Budgeted Operating Expenses definition

Budgeted Operating Expenses means, for any period, the Operating Expenses budgeted for such period as set forth in the Approved Budget or Interim Budget, as applicable.

Budgeted Operating Expenses means, with respect to any calendar month, (i) an amount equal to the Operating Expenses budgeted for such calendar month as set forth in the then-applicable Approved Annual Budget, or (ii) such greater amount as shall equal Borrower's actual Operating Expenses for such month, except that, the Budgeted Operating Expenses shall exclude any Operating Expenses which are to be paid in relation to the Hotel Property in accordance with the Approved Hotel Operating Agreement from the Manager Accounts or the Approved FF&E Account and during the continuance of a Trigger Period such greater amount as described in item (ii) above shall in no event exceed 105% of the amount specified in clause (i) of this definition without the prior written consent of Lender, not to be unreasonably withheld, delayed or conditioned, provided that no such consent shall be required in connection with expenditures for non‑discretionary items and expenditures required to be made by reason of the occurrence of any emergency (i.e., an unexpected event that threatens imminent harm to persons or property at the Property) and with respect to which it would be impracticable, under the circumstances, to obtain Lender's prior consent thereto.

Budgeted Operating Expenses means, with respect to any calendar month, (i) an amount equal to the Operating Expenses for such calendar month in the then-applicable Approved Annual Budget, or (ii) such greater amount as shall equal Borrower's actual Operating Expenses for such month, except that during the continuance of a Trigger Period such greater amount, excluding amounts spent on Non-Discretionary Items, may in no event exceed 105% of the amount specified in clause (i), with no individual budget line item exceeding 110% of the amount set forth in the then-applicable Approved Annual Budget with respect to such line item for such month, in each case without the prior written consent of Lender, not to be unreasonably withheld or delayed.

Examples of Budgeted Operating Expenses in a sentence

• For example: Total 2011 Budgeted Operating Expenses divided by Total 2010 CISPRI Weighted Barrels.

• No new clubs can be affiliated until the February SOC meeting, and so Start-­‐up Grant costs will roll over into that month-­‐ Budgeted Operating Expenses for SOC = $370 ($150 computer, $200 meeting, $20 printing/stationary)o No money has been spent on these line items as of 22/01/13.

• During the continuance of a Trigger Period, Borrower shall not accept any remittance from the Mortgage Loan Cash Management Account in respect of Property expenditures that are not Budgeted Operating Expenses unless approved by Lender in writing.

• The Manager shall use commercially reasonable efforts to incur Operating Expenses within the limits prescribed by the Budgeted Operating Expenses; provided that the Manager may at any time incur Extraordinary Expenses if and to the extent the Manager determines, in accordance with the Operation Standards, that it is reasonable to do so.

• During the continuance of a Cash Flow Sweep Period, Borrower shall not accept any remittance from the Mortgage Loan Cash Management Account in respect of Property expenditures that are not Budgeted Operating Expenses unless approved by Lender in writing.

More Definitions of Budgeted Operating Expenses

Budgeted Operating Expenses means, with respect to any calendar month, (i) an amount equal to the Operating Expenses for such calendar month in the then-applicable Approved Annual Budget, or (ii) such greater amount as shall equal Borrower’s and/or Operating Lessee’s actual Operating Expenses for such month, except that during the continuance of a Trigger Period such greater amount may in no event exceed 105% of the amount specified in clause (i), with no individual budget line item exceeding 110% of the amount set forth in the then-applicable Approved Annual Budget with respect to such line item for such month, in each case without the prior written consent of Lender, not to be unreasonably withheld or delayed.

Budgeted Operating Expenses means the average monthly operating expenses of the Rig set out in the Budget.

Budgeted Operating Expenses means, with respect to any calendar month, (i) an amount equal to the Operating Expenses for such calendar month in the then-applicable Approved Annual Budget, or (ii) such greater amount as shall equal Borrower's actual Operating Expenses for such month, except that during the continuance of a Cash Trap Period such greater amount may in no event exceed 105% of the amount specified in clause (i), with no individual budget line item exceeding 110% of the amount set forth in the then-applicable Approved Annual Budget with respect to such line item for such month, in each case without the prior written consent of Lender, not to be unreasonably withheld or delayed, except no such consent or limitation shall apply to non-discretionary items such as insurance, utilities and charges under the Declaration or By-Laws.

