Project Cost Statement definition
Examples of Project Cost Statement in a sentence
If at any time during the existence of this Agreement the undisbursed balance of the Loan budget amount for any category of cost shown on the Initial Project Cost Statement is, in the Lender's sole judgment, excessive, the excess may be reallocated to any other Loan budget amount balance which is deemed by the Lender to be insufficient.
All Advances will be made in accordance with the amounts assigned to the various items in the Sworn Construction Statement and the Project Cost Statement (as amended from time to time to reflect authorized change orders), and no Advance will be made for any amount in excess of the values assigned such items in the Sworn Construction Statement and the Project Cost Statement.
Provide such additional financial and other information as the State may reasonably request, which may include annual audited financial statements, in order to enable the State to confirm (i) the Project Cost Statement referred to above, (ii) the use of funds deposited in the Project Development Account, and (iii) the payment of Dividends (as such term is defined in Section V (6) below).
Total Project Costs" shall mean being the total amount estimated by the Borrower as necessary to complete the Project, as set forth in and certified by the Borrower in the Total Project Cost Statement.
If at ------------------------------------------------- any time the undisbursed balance of the Loan Budget Amount for any category of cost shown on the Project Cost Statement (including, without limitation, "Interest on Loan") is, in Administrative Agent's judgment, excessive, the excess may be reallocated to any other Loan Budget Amount balance which Administrative Agent deems to be insufficient after consultation with or upon request of Borrower.
Except as provided in Section 3.1 and Section 6.10 (regarding Lender’s right to disburse funds), no disbursement will be made for other than Project Costs set forth in the approved Total Project Cost Statement and then, except for Minor Changes, not to exceed the Line Items set forth therein without Lender’s prior written consent.
Landlord shall also make available to Tenant supporting data and all documentation of the Landlord's statement of Total Project Cost, and Tenant shall have a period of sixty (60) days (or 90 days if Tenant performs an audit) to review and audit the Total Project Cost Statement and all data and documentation relating to Landlord's calculation of Total Project Cost.
Total Project Cost Statement" shall mean the certificate of the Borrower in which the Borrower certifies to M&I the Borrower's reasonable estimate of the total of all Hard Costs and Soft Costs necessary to complete the Project in accordance with the Drawings and Specifications.
The Borrower shall have executed and delivered to the Lender a preliminary construction statement in form and substance acceptable to the Lender duly executed by the Borrower showing (if such advance related only to land acquisition costs), in summary form the projected Hard Costs relating to such Project or (if such advance includes payment of Hard Costs other than land acquisition costs), all Hard Costs in detail relating to such Project (a "Project Cost Statement").
At the time of submission of each Draw Request, other than the final Draw Request, the Borrower shall also submit to the Lender an update of the Project Cost Statement in connection with such Project along with such other documentation and information relating to such Project as the Lender may request.