Preparation of Proposed Project Budget Sample Clauses

Preparation of Proposed Project Budget. Prior to the beginning of each Operating Year, the Managers shall submit the Project Budget for the Crystals Component to Owner for its review and written approval (subject to DW Member’s rights pursuant to the Joint Venture Agreement). The Managers shall act reasonably and exercise prudent business judgment in preparing each proposed Project Budget. The proposed Project Budget shall include sufficient details, with respect to an estimate of costs and expenses, revenue and profit, and a marketing budget, as may be requested or required by the Board of Directors pursuant to the Joint Venture Agreement. In addition to the foregoing, the Project Budget shall provide a forecast of capital expenditures anticipated for the Crystals Component during the one year subsequent to the subject Operating Year for informational purposes only, so that Owner can reasonably anticipate the subsequent year’s potential expenditure, but the Managers shall be bound to their respective Project Budget for any given Operating Year only.
Sample 1Sample 2
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Preparation of Proposed Project Budget. No later than ninety (90) days prior to the Crystals Component Opening Date, the Retail Manager shall prepare and submit to Owner the Project Budget with respect to the first Operating Year for the Crystals Component for owner’s review and written approval. Thereafter, at least ninety (90) days prior to the beginning of each subsequent Operating Year, the Retail Manager shall prepare and submit to Owner the Project Budget for such Operating Year for the Crystals Component for Owner’s review and written approval. The Retail Manager shall act reasonably and exercise prudent business judgment in preparing the proposed Project Budget.”
Sample 1Sample 2
Preparation of Proposed Project Budget. Prior to the beginning of each Operating Year, Operator shall submit the Project Budget for the Condo-Hotel to Owner for its review and written approval (subject to DW Member’s rights pursuant to the Joint Venture Agreement). Operator shall act reasonably and exercise prudent business judgment in preparing each proposed Project Budget. Each proposed Project Budget shall include sufficient details with respect to an estimate of costs and expenses, revenue and profit, and a marketing budget, as may be requested or required by the Board of Directors, including, but not limited to, revenue and expense projections showing (by Residential Unit type) projected occupancy for Participating Units (and an estimate of proposed room rates for Participating Units) and cash distributions to Owner and all Unit Owners of Participating Units. In addition to the foregoing, each Project Budget shall provide a forecast of capital expenditures anticipated for the Condo-Hotel during the one year subsequent to the subject Operating Year for informational purposes only, so that Owner can reasonably anticipate the subsequent year’s potential expenditure, but Operator shall be bound to the Project Budget for any given Operating Year only.
Sample 1Sample 2
Preparation of Proposed Project Budget. No later than ninety (90) days prior to the Opening Date, Operator shall prepare and submit to Owner the Project Budget for the Condo-Hotel with respect to the first Operating Year for Owner’s review and written approval. Thereafter, at least ninety (90) days prior to the beginning of each subsequent Operating Year, Operator shall prepare and submit to Owner the Project Budget for such Operating Year for the Condo-Hotel for Owner’s review and written approval. Operator shall act reasonably and exercise prudent business judgment in preparing each proposed Project Budget”
Sample 1Sample 2
Preparation of Proposed Project Budget. Prior to the beginning of each Operating Year, each Manager shall submit the Project Budget for its respective Component (other than with respect to any Component, including the Hotel Assets, for which a third party manager is obligated to provide a budget with respect to such Component) to Owner for its review and written approval (subject to DW Member’s rights pursuant to the Joint Venture Agreement). Each Manager shall act reasonably and exercise prudent business judgment in preparing each proposed Project Budget. Each proposed Project Budget shall include sufficient details, with respect to an estimate of costs and expenses, revenue and profit, and a marketing budget, as may be requested or required by the Board of Directors pursuant to the Joint Venture Agreement. In addition to the foregoing, each Project Budget shall provide a forecast of capital expenditures anticipated for the respective Component during the one year subsequent to the subject Operating Year for informational purposes only, so that Owner can reasonably anticipate the subsequent year’s potential expenditure, but Managers shall be bound to their respective Project Budget for any given Operating Year only.
Sample 1
Preparation of Proposed Project Budget. No later than ninety (90) days prior to the Resort Hotel and Casino Opening Date, each Manager shall prepare and submit to Owner the Project Budget with respect to the first Operating Year for its respective Component (other than with respect to any Component, including the Hotel Assets, for which a third party manager is obligated to provide a budget, in which event Managers shall use commercially reasonable efforts to cause the third party manager to prepare and deliver the draft budget in accordance with the applicable management agreement) for Owner’s review and written approval. Thereafter, at least ninety (90) days prior to the beginning of each subsequent Operating Year, each Manager shall prepare and submit to Owner the Project Budget for such Operating Year for its respective Component (other than with respect to any Component, including the Hotel Assets, for which a third party manager is obligated to provide a budget, in which event Managers shall use commercially reasonable efforts to cause the third party manager to prepare and deliver the draft budget in accordance with the applicable management agreement) for Owner’s review and written approval. Each Manager shall act reasonably and exercise prudent business judgment in preparing each proposed Project Budget.”
Sample 1

