capital project greater than $3,333,333, the Overrun Allowance shall be $500,000. Upon knowledge by Operator that the projected and/or actual costs of implementing any item in the Annual Capital Budget is likely to exceed the Overrun Allowance, Operator shall immediately notify Owner verbally of such event followed with a written WO/AFE revision on or before seven days after the verbal notice. Operator shall provide Owner with the information necessary to allow Owner to make a decision to proceed or cancel the implementation of such capital item. Upon receipt of such notification and information, Owner shall promptly decide to proceed or cancel the implementation of the capital item and notify Operator of its decision verbally or in writing. If Owner decides to proceed with the implementation of such item, Owner and Operator shall evidence the agreed upon overrun expense by way of a WO/AFE revision signed by the parties. Notwithstanding anything to the contrary herein, Owner shall reimburse Operator for any liabilities, costs and expenses reasonably incurred by Operator in connection with the implementation of such item, even if incurred before Owner notifies Operator of its decision.
Overruns. Each Party shall use Diligent Efforts to conduct the Development Plan for each Licensed Product within the applicable Development Budget. Each Party will promptly notify the other Party upon becoming aware that the anticipated Development Costs to be incurred by such Party for a given calendar year are likely to be in excess of the applicable portion of the Development Budget for that calendar year as set out in the relevant Development Plan. If during any calendar year, actual expenses exceed the Development Budget for such calendar year by [***], the Parties shall share such overspend equally. Development Costs reported by a Party pursuant to Section 6,3 incurred with respect to a Development Plan in excess of [***] of the aggregate amounts budgeted to be incurred by, or on behalf of, such Party for its activities under such Development Plan in such calendar year in the then-current applicable Development Budget shall be deemed “Excess Costs” and shall be treated as described in this Section 6.6.