Construction Budget definition

Construction Budget means the fully-budgeted costs for the acquisition and construction of a given parcel of real property (including, without limitation, the cost of acquiring such parcel of real property, reserves for construction interest and operating deficits, tenant improvements, leasing commissions, and infrastructure costs) as reasonably determined by the Parent in good faith.

Construction Budget means the cost of acquisition, installation, testing, constructing and developing any Property as determined by the Construction Agent in its reasonable, good faith judgment.

Construction Budget means University's written statement of funds available to pay for the cost of construction.

Examples of Construction Budget in a sentence

• In addition, DISTRICT shall adjust the Project Construction Budget, and the Project Schedule by an amount determined by DISTRICT after consultation with ARCHITECT.

• ARCHITECT shall prepare the Schematic Design Documents based on the Construction Budget set forth in Exhibit “E.” ARCHITECT shall provide a design which reasonably can be built within the Construction Budget.

• If the Bid Price, obtained by bidding consistent with the Project Schedule and Scope, exceeds the Construction Budget and the District chooses to award the Project the Architect is not entitled to additional fees due to the increased construction cost.

• If the Bid Price for a bid package on which DISTRICT requested additional bid alternatives exceeds the Construction Budget for that work by more than ten percent, then ARCHITECT will not be compensated as an Additional Service for preparing the requested bid alternatives.

• If at the conclusion of each estimate reconciliation meeting, the reconciled construction estimate is greater than five percent (5%) over the established Construction Budget, the ARCHITECT will develop and propose cost reduction measures in order to realign the design with the established Construction Budget.

More Definitions of Construction Budget

Construction Budget means the budget available for total Construction Cost, determined or approved in writing by the City; provided that, as at the time of signing this Agreement, the Construction Budget (the “preliminary Construction Budget”) is as set out in Schedule C.

Construction Budget means the fully-budgeted costs for the acquisition and construction of a given piece of real property (including without limitation, the cost of acquiring such piece of real property (except to the extent any portion thereof is Unimproved Land included in the immediately following clause (iv)), reserves for construction interest and operating deficits, tenant improvements, leasing commissions, and infrastructure costs), as reasonably determined by the Borrower in good faith and (y) real property under construction to be (but not yet) acquired by the Borrower or a Subsidiary upon completion of construction pursuant to a contract in which the seller of such real property is required to complete construction prior to, and as a condition precedent to, such acquisition, shall be subject to this subsection;

Construction Budget is defined in Section 2.4 of the Construction Agency Agreement.

Construction Budget means the budget amount established by the District, representing the maximum authorized cost for construction of the Project. The Construction Budget does not include fees for professional architectural and engineering services, District inspection, or testing and inspection services.

Construction Budget means that portion of the 'Project Budget' applicable to a Construction Contract;

Construction Budget means that amount which is announced after the deadline for the receipt of bids, but prior to the opening of bids.

Construction Budget means, in the aggregate, the fully budgeted total cost to develop the property under construction, including the acquisition cost of land as reasonably determined by Borrower in good faith.