Approved Construction Costs definition

Approved Construction Costs means the Construction Costs identified by line item category and dollar amount in the Approved Construction Budget, other than Costs Previously Paid.
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Approved Construction Costs means the Architect's estimate of Construction Costs approved by the Band and Great Lakes pursuant to Section 5.8.
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Approved Construction Costs means the Project Costs that are eligible for reimbursement in accordance with the terms of this Agreement.
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Examples of Approved Construction Costs in a sentence

  • The proceeds of the Loans will be disbursed in conformance with the Approved Construction Costs and Bondowner Representative’s standard policies and procedures for disbursement of construction loans.

  • The amount of the Additional Predevelopment/Construction Loan has been established based upon the Approved Construction Costs, including a maximum fee to be paid to Developer (in an amount not exceeding the maximum amount allowed under the TCAC regulations effective at the time Developer receives a Tax Credit Reservation), from Construction Funds, for development and construction management services (“Developer Fee”).

  • Borrower may from time to time request that portions of the soft cost contingency line item be reallocated to other Approved Construction Costs line items for soft costs.

  • Agency in its reasonable discretion shall determine what expenses submitted by Developer are eligible for payment or reimbursement as Approved Construction Costs.

  • Bubble Soccer USA may dismiss, without refund, anyone whose behavior endangers safety or negatively affects an event, a person, a facility or property of any type or kind.

  • Bondowner Representative will not be required to approve Disbursements for any item in an amount greater than the amount scheduled for such item in the Approved Construction Costs (except for change orders within the limits set forth in Section 7.19 below).

  • All amounts deposited in the Construction Account and the Construction Fund shall be disbursed solely to pay Approved Construction Costs or, if applicable with respect to amounts described in Sections 1.3 and 1.12 of the Deed of Trust, to repair, rebuild and restore the Project on the same terms, and subject to the same conditions, that proceeds of the Loan are to be disbursed under this Agreement.

  • The line items in the Approved Budget designated for “soft cost contingency” and “hard cost contingency” represent the amounts necessary to provide reasonable assurances to Bondowner Representative that additional funds are available to be used for hard costs or soft costs, as applicable, if the allowances for Approved Construction Costs are not sufficient or if additional unexpected costs and expenses are incurred.

  • Borrower may from time to time request that portions of the hard cost contingency line item be reallocated to other Approved Construction Costs line items for hard costs.

  • Bondowner Representative shall cause Bond Trustee to deposit all Disbursements (whether from Bond or Loan proceeds or other Funding Sources) for Approved Construction Costs into the Construction Account.


More Definitions of Approved Construction Costs

Approved Construction Costs means costs of construction of the Project which are reflected in the Approved Construction Budget and any other Construction Costs which are approved by the Agent as a part of a Draw Request or as otherwise provided in this Agreement.
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Approved Construction Costs means the hard and soft costs of constructing the Project, as shown on the Approved Budget.
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Approved Construction Costs means any Construction Costs that: (a) consistent with Good Operating Practices and applicable Law, must be incurred prior to (and cannot be delayed, consistent with Good Operating Practices and applicable Law, until after) the UPSC Approval Deadline in order to achieve Commercial Operation by the Commercial Operation Deadline; (b) Seller requests prior written approval from Purchaser to incur such Construction Costs prior to the UPSC Approval Deadline, such request to provide specific details as to the Construction Costs and the reasons Seller believes such Construction Costs must be incurred prior to the applicable UPCS Approval Deadline; and (c) Purchaser approves in writing Seller incurring such Construction Costs, such approval to be in Purchaser’s sole discretion.
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Approved Construction Costs means the costs incurred by Borrower in connection with the construction of the Construction Work and consistent with (and no more than) the anticipated costs set forth in the Approved Construction Budget.
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Approved Construction Costs means, with respect to each Proposed Motel Facility, the estimated costs, as the same may be amended from time to time, to be incurred by Motel Developer with respect to acquiring the real property and constructing the improvements thereon (including but not limited to, (i) costs for land acquisition and site improvements thereto, (ii) costs for environmental inspections, soil analysis, title insurance, permits and other predevelopment items; (iii) all hard costs, including contingency, (iv) all legal, architectural, engineering and other professional fees and disbursements, (v) all soft costs incurred in connection with the acquisition and development, (vi) $20,000 for each Approved Motel Facility representing the allocable share of all fees payable in connection with the Commitment (including, but not limited to legal and other professional fees and expenses, financing and advisory fees payable to the Lender in connection with the negotiation and execution of this Agreement), (vii) legal fees, title insurance premiums and other customary closing expenses incurred in connection with the acquisition of each Approved Motel Facility and the closing of each respective Loan and (viii) the Motel Developer Supervisory Fee, which estimated costs set forth in clauses (i) through (viii) of this definition are set forth on a budget, (and if amended, on an amended budget) submitted to and approved by the Lender, which approval will not be unreasonably withheld or delayed.
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Related to Approved Construction Costs

  • Direct Construction Cost means the sum of the amounts that the Construction Manager actually and necessarily incurs for General Conditions Costs, Cost of the Work and Construction Manager’s Contingency during the Construction Phase as allowed by this Agreement. Direct Construction Cost does not include Pre-Construction Phase Fees or Construction Phase Fees.

  • Estimated Construction Cost or “ECC” means the amount calculated by Contractor for the total cost of all elements of the Work based on this Agreement available at the time(s) that the ECC is prepared. The ECC shall be based on current market rates with reasonable allowance for overhead, profit and price escalation and shall include and consider, without limitation, all alternates and contingencies, designed and specified by A/E and the cost of labor and materials necessary for installation of Owner furnished equipment. The ECC shall include all the cost elements included in the AACC, as defined above, and shall represent Contractor’s best current estimate of the Guaranteed Maximum Price it will propose for the Project based on the information then available. The ECC shall not include Contractor’s Pre-Construction Phase Fee, A/E’s Fees, the cost of the land and rights-of-way, or any other costs that are the direct responsibility of Owner.

