Budgeted Costs definition
Examples of Budgeted Costs in a sentence
The True-up shall be added to or subtracted from, as applicable, the Budgeted Costs set forth in the approved Proposal and shall be reflected in the Management Percentage established for the following calendar year.
For calendar year 1997, the Approved Budgeted Costs are agreed to be $5.5 million, such amount to be pro rated from the effective date of this Agreement.
For each subsequent calendar year, the Approved Budgeted Costs shall be an amount agreed to by the Funds and the Administrator prior to the beginning of the year, provided that, until Approved Budgeted Costs for a year are agreed to, the Approved Budgeted Costs and Administrative Fee for the prior year shall remain in effect.
If the parties are unable to agree on the Proposal, the Management Percentage and the True-up by February 15, the Budgeted Costs and Management Percentage (which shall reflect the True-up) shall be established pursuant to the Arbitration process described in Article VIII of this Agreement.
For purposes of this subsection, if a Development Property is owned by an Unconsolidated Affiliate of the Parent, then the product of (A) the Parent’s Ownership Share in such Unconsolidated Affiliate and (B) the amount of the Total Budgeted Costs for such Development Property shall be used in calculating such investment limitation.