Partnership Budgets Clause Samples
Partnership Budgets. Expenditures made by or on behalf of the Partnership shall be limited to the total amounts reflected in each Partnership Budget unless otherwise authorized by this Agreement or by the ERC, and shall not be subject to monthly, yearly, line item or other intermittent amounts if so reflected; provided, however, that the Managing Partner shall undertake in good faith to manage the day-to-day Partnership operations within such monthly, yearly, line item or other intermittent amounts to the fullest extent reasonably practicable.
Partnership Budgets. 15 Article 5 - Reimbursement and Development Funds and Distribution of Unspent Contingency 5.1 Reimbursement of Development Funds..........................................................17 5.2 Annual Fee..................................................................................17 5.3 Distribution of Unspent Contingency.........................................................17 Article 6 - Allocations of Income, Profits and Losses and Distributions of Cash and Assets 6.1 Income, Profits and Losses..................................................................19
Partnership Budgets