Allowance for Overhead Sample Clauses

The Allowance for Overhead clause defines the portion of contract payments that covers a contractor’s indirect costs, such as administrative expenses, utilities, and management salaries, which are not directly attributable to a specific project activity. In practice, this clause specifies either a fixed percentage or a set amount added to the direct costs of work performed, ensuring that the contractor is compensated for necessary business operations that support the project but are not directly billable. Its core function is to provide clarity and fairness in cost allocation, preventing disputes over which indirect expenses are recoverable and ensuring the contractor’s business sustainability during the project.
Allowance for Overhead. 3.1 In determining the cost for services rendered by the Service Company to Aqua as herein provided, there shall be added to the base pay rate of all officers and employees for whose services charges are to be made, a percentage sufficient to cover the overhead of Service Company, as defined below, allocable to each such officer or employee. The overhead shall be calculated each year and shall be based on the ratio of the total overhead of the Service Company for the year to the total salaries of the Service Company officers and employees for whose services charges are to be made to the Subsidiaries, including Aqua. No general overhead or other markups by the Service Company shall be added to costs incurred for services of consultants or other third parties employed by Service Company. 3.2 The term “overhead” shall include, but not be limited to: (a) building costs, lease costs, utilities, and other costs associated with office space and equipment, and (b) taxes other than payroll taxes.
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Allowance for Overhead. This is defined as costs of any kind attributable to direct and indirect delay, acceleration, or impact, added to the total cost to Owner of any change in the Contract Sum. If the Design-Builder is compensated under Section 10.6.2, the amount of such compensation shall be reduced by the amount Design-Builder is otherwise entitled to under this subsection (g). This allowance shall compensate Design-Builder for all non-craft labor, temporary construction facilities, field engineering, schedule updating, as-built drawings, home office cost, B&O taxes, office engineering, estimating costs, additional overhead because of extended time, and any other cost incidental to the change in the Work. It shall be strictly limited in all cases to a reasonable amount, mutually acceptable, or if none can be agreed upon to an amount not to exceed the rates below: (1) Design-Builder Markup on Design-Builder Work: For Design-Builder, for any Work actually performed by its own forces, 12% of the first $50,000 of the cost, and 4% of the remaining cost, if any. (2) Subcontractor Markup for Subcontractor Work: For each Subcontractor (including lower tier subcontractors), for any Work actually performed by its own forces, 12% of the first $50,000 of the cost, and 4% of the remaining cost, if any. (3) Design-Builder Markup for Subcontractor Work: For Design-Builder, for any Work performed by its Subcontractor(s), 4% of the first $50,000 of the amount due each Subcontractor, and 2% of the remaining amount if any. (4) Subcontractor Markup for Lower Tier Subcontractor Work: For each Subcontractor, for any Work performed by its Subcontractor(s) of any lower tier, 4% of the first $50,000 of the amount due the sub- Subcontractor, and 2% of the remaining amount if any.
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Allowance for Overhead. This is defined as costs of any kind attributable to direct and indirect delay, acceleration, or impact, added to the total cost to Owner of any change in the Contract Sum. If the Design-Builder is compensated under Section 10.6.2, the amount of such compensation shall be reduced by the amount Design-Builder is otherwise entitled to under this subsection (g). This allowance shall compensate Design-Builder for all non-craft labor, temporary construction facilities, field engineering, schedule updating, as-built drawings, home office cost, B&O taxes, office engineering, estimating costs, additional overhead because of extended time, and any other cost incidental to the change in the Work. It shall be strictly limited in all cases to a reasonable amount, mutually acceptable, or if none can be agreed upon to an amount not to exceed the rates below:
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Allowance for Overhead. 3.1 In determining the cost for services rendered by the Service Company to Aqua IL as herein provided, there shall be added to the base pay rate of all officers and employees for whose services charges are to be made, a percentage sufficient to cover the overhead of Service Company, as defined below, allocable to each such officer or employee. The overhead shall be calculated each year and shall be based on the ratio of the total overhead of the Service Company for the year to the total salaries of the Service Company officers and employees for whose services charges are to be made to the Subsidiaries, including Aqua IL. No general overhead or other markups by the Service Company shall be added to costs incurred for services of consultants or other third parties employed by Service Company. 3.2 The term “overhead” shall include, but not be limited to: 3.2.1 building costs, lease costs, utilities, and other costs associated with office space and equipment; and 3.2.2 taxes other than payroll taxes.
