Revised Budgets. In connection with each Property Acquisition following the first Property Acquisition, the Manager may prepare an amendment to the then existing approved Budget to reflect the additional costs and expenses associated with the ownership of the Assets proposed to be acquired and submit such proposed revision to the Owner as contemplated by Section 9.1. If the Owner approves the Property Acquisition, Owner shall be deemed to have approved the revision to the Budget and such revised Budget shall then constitute the approved Budget as contemplated by Section 3.2.
Appears in 5 contracts
Samples: Management Services Agreement (American Energy Capital Partners, LP), Management Services Agreement (American Energy Capital Partners, LP), Management Services Agreement (American Energy Capital Partners, LP)
Revised Budgets. In connection with each Property Acquisition following the first Property Acquisition, the Manager may prepare an amendment to the then existing approved Budget to reflect the additional costs and expenses associated with the ownership of the Assets proposed to be acquired and submit such proposed revision to the Owner as contemplated by Section 9.1. If the Owner approves the Property Acquisition, Owner shall be deemed to have approved the revision to the Budget and such revised Budget shall then constitute the approved Budget as contemplated by Section 3.23.1(b).
Appears in 4 contracts
Samples: Management Services Agreement (Energy 11, L.P.), Management Services Agreement (Energy 11, L.P.), Management Services Agreement (Energy 11, L.P.)
