Value of Project Clause Samples

The "Value of Project" clause defines the total monetary worth assigned to the project under the contract. It typically specifies the agreed-upon sum that the client will pay to the contractor for completing the scope of work, and may outline how this value is determined or adjusted, such as through change orders or milestone payments. This clause ensures both parties have a clear understanding of the project's financial parameters, helping to prevent disputes over payment and scope by establishing a definitive baseline for compensation.
Value of Project. If the contemplated Project constructed in the tax increment financing district are completed at a lesser level of value than originally contemplated, they will generate fewer taxes and fewer tax increments than originally contemplated.
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Value of Project. If the contemplated Project (as defined in the TIF Agreement) constructed in the tax increment financing district is completed at a lesser level of value than originally contemplated, it will generate fewer taxes and fewer tax increments than originally contemplated.
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Value of Project. In Borrower's judgment, after subtracting the amount of the Senior Loan, the fair market value of the Project is greater than the Payoff Amount.
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Value of Project. Definition phase shall be invoiced upon the Company's approval of the Project Definition document prepared by the Contractor supported by a certificate from the Company's representative.
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Value of Project. Company agrees that to be eligible for the abatement described herein, the County shall be in receipt of a final, non-appealable determination of the Appraisal District of the increased taxable value of the Property in Tax Year 1 (excluding the value of the land and any existing improvements and business personal property) based on the Certificate of Commercial Operations certifying the initial cost of the Property. The Company agrees that the PILOT Payment calculation will be based on the greater of the taxable value of the Property in Tax Year 1 or the minimum projected value of EIGHT HUNDRED MILLION DOLLARS ($800,000,000).
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Value of Project. Company agrees that to be eligible for the abatement described herein, the County shall be in receipt of a final, non-appealable determination of the Appraisal District of the increased taxable value of the Property in Tax Year 1 (excluding the value of the land and any existing improvements and business personal property) based on the Certificate of Commercial Operations certifying the initial cost of the Property. The Company agrees that the PILOT Payment calculation will be based on the greater of the taxable value of the Property in Tax Year 1 or the minimum projected value of EIGHT HUNDRED MILLION DOLLARS ($800,000,000).
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Related to Value of Project

  • Maintenance of Properties (a) Maintain, preserve and protect all of its material properties and equipment necessary in the operation of its business in good working order and condition, ordinary wear and tear excepted; (b) make all necessary repairs thereto and renewals and replacements thereof except where the failure to do so could not reasonably be expected to have a Material Adverse Effect; and (c) use the standard of care typical in the industry in the operation and maintenance of its facilities.