Annual Operations Budget definition

Annual Operations Budget means in each Financial Year, the annual operations budget determined by the Trustee under clause 18.2;
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Annual Operations Budget shall have the meaning set forth in Section 4.1.1 of the Agreement.
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Annual Operations Budget shall have the meaning set forth in Paragraph 6.3.2.
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Examples of Annual Operations Budget in a sentence

  • Operator agrees to operate the Nikki Beach Club in accordance with the Standards and the Annual Operations Budget.

  • Owner shall pay to Operator an Incentive Fee equal to (i) ten percent (10%) of the Gross Receipts, plus (ii) ten percent (10%) of those Gross Receipts in excess of the projected income as shown on the Annual Operations Budget from Carriage House Inn room rental and other guest charges.

  • If no Dispute Notice is received by the Independent Engineer, the Annual Operations Budget, as so modified, shall be deemed to be final.

  • Account Funds in the Major Maintenance Reserve Account shall either be used to (i) make a Major Maintenance Payment on each Designated Monthly Date in accordance with the Annual Operations Budget and the Common Agreement or (ii) pay Scheduled Debt Service on any Annual Scheduled Payment Date.

  • All Project Companies shall approve their respective Operating Services Budget under their respective O&M Agreements only in accordance with the Annual Operations Budget and the Financing Documents.

  • The Annual Operations Budget (as defined in the ForeGolf Management Agreement) provided by ForeGolf Manager pursuant to Section 4.2 of the ForeGolf Management Agreement shall be deemed to satisfy Tenant’s obligations to provide the annual operations budget pursuant to Section 17.5 hereof.

  • Operator shall prepare an initial annual operations budget setting forth the projected costs associated with the operations of the Property for the balance of the Fiscal Year (the "Annual Operations Budget") and submit same to the Advisory Committee for its approval, and for ratification by the Member Owners.

  • The Issuer shall deliver the final Annual Operations Budget to the Collateral Agent, the Trustee, the Swap Counterparty, the Independent Engineer and XLCA (it being acknowledged that XLCA shall have no obligation to provide any information provided to it under this Section 2.13(a) to any other Person).

  • In addition, on or before November 30 of each year, Operator shall submit to the Advisory Committee, for its approval and for ratification by the Member Owners, the proposed Annual Operations Budget for the next Fiscal Year.

  • This start-up budget shall cover the initial three (3) months of projected operations and shall be replaced by the Annual Operations Budget for the initial fiscal period of operations when completed as provided for herein.


More Definitions of Annual Operations Budget

Annual Operations Budget means the annual budget in respect of the operation of the Barruecopardo Project, as prepared, amended and presented to the Board from time to time;
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Annual Operations Budget in a format consistent with that specified in the SMMA Operations Manual. Each proposed Annual Operations Budget shall be prepared for the Park as a whole and on a departmental basis, and include existing and approved revenue sources, inventory requirements, routine maintenance repairs and minor alterations (the cost of which can be expensed under generally accepted accounting principles), and other costs and expenses as can be reasonably anticipated for the promotion and operation of the Park for the upcoming Fiscal Year.
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Annual Operations Budget shall have the meaning given to such term in Paragraph 4(g);
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Annual Operations Budget means the annual operations budget delivered by the Issuer to XLCA (if XLCA is the Controlling Party) in accordance with Section 2.13 of the Common Agreement substantially in the form of Exhibit P to the Common Agreement; provided that until an Annual Operations Budget is deemed final in accordance with Section 2.13 of the Common Agreement for a fiscal year, the Annual Operations Budget for such fiscal year shall be the Annual Operations Budget for the fiscal year immediate preceding such fiscal year, provided further that (a) no major maintenance items shall be a part of such temporary budget and (b) provisions allowing for funding in excess of 100% of such budget shall not be applicable to such temporary budget.
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Related to Annual Operations Budget

  • Annual Operating Budget has the meaning set forth in Section 4.11.

  • Annual Operating Plan has the meaning ascribed to it in Section 15.3(b)(i).

  • Budget means a resource, expressed in financial terms, proposed by the Board for the purpose of carrying out, for a specific period, any or all of the functions of the Trust.

