Approved Annual Operating Budget definition

Approved Annual Operating Budget shall have the meaning set forth in Section 5.1(q).
Sample 1Sample 2
Approved Annual Operating Budget has the meaning set forth in Section 13.7.
Sample 1Sample 2
Approved Annual Operating Budget means the a operating budget approved by the Port Authority as part of the Annual Business Plan pursuant to Section 9.A, and covering the anticipated operating expenses and revenues of the Hotel for the applicable period, maintenance of any reserve amounts required by the Indenture or the Port Authority from time to time, including, as an example, the Extraordinary Expense Fund.
Sample 1

Examples of Approved Annual Operating Budget in a sentence

  • The Approved Annual Operating Budget for each year shall be determined in advance by unanimous agreement of the parties.

  • All wages, benefits and other compensation to be paid to the Staff shall be as set forth in the Approved Annual Operating Budget.

  • To the extent that the amount requested in a Requisition is budgeted in the current Approved Annual Operating Budget for an Asset, or is not in excess of one hundred and five percent (105%) of the budgeted amount, such amount shall be deemed to be approved by Administrative Agent.

  • The staffing levels for employees at the Managed Premises shall be set forth in the Approved Annual Operating Budget and any changes thereto must be approved by Owner in writing.

  • Owner hereby engages Manager and Manager agrees to operate and manage the Managed Premises under the name "One CPS," for the account of, and on behalf of, Owner on an exclusive basis in accordance with the Operating Standard, the Approved Annual Operating Budget and the other terms of this Agreement.

  • Manager shall not permit any such dispute to interfere with the operation of the Managed Premises in accordance with the Operating Standard and the Approved Annual Operating Budget.

  • Manager may draw upon the Reserve Account in accordance with the Approved Annual Operating Budget to pay for replacement FF&E or as otherwise approved by Owner in writing.

  • Such statements shall also provide for reforecasts, showing any anticipated deviations from the Approved Annual Operating Budget.

  • In addition, each Requisition shall contain a certification confirming which amounts requested are, or are not, budgeted in the current Approved Annual Operating Budget.

  • Upon approval of annual operating and capital expenditure budgets by the Board such budgets shall become the Approved Annual Operating Budget or the Approved Annual Capital Expenditure Budget for purposes of this Agreement for the Fiscal Years to which they relate.


More Definitions of Approved Annual Operating Budget

Approved Annual Operating Budget has the meaning set forth in Section 5.1.10(f) hereof, as the same may be modified in accordance with the terms hereof.
Sample 1
Approved Annual Operating Budget shall have the meaning given to such term in Section 9(b). "Bankruptcy" shall mean the occurrence of any of the following events in respect of any Person: (i) the filing of a petition against such Person in an involuntary case under the United States Bankruptcy Code which is not dismissed within sixty (60) days after the filing thereof; or in any such involuntary case, the approval of the petition by such Person as properly filed, or the admission by such Person of material allegations contained in the petition, or (ii) the execution by such Person of a general assignment for the benefit of creditors, or (iii) the commencement of a voluntary case under the United States Bankruptcy Code by such Person, or (iv) the appointment of a receiver, liquidator, administrator, trustee or Person with similar powers for such Person or for all or a substantial part of the assets of such Person, or (v) in the case of a Person which is a corporation, joint venture, partnership, limited liability company or other business entity, the commencement by such Person of liquidation, dissolution or winding-up -2- <PAGE> proceedings, or the commencement against any such Person of a proceeding to liquidate, wind-up or dissolve such Person, which proceeding is not dismissed within sixty (60) days. "Base Building Work" shall have the meaning given to that term in. Section 5(a)(i). "Base Management Fee" shall have the meaning given to that term in Section 6. "Breakfast Service" shall have the meaning given to such term in Section 4. "Cash Flow" shall mean Gross Revenues less all of the costs and expenses incurred by Manager or Owner in the ordinary course of business and consistent with the Approved Annual Operating Budget and the other provisions of this Agreement with respect to Restaurant operations (all such costs and expenses being collectively referred to as the "Operating Expenses") computed on an accrual basis in accordance with generally accepted accounting principles ("GAAP") and the Approved Annual Operating Budget, and, to the extent consistent with the foregoing, the methodology employed in the pro forma Cash Flow statement set forth on Exhibit B which shall include: (1) cost of food; (2) cost of beverages; (3) employment compensation expenses up to and including the level of the Restaurant manager; (4) advertising and promotion expenses for the Managed Premises; (5) cost of decorations; (6) cost of flowers; (7) cost of garbage removal and sanitation; (8) cost of building...
Sample 1
Approved Annual Operating Budget shall have the meaning set forth in Section 11.1.
Sample 1
Approved Annual Operating Budget means, with respect to each Fiscal Year of the LLC, the annual budget for the LLC's operations for the existing Business and for expansions, as approved by the Managers, including any revisions thereto.
Sample 1
Approved Annual Operating Budget shall have the meaning given to such term in Section 9(b).
Sample 1

