Common use of EXTRAORDINARY EXPENSES Clause in Contracts

EXTRAORDINARY EXPENSES. Unless specifically provided for in the Plan, no single expenditure made for general maintenance or one-time contract service in excess of $5,000.00 shall be allowable without prior written approval of Owner. Pinnacle is required to submit a minimum of three (3) written bids for all expenditures over $10,000.00. However, in the event of an emergency, owner authorizes Pinnacle to authorize any reasonable expenditure which is necessary or required because of danger to life or property, or which is immediately necessary for the preservation and safety of the Project or the safety of the tenants and occupants thereof, or if required to avoid the suspension of any necessary service to the Project, or to comply with any applicable federal, state, or local laws, regulations, or ordinances. Pinnacle shall, however, before the end of the next business day, notify Owner in detail, concerning such expenditures.

EXTRAORDINARY EXPENSES. Unless specifically provided for in the Plan, no single expenditure made for general maintenance or one-time contract service in excess of $5,000.00 shall be allowable without prior written approval of Owner. Pinnacle PINNACLE is required to submit a minimum of three (3) written bids for all expenditures over $10,000.00. However, in the event of an emergency, owner authorizes Pinnacle PINNACLE to authorize any reasonable expenditure which is necessary or required because of danger to life or property, or which is immediately necessary for the preservation and safety of the Project or the safety of the tenants and occupants thereof, or if required to avoid the suspension of any necessary service to the Project, or to comply with any applicable federal, state, or local laws, regulations, or ordinances. Pinnacle PINNACLE shall, however, before the end of the next business day, notify Owner in detail, concerning such expenditures.