Annual Facility Operating Plan and Budget Clause Samples

Annual Facility Operating Plan and Budget. Prior to the ----------------------------------------- Commencement Date, Owner has provided Operator with a copy of the current budget and operating plan for the Project, which until changed as provided in this Section shall be the Annual Operating Plan and Annual Budget for all purposes of this Agreement. Within 60 days after the Commencement Date, and 90 days prior to the beginning of each calendar year thereafter, Operator shall prepare and submit to Owner a proposed annual budget for the remainder of the Operating Year in which the Commencement Date occurs or such calendar year, as applicable, established on a monthly basis, which shall include a separate operating budget and capital budget and shall set forth, in detail reasonably acceptable to Owner, anticipated operations plans and costs, including forecasts of electricity production and corresponding usage of major commodities, repairs and capital improvements (including major maintenance and a cost\benefits analysis for proposed capital improvements), Scheduled Outages, routine maintenance and overhaul schedules, procurement (including equipment acquisitions and spare parts and consumable inventories indicating a breakdown of capital items and expense items), staffing, personnel and labor activities (including unit rates for labor and holidays to be observed), administrative activities, data regarding other work proposed to be undertaken by Operator and regarding expected environmental performance, together with an itemized estimate, in detail reasonably acceptable to Owner, of all Reimbursable Costs to be incurred in connection therewith. Such budget shall be accompanied by an annual operating plan setting forth the underlying assumptions and implementation plans in connection with the budget ("Annual Operating Plan"). Owner shall promptly review Operator's proposed budget and Annual Operating Plan and may require changes, additions, deletions and modifications. Owner and Operator will then meet and use their best efforts to agree upon a final budget and Annual Operating Plan (i) as soon as practicable for the remainder of the Operating Year in which the Commencement Date occurs and (ii) for each subsequent year by sixty days prior to such calendar year. Owner's and Operator's approval of the budget and Annual Operating Plan shall not be unreasonably withheld or delayed. Such final budget ("Annual Budget") and Annual Operating Plan shall remain in effect throughout the applicable calendar year, ...