Common use of Annual Operating Budget Clause in Contracts

Annual Operating Budget. At the beginning of each year of the Term, Borrower shall provide to the County an annual budget for the operation of the Development. Unless rejected by the County in writing within fifteen (15) days after receipt of the budget, the budget will be deemed accepted. If rejected by the County in whole or in part, Borrower shall submit a new or corrected budget within thirty (30) calendar days of notification of the County's rejection and the reasons therefor. The provisions of this Section relating to time periods for resubmission of new or corrected budgets will continue to apply until such budget has been approved by the County.

Annual Operating Budget. At least 150 days prior to the beginning end of each year of the Term, Borrower shall provide to the County an annual budget for the operation of the Development. Unless rejected by the County in writing within fifteen (15) days after receipt of the budget, the said budget will shall be deemed accepted. If rejected by the County in whole or in part, Borrower shall submit a new or corrected budget within thirty (30) calendar days of notification of the County's rejection and the reasons therefor. The provisions of this Section relating to time periods for resubmission of new or corrected budgets will shall continue to apply until such budget has been approved by the County.

Annual Operating Budget. At the beginning of each year of the Term, Borrower shall provide to the County an annual budget for the operation of the Development. Unless rejected by the County in writing within fifteen (15) days after receipt of the budget, the budget will be deemed accepted. If rejected by the County rejects the budget in whole or in part, the County's reason(s) for rejecting the budget must be given to Borrower. Borrower shall will then have thirty (30) days to submit a new or corrected budget within thirty (30) calendar days of notification of the County's rejection and the reasons thereforbudget. The provisions of this Section relating to time periods for resubmission of new or corrected budgets will continue to apply until such a budget has been approved by the County.

Annual Operating Budget. At the beginning of each fiscal year of the Term, Borrower shall provide to the County an annual budget for the operation of the Development. Unless rejected by the County in writing within fifteen (15) days after receipt of the budget, the said budget will shall be deemed accepted. If rejected by the County in whole or in part, Borrower shall submit a new or corrected budget within thirty (30) calendar days of notification of the County's rejection and the reasons therefor. The provisions of this Section relating to time periods for resubmission of new or corrected budgets will shall continue to apply until such budget has been approved by the County.