Cost Underrun definition

Cost Underrun means, with respect to each Authorized Improvement, the amount by which the Budgeted Cost exceeds the Cost or Actual Cost, as appropriate, of such Authorized Improvement.
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Cost Underrun is defined in Section 3.11.
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Examples of Cost Underrun in a sentence

  • To the extent Actual PNGTS Construction Costs, as defined below, are less than Estimated PNGTS Construction Costs as defined below, Shipper’s Negotiated Daily Demand Rate shall be multiplied by the Capital Cost Underrun Factor (“CCU Factor”).

  • Any confirmed Cost Underrun for any Authorized Improvement shall be available to pay Cost Overruns on any other Authorized Improvement, and may be added to the amount approved for payment in any Certification for Payment.

  • If a Cost Underrun exists after payment of all costs for all Authorized Improvements contemplated in the applicable Indenture, such unused funds will be used to pay Assessments on the Property.

  • Upon the final acceptance by City of an Authorized Improvement and payment of all outstanding invoices for such Authorized Improvement, and only if the Authorized Improvement Cost is less than the Budgeted Cost (a "Cost Underrun"), any remaining funds in the Improvement Account of the Project Fund will be available to pay Cost Overruns on any other Authorized Improvement payable from the same Assessment, and as authorized by the PID Act, with the approval of the City.

  • An individual line item exceeding its estimated cost shall not be construed as a Cost Underrun; rather, the Authorized Improvements Cost for each phase shall be viewed in its entirety.

  • Any Cost Underrun for any Authorized Improvement is available to pay Cost Overruns on any other Authorized Improvement.

  • Upon the Final Completion of an Authorized Improvement and payment of all outstanding invoices for such Authorized Improvement, if the Actual Costs of such Authorized Improvement is less than the Budgeted Cost (a "Cost Underrun"), any remaining budgeted cost, as shown in the Service and Assessment Plan, will be available to pay Cost Overruns on any other Authorized Improvement.

  • Shipper and Transporter shall share cost overruns and underruns according to the following bands: 0% - 5% 0% 100% (1 + (CCO/EPC)) 5% - 20% 50% 50% (1.05 + (((CCO/EPC)-.05)*.5)) >20% 100% 0% (1.05 + (((CCO/EPC)-.05)*.5)) 0% - 5% 0% 100% (1 - (CCU/EPC)) >5% 50% 50% (.95 - (((CCU/EPC)-.05)*.5)) 2 For purposes of the Cost Underrun Adjustment Factor formula, CCU is assumed to be a positive number.

  • Upon the final acceptance by City of an Authorized Improvement and payment of all outstanding invoices for such Authorized Improvement, and only if the Authorized Improvement Cost is less than the Budgeted Cost (a "Cost Underrun"), any remaining funds in the Improvement Account of the Project Fund will be available to pay Cost Overruns on any other Authorized Improvement.

  • Any Cost Underrun for any PID Project available to pay cost overruns on any other PID Project may be added to the amount approved for payment in any Certificate for Payment, in substantially the form attached hereto as Exhibit B, as agreed to by Owner, the Administrator and City.