Contingency Costs definition

Contingency Costs means those items of Cost of the Work attributable to a contingency for which the Owner is responsible and which are payable by the Owner to the Design/Builder pursuant to a Change Order as provided in Article 6.
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Contingency Costs means those reasonable costs actually incurred incident to the performance of Work under this Agreement and prior to Project Completion of the Project, which are not reimbursable as a Cost of the Work, are not attributable to Willbros’ negligence, willful misconduct or breach of this Agreement, are not recoverable from Subcontractors, Vendors or insurers, and for which records required hereunder exist and are contemporaneously prepared and maintained (“Contingency Costs”).
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Contingency Costs means unforeseen costs or situations not included in the estimate of project costs.
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Examples of Contingency Costs in a sentence

  • Maintain cost accounting records on items of Actual Cost and Contingency Costs, including authorized Work performed under unit costs, Actual Costs and Contingency Costs for labor and materials, and other bases requiring accounting records.

  • Estimated Costs and Contingency Costs components of the Change Order sums of Component Changes Orders shall be cumulative so that the aggregate of the Estimated Costs and Contingency Costs components of all Component Change Orders that are outstanding at any time shall be available for payment to Design-Builder for Actual Costs and Contingency Costs incurred by Design-Builder in the performance of any Work governed by the aggregate of such Component Change Orders outstanding.

  • Estimated Costs and Contingency Costs components of the Change Order sums of Component Changes Orders shall be cumulative so that the aggregate of the Estimated Costs and Contingency Costs components of all Component Change Orders that are outstanding at any time shall be available for payment to CM/GC for Actual Costs and Contingency Costs incurred by CM/GC in the performance of any Work governed by the aggregate of such Component Change Orders outstanding.

  • CM/GC shall in good faith negotiate with Owner for the release of any surplus of Construction Contingency over such anticipated Construction Contingency Costs so as to permit Owner to enhance the Project.

  • Additionally, the Design-Builder shall periodically review its accrued and anticipated Construction Contingency Costs and shall promptly inform Owner of Design-Builder's determination of the extent to which the remaining Construction Contingency exceeds Design-Builder's reasonably anticipated Construction Contingency Costs expected to be incurred prior to the issuance of a Final Certificate.

  • Design-Builder shall in good faith negotiate with Owner for the release of any surplus of Construction Contingency over such anticipated Construction Contingency Costs so as to permit Owner to enhance the Project.

  • Additionally, the CM/GC shall periodically review its accrued and anticipated Construction Contingency Costs and shall promptly inform Owner of CM/GC's determination of the extent to which the remaining Construction Contingency exceeds CM/GC's reasonably anticipated Construction Contingency Costs expected to be incurred prior to the issuance of a Final Certificate.

  • Contingency Costs: Please describe contingency costs, if applicable, and any plans for managing them.

  • If management costs are being requested, see part G.• Contingency Costs need to be justified and reported as a separate line item in part E of this section.

  • Contingency Costs are costs incurred by CM/GC that are payable from the Contingency Fund as provided in this Section, but payment of such costs shall not exceed the GMP Cost Category associated with the Contingency Fund.


More Definitions of Contingency Costs

Contingency Costs means unforeseen costs or situations which are not included in the estimate of project costs and shall not exceed 10 percent of the estimated eligible construction cost to the nearest dollar for which a grant is made under the act. Upon receipt of bids, the contingency costs shall be reduced to notmore than five percent of the actual eligible construction costs as bid.
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Contingency Costs means a general contingency on account of cost overruns over and above the Budgeted Costs [forecasted at a rate of 10% of the price (calculated before HST) set out in the accepted proposal(s) from the consultants engaged for the EA Process.]
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Contingency Costs means those items of Contract Price attributable to a contingency, if any.
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Contingency Costs means those items of Cost of the Work attributable to a contingency for which CITY is responsible and which are payable by CITY to CONTRACTOR pursuant to a Change Order as provided in Article 6.
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Contingency Costs means any amount of money budgeted for any unforeseen activities; "debris" means any loose fragments or material;
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Contingency Costs means, collectively, (i) for any item or category identified in the Construction Budget, an amount equal to the excess of (A) the actual cost of such item or category to the Borrower over (B) the cost of such item or category set forth in the Construction Budget and (ii) for any cost incurred by the Borrower prior to the Maturity Date to construct and finance the construction of the Project which is not accounted for in the Construction Budget, the actual amount of such cost incurred by the Borrower.
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Related to Contingency Costs

