Costs Allowable Sample Clauses

Costs Allowable. All of Seller’s costs (both Direct Costs and/or Indirect Costs) that have been, prior to the date hereof, charged to any Government Contract are allowable in accordance with applicable cost accounting standards (except for costs properly charged to a reserve account appearing on Seller’s balance sheet as of the close of September 30, 2008).
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Costs Allowable. All costs (both Direct Costs and Indirect Costs) that have been charged to the Company pursuant to any existing subcontract agreements shall be allowable in accordance with applicable cost accounting standards. No incurred Direct Costs and/or Indirect Costs shall be disallowed for any period of time prior to the Closing Date in excess of One Hundred Thousand dollars ($100,000). All Company costs (both Direct Costs and/or Indirect Costs) that have been, prior to Closing, charged to any Government Contract shall be allowable in accordance with applicable cost accounting standards (except for costs properly charged to a reserve account appearing on the Company Balance Sheet).
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Costs Allowable. All costs (both Direct Costs and Indirect Costs) to be billed to the Company prior to the Closing Date pursuant to any existing subcontract agreements shall be allowable in accordance with Federal Acquisition Regulation 31.201-2, if applicable, to the corresponding Company contract to which the subcontract has been issued. No Direct Costs and/or Indirect Costs incurred by the Company or billed to the Company by a subcontractor prior to the Closing Date shall be disallowed by the United States. All Company costs (both Direct Costs and/or Indirect Costs) that have been incurred by the Company or billed to the Company by a subcontractor prior to the Closing Date in connection with a Government Contract prior to Closing shall be allowable in accordance with Federal Acquisition Regulation 31.201-2, to the extent applicable.
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Costs Allowable. Subject to the provisions of this Agreement, the Company shall bear and pay the following costs and expenses in respect of its activities under this Agreement. These costs and expenses will be classified under the expenditure headings set out in Section 2 of this Schedule. Subject to the Sections 12, 13 and 15 of the Petroleum (Taxation) Act, which shall apply equally to the computation of PIT and PAPT under this Agreement, the costs described in this subsection 3.1 shall be allowable deductions in the computation of PIT and PAPT, subject to audits.
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Costs Allowable. Except to the extent the aggregate amount of disallowed costs would not exceed $100,000 per fiscal year in which such costs were incurred, since January 1, 2005, (i) all costs (both direct costs and indirect costs) that have been charged to the Company pursuant to any existing subcontract agreements shall be allowable in accordance with applicable cost accounting standards, (ii) no incurred direct costs and/or indirect costs shall be disallowed in excess of $100,000, and (iii) all Company costs (both direct costs and/or indirect costs) that have been charged to any Government Contract shall be allowable in accordance with applicable cost accounting standards (except for costs properly charged to a reserve account appearing on the Company Balance Sheet).
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Related to Costs Allowable

  • Allowable Costs A. Allowable Costs are restricted to costs that are authorized under Texas Uniform Grant Management Standards (TxGMS) and applicable state and federal rules and laws. This Grant Agreement is subject to all applicable requirements of TxGMS, including the criteria for Allowable Costs. Additional federal requirements apply if this Grant Agreement is funded, in whole or in part, with federal funds. B. System Agency will reimburse Grantee for actual, allowable, and allocable costs incurred by Grantee in performing the Project, provided the costs are sufficiently documented. Grantee must have incurred a cost prior to claiming reimbursement and within the applicable term to be eligible for reimbursement under this Grant Agreement. At its sole discretion, the System Agency will determine whether costs submitted by Grantee are allowable and eligible for reimbursement. The System Agency may take repayment (recoup) from remaining funds available under this Grant Agreement in amounts necessary to fulfill Grantee’s repayment obligations. Grantee and all payments received by Grantee under this Grant Agreement are subject to applicable cost principles, audit requirements, and administrative requirements including applicable provisions under 2 CFR 200, 48 CFR Part 31, and TxGMS. C. OMB Circulars will be applied with the modifications prescribed by TxGMS with effect given to whichever provision imposes the more stringent requirement in the event of a conflict.

  • Allowable Expenses Contractor may submit for reimbursement, without mark-up, only the following categories of expense:

  • Excess Costs Subject to the provisions of Section 4.1.3 below, if (a) the actual cost of any line item of the Work set forth in the Budget (including all fees and soft costs) exceeds the portion of the Contract Sum allocated for that line item in the Budget, or (b) additional unanticipated costs are identified after the date of this Agreement for which amounts were not allocated or reallocated in the Budget (collectively, the “Excess Costs”), Contractor shall be solely responsible at its sole cost and expense for, and shall pay, the amount of all such Excess Costs required to complete the Work (or the component thereof) and otherwise to fulfill all of its obligations under this Agreement without reimbursement for the Excess Costs by Owner. In addition, if Owner reasonably and in good faith anticipates that an Excess Cost will be incurred to achieve Completion of the Work, Owner may provide written notice thereof to Contractor (“Cost Overrun Notice”). Within twenty (20) business days after receipt of such Cost Overrun Notice, Contractor may dispute the contents of such Cost Overrun Notice by delivering written notice thereof to Owner (the “Cost Overrun Dispute Notice”) explaining in reasonable detail that Owner’s estimation of Excess Costs is incorrect. If Contractor fails to deliver a Cost Overrun Dispute Notice, Contractor shall be deemed to have waived its right to dispute the Excess Costs identified in such Cost Overrun Notice. If Contractor delivers a Cost Overrun Dispute Notice, Owner may (A) withdraw such Cost Overrun Notice, (B) modify such Cost Overrun Notice to conform to all or any corrections offered by Contractor, or (C) if Owner disagrees with the contents of the Cost Overrun Dispute Notice, engage the Civil Engineer to determine whether (and to what extent) any Excess Costs will be incurred. If the Civil Engineer concludes that an Excess Cost will be incurred and the amount of such Excess Cost exceeds the amount, if any, of the Excess Costs identified in the Cost Overrun Dispute Notice, Contractor shall be solely responsible for the fees payable to such Civil Engineer. If the Civil Engineer concludes that the amount of Excess Costs to be incurred is equal to or less than the Excess Costs identified in the Cost Overrun Dispute Notice, Owner shall be solely responsible for the fees payable to such Civil Engineer. Any funds deposited with Owner shall be disbursed by Owner to Contractor upon completion of the applicable component of the Work and the payment of such Excess Costs, if any.

  • Unallowable Costs Costs that are unallowable under other sections of these principles shall not be allowable under this section solely on the basis that they constitute personnel compensation.

  • Costs, Expenses Each party hereto shall bear its own costs in connection with the preparation, execution and delivery of this Agreement.