Budget definition
Examples of Budget in a sentence
EPCM shall, throughout the Term of this Agreement, actively monitor its progress, incurred costs, and hours charged by Direct Personnel in comparison to the EPCM Baseline Schedule and Control Budget.
If the Change causes an increase or decrease in the costs or time required to perform the Services, the Control Budget and EPCM Baseline Schedule shall be adjusted by a reasonable amount as agreed between the Parties.
Such notice shall state the cause or reason for such Trend Alert and quantify any estimated impact to the EPCM Baseline Schedule or Control Budget.
When EPCM believes any other Change (including but not limited to a Change in Applicable Law) has occurred, EPCM shall notify Owner in writing and provide the details of the expected impact (if any) of the Change to the Control Budget, the EPCM Baseline Schedule, the Works, and the Process Guarantee.
The Company shall operate in accordance with the then approved Budget until a revised Budget is approved by the Board.