Budget Review Standards Sample Clauses

Budget Review Standards. Without limiting Owner’s approval rights, Owner shall have the right to object to any aspect of any Proposed Operating Plan and Budget, and Manager shall not have the right to use the Dispute Resolution Procedures provided for in Section 10.1, if (among other reasons):
Sample 1
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Budget Review Standards. Without limiting Corporation's approval rights or the obligation of Manager to follow the Hotel Consultant's written recommendations to the extent set forth in Section 2.18.9 herein, Corporation shall have the right to object to any aspect of any proposed operating plan and budget and/or any proposed capital budget if (among other reasons): (a) the objection or change would not materially (i) interfere with Manager's operation of the Hotel in a manner consistent and in compliance with the Operating Standards or (ii) impair Manager's ability to achieve a Performance Test, or (iii) interfere with Manager's fulfillment of its obligations, duties, agreements, covenants or responsibilities under this Agreement; (b) the applicable budget is not consistent with the requirements of an Event Room Block Contract or rates approved by Manager and Corporation for an Event Room Block pursuant to the Room Block Commitment; (c) as to a proposed capital budget, there are not Sufficient Funds available to make the proposed Capital Improvement set forth therein; (d) the proposed operating plan and budget will result in a Debt Service Coverage Ratio of less than the Debt Service Coverage Requirement; (e) as to a proposed capital budget, all or some of the proposed Capital Improvements represent material upgrades to the quality or facilities of the Hotel (as distinct from repairs, maintenance or replacements required to prevent any diminution in quality) that are not, in Corporation's reasonable opinion, required to satisfy the Upper Upscale Rating and each other Operating Standard; and (f) as to a proposed capital budget, any proposed upgrades to the quality of the facilities of the Hotel would (x) be imprudent based upon a reasonable weighing of the costs and benefits to the Hotel of the upgrades (taking into account the cost and impact on Hotel revenue and expense of the upgrades, the useful life of the upgrades, and the remaining term of this Agreement) or (y) render funds in the Renewal and Replacement Fund, the Supplemental Renewal and Replacement Fund, Operating Reserve Fund, Excess Revenues Fund or Cash Trap Fund inadequate for other necessary Capital Expenses or funding of other amounts as contemplated by this Agreement or an existing approved Capital Budget. The foregoing shall not in any way limit Corporation's right to approve a proposed capital budget as to reasonableness of specifications and cost of implementing any upgrade set forth therein. Notwithstanding the...
Sample 1

Related to Budget Review Standards

  • Budget Revisions Grantee shall obtain Prior Approval from Grantor whenever a Budget revision is necessary for one or more of the reasons enumerated in 2 CFR 200.308 or 44 Ill. Admin. Code 7000.370(b). All requests for Budget revisions that require Grantor approval shall be signed by Grantee’s authorized representative and submitted to Grantor for approval. Expenditure of funds under a requested revision is prohibited and will not be reimbursed if expended before Grantor gives written approval.

  • BUDGET REDUCTIONS In the event that the County’s Board of Supervisors adopts, in any fiscal year, a County Budget which provides for reductions in the salaries and benefits paid to the majority of County employees and imposes similar reductions with respect to County Contracts, the County reserves the right to reduce its payment obligation under this Contract correspondingly for that fiscal year and any subsequent fiscal year during the term of this Contract (including any extensions), and the services to be provided by the Contractor under this Contract shall also be reduced correspondingly. The County’s notice to the Contractor regarding said reduction in payment obligation shall be provided within thirty (30) calendar days of the Board’s approval of such actions. Except as set forth in the preceding sentence, the Contractor shall continue to provide all of the services set forth in this Contract.

  • Safety Standards Performance of the Contract for all commodities or contractual services must comply with requirements of the Occupational Safety and Health Act and other applicable State of Florida and federal requirements.

  • Health Insurance Portability and Accountability Act of 1996 This paragraph was intentionally left blank.

  • Health Insurance Portability and Accountability Act Grantee certifies that it is in compliance with the Health Insurance Portability and Accountability Act of 1996 (HIPAA), Public Law Xx. 000-000, 00 XXX Parts 160, 162 and 164, and the Social Security Act, 42 USC 1320d-2 through 1320d-7, in that it may not use or disclose protected health information other than as permitted or required by law and agrees to use appropriate safeguards to prevent use or disclosure of the protected health information. Grantee shall maintain, for a minimum of six (6) years, all protected health information.

  • Prescription Drug Plan Retail and mail order prescription drug copays for bargaining unit employees shall be as follows:

  • Data Portability Operator shall, at the request of the LEA, make Data available including Pupil Generated Content in a readily accessible format.

  • Background and Narrative of Budget Reductions 2. Assumptions Used in the Deficit Reduction Plan: - EBF and Estimated New Tier Funding: - Equal Assessed Valuation and Tax Rates: - Employee Salaries and Benefits: - Short and Long Term Borrowing: - Educational Impact: - Other Assumptions: - Has the district considered shared services or outsourcing (Ex: Transportation, Insurance) If yes please explain:

  • OMB Standards Unless specified otherwise within this agreement, the Subrecipient shall procure all materials, property, or services in accordance with the requirements of 24 CFR 84.40−48.

  • Health and Safety Plan Consultant shall prepare and submit a Health and Safety Plan (“HASP”) for the portion of Consultant’s work that will involve field work, assessments, or investigations of certain Project elements. The HASP shall describe how Consultant plans to complete field work, assessments, and/or investigations at the RWF. Consultant’s HASP must comply with the CIP HASP and shall be updated as new conditions are encountered.

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