Cash Allowance Items Sample Clauses

The Cash Allowance Items clause defines specific sums of money set aside within a contract to cover the cost of particular materials, equipment, or work that cannot be precisely determined at the time of agreement. These allowances are typically listed separately in the contract and are adjusted based on the actual cost incurred once the items or services are selected or performed. This clause ensures that both parties have a clear understanding of provisional costs, helping to manage budget uncertainties and avoid disputes over unforeseen expenses during the project.
Cash Allowance Items. (a) Project Co shall deposit the Cash Allowance Amount into the Cash Allowance Account on the dates and in the amounts set out in the Financial Model at Financial Close and shall manage the Cash Allowance Account in accordance with this Section 18.11. (b) The cash flow process applicable to the Cash Allowance Account will be as follows: (i) Project Co will deposit the Cash Allowance Amount into the Cash Allowance Account on the dates and in the amounts set out in the Financial Model at Financial Close; (ii) Project Co will hold and manage all monies in the Cash Allowance Account in trust for, for the benefit of and as directed by IO; (iii) interest earned on the Cash Allowance Account will accrue in the Cash Allowance Account and will be for the benefit of IO; (iv) Project Co shall provide a reconciliation of the Cash Allowance Account to IO on a monthly basis; (v) subject to Project Co’s obligation to fund the Cash Allowance Account pursuant to Section 18.11(b)(i), IO shall make deposits into the Cash Allowance Account in the event that the payment requirements for Cash Allowance Items, including applicable HST, for invoices approved by IO exceed the then balance of the Cash Allowance Account, for clarity, determined on an aggregate basis across all Cash Allowance Items, prior to approving any such invoices; (vi) if, at the second anniversary of the Substantial Completion Date, there exists a positive balance in the Cash Allowance Account, such balance will be the property of IO and will be paid by Project Co to IO or as IO directs; (vii) the Parties agree to mutually review the operation of the Cash Allowance Account on a regular basis and make any appropriate modifications to ensure its efficient operation; and (viii) Section 18.11(c) to (h) shall apply only in respect of the Cash Allowance Items referred to in paragraphs (i) to (iv) of the definition of that term. Section 18.11(i) shall only apply in respect of the Cash Allowance Item referred to in paragraph (v) of the definition of that term. (c) Project Co shall provide monthly reports to the IO Representative that include the following information: (i) itemized and aggregate amounts committed to date for all Cash Allowance Items; (ii) itemized and aggregate amounts spent to date for all Cash Allowance Items; and (iii) the projected cost of each remaining Cash Allowance Item and the projected effect of such costs on the Cash Allowance Account. (d) In addition to the monthly report described in Secti...
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Related to Cash Allowance Items

  • Tenant Improvement Allowance Items Except as otherwise set forth in this Tenant Work Letter, the Tenant Improvement Allowance shall be disbursed by Landlord only for the following items and costs (collectively, the “Tenant Improvement Allowance Items”): 2.2.1.1 Payment of the fees of the “Architect” and the “Engineers,” as those terms are defined in Section 3.1 of this Tenant Work Letter, the costs of Tenant’s project manager (if any) and payment of the fees incurred by, and the cost of documents and materials supplied by, Landlord and Landlord’s consultants in connection with the preparation and review of the “Construction Drawings,” as that term is defined in Section 3.1 of this Tenant Work Letter; 2.2.1.2 The payment of plan check, permit and license fees relating to construction of the Tenant Improvements; 2.2.1.3 The cost of construction of the Tenant Improvements, including, without limitation, contractors’ fees and general conditions, testing and inspection costs, costs of utilities, trash removal, parking and hoists, and the costs of after-hours freight elevator usage. 2.2.1.4 The cost of any changes in the Base, Shell and Core work when such changes are required by the Construction Drawings (including if such changes are due to the fact that such work is prepared on an unoccupied basis), such cost to include all direct architectural and/or engineering fees and expenses incurred in connection therewith; 2.2.1.5 The cost of any changes to the Construction Drawings or Tenant Improvements required by applicable laws and building codes (collectively, “Code”); 2.2.1.6 Sales and use taxes; 2.2.1.7 The “Coordination Fee,” as that term is defined in Section 4.2.2.2 of this Tenant Work Letter; and 2.2.1.8 All other costs to be expended by Landlord in connection with the construction of the Tenant Improvements.