Budgeted Operating Expenses means with respect to any calendar month, (i) an amount equal to the operating expenditures for such calendar month in the Approved Budget, or (ii) such greater amount as shall equal Borrower’s actual operating expenditures for such month, provided that such greater amount may in no event exceed 105% of the amount specified in clause (i) without the prior written consent of Lender, which, so long as no Event of Default has occurred and is continuing, shall not be unreasonably withheld or delayed.

Budgeted Operating Expenses means any anticipated fees and expenses payable by the Issuer on any Interest Payment Date to any Operating Creditor. “Operating Creditor” means any of (1) the Trustee and any agent, delegate or other appointee thereof, (2) any Receiver of the Issuer, (3) any Agent, (4) the Cash Administrator, (5) any director of the Issuer or the Parent (as defined below), (6) any stock exchange on which any of the Issuer’s Notes are listed, (7) the Issuer’s auditors and tax advisers or tax auditors, and any Chamber of Commerce fees payable by the Issuer, (8) any Rating Agency, (9) any independent experts or independent calculation agent appointed under the Credit Default Swap, and (10) any other creditor (other than the Noteholders, the Swap Counterparty or the Repo Counterparty) from time to time of the Issuer who has been notified to the Cash Administrator in accordance with the Cash Administration Agreement (and including any amounts of value added tax or other taxes, other than corporate income tax, due to any applicable revenue authorities). “Exceptional Expenses” means any fees, expenses, out of pocket expenses, costs, liabilities or indemnity amounts or any other amounts which are incurred or claimed by any Operating Creditor which are not Budgeted Operating Expenses and which are payable by the Issuer under a Transaction Document to which it is a party. “Initial Reference Portfolio Notional Amount” means the Maximum Reference Portfolio Notional Amount on the Closing Date, being EUR 10,000,000,000. “Transaction Documents” means the Trust Deed, the Deed of Charge, the Issuer Account Pledge, the Cash Deposit Account Pledge, the Dutch Tax Account Pledge, the Paying Agency and Agent Bank Agreement, the Subscription Agreement, the Master Definitions and Common Terms Agreement (each as defined in the Conditions), the Credit Default Swap, the Cash Deposit Agreement, the Repo Agreement and the Cash Administration Agreement. Available Redemption Funds Priority of Payments For so long as the Trustee has not delivered an Enforcement Notice (as defined in the Conditions), on any Interest Payment Date on which the Notes are to be redeemed in whole or in part or have been declared due and repayable in accordance with the Conditions, the Issuer shall apply Available Redemption Funds (as defined in the Conditions) as follows and in the following order of priority (the “Available Redemption Funds Priority of Payments”), in each case to the extent of Available Redemption Funds:

Budgeted Operating Expenses. The overhead and operating, expenses of the Partnership which relate to the day-to-day operation and maintenance of the Subject Amphitheaters such as salaries for employees and staff for the Subject Amphitheaters, utility costs for the Subject Amphitheaters, insurance costs relating to the maintenance of casualty and liability insurance for the Subject Amphitheaters, costs relating to maintenance, repair and upkeep of the Subject Amphitheaters and the personal property and equipment used in connection with the operation of the Subject Amphitheaters and costs for the purchase of office supplies and equipment. Notwithstanding anything to the contrary implied by the immediately preceding sentence, Show Expenses shall not be "Budgeted Operating Expenses" for purposes of this Agreement.

Budgeted Operating Expenses. ’ means any invoiced and anticipated ordinary fees (being amounts accrued in respect of fees due for payment on a date other than a Note Payment Date as calculated in accordance with the notice provided by the Cash Administrator to the Issuer on the Closing Date and each Calculation Date thereafter) and expenses and any tax due and payable to any taxing authority having the power to tax the Issuer (including the Irish Revenue Commissioners but excluding in respect of any payment of the Issuer Profit Amount) incurred in respect of each Note Payment Date and payable by the Issuer on each Note Payment Date (or on such other date as they may fall due) to any Operating Creditor under the terms of the Transaction Documents to which they are a party or, following the date on which a Note Enforcement Notice is delivered by the Trustee, to any Secured Party.