Construction Cost Overrun definition

Construction Cost Overrun means, at any particular time, the amount by which Total Project Category Costs exceed Budgeted Category Costs.
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Construction Cost Overrun means with respect to each Phase, the amount by which the actual costs incurred for the Hard Cost Budget Items exceed the amount allocated for the Hard Cost Budget Items in the final Development Budget to be approved pursuant to the terms of Section 4.1(e) (after allocation to such line item of any available hard cost contingency (which shall in no event exceed 3%) or Cost Savings).
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Construction Cost Overrun means the amount by which the aggregate costs incurred for the completion of the Project exceed the aggregate amount allocated for the completion of the Project in the Development Budget. Construction Cost Overrun shall also include, but shall not be limited to, certain payments made by a guarantor with respect to the Construction Loan for guaranty obligations which survive the Completion of the Project, as set forth in Section 6.3(c).
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Examples of Construction Cost Overrun in a sentence

  • The Additional Capital Contribution obligations of SIP Member shall be separate and distinct from Construction Cost Overruns (for which SIP Member is required to make Construction Cost Overrun Contributions under Section 6.3).

  • Subject to Section 4.3(d), if, at any time, there is a Controllable Construction Cost Overrun, TNHC shall immediately reimburse the Partnership in the amount of such Controllable Construction Cost Overruns, provided that no such amount shall be treated as made in TNHC’s capacity as a Partner or as a Capital Contribution.

  • At least once not later than 90 days before the end of the evaluation period, the supervisor and employee shall meet to review the employee’s progress.

  • Except as expressly provided herein, no Member shall be entitled to (a) the return of any part of its Capital Contributions (or Construction Cost Overrun Contribution), (b) any interest in respect of any Capital Contribution (or Construction Cost Overrun Contribution), or (c) the fair market value of its Membership Interest in connection with a withdrawal from the Company or otherwise.