Over Budget Clause Samples

Over Budget. If the apparent lowest responsive and responsible bid on the Project exceeds the Designer’s Final Estimate by more than five percent (5%), City may request Designer to amend, at Designer’s sole cost and expense, the Final Drawings and Specifications in order to rebid the Project and receive a lowest responsive and responsible bid equal to or less than the Designer’s Final Estimate. All revisions necessary to bring the lowest responsible and responsive bid within the Designer’s Final Estimate, including any omissions, deferrals or alternates, shall be made in consultation with, and subject to the approval of, the City.
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Over Budget. The cost indicator shall include the total dollar value expended by all participants in the project even though all expenses have not been invoiced. ▪ SCHEDULE: G (green) - Goal Achievement On Time; Y (yellow) - Goal Achievement >1% but < 10% Late; and R (red) - Goal Achievement > 10% Behind Schedule. ▪ PERFORMANCE: G (green) - Goals/Major Objectives Will Be Achieved; Y (yellow) - Goals/Several Major Objectives in Jeopardy; and R (red) - Goals Will Not Be Achieved. • Summary of Tasks 1 through 9 elements per labor categories: ▪ Total budget and remaining budget ▪ Expenditure for the month in focus ▪ Estimated % work complete ▪ Brief list of activities/deliverables completed that month ▪ Brief list of activities anticipated in the next month ▪ Brief list of outstanding issues/comments requiring USDOT attention ▪ Status of each deliverable—including the outline, the draft (or interim) version, and the final version • Risk Management Log • Monthly invoices for work performed and accepted– due each month, beginning with the end of the first month after Contract award. The Contractor shall attend a webinar/teleconference for the project closeout meeting during the last week of the project. The Contractor shall present a summary of work performed under each task, the status of each deliverable, and identify pending or incomplete deliverables, and the total funds expended.
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Over Budget. The cost indicator shall include the total dollar value expended by all participants in the project even though all expenses have not been invoiced. ▪ SCHEDULE: G (green) - Goal Achievement On-Time; Y (yellow) - Goal Achievement >1% but < 10% Late; and R (red) - Goal Achievement > 10% Behind Schedule. ▪ PERFORMANCE: G (green) - Goals/Major Objectives Will Be Achieved; Y (yellow) - Goals/Several Major Objectives in Jeopardy; and R (red) - Goals Will Not Be Achieved. • Summary of each active 2nd-level WBS element: ▪ Total budget and remaining budget ▪ Expenditure for the month in focus ▪ Estimated % work complete ▪ Brief list of activities/deliverables completed that month ▪ Brief list of activities anticipated in the next month ▪ Brief list of outstanding issues/comments requiring USDOT attention ▪ Status of each deliverable—including the outline, the draft (or interim) version, and the final version • Risk Management Log • Monthly invoices for work performed – due each month, beginning with the end of the first month after Contract award. The Contractor shall attend a project closeout meeting in the Washington, DC area the last week of the project. The Contractor shall present a summary of work performed under each task, the status of each deliverable, and identify pending or incomplete deliverables, and the total funds expended.
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Over Budget. If the apparent lowest responsive and responsible bid on the Project exceeds the District’s stipulated project construction budget by more than five percent (5%) after consideration of any deductive alternate bid items, District may request Architect to amend, at Architect's sole cost and expense, the Final Drawings and Specifications in order to rebid the Project and receive a lowest responsive and responsible bid equal to or less than the stipulated project construction budget. All revisions necessary to bring the lowest responsible and responsive bid within the stipulated project construction budget, including deletions, deferrals or alternates, shall be made in consultation with, and subject to the approval of, the District and shall constitute the limit of Architect’s responsibility under this paragraph.
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Over Budget. In the event the total of the lowest responsible construction bids and construction observation costs for the Trunk Sewer Lines collectively exceeds the sum of $11,200,000, then the City and Parcel Owners will meet to determine whether (i) the City should reject the bid(s) and rebid one or both of the Trunk Sewer Lines in hopes that rebidding will cause the collective sum to be equal or less than $11,200,000; (ii) an alternative design can be identified that could meet the public’s interest while reducing costs; or
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Over Budget. If the apparent lowest responsive and responsible bid on the Project exceeds the Architect’s Final Estimate by more than ten percent (10%), WestEd may request Architect to amend, at Architect’s sole cost and expense, the Design Development Documents Final Drawings and Specifications other specifications in order to rebid the Project and receive a lowest responsive and responsible bid equal to or less than the Architect’s Updated Project Budget Final Estimate. All revisions necessary to bring the lowest responsible and responsive bid within the Architect’s Updated Project Budget Final Estimate, including any omissions, deferrals or alternates, shall be made in consultation with, and subject to the approval of, WestEd.
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Over Budget. Only those Fixed Cost(s) Over Budget which ▇▇▇▇▇ Source receives notice of and approves shall be subject to reimbursement by ▇▇▇▇▇ Source under this Agreement.
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Related to Over Budget

