Budget of the project Clause Samples

The 'Budget of the project' clause defines the total financial resources allocated for the completion of a specific project. It typically outlines the maximum amount that can be spent, details the categories of expenses covered (such as labor, materials, and overhead), and may specify procedures for requesting additional funds or handling budget overruns. This clause ensures that all parties are aware of financial limits and responsibilities, helping to control costs and prevent disputes over funding during the project's execution.
Budget of the project expenses/ Partner 7.1. Commitment of the Partners vis-à-vis the forward-looking estimation The Partners agree to consider the forward-looking estimation, specified in Annex 3 hereafter, as the amount of the financial obligations to which they commit themselves concerning the Project phases. 7.2. Commitment of each partner vis-à-vis the government financing concerning his part of the Project Each Partner shall see to the financing of his part of the Project and also to all dialogue with the other Partners from the same country as him, needed to make participating the concerned national Organizations of that country in the financing of his part of the budget within the framework of the Program CDTI-XXX. The financial commitments specified hereabove shall take effect only if the National Organizations of each concerned country participating in the Program CDTI-XXX give their support. 7.3. Common expenses The common expenses shall be established during the Project Managerial Board meetings. Each partner shall sollely bear Its own expenses.
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Budget of the project. The total eligible value is …… <amount in figures> EUR (non-refundable financing and the contribution of the partners), out of which: … <amount in figures> EUR ERDF, representing maximum 85% … <amount in figures> EUR State Budgets Cofinancing, representing maximum 13% … <amount in figures> EUR Partner’s own contribution The non-eligible value is in amount of………. EUR and shall be supported by the LB and partners according to the approved budget. The total estimated net revenue is in amount of…………. The additional net revenue generated during implementation of the project, resulting from sources of revenue not taken into account in determining the potential net revenue of the project, shall be deducted from the eligible expenditure of the project. Where it is objectively not possible to determine the revenue in advance based on the method set out in Article 61 paragraph 3(b) of Regulation 1303/2013, the net revenue generated within three years of the completion of the project, or by the deadline for the submission of documents for programme closure, whichever is the earliest, shall be deducted from the project eligible value. In the case of net revenue generating projects, the partners shall respect the provisions of Article 61 of Regulation (EU) No. 1303/2013. The partner commits itself to support its own contribution and the non-eligible expenditures. In case the MA cannot reimburse the expenditures due to lack of available funds at Programme level, the partner commits to support from its own budget the funds necessary for the implementation of the project, according to the approved Application Form and observing the provisions of the present agreement and its annexes and of the European and national legislation in force. The MA shall notify the LB/ partner regarding the lack of available funds.
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Budget of the project. Annex E 1) The total budget of the operation is …… EUR <amount in figures>, out of which: i. the total eligible value ….. EUR (non-refundable financing and the contribution of the partner), out of which: <amount in figures> EUR IPA, representing 85 % ii. <amount in figures> EUR State Budgets Co-financing, representing …% iii. <amount in figures> EUR Partners own contribution, representing …% - The non-eligible value is in amount of……. representing the total of non-eligible expenditure supported by the Lead Partner and partners and shall be supported by the LB and partners according to the approved budget.
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Budget of the project. 1. The total financial amount of the Project is 147.312,80 EUR. 2. Parties have agreed that the Contractor will pay to the Partner for its participation in the Project the amount of 44 582,40 EUR. 3. Parties have agreed that the amount stated in point 2 of this article will be paid in three (3) instalments as follows: aj the amount of 37.982,40 EUR is due on 15 days after receiving the payment from Agency in year 2021
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Related to Budget of the project

