Upset Limit definition
Examples of Upset Limit in a sentence
Lead consultant must indicate the present workload either as a Prime Consultant or a Sub-Consultant with the Delaware Department of Transportation by Location, Agreement No. (to include Supplementals), Total Dollar Upset Limit, total paid-to-date, and the amount still available for use on the project(s).
A variety of reimbursement payment methods may be used, such as Time & Materials, Upset Limit Fee or Lump Sum Fee, due to nature of the work task order.
The total amount payable by BE, including BE’s contribution to Pre-Development Costs, construction period Milestone Payments, and repayment of the CPP (assuming a maximum compliant bid equal to the Upset Limit), have been sized to comply with the $850 million (NPV) BE funding commitment to the Project approved by the BE Board of Directors in August 2015.
The CPP makes up 80% of the total monthly Performance Payment payable to the Developer (escalated at 2% annually), and would equal $33 million in the first year (2017 dollars) if the winning bid were to equal the Upset Limit, or the highest possible compliant bid for the Project.
For performing the Services identified within this Scope of Services, the CITY shall pay the CONSULTANT the Upset Limit amount of $147,461.96 in accordance with Exhibit “B-B” of this contract.
NHS BLOCK 35 – TRAIL DEVELOPMENT- Upset Limit of (Capital Account #52211412) $ 43,255.00 VILLAGE SQUARE - Upset Limit of (Capital Account #52211508) $ 490,000.00 TOTAL COST OF WORKS ON BEHALF OF TOWN $ 533,255.00 Note: The Owner will be reimbursed in the year(s) that the project is funded in an approved capital budget.
If the actual cost of the Project is less than the Upset Limit, the final amounts owed will be adjusted based on the percentages in articles 2B and 2C.
For performing the Services identified within this Scope of Services, the CITY shall pay the CONSULTANT the Upset Limit amount of $96,537.84 in accordance with Exhibit “B-A” of this contract.
The estimated cost of the Project is $ (“Upset Limit.”) Project costs eligible for federal financial participation shall not exceed this Upset Limit without MaineDOT’s written approval, through an executed modification to this Agreement.
The Municipality shall be fully responsible for all costs exceeding the Upset Limit of this Agreement, incurred before the date of notice to proceed, and deemed ineligible for federal financial participation.