Common use of Budget Overruns; Program Changes Clause in Contracts

Budget Overruns; Program Changes. The Operator shall immediately notify the Management Committee of any material departure from an adopted Program and Budget. The Operator shall not exceed an adopted Budget by more than 10% unless directly caused by an emergency or unexpected expenditure made pursuant to Section 9.8 or unless otherwise authorized by the Management Committee. Budget overruns shall be borne by the Participants in proportion to their respective Participating Interests as of the time the overrun occurs.

Budget Overruns; Program Changes. The Operator shall immediately notify the Management Committee of any material departure from an adopted Program and Budget. The If the Operator shall not exceed an adopted Budget by more than 10% unless directly caused by an emergency or unexpected expenditure made pursuant to Section 9.8 or unless otherwise authorized by exceeds Budget, then the Management Committee. Budget overruns excess shall be borne by for the account of the Participants in proportion to their respective Participating Interests as Interests, unless the overrun is due to the gross negligence or wilful default of the time the overrun occursOperator.