Approved Programme and Budget Sample Clauses

Approved Programme and Budget. (a) Within 28 days after provision by the Manager of a Proposed Programme and Budget (or in the case of the first Year, within 128 days of the Commencement Date) the Management Committee may determine, the Management Committee must meet (as many times as necessary) and discuss the Proposed Programme and Budget for the next Year, or appropriate period and adopt, with or without amendment, an Approved Programme and Budget for that Year or period. (b) Subject to the prior approval by the Management Committee to the awarding of all contracts in accordance with the procedure set out in Schedule 6 and the approval of AFEs in accordance with clause 8.3, once the Proposed Program and Budget is approved by the Management Committee, the Manager is authorised to undertake all Joint Venture Activities and incur all Joint Venture Expenditures referred to therein and must implement the Approved Programme and Budget, and give a copy to each Joint Venturer. (c) An Approved Programme and Budget may be amended by the Manager with the approval of the Management Committee. If the amendments to the Approved Programme and Budget are material, the approval must be by way of a Unanimous Vote.
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Approved Programme and Budget. (a) Not less than 14 days after provision of a Proposed Programme and Budget, and by no later than 30 days after the provision of the Proposed Programme and Budget or such other time as the Board may determine, the Joint Venturers must meet (as many times as necessary) and discuss the Proposed Programme and Budget for the next calendar Year, or appropriate period and adopt, with or without amendment, an Approved Programme and Budget for that Year or period. (b) Subject to the prior approval by the Board to the awarding of all contracts to a value of more than the Contract Limit, once the Proposed Programme and Budget is approved by the Special Majority Vote of the Board, the Manager must implement the Approved Programme and Budget, and give a copy to each Joint Venturer. (c) An Approved Programme and Budget may only be amended by Special Majority Vote of the Board. (d) If the Board for any reason fails to approve a Proposed Programme and Budget, prior to the commencement of the Year to which it relates, the Board must continue to meet no less frequently than every 10 Business Days and use all reasonable efforts to reach agreement. In the meantime clause 11.2 applies in respect of the Deadlock. (e) During such periods, the Joint Venturers shall continue to contribute Called Sums in accordance with the last Approved Programme and Budget as modified in accordance with clause 11.2.
Approved Programme and Budget. (a) No later than the end of November in each Year or such other month as the Operating Committee may determine, the Operating Committee must meet and discuss the Proposed Programme and Budget for the next Year (or other period) and adopt, with or without amendment, an Approved Programme and Budget for that Year (or other period). (b) Once the Proposed Program and Budget is approved by the Operating Committee, the Operator must implement the Approved Programme and Budget. (c) An Approved Programme and Budget may be amended by the Operator with the approval of the Operating Committee. (d) If the Operating Committee for any reason fails to approve a Proposed Programme and Budget prior to the commencement of the Year to which it relates, the Operating Committee must continue to meet and use all reasonable efforts to reach agreement. In the meantime, the Operator must continue to perform and discharge all its existing obligations as Operator under this Agreement and to Third Parties including, but not limited to, the previous Approved Programme and Budget. For the purpose of avoiding any operational difficulties, pending approval of the Proposed Programme and Budget, the previous Year's approved OPEX Budget shall apply to the new Year. All costs and expenses incurred by the Operator in performing and discharging all its existing obligations shall be charged to the Operations Account. (e) No CAPEX or operational expenditure shall be expended, proposed or approved by the Operating Committee unless such CAPEX or operating expenditure can be satisfied with Revenues or funds available under the CAPEX Facility and/or Additional CAPEX Facility (in the case of CAPEX) or the OPEX Facility (in the case of operational expenditure) without the Mine Owner’s prior written consent (any such excess CAPEX or operational expenditure consented to by the Mine Owner shall hereinafter be referred to as the "Excess CAPEX Expenditure" or "Excess OPEX Expenditure", respectively). Any Excess CAPEX Expenditure or Excess OPEX Expenditure must be approved unanimously by the Operating Committee and, notwithstanding clause 7.6(a), the Mine Owner shall have the casting vote in relation thereto.
Approved Programme and Budget. (a) Not less than 7 days after provision of a Proposed Programme and Budget, and by no later than the end of June in each Year or such other month as the Management Committee may determine, the Management Committee must meet and discuss the Proposed Programme and Budget for the next Year and adopt, with or without amendment, an Approved Programme and Budget for that Year. (b) Once approved, the Manager must implement the Approved Programme and Budget, and give a copy to each Joint Venturer. (c) An Approved Programme and Budget may be amended by the Manager with the approval of the Management Committee.

