Contingency Line Item definition

Contingency Line Item means the Line Item in each Construction Budget identified as "contingency" that is intended to cover the eventuality of unforeseen Project Costs for the relevant Plant.

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Contingency Line Item is defined in Section 3.9.

Contingency Line Item shall have the meaning set forth in Section 3.10(a).

Examples of Contingency Line Item in a sentence

• In no event may the Contingency Line Item of the Building Loan Budget be reallocated to any Line Item in the Project Loan Budget.

• Provided no Event of Default exists and with Lender’s consent (which shall not be unreasonably withheld), after Completion of the Improvements, Borrower may draw amounts available under the Contingency Line Item of the Project Loan Budget to fund Shortfalls in monthly interest due, which amounts shall be deposited in the Interest Reserve.

• The Contingency Line Item in the Building Loan Budget for Hard Costs shall contain at least five percent (5%) of the total projected Hard Costs, separate from the Contingency Line Items in the Project Loan Budget.

• Borrower may from time to time request that portions of the Contingency Line Item be reallocated to other Line Items.

• Borrower or Manager, after notice to and approval by Lender, which shall not be unreasonably withheld or delayed, may reallocate to any Line Item the amount of any portion of the Contingency Line Item which has not previously been reallocated to any other Line Item.

• To the extent that the Contingency Line Item is not reallocated pursuant to this Section 3.6(b), it shall be used solely for Hard Costs of a type not included in any Line Item in the Budget and not contemplated by the original Plans.

• Lender will not be required to make Advances in excess of the amount of any Line Item in the Budget unless Cost Savings from other Line Items or portions of the Contingency Line Item have previously been reallocated in accordance with Section 3.6, or Equity Payments have been contributed by Borrower or Manager with respect, to such Line Item, in amounts equal to or greater than such excess over the Budget.

• Lender shall not unreasonably withhold such approval for the reallocation of (i) up to the first fifty percent (50%) of the Contingency Line Item, or (ii) any amounts of the Contingency Line Item which will not cause the percentage of the Contingency Line Item utilized through such date to exceed the percentage of the Budget expended through such date, but may withhold such approval in its discretion for any other reallocation.

• The Approved Budget shall contain a Contingency Line Item equal to a minimum of six and one-half percent (6.5%) of the unpaid Hard Costs to Complete the Project as of the date hereof and five percent (5.0%) of unpaid Soft Costs to Complete the Project as of the date hereof.

• For Change Orders (Cost Code 0102) and Contingency Items (Cost Code 0106) enter the approved DCAMM Log Number in format NNN-NNN against each Change Order or Contingency Line Item.

More Definitions of Contingency Line Item

Contingency Line Item means the line item in the Budget identified as “Contingency” which is intended to cover the eventuality of unforeseen costs or cost overruns. Upon any such reallocation of all or any portion of any such Cost Savings to any line item in the Budget, the amount of such Cost Savings shall no longer be deemed “Cost Savings” hereunder, but shall be deemed to be part of the line item in the Budget to which such amount was reallocated.

Contingency Line Item shall have the meaning assigned to such term in the Mortgage Loan Agreement.

Contingency Line Item has the meaning ascribed to such term in the Master Loan Agreement.

Contingency Line Item means the Line Item in the Budget identified as "Contingency", which is intended to cover the eventuality of unforeseen Costs or cost overruns.

Contingency Line Item is defined in Section 6.4(f)(i).