Authorization for Expenditures. (a) During the Construction Period, the Company shall review the applications for payment submitted by the general contractor, confirm that all applications for payment are in the form required by the construction contract, and advise the architect and/or engineer (based solely oil the Company’s observations and best judgment based on its review of submitted documentation and on-site inspections) as to the amount of work the Company believes is complete and for which the general contractor is due payment. The Company shall have the right, without obtaining the Approval of the Parties, to approve change order which, in the opinion of the general contractor, are required to avoid an imminent risk of injury or death to persons or damage to property and change orders which do not constitute a Material Change Order. The Company shall obtain prior Approval of the Parties; (i) if the aggregate total of change orders is less than or equal to 60 million yen, then as to any single change order the amount of which shall be greater than or equal to the greater of (a) 10% of any line item total of the Development Budget that the change order affects and (b) 12 million yen; and (ii) if the aggregate total of change orders exceeds 60 million yen, then as to all such change orders (hereinafter any of the change orders for which the Approval of the Parties is required is referred to as a “Material Change Order”).
(b) During the Operating Period, except for expenditures made and obligations incurred pursuant to a Budget, as revised or exceeded pursuant to Section 5.4(g) or 8.7(b)(iii), or pursuant to Section 5.9, the Company shall not make any expenditure or incur any obligation unless previously approved as provided herein, provided that the Company shall have the right, without such approval, to make expenditures and incur obligations not authorized by a Budget (i) to the extent necessary to pay utilities, taxes, and insurance premiums to the extent such charges exceed the amounts budgeted therefor in the applicable Budget, (ii) to pay for other non-capital expenditures in an amount up to 10% or cumulative expenditures of 6 million yen (whichever is less) in excess of the amount authorized for each Project under the applicable Budget for such expenditures, (iii) to pay for annual capital expenditures for each Project of up to 12 million yen in the aggregate for items not contemplated in, or in excess of amounts reserved for certain line items in, the applicable Budget or ...
Authorization for Expenditures. Except for expenditures made and obligations incurred pursuant to a Budget, as revised or exceeded pursuant to Section 8.7 or 8.8, the Operating Member shall not make any expenditure or incur any obligation on behalf of the Company unless previously Approved by the Members, provided that the Operating Member shall have the right, without the prior Approval of the Members, to make expenditures and incur obligations not authorized by a Budget (i) to the extent necessary to pay utilities, taxes, and insurance premiums to the extent such charges exceed the amounts budgeted therefor in the applicable Budget, (ii) to pay for other non-capital expenditures in an amount up to 10% or cumulative expenditures of $25,000 (whichever is less) in excess of the amount authorized under the Applicable Budget for such expenditures or (iii) to pay for annual capital expenditures of up to $50,000 in the aggregate for items not contemplated in, or in excess of amounts reserved for certain line items in, the applicable Budget. The Operating Member will be reimbursed for out of pocket expenses incurred on behalf of the Company. The Operating Member may from time to time seek broader fiscal authority from the Members when it is appropriate to do so in connection with the performance of its duties hereunder. In any event, the Operating Member shall not expend more than the amount the Operating Member in good faith believes to be the fair and reasonable market value at the time and place of contracting for any goods purchased or services engaged on behalf of the Company.
Authorization for Expenditures. Service Provider is hereby authorized and directed to make any and all expenditures necessary to provide the Services.
Authorization for Expenditures. Except as may be specifically set forth in this Agreement or otherwise disclosed to the Purchaser in writing, the Vendor has not received or prepared any authorizations for expenditures pursuant to which expenditures are or may be made, nor any other financial commitments which are now outstanding or due, or hereafter may become due in respect of the Assets or operations in respect thereof for which the Purchaser shall become liable to pay;
Authorization for Expenditures. Seller shall, or Seller shall cause the Company or any of the Subsidiaries to, use commercially reasonable efforts to make $2,700,000 of Budgeted Expenditures; provided that if Seller, the Company or the Subsidiaries fail to make $2,700,000 Budgeted Expenditures prior to the Effective Date, the Purchase Price shall, in accordance with the terms of Section 2.01, be adjusted downwards by the excess of $2,700,000 over the aggregate amount of Budgeted Expenditures made.
Authorization for Expenditures. Pursuant to its authority hereunder, the Administrative Member shall make such expenditures or incur such obligations on behalf of the Company as necessary or appropriate to own, develop, lease and operate the Property, provided that the Administrative Member shall not expend more than the amount the Administrative Member in good faith believes to be the fair and reasonable market value at the time and place of contracting for any goods purchased or services engaged on behalf of the Company. The Administrative Member will be reimbursed for its out of pocket expenses incurred on behalf of the Company, including, but not limited to, accounting, legal and other professional fees and expenses. The Administrative Member may from time to time seek broader fiscal authority from the Members when in its reasonable opinion it is appropriate to do so in connection with the performance of its duties hereunder.
