Supervision Cost definition
Supervision Cost means, in relation to each Newbuilding, One million five hundred and fifty thousand Dollars ($1,550,000) or such other lesser sum in Dollars as may be payable by the relevant Newbuilding Owner to Iota pursuant to the Supervision Contract relevant to such Newbuilding, as the cost for the services provided by Iota thereunder and “Supervision Costs” means any or all of them;
Examples of Supervision Cost in a sentence
The Fixed A/E Services Cost, Fixed Supervision Cost, Fixed General Conditions Cost and Fixed Fee for each Phase of the Work, as specified in Section 13.1.1.1 or in subsequent GMP Amendments, shall be paid to the Design/Builder in monthly installments.