Approved Development Budget Sample Clauses

Approved Development Budget. Morgans and DLJMB acknowledge and agree that the timely completion of the Expansion Project (as defined in the LLC Agreement) is critical to the success of the joint venture contemplated by this Agreement. Morgans and DLJMB covenant and agree to use good faith and diligent efforts to cooperate with each other to finalize the preliminary development budget for the Expansion Project attached hereto as Exhibit K.

Approved Development Budget. Section 1.1(g) of the DDLA is deleted in its entirety and replaced with the following:

Approved Development Budget. The Development Budget attached as Exhibit B to the Loan Agreement is hereby replaced with the updated Approved Development Budget attached hereto as Exhibit 1, incorporated into the Loan Agreement by this reference.

Approved Development Budget. Exhibit B attached to the Loan Agreement is deleted in its entirety and replaced with the Development Budget attached as Exhibit B to this Agreement.

Approved Development Budget. Prepare and submit for the Approval of the Owner the proposed budget with respect to the completion of the Project, setting forth in detail all development costs, including the breakdown of total estimated Construction Costs into all appropriate categories which categories include, without limitation, Construction Related Hard Costs, Construction Related Soft Costs and appropriate contingency amounts as necessary for the financing of the Project.

Approved Development Budget. The Approved Development Budget shall not be amended without the Approval of the Owner and the Development Manager shall, subject to variation Approved by the Owner, adhere to the Approved Development Budget in respect of the services to be performed by it covered by such Approved Development Budget. For greater certainty, if the Approved Development Budget cannot be met, the Development Manager shall be required to prepare and submit an amended budget for the Approval of the Owner.