  • Construction Costs means land costs, all costs paid to construct and complete the Improvements, as specified on Exhibit "B" attached hereto and made a part hereof.

  • Construction Cost means and includes the cost of the entire construction of the Project, including all supervision, materials, supplies, labor, tools, equipment, transportation and/or other facilities furnished, used or consumed, without deduction on account of penalties, liquidated damages or other amounts withheld from payment to the contractor or contractors, but such cost shall not include the Consulting Engineer/Architect's fee, or other payments to the Consulting Engineer/Architect and shall not include cost of land or Rights-of-Way and Easement acquisition.

  • Erection, construction, remodeling, repairing means all types of work done on a particular building or work at the site thereof in the construction or development of the project, including without limitation, erecting, construction, remodeling, repairing, altering, painting, and decorating, the transporting of materials and supplies to or from the building or work done by the employees of the Contractor, Subcontractor, or Agent thereof, and the manufacturing or furnishing of

  • Construction project means the same as that term is defined in Section 38-1a-102.

  • Commenced Construction means (a) all of the following site preparation work is completed: ingress and egress routes exist; the site on which the project will be located is cleared and graded; there is power service to the site; footings are prepared; and foundations have been poured consistent with purchased equipment specifications and project design; or (b) the following financial commitments have been made: (i) (A) an engineering, procurement, and construction contract (“EPC”) has been executed by all parties and is effective; or (B) contracts (collectively, “EPC Equivalents”) for all of the following have been executed by all parties and is effective: (1) project engineering, (2) procurement of all major equipment, and (3) construction of the project, and (ii) the cumulative payments made by the developer under the EPC or EPC Equivalents to the counterparties to those respective agreements is equal to at least thirty (30) percent of the total costs of the EPC or EPC Equivalents.

  • New construction means, for the purposes of determining insurance rates, structures for which the "start of construction" commenced on or after the effective date of an initial FIRM or after December 31, 1974, whichever is later, and includes any subsequent improvements to such structures. For floodplain management purposes, "new construction" means structures for which the "start of construction" commenced on or after the effective date of the floodplain management regulations adopted by a community and includes any subsequent improvements to such structures.

  • Construction Debt means debt incurred to fund (a) all or a portion of a Capital Improvement, (b) interest payments (including periodic net payments under related interest rate swap agreements) and related fees on other Construction Debt or (c) distributions (including incremental Incentive Distributions) on Construction Equity.

  • Cost of Construction means the total cost to Owner of those portions of the entire Project designed or specified by the Design Professional. Cost of Construction does not include the Design Professional's compensation and expenses and Owner's expenses associated with the Project or the cost of other services to be provided by others to the Owner.

  • Project Costs means all allowable costs, as set forth in the applicable Federal cost principles, incurred by a recipient and the value of the contribu- tions made by third parties in accom- plishing the objectives of the award during the project period.

  • Residential construction means construction on single-family or two-family dwellings occupied or used, or intended to be occupied or used, primarily for residential purposes, and includes real property pursuant to chapter 499B.

  • Acquisition Costs means all fees, costs, expenses, stamp, registration or transfer Taxes incurred by the Group in connection with the Acquisition.

  • Construction Fee means a fee or other remuneration for acting as general contractor and/or construction manager to construct improvements, supervise and coordinate projects or provide major repairs or rehabilitations on a Property.

  • Existing construction means any structure for which the "start of construction" commenced before the effective date of the initial floodplain management code or ordinance adopted by the community as a basis for that community's participation in the NFIP.

  • Construction Budget means the fully-budgeted costs for the acquisition and construction of a given parcel of real property (including, without limitation, the cost of acquiring such parcel of real property, reserves for construction interest and operating deficits, tenant improvements, leasing commissions, and infrastructure costs) as reasonably determined by the Parent in good faith.

  • Building construction means any physical activity on the site involved in the erection of a structure, cladding, external finish, formwork, fixture, fitting of service installation and the unloading of plant, machinery, materials or the like.

  • Construction Plant means appliances, machinery with necessary supply to up keep and maintenance of the works or temporary works but dose not include materials or other things intended to form part of the permanent work.

  • Original Project Cost means the capital expenditure incurred by the Generating Company or the Transmission Licensee, as the case may be, within the original scope of the project up to the cut-off date as admitted by the Commission;

  • Commence Construction means that an owner or operator has either undertaken a continuous program of construction or has entered into a contractual obligation to undertake and complete, within a reasonable time, a continuous program of construction.

  • Eligible Project Costs means such portion of the Project costs disbursed and loaned from the OPWC to the Recipient for the sole and express purpose of acquiring, constructing, reconstructing, expanding, improving, engineering and equipping the Project, other direct expenses, and related financing costs thereto.

  • Acquisition Cost means the cost to acquire a tangible capital asset including the purchase price of the asset and costs necessary to prepare the asset for use. Costs necessary to prepare the asset for use include the cost of placing the asset in location and bringing the asset to a condition necessary for normal or expected use.

  • construction site means a workplace where construction work is being performed;

  • Original construction ’ shall mean the first or initial construction

  • Sub-project means a specific development project to be carried out by a Beneficiary utilizing the proceeds of a Sub-loan;

  • Production Costs means those costs and expenditures incurred in carrying out Production Operations as classified and defined in Section 2 of the Accounting Procedure and allowed to be recovered in terms of Section 3 thereof.