Related to Approved Programme and Budget

  • Annual Work Plans and Budgets The Recipient shall furnish to the Association as soon as available, but in any case not later than September 1 of each year, the annual work plan and budget for the Project for each subsequent year of Project implementation, of such scope and detail as the Association shall have reasonably requested, except for the annual work plan and budget for the Project for the first year of Project implementation, which shall be furnished no later than one (1) month after the Effective Date.

  • Business Plan and Budget As soon as available, but in any event within sixty (60) days after the end of each fiscal year of the Borrower, an annual business plan and budget of the Borrower and its Subsidiaries on a Consolidated basis, including forecasts prepared by management of the Borrower, in form reasonably satisfactory to the Lender, of Consolidated balance sheets and statements of income or operations and cash flows of the Borrower and its Subsidiaries on a fiscal year basis and, in the case of such forecasted statements of income, on a fiscal quarterly basis for the immediately following fiscal year. As to any information contained in materials furnished pursuant to Section 6.02(f), the Borrower shall not be separately required to furnish such information under Section 6.01(a) or (b) above, but the foregoing shall not be in derogation of the obligation of the Borrower to furnish the information and materials described in Sections 6.01(a) and (b) above at the times specified therein.

  • Program Budget A) Contractor will expend funds received for operation of its program and services according to Contractor’s annual operating budget. The portions of said budget, which reflect services performed or money paid to Contractor pursuant to this Agreement shall be subject to the approval of the Human Services Agency. B) In the event Contractor determines a reasonable business necessity to transfer funding between personnel and operating expenses specified in the budget submitted to the Human Services Agency the following will apply: 1. Contractor will notify the Human Services Agency of transfers that in the aggregate are between ten percent (10%) and twenty percent (20%) of the maximum contract amount.

  • Development Budget Attached hereto as Exhibit "B" and incorporated herein by this reference is the Development Budget in an amount equal to $_____________. Owner acknowledges and represents that the attached Development Budget includes the total costs and expenses to acquire, develop, renovate and construct the Real Property and the Apartment Housing.

  • Development Plan document specifying the work program, schedule, and relevant investments required for the Development and the Production of a Discovery or set of Discoveries of Oil and Gas in the Concession Area, including its abandonment.

  • Budget Consulting Engineer/Architect shall advise City if, in its opinion, the amount budgeted for construction is not sufficient to adequately design and construct the improvement as requested.

  • Approved Budget (a) On the last Thursday of each month after the Second Amendment Effective Time, on or before 12:00 pm (New York City time) on such Thursday, Administrative Borrower shall prepare and deliver to the Administrative Agent, for review and approval by the Required DDTL Approving Lenders, an updated week-by-week operating budget for the then subsequent month (each a “Budget” and, once approved as set forth below, the “Approved Budget”), which shall reflect Administrative Borrower’s good faith projection, for the Borrowers and their respective Restricted Subsidiaries, of (a) all weekly receipts (including from asset sales) and expenditures (including ordinary course operating expenses and any other fees and expenses related to the Loan Documents) in connection with the operation of their businesses, (b) weekly disbursements, and (c) net cash flow, in each case, for such month. The Budget delivered during the week of March 4, 2024 shall be the Approved Budget for March 2024. Together with delivery of the Budget, Administrative Borrower shall provide the Administrative Agent (for subsequent delivery to the Lenders) a variance report (“Variance Report”) in a form and substance reasonably acceptable to the Required DDTL Approving Lenders, comparing the actual receipts, disbursements, and net cash flow for such month through the immediately preceding week compared to the Approved Budget, both in dollar ($) and percentage (%) figures and an explanation of the variance. Each week promptly after the delivery of the Variance Report, the Borrower’s senior management and financial professionals shall review the Variance Report in detail during a telephonic conference with the Lenders. If the proposed Budget was timely delivered and contains the requisite information, the Lenders shall have until 2:00 p.m. (New York City Time) on the first Business Day of the following week to review any Budget after which time such Budget shall become an Approved Budget for all purposes hereunder; provided, no such Budget shall become an Approved Budget if reasonably objected to in writing (which may include e-mail) during the review period by the Administrative Agent (at the direction of the Required DDTL Approving Lenders) or Required DDTL Approving Lenders. (b) In the event that an event or circumstance occurs in between the monthly dates on which the Budgets are otherwise due pursuant to Section 6.24(a) which would make the then current Budget materially inaccurate, within two (2) Business Days of becoming aware of such event or circumstance, the Administrative Borrower shall provide notice of such event or circumstance to the Administrative Agent and the Lenders and promptly deliver a revised Budget reflecting the impact thereof. Without limiting the foregoing, the Budget shall be updated, modified or supplemented by the Administrative Borrower with the written consent of the Administrative Agent (at the direction of the Required DDTL Approving Lenders), and upon the request of the Administrative Agent (at the direction of the Required DDTL Approving Lenders) from time to time. (c) Each Budget delivered to the Administrative Agent and the Lenders shall be accompanied by such supporting documentation as reasonably requested by the Administrative Agent (at the direction of the Required DDTL Approving Lenders) and shall be prepared in good faith, with due care and based upon assumptions the Borrower believe to be reasonable. (d) Within one (1) Business Day of any Loan Party having knowledge of their occurrence or existence, Administrative Borrower shall provide the Administrative Agent and Lenders with written notice of any event or condition which is reasonably likely to entail expenditures of more than $100,000 which is not included in the Approved Budget (including, but not limited, on account of an accident, environmental event or other unanticipated occurrence) or which would otherwise be reasonably likely to have a negative impact on the value of the Loan Parties’ and their Subsidiaries’ assets or future business prospects or a similar event.