Authorization for Expenditures. Operator shall not undertake any single project reasonably estimated to require an expenditure in excess of Fifteen Thousand ($15,000.00) Dollars on behalf of the parties hereto, and provided further that the aggregate amount of those expenditures not in excess of Fifteen Thousand ($l5,000.00) Dollars shall not exceed Thirty Thousand ($30,000.00) Dollars in any sixty (60) day period unless the same:
(i) is authorized by agreement of the parties, or
(ii) is required to keep the Permits in full force and effect but not including the drilling of an obligation well, or
(iii) is required by any law or regulation, or
(iv) is necessary because of an unforeseen contingency endangering the property of the parties, and in the event of any expenditure made under items (ii), (iii) or (iv) above, Operator shall forthwith advise Non-Operator in writing thereof; PROVIDED THAT the approval of the parties of a detailed estimate of the cost of the drilling, reworking, deepening or plugging back of any well shall include approval of all necessary expenditures required therefor and for completing, testing and equipping the same, including necessary flowlines, separators and lease tankage.
Authorization for Expenditures. Except for expenditures made and obligations incurred pursuant to a Budget, as revised or exceeded pursuant to Section 5.4 (c), SECTION 8.7 or 8.9(B)(III), the Operating Member shall not make any expenditure or incur any obligation on behalf of the Company or the Partnership unless previously Approved by the Members, provided that the Operating Member shall have the right, without the prior Approval of the Members, to make expenditures and incur obligations not authorized by a Budget (i) to the extent necessary to pay utilities, taxes, and insurance premiums to the extent such charges exceed the amounts budgeted therefor in the applicable Budget, (ii) to pay for other non-capital expenditures in an amount up to 10% or cumulative expenditures of $25,000 (whichever is less) in excess of the amount authorized under the Applicable Budget for such expenditures or (iii) to pay for annual capital expenditures of up to $50,000 in the aggregate for items not contemplated in, or in excess of amounts reserved for certain line items in, the applicable Budget. The Operating Member will be reimbursed for out-of-pocket expenses incurred on behalf of the Company and/or the Partnership in accordance with an Approved Budget. The Operating Member may from time to time seek broader fiscal authority from the Members when it is appropriate to do so in connection with the performance of its duties hereunder. In any event, the Operating Member shall not expend more than the amount the Operating Member in good faith believes to be the fair and reasonable market value at the time and place of contracting for any goods purchased or services engaged on behalf of the Company and/or the Partnership , and shall, upon request, provide the other Member with reasonable documentation evidencing such expenditures.
Authorization for Expenditures. Notwithstanding any other provision of this Agreement, while acting as a Reasonable and Prudent Operator, Operator may take such steps and incur such expenditures that are reasonably necessary to (a) prevent or reduce any material disruption or delay in the Pipeline’s delivery of capacity in accordance with its then-existing contractual obligations, (b) prevent or reduce any material disruption or delay in operating the Pipeline or (c) satisfy the Operator’s obligation to act as a Reasonable and Prudent Operator under the terms of this Agreement, provided, in each case, that such expenditures, including capital expenditures, shall not result in aggregate expenditures for a Calendar Year exceeding the total expenditures set forth in the Operating Budget by greater than 15% for such Calendar Year and provided further that Operator shall notify Owner in writing as soon as reasonably practicable if the aggregate expenditures incurred, or that Operator reasonably expects will be incurred, will exceed such Operating Budget by such amount. It is understood and agreed that the terms of this Section 3.3 do not apply to expenditures incurred to deal with an Emergency, which are subject to Section 3.2 above.
Authorization for Expenditures. The Administrative Manager shall not make any expenditure or incur any obligation on behalf of the Company unless such amount is included in an Operating Budget previously Approved by the Management Committee or unless such amount has been otherwise previously Approved by the Management Committee or unless such amount is for non-discretionary expenditures such as government charges and fees or bank charges or any other item so long as the total of such other items for any calendar year does not exceed $5,000.00. The Administrative Manager will be reimbursed for out of pocket expenses incurred on behalf of the Company by the Members pro rata in accordance with their Percentage Interests. The Administrative Manager may from time to time seek broader fiscal authority from the Management Committee when in its reasonable opinion it is appropriate to do so in connection with the performance of its duties hereunder. In any event, the Administrative Manager shall not expend more than the amount in good faith believes to be the fair and reasonable market value at the time and place of contracting for any goods purchased or services engaged on behalf of the Company.