Related to Preparation of Proposed Project Budget

  • Project Budget A Project Budget shall be prepared and maintained by Grantee. The Project Budget shall detail all costs for which the Grant will be used during the Term. The Project Budget must be approved in writing by the Project Monitor. Grantee shall carry out the Project and shall incur costs and make disbursements of funds provided hereunder by the Sponsor only in conformity with the Project Budget. The current approved Project Budget is contained in Attachment “C”. Said Project Budget may be revised from time to time, but no Project Budget or revision thereof shall be effective unless and until the same is approved in writing by Project Monitor. The funds granted under this Grant Contract cannot be used to supplant (replace) other existing funds.

  • Construction Budget The total amount of funds indicated by the District for the entire Project plus all other costs, including design, construction, administration, and financing.

  • Completion of Project This Grant Agreement shall terminate upon completion of the project and payment of the last invoice.

  • Development Budget Attached hereto as Exhibit "B" and incorporated herein by this reference is the Development Budget in an amount equal to $_____________. Owner acknowledges and represents that the attached Development Budget includes the total costs and expenses to acquire, develop, renovate and construct the Real Property and the Apartment Housing.

  • Annual Budgets The School shall adopt a budget for each fiscal year, prior to the beginning of the fiscal year. The budget shall be in the Idaho Financial Accounting Reporting Management Systems (IFARMS) format and any other format as may be reasonably requested by the Authorizer.

  • Representatives’ Review of Proposed Amendments and Supplements During the period when a prospectus relating to the Offered Shares is required by the Securities Act to be delivered (whether physically or through compliance with Rule 172 under the Securities Act or any similar rule), the Company (i) will furnish to the Representatives for review, a reasonable period of time prior to the proposed time of filing of any proposed amendment or supplement to the Registration Statement, a copy of each such amendment or supplement and (ii) will not amend or supplement the Registration Statement (including any amendment or supplement through incorporation of any report filed under the Exchange Act) without the Representatives’ prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed. Prior to amending or supplementing any preliminary prospectus, the Time of Sale Prospectus or the Prospectus (including any amendment or supplement through incorporation of any report filed under the Exchange Act), the Company shall furnish to the Representatives for review, a reasonable amount of time prior to the time of filing or use of the proposed amendment or supplement, a copy of each such proposed amendment or supplement. The Company shall not file or use any such proposed amendment or supplement without the Representatives’ prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed. The Company shall file with the Commission within the applicable period specified in Rule 424(b) under the Securities Act any prospectus required to be filed pursuant to such Rule.

  • Operating Budget (a) No less than forty-five (45) days prior to the Substantial Completion of each train of the Project, and no less than forty-five (45) days prior to the beginning of each calendar year thereafter, the Borrower shall prepare a proposed operating plan and a budget setting forth in reasonable detail the projected requirements for Operation and Maintenance Expenses for the Borrower and the Project for the ensuing calendar year (or, in the case of the initial Operating Budget, the remaining portion thereof) and provide the Independent Engineer, the Common Security Trustee, and the Senior Facility Agent with a copy of such operating plan and budget (the “Operating Budget”). Each Operating Budget shall be prepared in accordance with a form approved by the Independent Engineer, shall set forth all material assumptions used in the preparation of such Operating Budget, and shall become effective upon approval of the Senior Facility Agent, acting reasonably and in consultation with the Independent Engineer; provided, that if the Senior Facility Agent shall not have approved or disapproved the Operating Budget within thirty (30) days after receipt thereof, such Operating Budget shall be deemed to have been approved; and provided, further that the Senior Facility Agent shall have neither the right nor the obligation to approve costs for Gas purchase contracts for the Project contained in the Operating Budget. If the Borrower does not have an effective annual Operating Budget before the beginning of any calendar year, until such proposed Operating Budget is approved, the Operating Budget most recently in effect shall continue to apply; provided, that (A) any items of the proposed Operating Budget that have been approved shall be given effect in substitution of the corresponding items in the Operating Budget most recently in effect, (B) costs for Gas purchase contracts for the Project shall be as provided by the Borrower and (C) all other items shall be increased by the lesser of (x) two and one-half percent (2.5%) and (y) the increase proposed by the Borrower for such item in such proposed Operating Budget. (b) Each Operating Budget delivered pursuant to this Section 1.12 shall contain Operating Budget Categories, and shall specify for each Fiscal Quarter and for each such Operating Budget Category the amount budgeted for such category for such Fiscal Quarter.