  • Related Expenses means any and all costs, liabilities, and expenses (including, without limitation, losses, damages, penalties, claims, actions, reasonable attorney's fees, legal expenses, judgments, suits and disbursements) reasonably incurred by, or imposed upon, or asserted against, Lender in any attempt by Lender:

  • Reimbursable Costs means expenses incurred by the employee in the course of engaging in the planned learning activity and include registration, tuition and examination fees as well as textbooks/discs and applicable taxes. They may also include reasonable, incremental meal, accommodation and travel expenses.

  • Direct Costs means the sum of the following:

  • Allocable Costs means costs allocable to a particular cost objective if the goods or services involved are chargeable or assignable to such cost objective in accordance with relative benefits received or other equitable relationship. Costs allocable to a specific Program may not be shifted to other Programs in order to meet deficiencies caused by overruns or other fund considerations, to avoid restrictions imposed by law or by the terms of this Agreement, or for other reasons of convenience.

  • Lenders’ Expenses are all audit fees and expenses, costs, and expenses (including reasonable attorneys’ fees and expenses, as well as appraisal fees, fees incurred on account of lien searches, inspection fees, and filing fees) for preparing, amending, negotiating, administering, defending and enforcing the Loan Documents (including, without limitation, those incurred in connection with appeals or Insolvency Proceedings) or otherwise incurred by Collateral Agent and/or the Lenders in connection with the Loan Documents.

  • Costs of the Project means Recipient’s actual costs (including any financing costs properly allocable to the Project) that are (a) reasonable, necessary and directly related to the Project, (b) permitted by generally accepted accounting principles to be Costs of the Project, and (c) are eligible or permitted uses of the Financing Proceeds under applicable state or federal statute and rule.

  • Company Reimbursable Costs means the actual costs and expenses incurred by Company and/or its Affiliates in connection with performance of the Company Work or otherwise incurred by Company and/or its Affiliates in connection with this Agreement, and including, without limitation, any such costs that may have been incurred by Company and/or its Affiliates in connection with the Company Work or this Agreement prior to the Effective Date. These Company Reimbursable Costs shall include, without limitation, the actual expenses for labor (including, without limitation, internal labor), services, materials, subcontracts, equipment or other expenses incurred in the execution of the Company Work, all applicable overhead, overtime costs, all federal, state and local taxes incurred (including, without limitation, all taxes arising from amounts paid to Company that are deemed to be contributions in aid of construction), all costs of outside experts, consultants, counsel and contractors, all other third-party fees and costs, and all costs of obtaining any required permits, rights, consents, releases, approvals, or authorizations acquired by or on behalf of Company, including, without limitation, the Required Approvals.

  • Administrative Costs means all costs and expenses associated with providing notice of the Settlement to the Settlement Class and otherwise administering or carrying out the terms of the Settlement. Such costs may include, without limitation: escrow agent costs, the costs of publishing the summary notice, the costs of printing and mailing the Notice and Proof of Claim, as directed by the Court, and the costs of allocating and distributing the Net Settlement Fund to the Authorized Claimants. Such costs do not include legal fees.

  • Initial Costs means all costs incurred by the Authority relating to the establishment and initial operation of the Authority, such as the hiring of an Executive Director and any administrative staff, any required accounting, administrative, technical and legal services in support of the Authority’s initial activities or in support of the negotiation, preparation and approval of one or more Administrative Services Provider Agreements and Program Agreement 1. Administrative and operational costs incurred after the approval of Program Agreement 1 shall not be considered Initial Costs.

  • Reimbursable item also means “allowable cost” and “compensable item.”

  • Total Costs means the sum of all direct and indirect costs associated with the purchase of the goods incurred by CPUT, including but not limited to the invoice price, goods life, service costs, distribution costs, transaction costs, inventory costs, purchasing administration costs and other costs incurred with the use of the goods provided by the Bidder.

  • Advance Reimbursement Amounts As defined in Section 3.29 hereof.

  • Liquidity Expenses means all Liquidity Obligations other than (i) the principal amount of any Drawings under the Liquidity Facilities and (ii) any interest accrued on any Liquidity Obligations.

