Common use of Implementation of Budgets and Discretionary Expenditures by CEO Clause in Contracts

Implementation of Budgets and Discretionary Expenditures by CEO. (A) After the Capital Budget has been approved, the Partnership will be authorized, without further action by the Partnership Governance Committee, to make any expenditures specifically identified within such budget; provided, however, that all internal control policies and procedures, including those regarding the required authority for certain expenditures, shall have been followed and that with respect to each capital expenditure above an amount established from time to time by Unanimous Partnership Governance Committee Action there shall have been a Partnership Governance Committee Action approval of the "authority for commitment."

Implementation of Budgets and Discretionary Expenditures by CEO. (A1) After the Capital Budget has been approved, the Partnership will be authorized, without further action by the Partnership Governance Committee, to make any expenditures specifically identified within such budget; provided, however, that all internal control policies and procedures, including those regarding the required authority for certain expenditures, shall have been followed and that with respect to each capital expenditure above an amount established from time to time by Unanimous Partnership Governance Committee Action there shall have been a Partnership Governance Committee Action approval of the "authority for commitment."