  • Annual Budget Prior to the Closing Date, Borrower has submitted and Lender has approved an Annual Budget for the 2014 calendar year (the “Approved Initial Budget”). Borrower shall submit to Lender by November 1 of each year the Annual Budget relating to the Properties for the succeeding calendar year. During the continuance of a Cash Sweep Period, Lender shall have the right to approve each Annual Budget (which approval shall not be unreasonably, conditioned or delayed withheld so long as no Event of Default is continuing). An Annual Budget approved by Lender during a Cash Sweep Period or any Annual Budget submitted prior to the commencement of a Cash Sweep Period, shall each hereinafter be referred to as an “Approved Annual Budget”. In the event of a Transfer of any Property the Approved Annual Budget shall be reduced as reasonably determined by Lender in consultation with Borrower in order to reflect the removal of such Property and the Operating Expenses associated therewith; provided, further, that no such reduction shall be made in the event such Transfer is made in connection with a substitution under Section 2.4.2(a). If Lender has the right to approve an Annual Budget pursuant to this Section 4.3.2, neither Borrower nor Manager shall change or modify the Annual Budget that has been approved by Lender without the prior written consent of Lender (which consent shall not be unreasonably withheld, conditioned or delayed so long as no Event of Default is continuing). The “Monthly Budgeted Amount” for each Payment Date shall mean the monthly amount set forth in the Approved Annual Budget for Operating Expenses for the Interest Period related to such Payment Date, but excluding management fees, Property Taxes that are required to be deposited into the Tax Subaccount pursuant to Section 6.1 and Insurance Premiums that are required to be deposited into the Insurance Subaccount pursuant to Section 6.2. If during any Cash Sweep Period, Borrower has submitted an Annual Budget and such Annual Budget has not been approved prior to the commencement of the calendar year to which such budget relates then the previous Approved Annual Budget shall continue to be deemed to be the Approved Annual Budget for that calendar year.

  • Project Plan Development of Project Plan Upon the Authorized User’s request, the Contractor must develop a Project Plan. This Project Plan may include Implementation personnel, installation timeframes, escalation procedures and an acceptance plan as appropriate for the Services requested. Specific requirements of the plan will be defined in the RFQ. In response to the RFQ, the Contractor must agree to furnish all labor and supervision necessary to successfully perform Services procured from this Lot. Project Plan Document The Contractor will provide to the Authorized User, a Project Plan that may contain the following items: • Name of the Project Manager, Contact Phone Numbers and E-Mail Address; • Names of the Project Team Members, Contact Phone Numbers and E-Mail Address; • A list of Implementation milestones based on the Authorized User’s desired installation date; • A list of responsibilities of the Authorized User during system Implementation; • A list of designated Contractor Authorized Personnel; • Escalation procedures including management personnel contact numbers; • Full and complete documentation of all Implementation work; • Samples of knowledge transfer documentation; and • When applicable, a list of all materials and supplies required to complete the Implementation described in the RFQ. Materials and Supplies Required to Complete Implementation In the event that there are items required to complete an Implementation, the Contractor may request the items be added to its Contract if the items meet the scope of the Contract. Negotiation of Final Project Plan If the Authorized User chooses to require a full Project Plan, the State further reserves the right for Authorized Users to negotiate the final Project Plan with the apparent RFQ awardee. Such negotiation must not substantively change the scope of the RFQ plan, but can alter timeframes or other incidental factors of the final Project Plan. The Authorized User will provide the Contractor a minimum of five (5) business days’ notice of the final negotiation date. The Authorized User reserves the right to move to the next responsible and responsive bidder if Contractor negotiations are unsuccessful.

  • Research Plan The Parties recognize that the Research Plan describes the collaborative research and development activities they will undertake and that interim research goals set forth in the Research Plan are good faith guidelines. Should events occur that require modification of these goals, then by mutual agreement the Parties can modify them through an amendment, according to Paragraph 13.6.

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