Construction Budget definition

Construction Budget means the fully budgeted costs for the acquisition and construction of a given piece of Property (including without limitation, the cost of acquiring such piece of Property (except to the extent any portion thereof is Unimproved Land), reserves for construction interest and operating deficits, tenant improvements, leasing commissions, and infrastructure costs), as reasonably determined by the Borrower in good faith.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Construction Budget means the cost of acquisition, installation, testing, constructing and developing any Property as determined by the Construction Agent in its reasonable, good faith judgment.

Construction Budget means University's written statement of funds available to pay for the cost of construction.

Examples of Construction Budget in a sentence

Notwithstanding anything in the Loan Documents to the contrary, Lender will not make any Advance or authorize any Advance that exceeds the Borrower's cost with respect to the particular line item in the Construction Budget.
Each Borrower shall promptly deliver to Administrative Agent a copy of any revisions to the Construction Budget effected without the consent of Administrative Agent pursuant to this Section 8.22.
All utility services necessary for the Project, and the use and operation thereof for its intended purpose, including electricity and water, are available or will be available as needed at the boundaries of the Site upon commercially reasonable terms consistent with the Construction Budget.
Subject to Section 5.08 and the other terms and conditions hereof, the Lender shall undertake to make Advances from time to time for payment of construction costs of the Project and other development costs, all as described in the Construction Budget, as such construction is completed and as the other development costs all are incurred as the Lender or its Lender Engineer shall determine.
If the estimated interest amount budgeted in the Construction Budget is exhausted, or if the Lender determines, in its sole discretion, that the estimated interest amount budgeted in the Construction Budget will be insufficient to pay in full the then due and payable monthly interest installment or any portion thereof, then upon five (5) Business Days written notice from the Lender, the Borrower shall commence the payment of monthly interest installments in the amount that will eliminate the shortfall.

More Definitions of Construction Budget

Construction Budget means the fully-budgeted costs for the acquisition and construction of a given piece of real property (including without limitation, the cost of acquiring such piece of real property (except to the extent any portion thereof is Unimproved Land included in the immediately following clause (iv)), reserves for construction interest and operating deficits, tenant improvements, leasing commissions, and infrastructure costs), as reasonably determined by the Borrower in good faith and (y) real property under construction to be (but not yet) acquired by the Borrower or a Subsidiary upon completion of construction pursuant to a contract in which the seller of such real property is required to complete construction prior to, and as a condition precedent to, such acquisition, shall be subject to this subsection;

Construction Budget means the budget available for total Construction Cost, determined or approved in writing by the City; provided that, as at the time of signing this Agreement, the Construction Budget (the “preliminary Construction Budget”) is as set out in Schedule C.

Construction Budget means the budget amount established by the District, representing the maximum authorized cost for construction of the Project. The Construction Budget does not include fees for professional architectural and engineering services, District inspection, or testing and inspection services.

Construction Budget is defined in Section 2.4 of the Construction Agency Agreement.

Construction Budget means that portion of the 'Project Budget' applicable to a Construction Contract;

Construction Budget means the amount of money that the District has allocated for all construction.

Construction Budget means that amount which is announced after the deadline for the receipt of bids, but prior to the opening of bids.