Common use of Permitted Budget Amendments Clause in Contracts

Permitted Budget Amendments. (a) Concurrently with the implementation of any Scope Change, the Company shall submit a Project Budget/Schedule Amendment Certificate and amend the Project Budget in accordance with the provisions of Section 6.4.1(c) below to the extent necessary so that the amount set forth therein for each Line Item Category shall reflect all Scope Changes that have been made to such Line Item Category. (b) The Company may from time to time amend the Project Budget in accordance with the provisions of Section 6.4.1(c) in order to increase, decrease or otherwise reallocate amounts allocated to specific Line Item Categories. (i) The Company shall implement any amendment to the Project Budget by delivering to the Disbursement Agent a Project Budget/Schedule Amendment Certificate together with all exhibits, attachments and certificates required thereby, each duly completed and executed. Such Project Budget/Schedule Amendment Certificate shall describe with particularity the Line Item Category increases, decreases, contingency allocations, and other proposed amendments to the Project Budget. (ii) Increases to the aggregate amount budgeted for any Line Item Category will only be permitted to the extent of (A) allocation of Realized Savings obtained in a different Line Item Category to the extent permitted under Section 6.2.1, (B) allocation of the previously unallocated amounts under the "Construction Contingency" Line Item Category (so long as after giving effect to such allocation the Unallocated Contingency Balance will equal or exceed the Required Minimum Contingency), or (C) allocation of an increase in Available Funds including additional funds deposited in the Company's Funds Account. (iii) Decreases to any Line Item Category will only be permitted upon obtaining Realized Savings in such Line Item Category. (d) Increases and decreases to particular Line Items set forth in column C ("Current Budget") of the Anticipated Cost Report or Column D "(Revised Project Budget") of the Monthly Requisition Report shall be permitted to the extent not inconsistent with the foregoing provisions of Sections 6.4.1(a) and (c) (except that the Company is not required to submit a Project Budget/Schedule Amendment Certificate in connection therewith); provided that increases to the "Hard Cost Construction Contingency" Line Item and the "Soft Cost Construction Contingency" Line Item shall only be permitted to the extent of (x) allocation of Realized Savings obtained in any Line Item Category or (y) an increase in Available Funds including additional funds deposited in the Company's Funds Account.

Permitted Budget Amendments. (a) Concurrently with the implementation of any Scope ChangeChange for any Active Project, the Company shall submit a Project Budget/Schedule Amendment Certificate and amend the Project Budget for such Project in accordance with the provisions of Section 6.4.1(c6.3.1(b) below to the extent necessary so that the amount set forth therein for each Line Item Category shall reflect all Scope Changes that have been made to such Line Item Category. (b) Item. The Company may from time to time amend the Project Budget for any Active Project in accordance with the provisions of Section 6.4.1(c6.3.1(b) in order to increase, decrease or otherwise reallocate amounts allocated to specific Line Items or Line Item CategoriesCategories included in such Project Budget; provided, however, that, after giving effect to such adjustment, such Project shall be capable of being completed in accordance with the Plans and Specifications for such Project and no such adjustment shall modify the Company’s obligation to complete such Project in accordance with the Plans and Specifications for such Project, and the Company shall remain In Balance. (i) The Company shall implement any amendment to the Project Budget for any Active Project by delivering to the Disbursement Agent a Project Budget/Schedule Amendment Certificate together with all exhibits, attachments and certificates required thereby, each duly completed and executed. Such Project Budget/Schedule Amendment Certificate shall describe with particularity the Line Item, or Line Item Category increases, decreases, contingency allocations, and other proposed amendments to the applicable Project BudgetBudget and shall otherwise conform to the requirements of this Agreement. (ii) Increases to the aggregate amount budgeted for any Line Item Category included in any particular Project Budget will only be permitted to the extent of (A) allocation of Realized Savings for an Active Project obtained in a different Line Item Category of such Project Budget or any Realized Savings obtained with respect to the extent permitted under Section 6.2.1any other Active Project, (B) allocation of the previously “unallocated amounts under the "Construction Contingency" Line Item Category contingency” included in such Project Budget (so long as after giving effect to such allocation the Unallocated Contingency Balance for such Project will equal or exceed the Required Minimum ContingencyContingency for such Project), or (C) allocation of an increase in new or previously unallocated Available Funds including additional funds deposited in the Company's Funds AccountFunds. (iii) Decreases to any Line Item Category included in any particular Project Budget will only be permitted upon obtaining Realized Savings in such Line Item Category. (div) Increases and decreases to particular Line Items set forth included in column C ("Current Budget") of the Anticipated Cost Report or Column D "(Revised any particular Project Budget") of the Monthly Requisition Report Budget shall be permitted to the extent not inconsistent with the foregoing provisions of Sections 6.4.1(a) and (c) (except that the Company is not required to submit a Project Budget/Schedule Amendment Certificate in connection therewith); this paragraph or with Section 6.3.1 above, provided that increases to the "Hard Cost Construction Contingency" “unallocated contingency” Line Item and the "Soft Cost Construction Contingency" Line Item for any Project Budget shall only be permitted to the extent of (x) allocation of Realized Savings obtained in any Line Item Category included in any Project Budget for an Active Project or (y) an increase in Available Funds including additional funds deposited in the Company's Funds AccountFunds.