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Allowance for Overhead. This allowance shall compensate Contractor for all noncraft labor, temporary construction facilities, field engineering, schedule updating, as-built drawings, home office cost, B&O taxes, office engineering, estimating costs, additional overhead because of extended time and any other cost incidental to the change in the Work. This allowance shall be strictly limited in all cases an amount not to exceed the following: 1) For Contractor, for any Work actually performed by Contractor’s own forces, 16% of the cost. 2) For each Subcontractor (including lower tier subcontractors), for any Work actually performed by its own forces, 16% of the cost. 3) For Contractor, for any Work performed by its Subcontractor(s), 6% of the amount due each Subcontractor. 4) For each Subcontractor, for any Work performed by its Subcontractor(s) of any lower tier, 5% of the amount due the sub-Subcontractor.
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Allowance for Overhead. This is defined as costs of any kind attributable to direct and indirect delay, acceleration, or impact, added to the total cost to Owner of any change in the Contract Sum. If the Contractor is compensated under Section 7.03D, the amount of such compensation shall be reduced by the amount Contractor is otherwise entitled to under this subsection (f). This allowance shall compensate Contractor for all noncraft labor, temporary construction facilities, field engineering, schedule updating, as-built drawings, home office cost, B&O taxes, office engineering, estimating costs, additional overhead because of extended time, and any other cost incidental to the change in the Work. It shall be strictly limited in all cases to a reasonable amount, mutually acceptable, or if none can be agreed upon to an amount not to exceed the rates below: (1) Projects less than $3 million: For projects where the Contract Award Amount is under $3 million, the following shall apply: (a) Contractor markup on Contractor Work: For Contractor, for any Work actually performed by Contractor’s own forces, shall not exceed 16% of the first $50,000 of the cost, and 4% of the remaining cost, if any. (b) Subcontractor markup for Subcontractor Work: For each Subcontractor (including lower tier subcontractors), for any Work actually performed by its own forces, shall not exceed 16% of the first $50,000 of the cost, and 4% of the remaining cost, if any.
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Allowance for Overhead. 3.1 In determining the cost to be assessed by ▇▇▇▇▇▇▇▇ for rendering of services to Utilities as herein provided, there shall be added to the salaries of all officers and employees for whose services charges are to be made, a percentage sufficient to cover the general overhead of ▇▇▇▇▇▇▇▇ as defined below properly allocable thereto. No general overhead of ▇▇▇▇▇▇▇▇ shall be added to costs incurred for services of non-affiliated consultants employed by ▇▇▇▇▇▇▇▇. 3.2 The term “general overhead” shall include; (a) portion of salaries not directly chargeable to ▇▇▇▇▇▇▇▇ employees determined on basis of hours worked for Utilities. (b) Portion of payroll burden (SSA, medical insurance, FUTA, SUTA, Workmen’s Compensation, and payroll processing) paid for the (c) benefit of Utilities employees; (d) taxes; and (e) rent and depreciation on building.
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Allowance for Overhead. This is defined as costs of any kind attributable to direct and indirect delay, acceleration, or impact, added to the total cost to Owner of any change in the Contract Sum. If the Contractor is compensated under Section 7.03D, the amount of such compensation shall be reduced by the amount Contractor is otherwise entitled to under this Subsection (f). This allowance shall compensate Contractor for all non-craft labor, temporary construction facilities, field engineering, schedule updating, as-built drawings, home office cost, B&O taxes, office engineering, estimating costs, additional overhead because of extended time, and any other cost incidental to the change in the Work. It shall be strictly limited in all cases to a reasonable amount, mutually acceptable,or if none can be agreed upon to an amount not to exceed the rates below: (1) Projects less than $3 million: For projects where the Contract Award Amount is under $3 million, the following shall apply:
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Allowance for Overhead. 3.1 3. 1In determining the cost for services rendered by the Service Company to Aqua IL as herein provided, there shall be added to the base pay rate of all officers and employees for whose services charges are to be made, a percentage sufficient to cover the overhead of Service Company, as defined below, allocable to each such officer or employee. The overhead shall be calculated each year and shall be based on the ratio of the total overhead of the Service Company for the year to the total salaries of the Service Company officers and employees for whose services charges are to be made to the Subsidiaries, including Aqua IL. No general overhead or other markups by the Service Company shall be added to costs incurred for services of consultants or other third parties employed by Service Company.
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Related to Allowance for Overhead

