PROGRAMME AND BUDGET Sample Clauses

PROGRAMME AND BUDGET. If — (a) within six (6) months after receipt of the notice mentioned in Section 15.01 the parties fail to produce a mutually agreed programme and budget for the purposes of Section 15.02 or — (b) within six (6) months after identifying and proving the subterranean water source the parties fail to produce a mutually agreed programme and budget for the purpose of Section 15.03 — then the latest proposal of the State in respect of such programme and budget will in either case be deemed to be the mutually agreed programme and budget for the purposes of Section 15.02 or Section 15.03 (as the case may be) unless the Joint Venturers within the time fixed in the paragraph (a) or paragraph (b) of this Section 15.04 (as the case may be) refer the matter to arbitration under Section 32.01 but nothing contained in this Section will effect the obligation of the State at the Joint Venturers’ expense to comply with Section 15.02.
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PROGRAMME AND BUDGET. If — (a) within six (6) months after receipt of the notice mentioned in Section 15.01 the parties fail to produce a mutually agreed programme and budget for the purposes of Section 15.02 or — (b) within six (6) months after identifying and proving the subterranean water source the parties fail to produce a mutually agreed programme and budget for the purpose of
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PROGRAMME AND BUDGET. 7.1 A Work Programme and Budget for the Joint Operations detailed in Exhibit "B" has been approved by all of the Parties. Subject to clause 7.2, such approval shall authorise and oblige the Operator to carry out such Work Programme and make expenditures within the limits of such agreed Budget. 7.2 Approval of an AFE by the Management Committee shall be required before any expenditure is incurred by the Operator except in the case of Licence fees and support costs. Approval of an AFE shall authorise and oblige the Operator to carry out the work detailed therein. 7.3 At any time any Party may by notice to the other Parties propose that the approved work programme and budget or any AFE be amended. To the extent that an amendment is approved in writing by the Management Committee the work programme and budget or AFE shall be deemed amended accordingly provided always that any such amendment shall not invalidate any authorised commitment for expenditure made by the Operator prior thereto. 7.4 Promptly following the award of a Licence pursuant to an Application the Operator shall submit to the Licensees a proposed work programme and budget on an Accrual, Basis by Quarter, relating to operations under the Licence for the remainder of the Year then current. In the period prior to the execution of the JOA, the Operator shall, not later than 1st September in each Year, submit to the Parties a proposed work programme and budget for the following Year. The Management Committee shall promptly review each proposed work programme and budget and make such revisions thereto as may be agreed as soon as practicable with a view to approving such work programme and budget within thirty (30) days of the award of such Licence (in the case of the first work programme and budget) and within sixty (60) days of its submission by the Operator (in the case of subsequent work programmes and budgets). Subject to clause 7.2, such approval shall authorise and oblige the Operator to carry out such work programme. 7.5 The Operator shall not be required to obtain any further approval from the Management Committee in respect of over-expenditure not exceeding 10% of the AFE (or budget where no AFE is required) provided that nothing herein shall entitle the Operator to incur expenditure in respect of any item or work not included in any approved work programme (unless incurred under clause 4.9 hereof).
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Related to PROGRAMME AND BUDGET

  • Business Plan and Budget As soon as available, but in any event no later than forty five (45) days after the end of each fiscal year of the Borrower, an annual business plan and budget of the Borrower and its Subsidiaries on a Consolidated basis, including forecasts prepared by management of the Borrower, in form reasonably satisfactory to the Lender, of Consolidated balance sheets and statements of income or operations and cash flows of the Borrower and its Subsidiaries on a quarterly basis for the then current fiscal year. As to any information contained in materials furnished pursuant to Section 6.02(d), the Borrower shall not be separately required to furnish such information under Sections 6.01(a) or (b) above, but the foregoing shall not be in derogation of the obligation of the Borrower to furnish the information and materials described in Sections 6.01(a) and (b) above at the times specified therein.

  • Budget Consulting Engineer/Architect shall advise City if, in its opinion, the amount budgeted for construction is not sufficient to adequately design and construct the improvement as requested.

  • Timeline Contractor must perform the Services and deliver the Deliverables according to the following timeline:

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