  • Annual Budget Prior to the Closing Date, Borrower has submitted and Lender has approved an Annual Budget for the 2014 calendar year (the “Approved Initial Budget”). Borrower shall submit to Lender by November 1 of each year the Annual Budget relating to the Properties for the succeeding calendar year. During the continuance of a Cash Sweep Period, Lender shall have the right to approve each Annual Budget (which approval shall not be unreasonably, conditioned or delayed withheld so long as no Event of Default is continuing). An Annual Budget approved by Lender during a Cash Sweep Period or any Annual Budget submitted prior to the commencement of a Cash Sweep Period, shall each hereinafter be referred to as an “Approved Annual Budget”. In the event of a Transfer of any Property the Approved Annual Budget shall be reduced as reasonably determined by Lender in consultation with Borrower in order to reflect the removal of such Property and the Operating Expenses associated therewith; provided, further, that no such reduction shall be made in the event such Transfer is made in connection with a substitution under Section 2.4.2(a). If Lender has the right to approve an Annual Budget pursuant to this Section 4.3.2, neither Borrower nor Manager shall change or modify the Annual Budget that has been approved by Lender without the prior written consent of Lender (which consent shall not be unreasonably withheld, conditioned or delayed so long as no Event of Default is continuing). The “Monthly Budgeted Amount” for each Payment Date shall mean the monthly amount set forth in the Approved Annual Budget for Operating Expenses for the Interest Period related to such Payment Date, but excluding management fees, Property Taxes that are required to be deposited into the Tax Subaccount pursuant to Section 6.1 and Insurance Premiums that are required to be deposited into the Insurance Subaccount pursuant to Section 6.2. If during any Cash Sweep Period, Borrower has submitted an Annual Budget and such Annual Budget has not been approved prior to the commencement of the calendar year to which such budget relates then the previous Approved Annual Budget shall continue to be deemed to be the Approved Annual Budget for that calendar year.

  • Construction of Project 11.1.1 Developer agrees to cause the Project to be developed, constructed, and installed in accordance with the terms hereof and the Construction Provisions set forth in Exhibit D, including those things reasonably inferred from the Contract Documents as being within the scope of the Project and necessary to produce the stated result even though no mention is made in the Contract Documents.

  • Project Changes 1.8.1. All changes shall be administered per the UGC. 1.8.2. Upon authorization by the Owner, the Owner or Architect/Engineer will prepare and issue all changes to the Contract affecting cost, scope and/or time as a formal Change Order to the Contract on the standard University of Texas MD Xxxxxxxx Cancer Center Change Order form. The Change Order may include separate change issues, identified as Change Proposals and field orders. 1.8.3. Upon authorization by the Owner, Change Proposals may be issued to the Architect/Engineer for pricing by the Contractor. Contractor shall submit pricing to the Owner within twenty-one (21) days and pricing shall be indicated on the standard Owner "Change in Work Cost Analysis" ("Cost Analysis") form provided in the Pre-Construction Conference Brochure. Contractor may not include a Change Proposal within a Change Order unless the Owner has accepted the Change Proposal. 1.8.3.1. The Contractor shall summarize all costs for each change at each level of subcontractor and supplier by preparing the "Cost Analysis" form, and shall provide each subcontractor's cost summary on separate "Cost Analysis" forms as backup. Additional support documentation from both the Contractor and Contractor’s subcontractors is encouraged, but such will not replace use of the standard form. 1.8.3.2. When the Contractor believes it is entitled to a time extension, Contractor shall so state as part of Contractor’s response to the Change Proposal, including a justifica- tion for a time extension. Owner may grant time extensions only if a Change Proposal affects the activities on the Longest Path of an Owner approved Work Progress Schedule; i.e., when the Work impacts the "Contract Substantial Completion Date". 1.8.3.3. If the Owner’s Project Manager and Contractor cannot mutually agree upon a fair and reasonable cost and time settlement, the Owner’s Project Manager may: 1) Reject the quotation and void the Change Proposal, 2) Issue instructions to the Contractor to proceed on a time and material basis for a price to be determined later not to exceed a fixed maximum dollar and time, or 3) Issue a Unilateral Change Order. 1.8.3.4. The Owner’s Construction Inspector and/or Owner’s Project Manager may issue field orders directly to the Contractor for minor changes to the Contract, which can be negotiated in the field. Pricing backup is at the discretion of the Owner’s Construction Inspector, but pricing backup is required for any field order, the pricing backup is to be outlined on the "Cost Analysis" form. When the Owner and Contractor have signed the field order, the Work is authorized and the field order may be included in the next Change Order. 1.8.4. Request for payment for Change Order work may be submitted only after the Change Order has been fully executed.

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