  • Annual Operating Expenses for the Class means and will consist only of the following operating expenses of the Series for the Class that are, under generally accepted accounting principles, accruable and deductible from the Series’ assets with respect to the Class for the calendar year involved: (i) investment advisory fees, if any; (ii) Rule 12b-1 distribution fees, if any; and (iii) custodian fees, shareholder servicing fees, administrative and office facilities expenses, professional fees, trustees’ fees and any other operating expenses of the Series with respect to the Class that are recorded or includable in the Series’ statement of operations in accordance with generally accepted accounting principles. Notwithstanding the provisions of the immediately preceding sentence, the Series’ “Annual Operating Expenses” for the Class do not include interest and dividends on securities sold short, amortization of organization expenses, taxes, brokerage commissions, litigation and indemnification expenses or any costs or expenses of or for the Series with respect to the Class that are “extraordinary” as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). Very truly yours, ROYCE & ASSOCIATES, LLC By: /s/ Xxxx X. Xxxxxxxxx Xxxx X. Xxxxxxxxx Chief Operating Officer ACCEPTED: THE ROYCE FUND By: /s/ Xxxx X. Xxxxxxxxx Xxxx X. Xxxxxxxxx Vice President [ROYCE & ASSOCIATES, LLC LETTERHEAD] December 31, 2006 The Royce Fund 0000 Xxxxxx xx xxx Xxxxxxxx Xxx Xxxx, XX 00000 Re: Fee Waiver and Expense Reimbursement - Royce Micro-Cap Fund (Service Class) Gentlemen: Reference is made to the Investment Advisory Agreement dated October 1, 2001 (the “Agreement”) by and between The Royce Fund (the “Fund”) on behalf of Royce Micro-Cap Fund (the “Series”) and Royce & Associates (the “Adviser”). Notwithstanding the provisions of Section 4 (Compensation of the Adviser) of the Agreement, the Adviser hereby waives compensation for services provided by it under the Agreement for the calendar year ending December 31, 2007, and/or agrees to reimburse expenses relating to such calendar year to the Series with respect to the Class in an amount, if any, necessary so that the Series’ “Annual Operating Expenses” for its Service Class of shares (the “Class”) are not more than 1.66% of the Class’ average net assets for such calendar year. The Adviser hereby also waives compensation for services provided by it under the Agreement to the Series with respect to the Class, and/or agrees to reimburse expenses to the Series with respect to the Class for each subsequent calendar year through the year ending December 31, 2015 (but not for any calendar year thereafter) in an amount, if any, necessary so that the Series’ Annual Operating Expenses for the Class are not more than 1.99% of the Class’ average net assets for such calendar year. The Adviser’s obligations to reimburse the Series with respect to the Class hereunder will not apply for any period when the Adviser is not rendering services to such Series under the Agreement.

  • Operating Budget has the meaning given in Section 3.11(a).

  • Annual Budget means the operating budget, including all planned capital expenditures, for the Property prepared by Borrower for the applicable Fiscal Year or other period.

  • Capital Expenditure Budget shall constitute an estimate for the applicable period of the capital expenditures required to (i) accomplish capital enhancement projects included in the most recently approved Strategic Plan, (ii) maintain and preserve the Partnership's assets in good operating condition and repair and (iii) achieve or maintain compliance with any HSE Law.

  • Operating Plan means a plan adopted or amended under this section for the development, redevelopment, maintenance, operation and promotion of a business improvement district, including all of the following:

  • Approved Budget means an annual budget-

  • Revenue Operations Date (ROD) means the date of operation of Metro

  • Business Plan means the information required to be supplied to the

  • CapEx Budget means the annual budget for the Asset Entities taken as a whole covering the planned Capital Expenditures for the period covered by such budget. The CapEx Budget shall not include Capital Expenditures consisting of discretionary expenditures made to acquire fee or easement interests with respect to any Ground Lease Tower Site or Easement Tower Site, or non-recurring expenditures made to enhance the Operating Revenues of a Tower Site.

  • Annual Work Plan and Budget means the work plan and budget approved by the Bank and adopted by the Borrower in accordance with the provisions of Section I.C of Schedule 2 of this Agreement, as said work plan and budget may be modified from time to time with the written agreement of the Bank.

  • Normal operation means all periods of operation except start-up and shutdown operations and maintenance of equipment;

  • Capital Budget has the meaning given in Section 3.11(a).

  • Annual Business Plan means the development plan and budget report for Party B’s Business in the next calendar year which is prepared by Party B with the assistance of Party A pursuant to this Agreement before November 30 of each year.

  • BASE budget means the minimum general fund budget of a district, which includes 80% of the basic

  • Operations Plan means the document by which PURCHASER notifies STATE of the plans and schedule for completing the operations described in the contract. It also contains the names of the subcontractors, PURCHASER's Authorized Representatives, and STATE's Authorized Representatives. Permit means any permit required by a federal, state, or local government agency before operations under this contract may lawfully begin or continue. Permit includes an incidental take permit under the federal Endangered Species Act.

  • Initial Operation means the first integral operation of the complete equipment covered under the Contract with the sub-system and supporting equipment in service or available for service.

  • Production Operations means all operations conducted for the purpose of producing Petroleum from the Development Area after the commencement of production from the Development Area including the operation and maintenance of all necessary facilities therefor.

  • Initial Budget has the meaning set forth in Section 7.06(a).

  • Construction Budget means the fully-budgeted costs for the acquisition and construction of a given parcel of real property (including, without limitation, the cost of acquiring such parcel of real property, reserves for construction interest and operating deficits, tenant improvements, leasing commissions, and infrastructure costs) as reasonably determined by the Parent in good faith.

  • Project area budget means a multiyear projection of annual or cumulative

  • Exploration Operations means operations conducted in the Contract Area pursuant to this Contract in searching for Petroleum and in the course of an Appraisal Programme and shall include but not be limited to aerial, geological, geophysical, geochemical, palaeontological, palynological, topographical and seismic surveys, analysis, studies and their interpretation, investigations relating to the subsurface geology including structural test drilling, stratigraphic test drilling, drilling of Exploration Xxxxx and Appraisal Xxxxx and other related activities such as surveying, drill site preparation and all work necessarily connected therewith that is conducted in connection with Petroleum exploration.

  • Project Year means the 12 month period beginning from the Effective Date and ending 12 months thereafter and each successive 12 month period following thereafter;

  • Maintenance and Operations Revenue or “M&O Revenue” means (i) those revenues which the District receives from the levy of its annual ad valorem maintenance and operations tax pursuant to Section 45.002 of the TEXAS EDUCATION CODE, or other lawful authority, and Article VII § 3 of the TEXAS CONSTITUTION, plus (ii) all State revenues to which the District is or may be entitled under the applicable provisions of the TEXAS EDUCATION CODE or any other statutory provision as well as any amendment or successor statute to these provisions, as applicable, less