Updated Budgets. As reasonably necessary in accordance with the Standards, and when otherwise requested by Operating Partnership, Property Manager shall prepare and submit to Operating Partnership for Operating Partnership’s approval a proposed updated budget for the Property (broken out for each Property). The applicable (initial or updated) budget is the “Approved Budget”.
Appears in 5 contracts
Samples: Revolving Credit Agreement (Silver Bay Realty Trust Corp.), Property Management Agreement (Silver Bay Realty Trust Corp.), Property Management Agreement (Silver Bay Realty Trust Corp.)
