Budget Process for Phase II Assignment Sample Clauses

Budget Process for Phase II Assignment. The Parties acknowledge that Station Two Subsidiary, as the assignee of Big Rivers, will perform the obligations set forth in Section 14 of the Station Two Operating Agreement (preparation of the Operating Budget) theretofore performed by Big Rivers, as follows: (a) Station Two Subsidiary shall prepare the Operating Budget for the Contract Year as contemplated in the first sentence of Section 14.1 of the Station Two Operating Agreement. Station Two Subsidiary will separately identify therein each item that represents anticipated expenditures associated with (1) a Station Two Improvement, including specification therein whether expenses related to that Station Two Improvement are Xxxxxxxxx Incremental Capital Costs or Xxxxxxxxx Non-Incremental Capital Costs, and (2) a Xxxxxxxxx Incremental Environmental O&M cost. As between Big Rivers and Station Two Subsidiary, special arrangements described in Sections 9.9 and 9.10 below shall apply to all Xxxxxxxxx Incremental Environmental O&M costs and Station Two Improvements. Those distinctions among items in the Operating Budget shall have no meaning, however, as between (x) Xxxxxxxxx and (y) Big Rivers and Station Two Subsidiary. (b) Prior to submittal to Xxxxxxxxx of the Operating Budget for Station Two as contemplated in the last sentence of Section 14.1 of the Station Two Operating Agreement, and in any event on or before November 1 of each Year subsequent to the Phase II Effective Date, Station Two Subsidiary shall submit in writing to each member of the Operating Committee (the composition and operating procedures of which are set forth in Section 8.15 of this Agreement) a proposed Operating Budget for Station Two for the next Year. With respect to operating and maintenance costs, within 30 days after receipt of Station Two Subsidiary's proposed Operating Budget for Station Two, Big Rivers may propose to the Operating Committee modifications to the operating and maintenance cost components of the Operating Budget proposed by Station Two Subsidiary. The Operating Committee shall meet in December and January of each Year to review and discuss the Operating Budget proposed by Station Two Subsidiary and review and approve any modifications thereof proposed by Station Two Subsidiary or Big Rivers. The Operating Committee, by agreement of its members representing Big Rivers and Station Two Subsidiary, may determine to adopt an amendment to the operations and maintenance cost components of the proposed budget, in whi...
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Related to Budget Process for Phase II Assignment

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