Permitted Budget Amendments. (a) Concurrently with the implementation of any Scope Change, the Company shall submit a Project Budget/Schedule Amendment Certificate and amend the applicable Project Budget in accordance with the provisions of Section 6.4.1(c6.3.1(c) below to the extent necessary so that the amount set forth therein for each Line Item Category shall reflect all Scope Changes that have been made to such Line Item Category. (b) The Company may from time to time amend the Project Budget Budgets in accordance with the provisions of Section 6.4.1(c6.3.1(c) in order to increase, decrease or otherwise reallocate amounts allocated to specific Line Item Categories. (i) The Company shall implement any amendment to the Project Budget Budgets by delivering to the Disbursement Agent a Project Budget/Schedule Amendment Certificate together with all exhibits, attachments and certificates required thereby, each duly completed and executed. Such Project Budget/Schedule Amendment Certificate shall describe with particularity the Line Item Category increases, decreases, contingency allocations, and other proposed amendments to the Project BudgetBudgets. (ii) Increases to the aggregate amount budgeted for any Line Item Category allocated to any particular Project in the applicable Project Budget will only be permitted to the extent of (A) allocation of Realized Savings obtained in a different Line Item Category to the extent permitted under Section 6.2.1Category, (B) allocation of the previously unallocated amounts under the "Construction Contingency" Line Item Category for such Project (so long as after giving effect to such allocation the Unallocated Phase I Contingency Balance will equal or exceed the Required Phase I Minimum Contingency and the Unallocated Phase II Contingency Balance will equal or exceed the Required Phase II Minimum Contingency), ) or (C) allocation of an increase in Available Funds including additional funds deposited in the Company's Funds Account. (iii) Decreases to any Line Item Category allocated to any particular Project in the applicable Project Budget will only be permitted upon obtaining Realized Savings in such Line Item Category. (d) Increases and decreases to particular Line Items set forth in column C ("Current Budget") of the Anticipated Cost Report Reports or Column D ("(Revised Project Budget") of the Monthly Requisition Report Reports shall be permitted to the extent not inconsistent with the foregoing provisions of Sections 6.4.1(a6.3.1(a) and (c) (except that the Company is not required to submit a Project Budget/Schedule Amendment Certificate in connection therewith); provided that increases to the "Hard Cost Construction Contingency" Line Item and the "Soft Cost Construction Contingency" Line Item allocated to any particular Project in the applicable Project Budget shall only be permitted to the extent of (x) an allocation of Realized Savings obtained in any Line Item Category allocated to such Project in the applicable Project Budget or (y) an increase in Available Funds including additional funds deposited in the Company's Funds AccountAccount or (z) solely with respect to the Phase II Project Budget after the Phase I Completion Date has occurred, an allocation of Realized Savings obtained in any Line Item Category in the Phase I Project Budget.

Permitted Budget Amendments. (a) Concurrently with the implementation of any Scope Change, the Company Borrower shall submit a Project Construction Budget/Schedule Timeline Amendment Certificate in the form of Exhibit E hereto and amend the Project Construction Budget in accordance with the provisions of Section 6.4.1(c5.4.1(c) below to the extent necessary so that the amount set forth therein for each Line Item Category shall reflect all Scope Changes that have been made to such Line Item Category. (b) Item. The Company Borrower, with the Administrative Agent’s prior written consent may from time to time amend the Project Construction Budget in accordance with the provisions of Section 6.4.1(c5.4.1(c) in order to increase, decrease or otherwise reallocate amounts allocated to any specific Line Item Categories. (i) Item. The Company Borrower shall implement any amendment to the Project Construction Budget by delivering to the Disbursement Administrative Agent a Project Construction Budget/Schedule Timeline Amendment Certificate in the form of Exhibit E together with all exhibits, attachments and certificates required thereby, each duly completed and executed. Such Project Construction Budget/Schedule Timeline Amendment Certificate shall describe with particularity the Line Item Category increases, decreases, contingency allocations, and other proposed amendments to the Project Construction Budget. (ii) ; and Increases to the aggregate amount budgeted for any Line Item Category will only be permitted permitted: (x) to the extent of (A) allocation of Realized Savings obtained in a different Line Item Category to the extent permitted under Section 6.2.15.2.1, (B) allocation of the previously unallocated amounts under the "Construction a “Contingency" ” Line Item Category (Item, so long as after giving effect to such allocation allocation, the Unallocated Contingency Balance will equal or exceed the Required Minimum Contingency), or (C) allocation of an increase in Available Construction Funds including additional funds deposited in the Company's Construction Funds Account. (iii) Decreases to any Line Item Category will only be permitted upon obtaining Realized Savings in such Line Item Category. (d) Increases and decreases to particular Line Items set forth in column C ("Current Budget") of the Anticipated Cost Report or Column D "(Revised Project Budget") of the Monthly Requisition Report shall be permitted to the extent not inconsistent with the foregoing provisions of Sections 6.4.1(a) and (c) (except that the Company is not required to submit a Project Budget/Schedule Amendment Certificate in connection therewith); provided that increases to the "Hard Cost Construction Contingency" Line Item and the "Soft Cost Construction Contingency" Line Item shall only be permitted to the extent of (x) allocation of Realized Savings obtained in any Line Item Category or (y) an increase in Available Funds including additional funds deposited in to the Company's Funds Accountextent that after giving effect to all increases to the aggregate amount budgeted for any Line Item, together with all decreases to the amount budgeted for any Line Item, the Miami Jai-Alai Facility has a Twenty Percent Cushion.