  • Annual Budget For the partial year period commencing on the date hereof, and for each calendar year thereafter, the Borrower shall submit to Lender an Annual Budget not later than sixty (60) days prior to the commencement of such period or calendar year in form reasonably satisfactory to Lender, or for so long as an Operating Lease remains in effect, no later than five (5) Business Days after a budget is delivered to Borrower by an Operating Lessee pursuant to the terms of an Operating Lease. The Annual Budget submitted for the calendar year in which a Trigger Event occurs, and for each calendar year thereafter during a Trigger Period, shall be subject to Lender's written approval, which approval shall not be unreasonably withheld (each such Annual Budget as approved by Lender, an "Approved Annual Budget"). In the event that Lender objects to a proposed Annual Budget submitted by Borrower or an Operating Lessee, Lender shall advise Borrower of such objections within thirty (30) days after receipt thereof (and deliver to such party a reasonably detailed description of such objections) and Borrower shall promptly revise, or cause Operating Lessee to revise, such Annual Budget and resubmit the same to Lender. Lender shall advise Borrower of any objections to such revised Annual Budget within ten (10) days after receipt thereof (and deliver to Borrower a reasonably detailed description of such objections) and Borrower shall promptly revise, or cause Operating Lessee to revise, the same in accordance with the process described in this subsection until the Lender approves the Annual Budget. Until such time that Lender approves a proposed Annual Budget, the most recently Approved Annual Budget shall apply; provided that, such Approved Annual Budget shall be adjusted to reflect actual increases in real estate taxes, insurance premiums and utilities expenses.

  • Budget 1. The Grantee budget for grant activities for the 2022 Summer Program and State fiscal year 2023 is $579,403. Any funds received under this grant will not be used to supplant funds normally budgeted for programs or service of the same or similar type. 2. The Grantee may transfer funds among its administrative budget line items as required to carry out the purposes of the grant. Transfer of funds within specified budget categories do not require approval from OSHE (i.e. moving funds from one counselor position to pay for another), however, any transfer of funds from one category to another will require prior approval from OSHE and will be treated as a modification to the program’s contract Attachment. 3. Any request for a budget modification must be in writing and must include a revised budget. All budget revisions and modifications must be in accordance with the EOF Regulations, Section N.J.A.C. 9A:11-6.11. The Grantee will be liable for all unapproved debts.

  • Approved Budget (a) On the last Thursday of each month after the Second Amendment Effective Time, on or before 12:00 pm (New York City time) on such Thursday, Administrative Borrower shall prepare and deliver to the Administrative Agent, for review and approval by the Required DDTL Approving Lenders, an updated week-by-week operating budget for the then subsequent month (each a “Budget” and, once approved as set forth below, the “Approved Budget”), which shall reflect Administrative Borrower’s good faith projection, for the Borrowers and their respective Restricted Subsidiaries, of (a) all weekly receipts (including from asset sales) and expenditures (including ordinary course operating expenses and any other fees and expenses related to the Loan Documents) in connection with the operation of their businesses, (b) weekly disbursements, and (c) net cash flow, in each case, for such month. The Budget delivered during the week of March 4, 2024 shall be the Approved Budget for March 2024. Together with delivery of the Budget, Administrative Borrower shall provide the Administrative Agent (for subsequent delivery to the Lenders) a variance report (“Variance Report”) in a form and substance reasonably acceptable to the Required DDTL Approving Lenders, comparing the actual receipts, disbursements, and net cash flow for such month through the immediately preceding week compared to the Approved Budget, both in dollar ($) and percentage (%) figures and an explanation of the variance. Each week promptly after the delivery of the Variance Report, the Borrower’s senior management and financial professionals shall review the Variance Report in detail during a telephonic conference with the Lenders. If the proposed Budget was timely delivered and contains the requisite information, the Lenders shall have until 2:00 p.m. (New York City Time) on the first Business Day of the following week to review any Budget after which time such Budget shall become an Approved Budget for all purposes hereunder; provided, no such Budget shall become an Approved Budget if reasonably objected to in writing (which may include e-mail) during the review period by the Administrative Agent (at the direction of the Required DDTL Approving Lenders) or Required DDTL Approving Lenders. (b) In the event that an event or circumstance occurs in between the monthly dates on which the Budgets are otherwise due pursuant to Section 6.24(a) which would make the then current Budget materially inaccurate, within two (2) Business Days of becoming aware of such event or circumstance, the Administrative Borrower shall provide notice of such event or circumstance to the Administrative Agent and the Lenders and promptly deliver a revised Budget reflecting the impact thereof. Without limiting the foregoing, the Budget shall be updated, modified or supplemented by the Administrative Borrower with the written consent of the Administrative Agent (at the direction of the Required DDTL Approving Lenders), and upon the request of the Administrative Agent (at the direction of the Required DDTL Approving Lenders) from time to time. (c) Each Budget delivered to the Administrative Agent and the Lenders shall be accompanied by such supporting documentation as reasonably requested by the Administrative Agent (at the direction of the Required DDTL Approving Lenders) and shall be prepared in good faith, with due care and based upon assumptions the Borrower believe to be reasonable. (d) Within one (1) Business Day of any Loan Party having knowledge of their occurrence or existence, Administrative Borrower shall provide the Administrative Agent and Lenders with written notice of any event or condition which is reasonably likely to entail expenditures of more than $100,000 which is not included in the Approved Budget (including, but not limited, on account of an accident, environmental event or other unanticipated occurrence) or which would otherwise be reasonably likely to have a negative impact on the value of the Loan Parties’ and their Subsidiaries’ assets or future business prospects or a similar event.

  • Program Budget A) Contractor will expend funds received for operation of its program and services according to Contractor’s annual operating budget. The portions of said budget, which reflect services performed or money paid to Contractor pursuant to this Agreement shall be subject to the approval of the Human Services Agency. B) In the event Contractor determines a reasonable business necessity to transfer funding between personnel and operating expenses specified in the budget submitted to the Human Services Agency the following will apply: 1. Contractor will notify the Human Services Agency of transfers that in the aggregate are between ten percent (10%) and twenty percent (20%) of the maximum contract amount.