Extraordinary Expenditures Clause Samples
The "Extraordinary Expenditures" clause defines the rules and procedures for incurring expenses that fall outside the normal or budgeted scope of a contract or agreement. Typically, this clause requires prior written approval from a designated party before any such unplanned or unusually large expenses are made, and may set thresholds or categories for what qualifies as extraordinary. Its core function is to control financial risk and ensure oversight by preventing unauthorized or unexpected costs from being incurred without proper review and consent.
Extraordinary Expenditures. At least fourteen (14) days prior to making an expenditure of more than twenty-five thousand dollars ($25,000) for any purpose outside the ordinary course of operation of the Charter School, the Organizer shall provide notice to the Charter Schools Director regarding the payee, the amount, and the nature and purpose of such expenditure. An expenditure for a purpose "outside the ordinary course of operation" shall not include reasonable, good faith budgeted expenses, including start-up costs related to the procurement of land, facilities, and equipment for the Charter School. If the Organizer must make an immediate expenditure in excess of twenty-five thousand dollars ($25,000) due to an unforeseeable emergency that could result in harm to any person or property or that poses health or safety concerns, which expenditure is outside the ordinary course of operation of the Charter School, the Organizer shall notify the Charter Schools Director as soon as practicable, regarding the payee, the amount, and the nature and purpose of such emergency expenditure.
Extraordinary Expenditures. In the event of an emergency arising out of a fire or other event, circumstance or condition that gives rise to a life threatening situation, or a safety, environmental or regulatory noncompliance concern, or that would cause Newco to be in commercial default of a material contract, Crestwood Midstream shall be authorized to take such actions as are necessary and reasonable in the judgment of Crestwood Midstream to mitigate the life threatening situation or safety, environmental, regulatory or default concern. Crestwood Midstream agrees that it shall make diligent efforts (if circumstances permit) to inform Newco of the cause of such emergency and the actions Crestwood Midstream proposes to take in response thereto, as soon as practicable and within 24 hours of such emergency (or immediately, if such emergency involves the presence at the premises of any Company of government or law enforcement representatives). Such notification shall not, however, be a condition limiting Crestwood Midstream’s authority to take any such actions and make any related expenditures. Crestwood Midstream’s costs to mitigate the life threatening safety, commercial default, environmental or regulatory concern (“Extraordinary Expenditures”) shall be reimbursed by Newco except to the extent such emergency was caused by the gross negligence, fraud, willful misconduct of this Agreement by Crestwood Midstream.
Extraordinary Expenditures. Furthermore, the HRRA may, at its sole discretion, impose on the Tenant, as well as other occupants within the Leased Premises, any necessary extraordinary expenditures for the Airport. If, at the HRRA’s sole discretion, those extraordinary expenditures are undertaken, the Tenant shall pay its proportionate share of any extraordinary expenditure, calculated on the basis of the ratio of the frontal footage of the Subleased Premises to the Leased Premises as a whole and applied against the total extraordinary expenditure.
Extraordinary Expenditures. ▇▇▇▇▇▇▇ shall not make any extraordinary expenditures in the course of the business in excess of US $ 100,000.00 (One Hundred Thousand Dollars) without the prior approval the Board of Directors or Managing Members.
Extraordinary Expenditures. During the 30 days preceding this agreement, Seller represents that the Company has not paid bonuses, declared or paid dividends, entered into any employment contract; made any substantial sales or changes in assets; engaged in any extraordinary sales of assets; paid any obligations or liabilities other than current liabilities incurred in the ordinary and usual course of business; mortgaged, pledged or subjected to lien any of the Company's respective property or assets, or entering into any management, consulting or purchase agreements other than in the ordinary course of business.
Extraordinary Expenditures. The Management Team will prepare, within 30 days of Closing of the equity investment by Intermark, an annual budget for submittal to the RiceX Board of Directors for adoption. Any proposed expenditures not included in the budget shall be referred to the Board or a duly authorized committee of the Board for approval or rejection. The parties hereto further agree that all binding contracts, agreements, and commitments for RiceX in excess of Ten Thousand Dollars ($10,000.00 USD), and any expenditures not in the course of RiceX s day-to-day business, shall require dual authorization from members of the Management Team. One such signature shall be from a designated representative of the current senior operating officers of RiceX and a separate signature shall be from a designated representative of Intermark. In the absence of any such representative, a duly signed facsimile authorization may be used. If any such representative is not available, then a separate Board Member may appove.