  • CP Costs means, for each day, the sum of (i) discount or yield accrued on Pooled Commercial Paper on such day, plus (ii) any and all accrued commissions in respect of placement agents and Commercial Paper dealers, and issuing and paying agent fees incurred, in respect of such Pooled Commercial Paper for such day, plus (iii) other costs associated with funding small or odd-lot amounts with respect to all receivable purchase facilities which are funded by Pooled Commercial Paper for such day, minus (iv) any accrual of income net of expenses received on such day from investment of collections received under all receivable purchase facilities funded substantially with Pooled Commercial Paper, minus (v) any payment received on such day net of expenses in respect of Broken Funding Costs related to the prepayment of any Purchaser Interest of Conduit pursuant to the terms of any receivable purchase facilities funded substantially with Pooled Commercial Paper. In addition to the foregoing costs, if Seller shall request any Incremental Purchase during any period of time determined by the Agent in its sole discretion to result in incrementally higher CP Costs applicable to such Incremental Purchase, the Capital associated with any such Incremental Purchase shall, during such period, be deemed to be funded by Conduit in a special pool (which may include capital associated with other receivable purchase facilities) for purposes of determining such additional CP Costs applicable only to such special pool and charged each day during such period against such Capital.

  • Capitalization Reimbursement Amount As to any Distribution Date, the amount of Advances or Servicing Advances that were added to the Stated Principal Balance of the related Mortgage Loans during the prior calendar month and reimbursed to the Master Servicer or Subservicer on or prior to such Distribution Date pursuant to Section 3.10(a)(vii), plus the Capitalization Reimbursement Shortfall Amount remaining unreimbursed from any prior Distribution Date and reimbursed to the Master Servicer or Subservicer on or prior to such Distribution Date.

  • Additional Costs has the meaning given that term in Section 4.1.

  • Basic Costs means all direct and indirect costs and expenses incurred in connection with the Building as more fully defined in Exhibit C attached hereto.

  • Closing Costs means, collectively, all initial costs and fees that identified above and in Section 16 that Seller agrees to pay to Buyer as consideration for agreeing to enter into this Agreement.

  • Capital Expenses expenses that are capital in nature or required under GAAP to be capitalized.

  • Qualified Costs means an electric utility's regulatory assets as determined by the commission, adjusted by the applicable portion of related investment tax credits, plus any costs that the commission determines that the electric utility would be unlikely to collect in a competitive market, including, but not limited to, retail open access implementation costs and the costs of a commission approved restructuring, buyout or buy-down of a power purchase contract, together with the costs of issuing, supporting, and servicing securitization bonds and any costs of retiring and refunding the electric utility's existing debt and equity securities in connection with the issuance of securitization bonds. Qualified costs include taxes related to the recovery of securitization charges.

  • Financing Costs means for each calendar day the product of:

  • Cleanup costs means expenses (including but not limited to legal and professional fees) incurred in testing for, monitoring, cleaning up, removing, containing, treating, neutralizing, detoxifying or assessing the effects of Pollutants.

  • 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.

  • Incremental Costs means all reasonable additional costs properly and reasonably incurred by Network Rail in respect of any modification referred to in paragraph 2.8, being the additional reasonable costs (if any) to Network Rail in respect of its obligation to maintain and operate the Network, but excluding:

  • Operational Expenses means expenses of the clerk of court used to maintain the clerk's office and includes, but is not limited to, (i) computer support, maintenance, enhancements, upgrades, and replacements and office automation and information technology equipment, including software and conversion services; (ii) preserving, maintaining, and enhancing court records, including, but not limited to, the costs of repairs, maintenance, consulting services, service contracts, redaction of social security numbers from certain records, and system replacements or upgrades; and (iii) improving public access to records maintained by the clerk, including locating technology in an offsite facility for such purposes or for implementation of a disaster recovery plan.

  • Allocable Overhead means costs incurred by a Party or for its account that are attributable to a Party's facilities and occupancy costs, corporate bonus (to the extent not charged directly to a department), and its supervisory, payroll, information systems, human relations and purchasing functions and that are allocated to company departments based on space occupied or headcount or other activity-based method. Allocable Overhead shall not include any costs attributable to general corporate activities, including, by way of example, executive management, investor relations, business development, legal affairs and finance.