  • Productivity Allowance A productivity allowance per hour worked will be paid to employees engaged upon construction work from the date of agreement. This allowance will not be subject to penalty addition and shall be in lieu of all or any Parent Award disability allowances, with the exception of the multi-storey allowance. Site/Project Allowances will be paid in addition to the productivity allowance where such an addition is either: (i) Where such an allowances is awarded by the Industrial Relations Commission; or (ii) Where such an allowance is required by a site condition specified at the time of tender. It is incumbent upon the company to enquire of the Head Contractor/Client at the time of tender whether a site/project allowance is required to be paid and in particular whether it is required to be paid in accordance with the Construction Industry Site Allowance Matrix: or (iii) If the Contract between the Employer and the Head Contractor/Client does not contain provision for a site allowance, and after the contract is made the head contractor makes an agreement under which a site allowance is payable, then the head contractor should then agree in writing to reimburse the employer the full cost of the said allowance.

  • Over-Allowance Amount On the Cost Proposal Delivery Date and, in any event, prior to the commencement of the construction of the Tenant Improvements, Tenant shall deliver to Landlord cash in an amount (the “Over-Allowance Amount”) equal to the difference between (i) the amount of the Cost Proposal and (ii) the amount of the Tenant Improvement Allowance (less any portion thereof already disbursed by Landlord, or in the process of being disbursed by Landlord, on or before the Cost Proposal Delivery Date). The Over-Allowance Amount shall be disbursed by Landlord prior to the disbursement of any then remaining portion of the Tenant Improvement Allowance, and such disbursement shall be pursuant to the same procedure as the Tenant Improvement Allowance. If, after the Cost Proposal Date, any revisions, changes, or substitutions shall be made to the Construction Drawings or the Tenant Improvements as a result of requests made by Tenant or as otherwise specified in Section 5.01(h) below, any additional costs which arise in connection with such revisions, changes or substitutions shall be paid by Tenant to Landlord immediately upon Landlord’s request as an addition to the Over-Allowance Amount and, in any event, prior to the commencement of the construction of the revisions, changes or substitutions. Promptly following completion of construction of the Tenant Improvements and payment of all costs incurred in connection therewith, Landlord shall prepare and deliver to Tenant a reasonably detailed reconciliation of (i) the total cost of the Tenant Improvements, including all Tenant Improvement Allowance Items, and (ii) the total amount of the Tenant Improvement Allowance and the Over-Allowance Amount payments previously made by Tenant pursuant to the foregoing provisions of this Section. To the extent that such reconciliation discloses that the total costs of the Tenant Improvements exceeds the amount of the Tenant Improvement Allowance plus all Over-Allowance Amount previously paid by Tenant, Tenant shall pay the amount of such shortfall to Landlord within thirty (30) days after receipt of such reconciliation. To the extent that such reconciliation discloses that the total costs of the Tenant Improvements is less than the amount of the Tenant Improvement Allowance plus all Over-Allowance Amounts previously paid by Tenant, Landlord shall pay the amount of such overage to Tenant at the time that Landlord delivers such reconciliation to Tenant.

  • Shift Allowance In addition to the wage specified in sub-clause (1), read with sub- clause (12), a normal shift worker shall, in respect of his shift hours worked in any week, be paid an additional 12,5% on such wage.

  • Boot Allowance The District will pay $180 toward the purchase and/or repair of work boots for District Employees listed in the District’s Work Apparel Policy and/or at the discretion of the employee’s department manager. Payment will be made by the first full paycheck of the employee’s date of hire and annually thereafter. Boots must meet applicable OSHA standards for the duties assigned.