Related to Approved Annual Operating Budget

  • Approved Annual Budget shall have the meaning set forth in Section 5.1.11(d) hereof.

  • Annual Operating Budget as defined in Section 6.2(c).

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

  • 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.

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

  • 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.

  • Approved Budget means an annual budget-

  • 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 period 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 “acquired fund expenses”, 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, LP By: /s/ Xxxxx X. Xxxxxxx Xxxxx X. Xxxxxxx Chief Financial Officer THE ROYCE FUND By: /s/ Xxxxx X. Xxxxxxx Xxxxx X. Xxxxxxx Treasurer April 29, 2024 The Royce Fund 000 Xxxxx Xxxxxx New York, NY 10151 Gentlemen: Reference is made to the Investment Advisory Agreement dated July 31, 2020 (the “Agreement”), by and between The Royce Fund (the “Fund”), on behalf of Xxxxx Total Return Fund (the “Series”), and Royce & Associates, LP (the “Adviser”). Notwithstanding the provisions of Section 4 (Compensation of the Adviser) of the Agreement, the Adviser hereby waives compensation for services it provides under the Agreement for the period beginning May 1, 2024, and ending April 30, 2025 (the “Period”), and/or agrees to reimburse expenses relating to the Period to the Series with respect to its Service Class of shares (the “Class”) in an amount, if any, necessary so that the Series’ “Annual Operating Expenses” for the Class are not more than 1.49% of the Class’s average net assets for the Period. 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.

  • 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.

  • 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:

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

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

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

  • Expansion Capital Expenditures means cash expenditures for Acquisitions or Capital Improvements. Expansion Capital Expenditures shall include interest (including periodic net payments under related interest rate swap agreements) and related fees paid during the Construction Period on Construction Debt. Where cash expenditures are made in part for Expansion Capital Expenditures and in part for other purposes, the General Partner shall determine the allocation between the amounts paid for each.

  • Project Year means the twelve-month period beginning from the Effective Date and ending twelve months thereafter (the First Project Year), and any twelve-month period beginning at the end of the First Project Year, or the end of subsequent Project Years;

  • 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.

  • Operating Year means the calendar year commencing January 1st of each year (including the calendar year within which the Commencement Date occurs) during the Term.

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

  • Approved Project Budget means the most recent statement, approved by the FTA, of the costs of the Project, the maximum amount of Federal assistance for which the TJPA is currently eligible, the specific tasks (including specified contingencies) covered, and the estimated cost of each task.

  • 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.

  • Approved Operating Expenses means Operating Expenses incurred by Borrower which (i) are included in the Approved Annual Budget for the current calendar month, (ii) are for real estate taxes, insurance premiums, electric, gas, oil, water, sewer or other utility service to the Property, (iii) if applicable, are for property management fees payable to Manager under the Management Agreement, such amounts not to exceed three percent (3.0)% of the monthly Gross Revenue, (iv) or (v) have otherwise been approved by Lender.

  • Annual Plan means the annual plan of the Trust which is prepared in accordance with clause 9.1;

  • Incremental Operating Costs means the incremental expenses incurred by the Recipient’s implementing agencies on account of Project implementation, management, and monitoring, including office space rental, utilities, and supplies, bank charges, communications, advertising, vehicle operation, maintenance, and insurance, building and equipment maintenance costs, travel and supervision costs, and salaries of supporting staff, but excluding salaries of officials of the Recipient’s civil service.

  • Model Year means the CI engine manufacturer’s annual production period, which includes January 1st of a calendar year, or if the manufacturer has no annual production period, the calendar year.

  • Approved Capital Expenditures means Capital Expenditures incurred by Borrower and either (i) included in the Approved Annual Budget or (ii) approved by Lender, which approval shall not be unreasonably withheld or delayed.