Interim Project Plan definition
Examples of Interim Project Plan in a sentence
During the Interim Project Planning Period you may use the funding for the purposes of carrying out activities in accordance with the Interim Project Plan.
This should include an assessment of the risk management strategy for the period • A short description of progress against the Milestones set out in the relevant Interim or Final Project Plan or Annual Business Plan, including discussion of agreed Milestones not fully met and explanation • A Milestone Report • Reporting for the first year will be against the Interim Project Plan.
The Members acknowledge that Sponsor has, prior to the date of this Agreement, expended certain costs with respect to the Company and the Property pursuant to the Interim Project Plan, in the amounts shown on Exhibit B and that Sponsor shall receive a credit toward the Capital Contribution required to be made by him pursuant to this Agreement in the amounts set forth on Exhibit B, and any other Development Costs paid by Sponsor after the date hereof pursuant to the Interim Development Plan.
If Investor shall approve such plan, then such plans shall constitute the “Final Project Plan” and shall supersede the Interim Project Plan and, from and after the date on which the Property is contributed to the Company pursuant to Section 6.1(a) (ii), Sponsor shall make cash Capital Contributions to the Company in such amounts and at such times as shall be provided in the Final Project Plan.
The EIF Funding may be applied to the Project elements as described in the Interim Project Plan at Attachment A.
Subject to the foregoing standard, and the terms and conditions of this Agreement, Manager shall (i) manage and control the affairs of the Company and carry out the business of the Company, and (ii) execute the Interim Project Plan and the Final Project Plan.
If Investor fails to approve such updated Project Plan within the 30-day period following Investor’ receipt of such updated plan and Manager’s notice requesting such approval, Investor shall have no obligation to make any capital contributions to the Company, whether pursuant to the Interim Project Plan or otherwise.
This initial Project construction budget shall constitute the initial “Interim Project Plan.” Following execution of this Agreement, and until contribution of the Property by Investor pursuant to Section 6.1(a)(ii), Sponsor shall make cash Capital Contributions to the Company to fund the payment of all Development Costs when incurred pursuant to the Interim Project Plan.
Table 1: Summary of the EIF contributions to the Project (GST exclusive) 2009-10 $M 2010-11 $M 2011-12 $M 2012-13 $M TOTAL $M EIF cash contribution $23 $0 $12 $12 $47 You must ensure that all cash and in-kind contributions specified in the Interim Project Plan at Attachment A, and in the subsequent Final Project Plan are provided by each participant organisation.