Common use of Extraordinary Expenditures Clause in Contracts

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. 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.