Common use of Updates to Budget - General Clause in Contracts

Updates to Budget - General. If Developer believes that any material modifications to the Budget are necessary after the FCRHA approves the Budget, then Developer may propose a modified Budget to the FCRHA for the FCRHA’s approval. Modifications to the Budget shall be deemed “material” if such modifications would result in (1) an adjustment of more than ten percent (10%) in any line item of the Budget or (2) an increase in the total Budget.

Updates to Budget - General. If Developer Xxxxxxxxx believes that any material modifications to the Budget are necessary after the FCRHA approves the Budget, then Developer Xxxxxxxxx may propose a modified Budget to the FCRHA for the FCRHA’s approval. Modifications to the Budget shall be deemed “material” if such modifications would result in (1) an adjustment of more than ten percent (10%) in any line item of the Budget or (2) an increase in the total Budget.