Operating Expense Budget. If an Event of Default has occurred and is continuing (or will occur upon application of the Available Funds pursuant to Section 2.8(b)), (i) Borrower Representative shall submit to the Agent and the Lenders a proposed quarterly budget of Operating Expenses, with a proposed monthly expense allocation, for Operating Expenses for all Properties and shall by the second month of each calendar quarter submit a quarterly budget for Operating Expenses for the following calendar quarter and (ii) the Agent shall have the right to approve each such proposed quarterly budget of Operating Expenses, proposed monthly expense allocation and each item contained therein in their respective sole and absolute discretion, and upon such approvals such quarterly budget of Operating Expenses shall constitute the “Approved Quarterly Operating Expense Budget” for such calendar quarter.
Operating Expense Budget. The Operating Expense Budget shall identify for the following calendar year the expected Operating Expenses including Direct Costs, Management Fee, and Major Maintenance items.
Operating Expense Budget. Member Agencies shall pay their share of the operating expense budget related to the joint library operation as specified by formula allocation contained in Section 6 (the "Member Agency Cost Allocation"). For purposes of this Agreement, operating expenses shall include the usual and ordinary cost of operation of the Library and the repair and renewal of the Library's physical assets including without limitation expenses of and ordinary additions to the collection and the purchase, installation, and maintenance of technology and programming necessary to provide library services to the Member Agencies. Annual operating expense budget increases shall not exceed the average of the Member Agencies' previous year's levy limits percentage increases, plus one percent (1%), for operating expenses of the Library. Should a Member Agency's levy limit exceed the other Member Agencies levy limits by more than one percent (1%), that Member Agency's levy limit increase shall be removed from the calculation. The Board, moreover, is not required to seek or obtain Member Agencies' approval if the Board presents and adopts an operating expense budget within the 1% limit. Member Agencies, by written unanimous consent, may increase the budgeted allocation beyond the allowable annual increase set forth in this Section 2.
2.1 The Board shall provide the fiscal agent with its annual operating and capital expense budget and Member Agency Cost Allocation, by September 15 each year.
2.2 No expenditures shall be made or contracted for by the Board or any Library employee with respect to any current or proposed item of operating expense until such time that it has been approved by the Board.
2.3 Allannualunspentoperatingmoniesshall beplaced in an operatingfundbalance account with the fiscal agent.
2.4 Should a significant community specific event occur or be requested by a Member Agency served by the Library, and the Library incurs additional costs related to the event, the Member Agency involved shall be responsible for any additional costs incurred.
Operating Expense Budget. Parking Operator shall prepare and submit to the City for its review and approval an annual Operating Expense Budget (hereinafter referred to at the “Budget”), detailed by line item and by month for each upcoming Contract Year or Partial Contract Year during the Term.
6.1.1.1 Only expenses applicable to HAS parking operations and shuttle bus services are permitted to be included in the Operating Expense Budget. Budget approvals and approvals of revisions to the Budget must be made in writing by the Director. Parking Operator will not be reimbursed for any expenses exceeding the total annual approved Budget, as may be revised.
6.1.1.2 The Operating Expense Budget shall be comprised of three types of expenses:
Operating Expense Budget. Section 5.4 is hereby amended by substituting "five percent (5%)" in place of "ten percent (10%)" in both sentences where such phrase appears.
Operating Expense Budget. Operator shall (i) administer and otherwise comply with the budget proposed by Operator and approved by Owner (ii) operate and maintain the Rail Facility in compliance with the Operating and Capital Expenditure Budget established for the Rail Facility; provided, however, if Owner instructs Operator to perform any services outside of the scope of the services contemplated in the Operating and Capital Expenditure Budget (exclusive of those services to be performed by Operator in connection with any necessary alterations or modifications to the Containment Pan System pursuant to Section 4.1.1), then Owner shall reimburse Operator for the costs and expenses associated therewith.
Operating Expense Budget. Landlord shall furnish to Tenant on or before February 1 of each calendar year of the Term, a budget setting forth Landlord's estimate of Operating Expenses for the subject calendar year. Operating Expenses shall be calculated based upon the higher of the actual occupancy of the Building for the calendar year or an assumed occupancy rate of 95%. If there shall be any increase in the Operating Expenses for any calendar year, whether during or after such year, Landlord shall furnish to Tenant a revised budget and the Operating Expenses shall be adjusted and paid or credited, as the case may be. If a calendar year ends after the expiration or termination of this Lease, the Additional Rent payable hereunder shall be prorated to correspond to that portion of the calendar year occurring within the Term.
3.2.1 In no event shall Tenant's Proportionate Share of Operating Expenses, excluding real estate and ad valorem taxes, insurance premiums and elective utility costs increase by more than five percent (5%) over the prior Calendar Year. other index or standard as shall most clearly reflect changes in the cost of living for urban wage earners and which is generally recognized as authoritative by financial and insurance institutions. Thereafter the substitute index shall be the CPI.
Operating Expense Budget. Landlord shall furnish to Tenant on or before February 1 of each calendar year of the Term, a budget setting forth Landlord's estimate of Operating Expenses for the subject calendar year. Operating Expenses shall be calculated based upon the higher of the actual occupancy of the Building for the calendar year or an assumed occupancy rate of 95%. If there shall be any increase in the Operating Expenses for any calendar year, whether during or after such year, Landlord shall furnish to Tenant a revised budget and the Operating Expenses shall be adjusted and paid or credited, as the case may be. If a calendar year ends after the expiration or termination of this Lease, the Additional Rent payable hereunder shall be prorated to correspond to that portion of the calendar year occurring within the Term.
Operating Expense Budget. Parking Operator shall prepare and submit for the Director’s review and approval an annual operating expense budget (hereinafter referred to as the “Budget”), detailed by line item and by month for each upcoming Contract Year or Partial Contract Year during the Term.
6.1.1.1 Only expenses applicable to HAS parking operations are permitted to be included in the Budget. Budget approvals and approvals of revisions to the Budget must be made in writing by the Director. Parking Operator will not be reimbursed for any expenses exceeding the total annual approved Budget, as it may be revised.
6.1.1.2 The Budget shall be comprised of three types of expenses:
Operating Expense Budget. Bus Operator shall prepare and submit to the Director for his review and approval an annual operating expense budget detailed by line item and by month for each upcoming Contract Year throughout the Term (hereinafter referred to as the “Budget”).
5.1.1.1 Only expenses applicable to HAS scheduled bus services are permitted to be included in the Budget. Initial and revise Budget must be made in advance and writing by the Director. Bus Operator will not be reimbursed for any expenses exceeding the approved Budget.
5.1.1.2 The Budget shall be comprised of two types of expenses:
