Permissible Cost Overrun definition

Permissible Cost Overrun means, with respect to any clinical trial or other development work, a Cost Overrun (i) that either (A) does not exceed 10% of the budgeted costs and expenses set forth in the Development Plan for such clinical trial or other development work for the applicable Calendar Year or (B) was outside the reasonable control of the Responsible Party with respect to such clinical trial or other development work and not attributable to a failure by such Responsible Party to use Commercially Reasonable Efforts or did not result from the failure of such Responsible Party to adequately supervise a Third Party performing such clinical trial or other development work or from other negligence on the part of such Responsible Party with respect to such clinical trial or other development work and (ii) of which the Responsible Party with respect thereto promptly notifies the other Party and uses reasonable efforts to mitigate the size of such Cost Overrun. If and to the extent a Party experiences a Permissible Cost Overrun with respect to any clinical trials or other development work for which it is the Responsible Party, the Parties shall share such Permissible Cost Overrun in the same proportion as the Parties share Development Expenses under the applicable Development Plan. To the extent that any Cost Overrun is not a Permissible Cost Overrun, such Cost Overrun shall be solely borne by the Responsible Party with respect to such clinical trial or other development work. If there is a dispute as to whether any Cost Overrun (X) is attributable to a Party or (Y) represents a Permissible Cost Overrun, then at the election of either Party, such dispute shall be submitted to the JDC for resolution pursuant to Section 4.4(b).
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Permissible Cost Overrun means, with respect to any clinical trial or other development work, a Cost Overrun (i) that either
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Permissible Cost Overrun has the meaning set forth in Section 3.6(c)(ii).
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Examples of Permissible Cost Overrun in a sentence

  • If there is a dispute as to whether any Cost Overrun (X) is attributable to a Party or (Y) represents a Permissible Cost Overrun, then at the election of either Party, such dispute shall be submitted to the JDC for resolution pursuant to Section 4.4(b).

  • If and to the extent a Party experiences a Permissible Cost Overrun with respect to any clinical trials or other development work for which it is the Responsible Party, the Parties shall share such Permissible Cost Overrun in the same proportion as the Parties share Development Expenses under the applicable Development Plan.

  • To the extent that any Cost Overrun is not a Permissible Cost Overrun, such Cost Overrun shall be solely borne by the Responsible Party with respect to such clinical trial or other development work.

Related to Permissible Cost Overrun

  • Cost Overrun means an obligation exceeding the maxi- mum capital expenditure authorized by an approval.

  • Allowable Cost means a cost that complies with all legal requirements that apply to a particular federal education program, including statutes, regulations, guidance, applications, and approved grant awards.

  • Total Contract Price/Project Cost/TCO means the price payable to Service Provider over the entire period of Contract for the full and proper performance of its contractual obligations.

  • Maximum allowable cost list means a list of drugs for

  • Total Contract Price/Project Cost/TCO means the price payable to Service Provider over the entire period of Contract for the full and proper performance of its contractual obligations.

  • The Contract Price/Project Cost means the price payable to the Vendor under the Contract for the full and proper performance of its contractual obligations.

  • Eligible Costs means the actual costs reasonably incurred by the Recipient:

  • Allowable Costs means the costs defined as allowable in 42 CFR, Chapter IV, Part 413, as amended to October 1, 2007, except for the purposes of calculating direct medical education costs, where only the reported costs of the interns and residents are allowed. Further, costs are allowable only to the extent that they relate to patient care; are reasonable, ordinary, and necessary; and are not in excess of what a prudent and cost-conscious buyer would pay for the given service or item.

  • Eligible cost means as applied to a qualified project to be financed from the federal accounts, the costs that are permitted under applicable federal laws, requirements, procedures, and guidelines in regard to establishing, operating, and providing assistance from the bank. As applied to a qualified project to be financed from the state highway account, these costs include the costs of preliminary engineering, traffic and revenue studies, environmental studies, right‑of‑way acquisition, legal and financial services associated with the development of the qualified project, construction, construction management, facilities, and other costs necessary for the qualified project. As applied to any qualified project to be financed from the state transit account, eligible project costs are limited to capital expenditures for transit equipment and facilities.

  • Maximum allowable cost means the maximum amount that a pharmacy benefit manager will reimburse a pharmacy for the cost of a drug.

  • Estimated Project Cost means Benchmark cost of MNRE which is Rs 8.00 Crore/MWp as per MNRE letter no. 03/20/2014-15/GCRT/11.12.14 at the time of Bid Due date.

  • Project Cost means the price payable to Service Provider over the entire period of Agreement (i.e. Rs. <in words>) for the full and proper performance of its contractual obligations.

  • Ineligible Costs means the costs described under Part E.2 of Schedule “E” of this Agreement.

  • Deactivation Avoidable Cost Credit means the credit paid to Generation Owners pursuant to Tariff, Part V, section 114. Deactivation Avoidable Cost Rate:

  • The Contract Price/ Project Cost means the price payable to the Vendor under the Contract for the full and proper performance of its contractual obligations.

  • Subprojects means more than one such Subproject.

  • BASE budget means the minimum general fund budget of a district, which includes 80% of the basic

  • Total Project Cost means the lowest of the following:

  • Avoidable Cost Rate means a component of the Market Seller Offer Cap calculated in accordance with Tariff, Attachment DD, section 6. Balancing Congestion Charges: “Balancing Congestion Charges” shall be equal to the sum of congestion charges collected from Market Participants that are purchasing energy in the Real-time Energy Market minus [the sum of congestion charges paid to Market Participants that are selling energy in the Real-time Energy Market plus any congestion charges calculated pursuant to the Joint Operating Agreement between the Midcontinent Independent Transmission System Operator, Inc. and PJM Interconnection, L.L.C. (PJM Rate Schedule FERC No. 38), plus any congestion charges calculated pursuant to the Joint Operating Agreement Among and Between New York Independent System Operator Inc. and PJM Interconnection, L.L.C. (PJM Rate Schedule FERC No. 45), plus any congestion charges calculated pursuant to agreements between the Office of the Interconnection and other entities, plus any charges or credits calculated pursuant to Operating Agreement, Schedule 1, section 3.8, and the parallel provisions of Tariff, Attachment K-Appendix, section 3.8, as applicable)].

  • Excess Additional Book Basis has the meaning given such term in the definition of “Additional Book Basis Derivative Items.”

  • Subproject means a development activity proposed by a Beneficiary under Part A.2 (d) of the Project and financed or to be financed through a Subproject Grant (as hereinafter defined) made out of the proceeds of the Development Credit;

  • Construction Budget means the fully-budgeted costs for the acquisition and construction of a given parcel of real property (including, without limitation, the cost of acquiring such parcel of real property, reserves for construction interest and operating deficits, tenant improvements, leasing commissions, and infrastructure costs) as reasonably determined by the Parent in good faith.

  • Total Project Costs means the total amount of money required to complete the Project.

  • Required Reserve Factor Floor means, for any Calculation Period, the sum (expressed as a percentage) of (a) 12.5% plus (b) the product of the Adjusted Dilution Ratio and the Dilution Horizon Ratio, in each case, as of the most recent Cut-Off Date.

  • Project Budget means the budget and project description included in the grant application. The Project Budget must succinctly describe all major elements of project work, the estimated cost of each, and clearly allocate requested grant funding and match contributions to each.

  • Qualified Project Costs shall have the meaning given to it in the Regulatory Agreement.