Changes in Academic Costs Clause Samples

Changes in Academic Costs. If the New University Board of Trustees uses its ultimate authority to increase Academic Costs above that amount which was recommended by the Advisory Committee (including by expanding the meaning of Academic Costs, or changing any Academic Cost amounts in a New University Budget that have been recommended the Advisory Committee, or by resolving any Academic Cost items in a New University Budget for which there was no agreement by the Advisory Committee, to the extent such Academic Costs are greater that the Academic Costs agreed to by Contributor, or if New University otherwise incurs Academic Costs not contemplated by the Parties (any of the foregoing being called “Special Academic Costs”), then, to the extent the Special Academic Costs incurred by New University for any individual program, project, line item or other matter, exceed, in the aggregate, $2 million, such excess amount shall be deemed New University Excess Payments irrespective of the NU Costs Cap and treated as provided in this Exhibit F. To the extent any other Academic Costs of New University exceed the NU Costs Cap for any applicable period, such increased Academic Costs, when incurred by New University, will be reflected in the calculation of New University Excess Payments, and treated as contemplated in this Exhibit F.