Initial Budget. In connection with the first Property Acquisition, the Manager shall prepare a Draft Budget for operation of the properties proposed to be acquired and submit such Draft Budget to Owner with the Proposal as contemplated by Section 9.1. If the Owner approves the Property Acquisition, Owner shall be deemed to have approved the Draft Budget and such Draft Budget shall then constitute the approved Budget as contemplated by Section 3.1.
Appears in 5 contracts
Samples: Management Services Agreement (American Energy Capital Partners, LP), Management Services Agreement (American Energy Capital Partners, LP), Management Services Agreement (American Energy Capital Partners, LP)
Initial Budget. In connection with the first Property Acquisition, the Manager shall prepare a Draft Budget for operation of the properties proposed to be acquired and submit such Draft Budget to Owner with the Proposal as contemplated by Section 9.1. If the Owner approves the Property Acquisition, Owner shall be deemed to have approved the Draft Budget and such Draft Budget shall then constitute the approved Budget as contemplated by Section 3.1.
Appears in 4 contracts
Samples: Management Services Agreement (Energy 11, L.P.), Management Services Agreement (Energy 11, L.P.), Management Services Agreement (Energy 11, L.P.)
