Common use of Venue Budget Clause in Contracts

Venue Budget. Except to take into account any change orders entered into pursuant to Section 6.5 hereof, a Party shall not voluntarily modify the Venue Budget in any material respect without the prior Approval of the other Parties’ Representatives (i.e., City’s Representative, Club’s Representative and/or BSD Representative, as applicable) such approval not to be unreasonably withheld, conditioned or denied. City will promptly provide Club Representative and BSD Representative with notice of any proposed material change to the Venue Budget for Approval, such Approval not to be unreasonably withheld, conditioned or denied. The Club’s contribution to the Venue shall not exceed $6,000,000 and the City’s contribution for the Venue shall not exceed $29,000,000; provided that City may fund Air Rights Infrastructure Costs pursuant to the Bull Street Agreement as provided in Section 3.2.8 and any such funds available under the Bull Street Agreement shall not be considered a part of the $29,000,000 City contribution. Modifications to the Venue design will be made if deemed necessary to accommodate such a budget. BSD and Club may elect to assume financial responsibility for aspects of the project that may be deemed as desirable that result in additional funding needs in excess of the City contribution of $29,000,000 and Club contribution of $6,000,000 for a total project budget of $35,000,000.

Venue Budget. Except to take into account any change orders entered into pursuant to Section 6.5 6.8 hereof, a Party shall not voluntarily modify the Venue Budget in any material respect without the prior Approval of the other Parties’ Representatives (i.e., City’s Representative, Club’s Representative and/or BSD Representative, as applicable) such approval not to be unreasonably withheld, conditioned or denied. City will promptly provide Club Representative and BSD Representative with notice of any proposed material change to the Venue Budget for Approval, such Approval not to be unreasonably withheld, conditioned or denied. The Club’s contribution to the Venue shall not exceed $6,000,000 and the City’s contribution for the Venue shall not exceed $29,000,000; provided that City may fund Air Rights Infrastructure Costs pursuant to the Bull Street Agreement as provided in Section 3.2.8 and any such funds available under the Bull Street Agreement shall not be considered a part of the $29,000,000 City contribution. Modifications to the Venue design will be made if deemed necessary to accommodate such a budget. BSD and Club may elect to assume financial responsibility for aspects of the project that may be deemed as desirable that result in additional funding needs in excess of the City contribution of $29,000,000 and Club contribution of $6,000,000 for a total project budget of $35,000,000.