Cumulative Available Construction Period Funds Clause Samples

Cumulative Available Construction Period Funds. BE and CDOT each agree to budget and commit to the Project such minimum funding amounts during each fiscal year of the Construction Period as set forth in Table III-2 below, with the portion to be made available by CDOT being the “CDOT Available Funds Obligation” and the portion to be made available by BE being the “BE Available Funds Obligation,” which amounts are inclusive of each Party’s Milestone Payment contribution and expected Pre-Development Cost contribution during the Construction Period. To the extent Pre-Development Costs during the Construction Period exceed amounts that have been committed, CDOT, and not the Enterprises, shall be responsible for funding additional Project contingency from other funding sources as shall be determined in the discretion of the Transportation Commission at the time such additional funding is requested. Table III-2: Cumulative Available Funds During the Construction Period1 Prior to June 30, 2017 $142,309,3332 $185,200,0003 1 Amounts available represent new amounts to be made available during the fiscal year, are not cumulative, and may not be fully expended in the year indicated. Amounts not expended in the year such funds are made available are expected to be carried over into the subsequent fiscal year. Milestone payment timing is dependent upon Developer’s completion schedule.
View SourceView Similar (2)
Cumulative Available Construction Period Funds. BE and CDOT each agree to budget and commit to the Project such minimum funding amounts during each fiscal year of the Construction Period as set forth in Table III-2 below, with the portion to be made available by CDOT being the “CDOT Available Funds Obligation” and the portion to be made available by BE being the “BE Available Funds Obligation,” which amounts are inclusive of each Party’s Milestone Payment contribution and expected Pre-Development Cost contribution during the Construction Period. An alternative sequence of funding (including, for certainty, utilization of DRCOG CMAQ and SB-09-228 funds for either Pre-Development Costs or toward a CDOT MP Obligation) may be agreed to as between BE and CDOT, provided that neither the total cumulative available funds made available by either Party in any fiscal year, nor the total amount payable by BE during the Construction Period, shall be modified without further amending this Agreement. To the extent Pre-Development Costs during the Construction Period exceed amounts that have been committed, CDOT, and not the Enterprises, shall be responsible for funding additional Project contingency from other funding sources as shall be determined in the discretion of the Transportation Commission at the time such additional funding is requested. Table III-2: Cumulative Available Funds During the Construction Period1 1 Amounts available represent new amounts to be made available during the fiscal year, are not cumulative, and may not be fully expended in the year indicated. Amounts not expended in the year such funds are made available are expected to be carried over into the subsequent fiscal year. Milestone payment timing is dependent upon Developer’s completion schedule. Prior to June 30, 2017 $142,309,3332 $185,200,0003 July 1, 2017 – June 30, 2018 $0 $3,000,0004 July 1, 2018 – June 30, 2019 $86,845,5025 $16,000,000 Total6 $403,154,835 $229,200,000
View Source

Related to Cumulative Available Construction Period Funds

  • Minimum Excess Availability Borrower shall have Excess Availability under the Revolving Credit Loans facility of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder and after giving effect to any applicable Loan Reserves against borrowing availability under the Revolving Credit Loans.

  • Early Construction of Base Case Facilities Developer may request Connecting Transmission Owner to construct, and Connecting Transmission Owner shall construct, subject to a binding cost allocation agreement reached in accordance with Attachment S to the ISO OATT, including Section 25.8.7 thereof, using Reasonable Efforts to accommodate Developer’s In-Service Date, all or any portion of any System Upgrade Facilities or System Deliverability Upgrades required for Developer to be interconnected to the New York State Transmission System which are included in the Base Case of the Class Year Study for the Developer, and which also are required to be constructed for another Developer, but where such construction is not scheduled to be completed in time to achieve Developer’s In-Service Date.

  • PRE-CONSTRUCTION PHASE FEE The Pre-Construction Phase Fee is the total compensation payable to Contractor for the performance of Pre-Construction Phase Services, except for Additional Pre-Construction Phase Services approved in advance and in writing by Owner. The Pre-Construction Phase Fee shall be a lump sum amount based on the AACC established in this Agreement. 6.1 Except as specifically allowed by Owner, Contractor shall not be entitled to any increase in the Pre-Construction Phase Fee for any costs, expenses, liabilities or other obligations arising from the performance of Pre-Construction Phase Services. 6.2 Costs associated with the following items are specifically, but not exclusively, included in the establishment of the Pre-Construction Phase Fee: profit and profit sharing; general overhead; salaries and labor; housing and relocation; estimating, scheduling and information management systems and software; contract administration; office expenses; printing and copying; consulting fees; legal or accounting fees; cost of money; taxes; insurance premiums and deductibles; bond costs; purchase or rental of equipment; utilities; travel; per diem; fines or penalties; and damage awards. 6.3 If the scope of the Pre-Construction Phase Services is changed materially, the Pre- Construction Phase Fee shall be equitably adjusted. If the AACC is changed materially before acceptance of the GMP Proposal, the Pre-Construction Phase Fee shall be adjusted in writing in proportion to the change in the AACC. There shall be no adjustments in the Pre-Construction Phase Fee following acceptance of the GMP Proposal. 6.4 For Additional Pre-Construction Phase Services that are approved in advance and in writing by Owner, Contractor shall be entitled to additional compensation computed as follows: 6.4.1 A pre-established lump sum amount; or 6.4.2 The hourly cost of Contractor’s employees or consultants who actually perform the Additional Services based on the employee’s Worker Wage Rate or prorated Monthly Rate plus the actual cost of allowable expenses incurred in the performance of the Additional Pre-Construction Phase Services, plus an overhead and profit markup of ten percent (10%) of the total cost; or 6.4.3 As otherwise agreed in advance and in writing.

  • Maintenance during Construction Period (i) During the Construction Period, the Contractor shall maintain, at its cost, the existing lane(s) of the Project Highway so that the traffic worthiness and safety thereof are at no time materially inferior as compared to their condition on Appointed Date, and shall undertake the necessary repair and maintenance works for this purpose; provided that the Contractor may, at its cost, interrupt and divert the flow of traffic if such interruption and diversion is necessary for the efficient progress of Works and conforms to Good Industry Practice; provided further that such interruption and diversion shall be undertaken by the Contractor only with the prior written approval of the Authority’s Engineer which approval shall not be unreasonably withheld. For the avoidance of doubt, it is agreed that the Contractor shall at all times be responsible for ensuring safe operation of the Project Highway. It is further agreed that in the event the Project includes construction of a bypass or tunnel and realignment of the existing carriageway, the Contractor shall maintain the existing highway in such sections until the new Works are open to traffic. (ii) Notwithstanding anything to the contrary contained in this Agreement, in the event of default by the Contractor in discharging the obligations specified in Clause 10.4 (i) above, the Authority shall get these maintenance works completed in the manner recommended by the Authority’s Engineer to avoid public inconvenience at the risk and cost of the Contractor in order to keep the road in traffic worthy condition.

  • Can I Roll Over or Transfer Amounts from Other IRAs You are allowed to “roll over” a distribution or transfer your assets from one ▇▇▇▇ ▇▇▇ to another without any tax liability. Rollovers between ▇▇▇▇ IRAs are permitted every 12 months and must be accomplished within 60 days after the distribution. Beginning in 2015, just one 60 day rollover is allowed in any 12 month period, inclusive of all Traditional, ▇▇▇▇, SEP, and SIMPLE IRAs owned. If you are single, head of household or married filing jointly, you may convert amounts from another individual retirement plan (such as a Traditional IRA) to a ▇▇▇▇ ▇▇▇, there are no AGI restrictions. Mandatory required minimum distributions from Traditional IRAs, must be removed from the Traditional IRA prior to conversion. Rollover amounts (except to the extent they represent non-deductible contributions) are includable in your income and subject to tax in the year of the conversion, but such amounts are not subject to the 10% penalty tax. However, if an amount rolled over from a Traditional IRA is distributed from the ▇▇▇▇ ▇▇▇ before the end of the five-tax-year period that begins with the first day of the tax year in which the rollover is made, a 10% penalty tax will apply. Effective in the tax year 2008, assets may be directly rolled over (converted) from a 401(k) Plan, 403(b) Plan or a governmental 457 Plan to a ▇▇▇▇ ▇▇▇. Subject to the foregoing limits, you may also directly convert a Traditional IRA to a ▇▇▇▇ ▇▇▇ with similar tax results. Furthermore, if you have made contributions to a Traditional IRA during the year in excess of the deductible limit, you may convert those non- deductible IRA contributions to contributions to a ▇▇▇▇ ▇▇▇ (assuming that you otherwise qualify to make a ▇▇▇▇ ▇▇▇ contribution for the year and subject to the contribution limit for a ▇▇▇▇ ▇▇▇). You must report a rollover or conversion from a Traditional IRA to a ▇▇▇▇ ▇▇▇ by filing Form 8606 as an attachment to your federal income tax return. Beginning in 2006, you may roll over amounts from a “designated ▇▇▇▇ ▇▇▇ account” established under a qualified retirement plan. ▇▇▇▇ ▇▇▇, ▇▇▇▇ 401(k) or ▇▇▇▇ 403(b) assets may only be rolled over either to another designated ▇▇▇▇ Qualified account or to a ▇▇▇▇ ▇▇▇. Upon distribution of employer sponsored plans the participant may roll designated ▇▇▇▇ assets into a ▇▇▇▇ ▇▇▇ but not into a Traditional IRA. In addition, ▇▇▇▇ assets cannot be rolled into a Profit-Sharing-only plan or pretax deferral-only 401(k) plan. In the event of your death, the designated beneficiary of your ▇▇▇▇ 401(k) or ▇▇▇▇ 403(b) Plan may have the opportunity to rollover proceeds from that Plan into a Beneficiary ▇▇▇▇ ▇▇▇ account. Strict limitations apply to rollovers, and you should seek competent advice in order to comply with all of the rules governing any type of rollover.