Cost Overruns definition

Cost Overruns. The meaning set forth in the Development Agreement.
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Cost Overruns. (a) Any Project Construction Costs and Development Costs over and above those set out in the Investment and Financing Plan;
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Cost Overruns shall have the meaning set forth in Section 12.1 of this Agreement. “County” shall have the meaning set forth in the Recitals of this Agreement.
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Examples of Cost Overruns in a sentence

  • The Authority acknowledges receipt of such evidence from StadCo and advises StadCo that such evidence is satisfactory to the Authority to establish adequate financial security for the performance of the financial obligations of StadCo for the development and construction of the Project Improvements, other than as to Cost Overruns, and that the provisions in the Act requiring such evidence have been satisfied (other than as to Cost Overruns).

  • The Authority shall not be responsible for the payment of any Cost Overruns, subject to the terms of Section 11.1 and Section 11.4 hereof.

  • StadCo shall have the sole and exclusive right to pursue all claims and receive all recoveries, damages, and penalties from contractors and sureties to the extent of any Cost Overruns paid by StadCo. To the extent of other costs paid by the Parties, each Party shall have the right to pursue claims and receive recoveries, damages, and penalties from contractors and sureties in proportion to their respective Losses.

  • If applicable, StadCo shall make contributions for deposit into the StadCo Contribution Trust Account to pay for any Cost Overruns.

  • If subsequent to payments of Cost Overruns by StadCo, Project Savings are realized, the same shall first be paid to StadCo until StadCo has recovered the amount paid by it for all prior Cost Overruns.


More Definitions of Cost Overruns

Cost Overruns means those Public Improvement Project Costs that exceed the budget cost set forth in the SAP(s) plus the Developer Cash Contribution.
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Cost Overruns shall have the meaning set forth in the Development Agreement. “County” shall have the meaning set forth in the Recitals to this Agreement. “County Bonds” shall have the meaning set forth in the Development Agreement. “Deficiency” shall have the meaning set forth in Section 3.4(f) of this Agreement.
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Cost Overruns means any amounts by which actual Total Project Costs exceed the amount of Total Project Costs that were included in the Project Budget.
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Cost Overruns means the amount of any and all construction costs for CityCenter that exceed $8,485,638,000 in the aggregate.
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Cost Overruns means any expenses incurred by Battelle that exceed the sum of the Project Plan Fixed Cost and the planned costs set forth in all associated Scope Change Orders.
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Cost Overruns means the amount, if any, by which the aggregate amount of Actual Development and Construction Costs (defined below) for the Project exceeds the aggregate amount of Budgeted Development and Construction Costs (defined below) for the Project.
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Cost Overruns as used in this Agreement shall mean the amount by which the total costs and expenses required to be paid under the Construction Agreements by StadCo for the Project Improvements Work exceeds the aggregate of the amounts on deposit in the Accounts (as defined in the Construction Funds Trust Agreement) plus the then-unused commitments in respect of each StadCo Source of Funds; provided that, Cost Overruns shall not include such excess to the extent such excess arises out of or is attributable to any Excluded Costs.
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