Common use of Unused Allowance Clause in Contracts

Unused Allowance. Design-Builder shall only be entitled to draw from the Allowance to the extent of proven Extra Work Costs and Delay Costs caused by the Relief Events identified in Section 12.7.1. For the avoidance of doubt, Design-Builder shall not be entitled to any remaining Allowance funds after resolution of all Claims and any such remaining amounts shall be retained by VPRA.

Appears in 2 contracts

Sources: Design Build Agreement, Design Build Agreement