  • Development of the Project 4.1 TSP's obligations in development of the Project: a. for procuring and maintaining in full force and effect all Consents, Clearances and Permits, required in accordance with Law for development of the Project; b. for financing, constructing, owning and commissioning each of the Element of the Project for the scope of work set out in Schedule 1 of this Agreement in accordance with: i. the Electricity Act and the Rules made thereof; ii. the Grid Code; iii. the CEA Regulations applicable, and as amended from time to time, for Transmission Lines and sub-stations: • the Central Electricity Authority (Technical Standards for Connectivity to the Grid) Regulations, 2007; • Central Electricity Authority (Technical Standards for construction of Electrical Plants and Electric Lines) Regulation, 2010; • Central Electricity Authority (Grid Standard) Regulations, 2010; • Central Electricity Authority (Safety requirements for construction, operation and maintenance of Electrical Plants and Electrical Lines) Regulation, 2011; • Central Electricity Authority (Measures relating to Safety and Electricity Supply) Regulation, 2010; • Central Electricity Authority (Technical Standards for Communication System in Power System Operation) Regulations, 2020. iv. Safety/ security Guidelines laid down by the Government; v. Prudent Utility Practices, relevant Indian Standards and the Law; not later than the Scheduled COD as per Schedule 2 of this Agreement; c. for entering into a Connection Agreement with the concerned parties in accordance with the Grid Code. d. for owning the Project throughout the term of this Agreement free and clear of any encumbrances except those expressly permitted under Article 15 of this Agreement; e. to co-ordinate and liaise with concerned agencies and provide on a timely basis relevant information with regard to the specifications of the Project that may be required for interconnecting the Project with the Interconnection Facilities; f. for providing all assistance to the Arbitrators as they may require for the performance of their duties and responsibilities; g. to provide to the Nodal Agency and CEA, on a monthly basis, progress reports with regard to the Project and its execution (in accordance with prescribed form) to enable the CEA to monitor and co-ordinate the development of the Project matching with the Interconnection Facilities; h. to comply with Ministry of Power order no. 25-11/6/2018 – PG dated 02.07.2020 as well as other Guidelines issued by Govt. of India pertaining to this; i. to procure the products associated with the Transmission System as per provisions of Public Procurement (Preference to Make in India) orders issued by Ministry of Power vide orders No. 11/5/2018 - Coord. dated 28.07.2020 for transmission sector, as amended from time to time read with Department for Promotion of Industry and Internal Trade (DPIIT) orders in this regard (Procuring Entity as defined in above orders shall deemed to have included Selected Bidder and/ or TSP). Also, to comply with Department of Expenditure, Ministry of Finance vide Order (Public Procurement No 1) bearing File No. 6/18/2019- PPD dated 23.07.2020, Order (Public Procurement No 2) bearing File No. 6/18/2019-PPD dated 23.07.2020 and Order (Public Procurement No. 3) bearing File No. 6/18/2019-PPD, dated 24.07.2020, as amended from time to time, regarding public procurement from a bidder of a country, which shares land border with India; j. to submit to Nodal Agency information in the prescribed format [To be devised by Nodal Agency] for ensuring compliance to Article 4.1 i) above. k. to comply with all its obligations undertaken in this Agreement. 4.2 Roles of the Nodal Agency in implementation of the Project: 4.2.1 Subject to the terms and conditions of this Agreement, the Nodal Agency shall be the holder and administrator of this Agreement and shall inter alia: a. appoint an Independent Engineer within 90 days of the Effective Date b. provide letters of recommendation to the concerned Indian Governmental Instrumentality, as may be requested by the TSP from time to time, for obtaining the Consents, Clearances and Permits required for the Project; c. coordinate among TSP and upstream/downstream entities in respect of Interconnection Facilities; and d. monitor the implementation of the Agreement and take appropriate action for breach thereof including revocation of guarantees, cancellation of Agreement, blacklisting etc e. provide all assistance to the Arbitrators as required for the performance of their duties and responsibilities; and f. perform any other responsibility (ies) as specified in this Agreement.

  • Development of the Property Except as modified by this Agreement, the Development and the Property will be developed in accordance with all applicable local, state, and federal regulations, including but not limited to the City’s ordinances and the zoning regulations applicable to the Property, and such amendments to City ordinances and regulations that that may be applied to the Development and the Property under Chapter 245, Texas Local Government Code, and good engineering practices (the “Applicable Regulations”). If there is a conflict between the Applicable Regulations and the Development Standards, the Development Standards shall control.

  • Scope of the Project Under this Agreement, the scope of the Project (the “Scope of the Project”) shall mean and include: (a) construction of the Project Highway on the Site set forth in Schedule- A and as specified in Schedule-B together with provision of Project Facilities as specified in Schedule-C, and in conformity with the Specifications and Standards set forth in Schedule-D; (b) maintenance of the Project Highway in accordance with the provisions of this Agreement and in conformity with the requirements set forth in Schedule-E; and (c) performance and fulfilment of all other obligations of the Contractor in accordance with the provisions of this Agreement and matters incidental thereto or necessary for the performance of any or all of the obligations of the Contractor under this Agreement.

  • Completion of the Project The Participating County acknowledges it is obligated to undertake and complete the design and construction of the Project in compliance with all of the applicable terms and conditions of the Project Documents and the Participating County agrees to use its best efforts to cause the completion of design and construction of the Project in compliance with the applicable terms and conditions of such documents. The Participating County agrees to complete the Project in accordance with this Agreement and consistent with the scope, cost and schedule established by the Board and attached hereto in Exhibit A, as such scope, cost and schedule may be modified with the approval of Finance and the recognition of the Board.