  • Allowance for Loan Losses The Company's allowance for loan losses is, and shall be as of the Effective Date, in compliance with the Company's existing methodology for determining the adequacy of its allowance for loan losses as well as the standards established by applicable Governmental Authorities and the Financial Accounting Standards Board and is and shall be adequate under all such standards.

  • Allowance for Possible Loan Losses The allowance for possible loan or credit losses (the “Allowance”) shown on the consolidated balance sheets of each Subsidiary, as applicable, included in the most recent SEC Documents dated prior to the date of this Agreement was, as of the dates thereof, adequate (within the meaning of GAAP and applicable regulatory requirements or guidelines) to provide for all known, reasonably anticipated or probable losses relating to or inherent in the loan and lease portfolios (including accrued interest receivables) of such Subsidiary and other extensions of credit (including letters of credit and commitments to make loans or extend credit) by such Subsidiary as of the date thereof; provided, however, that there can be no assurance that future losses will not exceed the Allowance, or that additional provisions for loan losses will not be required in future periods, and provided, further, that it is understood that the Company’s determination of the Allowance is subject to review by the Company’s bank regulator, which can require the establishment of additional general or specific allowances.

  • Allowance for Loan and Lease Losses (1) Within sixty (60) days of this Agreement, the Board shall revise, adopt, implement, and thereafter ensure adherence to written policies and procedures for maintaining an appropriate Allowance for Loan and Lease Losses ("Allowance") in accordance with GAAP. The Allowance policies and procedures shall be consistent with the guidance set forth in: (a) the Federal Financial Institutions Examination Council's "Interagency Policy Statement on the Allowance for Loan and Lease Losses" dated December 13, 2006 (OTS CEO Memorandum No. 250); (b) OTS' Examination Handbook, Section 261, "Adequacy of Valuation Allowances;" (c) OTS CEO Memorandum No. 304 (ALLL-Observed Thrift Practices Including Sound Practices), dated May 22, 2009; or (d) any applicable successor regulation and guidance as specified by the Comptroller. (2) The Allowance policies and procedures required under paragraph (1) of this Article shall include, at a minimum: (a) procedures for determining whether a loan is impaired and measuring the amount of impairment, consistent with Accounting Standards Codification 310-10 (formerly known as FASB Statement of Financial Accounting Standards No, 114, Accounting by Creditors for Impairment of a Loan); (b) procedures for segmenting the loan portfolio and estimating loss on groups of loans, consistent with Accounting Standards Codification 310-10 and 450-20 (formerly known as FASB Statement of Financial Accounting Standards No. 5, Accounting for Contingencies);procedures for validating the Allowance methodology; and (c) procedures to ensure that the estimation of credit losses considers the relevant qualitative and environmental factors, with particular focus on the following: (i) trends in the Bank's internal risk ratings, delinquent and nonaccrual loans; (ii) results of the Bank's external loan review; (iii) concentrations of credit in the Bank; (iv) present and prospective economic conditions; and (v) applicable experience of the Bank's lending staff. (3) The program shall provide for a process for summarizing and documenting, for the Board's review and approval, the amount to be reported in the Thrift Financial Reports or Call Report, as applicable, for the Allowance. Any deficiency in the Allowance shall be remedied in the quarter it is discovered, prior to the filing of the Thrift Financial Report or Call Report, as applicable, by additional provisions from earnings. Written documentation shall be maintained indicating the factors considered and conclusions reached by the Board in determining the adequacy of the Allowance.

  • Expense Allowance Out of the proceeds of each Closing, the Company also agrees to pay ▇▇▇▇▇▇▇▇▇▇ (a) a management fee equal to 1.0% of the gross proceeds raised in each Offering; (b) $35,000 for non-accountable expenses (to be increased to $50,000 in case of a public Offering); (c) up to $50,000 for fees and expenses of legal counsel and other out-of-pocket expenses (to be increased to $100,000 in case of a public Offering); plus the additional amount payable by the Company pursuant to Paragraph D.3 hereunder and, if applicable, the costs associated with the use of a third-party electronic road show service (such as NetRoadshow); provided, however, that such amount in no way limits or impairs the indemnification and contribution provisions of this Agreement.

  • Compensation; Allocation of Costs and Expenses In full consideration of the provision of the services of the Administrator, the Company shall reimburse the Administrator for the costs and expenses incurred by the Administrator in performing its obligations and providing personnel and facilities hereunder. The Company will bear all costs and expenses that are incurred in its operation and transactions that are not specifically assumed by the Company’s investment adviser, Gladstone Management Corporation (the “Adviser”), pursuant to that certain Amended and Restated Investment Advisory Agreement, dated the same date hereof by and between the Company and the Adviser. Costs and expenses to be borne by the Company include, but are not limited to, those relating to: organization and offering; expenses incurred by the Adviser payable to third parties, including agents, consultants or other advisors (such as independent valuation firms, accountants and legal counsel), in monitoring financial and legal affairs for the Company and in monitoring the Company’s investments and performing due diligence on its prospective portfolio companies; interest and fees payable on debt, if any, incurred to finance the Company’s investments; offerings of the Company’s common stock, preferred stock and other securities; investment advisory and management fees; administration fees, if any, payable under this Agreement; fees payable to third parties, including agents, consultants or other advisors, relating to, or associated with, evaluating and making investments; transfer agent and custodial fees; federal and state registration fees; all costs of registration and listing the Company’s shares on any securities exchange; federal, state and local taxes; independent directors’ fees and expenses; costs of preparing and filing reports or other documents required by the SEC; costs of any reports, proxy statements or other notices to stockholders, including printing costs; the Company’s allocable portion of the fidelity bond, directors and officers and errors and omissions liability insurance, and any other insurance premiums; direct costs and expenses of administration, including printing, mailing, long distance telephone, copying, secretarial and other staff, independent auditors and outside legal costs; and all other expenses incurred by the Company or the Administrator in connection with administering the Company’s business, including payments under this Agreement based upon the Company’s allocable portion of the Administrator’s overhead in performing its obligations under this Agreement, including rent, and the allocable portion of the salaries and benefits expenses of the Company’s chief compliance officer, treasurer, chief financial officer and controller and their respective staffs.