Initial Operating Budget definition

Initial Operating Budget has the meaning specified in Section 3.01(a)(xiii).

Initial Operating Budget means, (a) with respect to Series A, an Operating Budget covering the 12-month period following the In-Service Date with respect to the Mainline Facilities, as approved by the Series A Management Committee on February 11, 2015, and (b) with respect to any other Series, an Operating Budget Covering the 12-month period following the In-Service Date with respect to such Additional Transportation Facility applicable to such Series, as approved by the applicable Management Committee in connection with the approval of such Additional Transportation Facility, in each case as may be amended from time to time.

Initial Operating Budget has the meaning set forth in Section 4.01(a)(i).

Examples of Initial Operating Budget in a sentence

• At the Closing, Peabody and Arch shall contribute, or cause their respective Affiliates, to contribute to the JV Company an amount of cash needed to fund the operations of the JV Company pursuant to the Initial Operating Budget for the first 90 days immediately following the Closing, which amount shall be determined by Peabody, acting in accordance with its role as the “Operator” under the LLC Agreement, in accordance with the Initial Operating Budget.

• At least ten Business Days prior to Closing, the Parties shall mutually approve the Initial Operating Budget.

• The Manager may modify or amend a previously approved Initial Operating Budget or an Annual Operating Budget, only in accordance with Section 10.2 or as otherwise provided in this Agreement.

• No later than September 15 of the calendar year in which the Initial Operating Budget ends and by September 15 of each subsequent year, the Treasurer shall propose, for approval by the Members Committee, an operating budget for the operation of the Company for the next calendar year (the “Annual Operating Budget”).

• The Initial Operating Budget, as the same may be amended by any Amended Operating Budget, is hereinafter referred to as the “Operating Budget”.

More Definitions of Initial Operating Budget

Initial Operating Budget means an operating budget for the JV Company for each fiscal year during the period from the Closing through the end of the first fiscal year ending at least six months after the Closing in a form to be mutually agreed between the Parties.

Initial Operating Budget has the meaning set forth in Section 7.14.3.

Initial Operating Budget means, with respect to any Operating Project, a draft operating plan and a budget, substantially in the form of Exhibit N, detailed by quarter for such Project and the balance of the Projects in the portfolio, of anticipated revenues and anticipated expenditures, such budget to include maintenance, repair and operation expenses (including reasonable allowance for contingencies), reserves and all other anticipated O&M Costs for the Projects for the ensuing twelve months.

Initial Operating Budget shall have the meaning as set forth in Section 10.1.

Initial Operating Budget means the initial annual operating budget of the Company that covers the remainder of the year ended December 31, 2009 at the time of adopting that includes reasonable detail on projections regarding revenues, operating expenses, general and administrative expenses, debt incurrence and interest expense and maintenance capital expenditures.

Initial Operating Budget has the meaning given in Section 3.1.20 of the Credit Agreement.

Initial Operating Budget means the operating budget attached as Exhibit E to the Company Partnership Agreement.