Unit Construction Cost definition

Unit Construction Cost as set forth in the Unit Budget approved by Lender in its sole discretion, means, with respect to each Unit, the sum of (i) the “hard costs” associated with the construction of the Unit, (ii) the “soft costs” associated with the construction of the Unit, including property taxes, appraisal costs, architects and engineers fees, entitlement costs, project supervision costs and review and inspection fees, (iii) Up Front Costs, specifically approved by Lender, in it’s sole discretion and (iv) an amount approved by Lender representing the allocated financing costs with respect to such Unit.
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Unit Construction Cost means, with respect to each Unit, the sum of (i) the “hard costs” associated with the construction of the Unit; (ii) the “soft costs” associated with the construction of the Unit, including property taxes, appraisal costs, architects, and engineers fees, entitlement costs, project supervision costs and review and inspection fees; (iii) “up-front fees” with respect to such Unit including building permit fees, tap fees and fees of Governmental Authorities which are required to be paid prior to the start of the construction of the Unit; and (iv) any amount representing the allocated financing costs and other costs with respect to such Unit (determined in accordance with GAAP). With respect to Model Homes, the Unit Construction Cost shall also include upgrades associated with the use of such Unit as a Model Home.
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Unit Construction Cost means, with respect to each Unit, the sum of (a) the “hard costs” associated with the construction of the Unit, (b) the “soft costs” associated with the construction of the Unit, including property taxes, appraisal costs, architects and engineers fees, entitlement costs, project supervision costs and review and inspection fees, (c) “up-front fees” with respect to such Unit, including building permit fees, tap fees and fees of Governmental Authorities which are required to be paid prior to the start of the construction of the Unit, and (d) an amount approved by Administrative Agent representing the allocated financing costs with respect to such Unit.
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More Definitions of Unit Construction Cost

Unit Construction Cost as set forth in the Unit Budget approved by Bank in its sole discretion, means, with respect to each Unit, the sum of (i) the “hard costs” associated with the construction of the Unit, (ii) the “soft costs” associated with the construction of the Unit, including property taxes, appraisal costs, architects and engineers fees, entitlement costs, project supervision costs and review and inspection fees, (iii) Up Front Costs, specifically approved by Bank, in its sole discretion, and (iv) an amount approved by Bank representing the allocated financing costs with respect to such Unit. In the case of Model Units, the Unit Construction Cost shall also include upgrades associated with the use of such Unit as a Model Unit.
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Related to Unit Construction Cost

  • Direct Construction Cost shall have the meaning set forth in Article 11.

  • Estimated Construction Cost or “ECC” means the amount calculated by Contractor for the total cost of all elements of the Work based on this Agreement available at the time(s) that the ECC is prepared. The ECC shall be based on current market rates with reasonable allowance for overhead, profit and price escalation and shall include and consider, without limitation, all alternates and contingencies, designed and specified by A/E and the cost of labor and materials necessary for installation of Owner furnished equipment. The ECC shall include all the cost elements included in the AACC, as defined above, and shall represent Contractor’s best current estimate of the Guaranteed Maximum Price it will propose for the Project based on the information then available. The ECC shall not include Contractor’s Pre-Construction Phase Fee, A/E’s Fees, the cost of the land and rights-of-way, or any other costs that are the direct responsibility of Owner.

  • Construction Cost means and includes the cost of the entire construction of the Project, including all supervision, materials, supplies, labor, tools, equipment, transportation and/or other facilities furnished, used or consumed, without deduction on account of penalties, liquidated damages or other amounts withheld from payment to the contractor or contractors, but such cost shall not include the Consulting Engineer/Architect's fee, or other payments to the Consulting Engineer/Architect and shall not include cost of land or Rights-of-Way and Easement acquisition.

  • Building construction means any physical activity on the site involved in the erection of a structure, cladding, external finish, formwork, fixture, fitting of service installation and the unloading of plant, machinery, materials or the like.

  • New construction means, for the purposes of determining insurance rates, structures for which the "start of construction" commenced on or after the effective date of an initial FIRM or after December 31, 1974, whichever is later, and includes any subsequent improvements to such structures. For floodplain management purposes, "new construction" means structures for which the "start of construction" commenced on or after the effective date of the floodplain management regulations adopted by a community and includes any subsequent improvements to such structures.