Initial Budget Period definition
Examples of Initial Budget Period in a sentence
Furthermore during the Initial Budget Period at each annual budget discussion, the Headquarters Budget shall be presented to the Supervisory Board as a separate agenda item and shall require the approval of at least six Directors in the first meeting.
The parties acknowledge that the first such annual budget has been prepared and approved for the Initial Budget Period set forth in Exhibit A.
The relevant LG&E Parties agree that any expenditure by them during the Initial Budget Period for an item included in the Initial Period Budgets, in excess of the Big Rivers Contribution and up to the Capital Budget Limit for that Year (or portion thereof), shall be expended by that LG&E Party solely for a Capital Asset or Station Two Improvement.
On or before September 1 of the last year of the Initial Budget Period and each subsequent Year, WKEC shall submit in writing to each member of the Operating Committee a proposed Annual O&M Budget and a proposed Annual Capital Budget in each case for the next calendar year.
Such draft schedule shall be in such form and contain such information as equivalent to that of the Approved Capex Budget for the Initial Budget Period.
During the partial Year following the Effective Date, if any, and during the two full Years immediately following that partial Year or the Effective Date, as applicable, (collectively, the "Initial Budget Period"), the Annual O&M Budgets and the Annual Capital Budgets attached hereto as Schedule 7.1 shall govern (the "Initial Period Budgets").
To request the distribution of the Initial Requested Working Capital Distribution Amount on the Closing Date, AHG, the Company and Pie Squared shall deliver to the Escrow Agent and Rev Acquisition no later than 10:00 a.m. on the Closing Date a certificate substantially in the form of Exhibit 2 hereto (a “Requested Working Capital Distribution Certificate”) relating to the Initial Budget Period.
WKEC shall, for each Year following the Initial Budget Period during the remainder of Phase II, prepare an Annual O&M Budget and an Annual Capital Budget pursuant to this Article 7.
This equates to 75% of the 100% benefit cost (394 clock hours divided by 525).
AHG and Holdings shall cause Pie Squared to use any Escrow Funds distributed by the Escrow Agent to Pie Squared relating to the Initial Budget Period or any Subsequent Budget Period solely for an Eligible Use, or return such distributed Escrow Funds to the Escrow Agent.