City Approvals and Budget Sample Clauses

City Approvals and Budget. Manager shall develop for City’s prior approval an initial operating budget setting forth an estimate of operating revenues and expenses (expenses to include all licenses, taxes, insurance, repairs, improvements, etc. of the Center), which operating budget shall be detailed and shall contain an explanation of operating revenues and expenses, all budget assumptions to be attached as Exhibit B (the “Operating Budget”). Annually, thereafter, Manager shall deliver to the City for its prior approval, no later than forty five (45) days after the end of each calendar year (i.e. February 15th), an operating budget setting forth an estimate of operating revenues and expenses; a statement of cash flows for the Center; and projection of cash receipts and disbursements based upon the proposed expenditures and operating budgets in such detail required by City. The City shall have the right to approve (i) the annual Operating Budget for the Center; (ii) the disposition of real and personal property owned by the City; (iii) rates charged for the use of the Center and related programs, and (iv) the types of activities and uses in the Center. In addition, the City has the right to reduce or waive Center rental fees for events that provide significant economic activity for the community at City’s discretion, and in such case, the calculation of the Incentive Fee shall be made with the amount of such waiver included in the gross revenue even though such amounts are not actually received. Manager shall also develop for the City’s prior approval a pre-opening budget setting forth an estimate of expenses for the start-up expenses of the Manager, including but not limited to furniture, fixtures, equipment, operating capital, operating reserves, and principal, interest and related finance charges (the “Start-up Budget”). The Start-up Budget will also include a schedule of when funds will be needed in the months prior to facility opening, and a list of the sources of the funds. The estimated, initial Manager’s Start-up Budget is as set forth on Exhibit C. Any furniture, fixtures, or equipment purchased pursuant to the Operating Budget or the Start-up Budget shall be the property of the Center. Upon submission of the Operating Budget by the Manager, the City shall review and provide its approval or it may recommend changes specifying in reasonable detail the reasons for such changes. The approval or recommended changes shall be provided to Manager within fifteen
Sample 1Sample 2
AutoNDA by SimpleDocs

Related to City Approvals and Budget

  • City Approval Wherever any approval or consent of the City, or of any of its departments, officials or employees, is called for under this Agreement, the same shall not be unreasonably withheld or delayed.

  • AUTHORITY APPROVALS Except as otherwise indicated elsewhere in this Agreement, wherever in this Agreement approvals are required to be given or received by Authority, it is understood that the CEO, or a designee of the CEO, is hereby empowered to act on behalf of Authority.

  • Project Approvals Borrower will obtain in the ordinary course of business all Project Approvals not heretofore obtained by Borrower (being those listed and described on Part XII of the Project Schedules attached hereto as Exhibit A and any other Project Approvals which may hereafter become required or necessary) and will furnish Agent with evidence that Borrower has obtained such Project Approvals promptly upon its request. Borrower will give all such notices to, and take all such other actions with respect to, such Governmental Authority as may be required under applicable Requirements to construct the Improvements and to use, occupy, operate, and sell Units following the completion of the construction of the Improvements. Borrower will also obtain in the ordinary course of business all utility installations and connections required for the operation and servicing of the Projects for its intended purposes, and will furnish Agent with evidence thereof. Borrower will duly perform and comply with all of the terms and conditions of all Project Approvals obtained at any time, including all Project Approvals listed and described in Parts XII and XIII of the Project Schedules attached hereto as Exhibit A.

  • Regulatory Approvals All Requisite Regulatory Approvals shall have been obtained and shall remain in full force and effect and all statutory waiting periods in respect thereof shall have expired, and no such Requisite Regulatory Approval shall have resulted in the imposition of any Materially Burdensome Regulatory Condition.

  • Approvals and Consent Except as otherwise set out in this Agreement, and subject to any statutory obligations, a Party may give or withhold an approval or consent to be given under this Agreement in that Party’s absolute discretion and subject to any conditions determined by the Party. A Party is not obliged to give its reasons for giving or withholding consent or for giving consent subject to conditions.

  • Project Approval The County may issue a Job Order Authorization for the Work, to include the firm-fixed-price of the Job Order and the project duration. Contractor agrees that all clauses of this Contract are applicable to any Job Order issued hereunder. The County reserves the right to reject a Contractor’s Quote based on unjustifiable quantities and/or methods, performance periods, inadequate documentation, or other inconsistencies or deficiencies on the Contractor’s part in the sole opinion of the County. The County reserves the right to issue a unilateral Job Order authorization for the Work if a Quote price cannot be mutually agreed upon. This is based upon unjustifiable quantities in the sole opinion of the County. The County also reserves the right to not issue a Job Order Authorization if the County’s requirement is no longer valid or the project is not funded. In these instances, the Contractor has no right of claim to recover Quote expenses. The County may pursue continuing valid requirements by other means where Contract was not reached with the Contractor.

  • Approvals and consents Subject to any express provision in this Agreement to the contrary, a Party may conditionally or unconditionally give or withhold any consent to be given under this Agreement.

  • New Project Approval Consultant and District recognize that Consultant’s Services may include working on various projects for District. Consultant shall obtain the approval of District prior to the commencement of a new project.

  • City Council Approval It is agreed that this MOU is of no force or affect until ratified by the City Council of the City of Lompoc.

  • Review and Approval Documents specified above must be submitted for review and approval by CITY Purchasing and Contracts prior to the commencement of work by CONTRACTOR. Neither approval by CITY nor failure to disapprove the insurance furnished by CONTRACTOR shall relieve CONTRACTOR of CONTRACTOR’S full responsibility to provide the insurance required by this Contract. Compliance with the insurance requirements of this Contract shall not limit the liability of CONTRACTOR or its sub-contractors, employees or agents to CITY or others, and shall be in addition to and not in lieu of any other remedy available to CITY under this Contract or otherwise. CITY reserves the right to request and review a copy of any required insurance policy or endorsement to assure compliance with these requirements.

Time is Money Join Law Insider Premium to draft better contracts faster.