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 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.
Examples of Budgeted Operating Expenses in a sentence
Article 2, however, requires disputing parties and the repository to take action before a tribunal is in place to resolve any disputes regarding that issue.
Actual Operating Expenses total $26,139, based on Budgeted Operating Expenses of $27,942; therefore the association is $1803 better than budget.
Without the prior written consent of Lender, which consent shall not be unreasonably withheld or delayed, during the continuance of a Trigger Period, Borrower shall not make any expenditures that are not Budgeted Operating Expenses.
Operator further acknowledges and agrees that it must adhere to the provisions of the Indenture in requesting disbursements from the funds and amounts held by the Trustee for payment of all of its costs, expenses, and compensation payable by the Authority hereunder out of the applicable Operating Account as Operating Expenses and out of the amounts paid to Operator as Budgeted Operating Expenses and to the extent that funds are available therefor under the priority of payments set forth in the Indenture.
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.
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, 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.
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 the average monthly operating expenses of the Rig set out in the Budget.
Budgeted Operating Expenses means any invoiced and anticipated ordinary fees (being amounts accrued in respect of fees due for payment 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 (including any part thereof as is in respect of or represents VAT) and any tax due and payable to any taxing authority having the power to tax the Issuer (including HM Revenue and Customs (other than corporation tax in respect of the Issuer Profit) 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 it is a party or, following the date on which a Note Enforcement Notice is delivered by the Trustee, to any Secured Party.
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, with respect to any calendar month, (i) an amount equal to the Operating Expenses for such calendar month in the then applicable Approved Annual Operating Expense Budget, or (ii) such greater amount as shall equal Borrower’s and/or Operating Lessee’s actual Operating Expenses for such month, as notified by Borrower to Lender in writing not less than 10 Business Days prior to the applicable Payment Date, except that during the continuance of a Mezzanine Loan Event of Default 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 Operating Expense 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, delayed or conditioned.