Material Budget Deviation definition

Material Budget Deviation has the meanings set forth in Section 5.3(c) hereof. hereof. Cases.
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Material Budget Deviation means a deviation in actual cash disbursements with respect any category identified in the Budget as "payroll", "building expenses", "compliance, audit and related fees", "technology-related" or "asset security and disposition", in each case exceeding one hundred fifteen percent (115%) of the amount projected in the Budget during any applicable test period.
Sample 1
Material Budget Deviation means, any of the following, as of any date of determination:
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Examples of Material Budget Deviation in a sentence

  • Although each R&D Plan and Budget will continue in effect until the next Go/No Go Decision Point is reached in the absence of a Material Budget Deviation, a consolidated R&D Plan and Budget for all Collaboration research and development activities will be established annually in a timeframe that coincides with the Parties’ respective internal annual planning and budget processes.

  • Except for cumulative calculations in any measurement period expressly provided for in the definition of Material Budget Deviation set forth in Appendix A, no unused portion of any line item in the Budget may be carried forward or carried backward to any prior or subsequent period in the Budget more than 2 weeks.


More Definitions of Material Budget Deviation

Material Budget Deviation. A Material Budget Deviation shall mean an incurred deviation of [*] percent ([*]%) or more above any R&D Plan and Budget.
Sample 1
Material Budget Deviation means a deviation in actual cash disbursements with respect any category identified in the Budget as "Independent Contractors," "Building Expenses", "Compliance, audit and related fees", "Technology related", "A&G Realty Partners, LLC (real estate marketing)," "Tiger Capital Group, LLC," or "Storage: GRM/DRACO," in each case exceeding one hundred fifteen percent (115%) of the amount projected in the Budget during any applicable test period.
Sample 1
Material Budget Deviation. With respect to any Test Period, if (A) the actual aggregate cash disbursements of Borrower during such Test Period exceed one hundred twenty (120%) percent of the projected aggregate cash disbursements during such Test Period as reflected in the Budget, (B) the actual aggregate cash receipts of Borrower during such Test Period are less than seventy-five (75%) percent of the projected aggregate cash receipts during such Test Period as reflected in the Budget or (C) the actual aggregate value (calculated at the lower of Cost or market) of Inventory of Borrower received by Borrower during such Test Period is less than ninety (90%) percent of the projected value (calculated at the lower of Cost or market) of such Inventory during such Test Period as reflected in the Budget.
Sample 1
Material Budget Deviation means, on a cumulative basis for the four-week period ending May 30, 2020 and on a rolling four-week basis as of the last day of each week thereafter, “Net Cash Flow” as set forth in the Budget for such period is (a) if such amount is a positive number, less than 85% of the projected surplus cash flow or (b) if such amount is a negative number, more than 115% of the projected deficit cash flow.
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Related to Material Budget Deviation

  • Material Deviation refers to any contents or characteristics of the proposal that is significantly different from an essential aspect or requirement of the RFP, and : (i) substantially alters the scope and quality of the requirements; (ii) limits the rights of UNDP and/or the obligations of the offeror; and (iii) adversely impacts the fairness and principles of the procurement process, such as those that compromise the competitive position of other offerors.

  • Budget means a resource, expressed in financial terms, proposed by the Board for the purpose of carrying out, for a specific period, any or all of the functions of the Trust.

  • Construction Budget means the fully-budgeted costs for the acquisition and construction of a given parcel of real property (including, without limitation, the cost of acquiring such parcel of real property, reserves for construction interest and operating deficits, tenant improvements, leasing commissions, and infrastructure costs) as reasonably determined by the Parent in good faith.

  • Material Modification means any modification to an Interconnection Request that has a material adverse effect on the cost or timing of Interconnection Studies related to, or any Network Upgrades or Local Upgrades needed to accommodate, any Interconnection Request with a later Queue Position.

  • Material Project means the construction or expansion of any capital project of the Borrower or any of its Subsidiaries, the aggregate capital cost of which exceeds $50,000,000.

  • Business Plan means the information required to be supplied to the

  • Deviation is a departure from the requirements specified in the Tendering document;

  • BASE budget means the minimum general fund budget of a district, which includes 80% of the basic

  • Substantial compliance means a level of compliance with these rules where any deficiencies pose no greater risk to resident health or safety than the potential for causing minor harm.

  • Material Compliance Matter has the same meaning as the term defined in Rule 38a-1, and includes any compliance matter that involves: (1) a violation of the federal securities laws by Distributor (or its officers, directors, employees, or agents); (2) a violation of Distributor's Rule 38a-1 policies and procedures; or (3) a weakness in the design or implementation of Distributor's Rule 38a-1 policies and procedures.

  • Material Project Documents means, collectively, the Power Purchase Agreement, the EPC Contract, the Transmission Facilities Construction Agreement, the O&M Agreement, the Coal Supply Agreements, the Coal Transportation Agreement and all other instruments, agreements or other documents arising from or related to the Project, but shall not include any Financing Agreement.

  • Material safety data sheet or "MSDS" means the chemical, physical, technical, and safety information document supplied by the manufacturer of the coating, solvent, or other chemical product, usually through the distribution network or retailers.

  • Standard Specifications means a compilation in book form of specifica- tions approved for general application and repetitive use;

  • Project Plan means the document to be developed by the Contractor and approved by WTL, based on the requirements of the Contract and the Preliminary Project Plan included in the Contractor’s bid. For the sake of clarity, the Agreed and Finalised Project Plan” refers to the version of the Project Plan submitted by the contractor after receiving the letter of Award and the same approved by WTL. The project plan may be changed/ modified during the course of the project. Should the Project Plan conflict with the provisions of the Contract in any way, the relevant provisions of the Contract, including any amendments, shall prevail.

  • Material Modifications means any modifications to the material related party transactions which were approved by the Audit Committee or Shareholders during the year which will change the complete nature of the transaction and in case of monetary thresholds which is in excess of 10% of the originally approved transaction, in case of exigencies only.

  • Annual Budget means the operating budget, including all planned capital expenditures, for the Property prepared by Borrower for the applicable Fiscal Year or other period.

  • Construction Schedule means a construction schedule indicating the planned start and completion dates of the major activities of the Work as set out in Appendix [ ], a future Appendix;

  • Project Operational Manual means the Project Operational Manual, to be adopted in accordance with Section 6.01 (a) of this Agreement, giving details of guidelines and procedures agreed with the Association for the implementation, supervision, and monitoring and evaluation, of the Project, and the procurement procedures and guidelines for Sub-Projects, as same may be amended from time to time in agreement with the Association, and such term includes any schedules to the Project Operational Manual;

  • Capital Budget has the meaning given in Section 3.11(a).

  • Substantial modification means modification of a relevant source that results in a significant increase in emissions, excluding any change in emissions resulting from by-product recovery. It shall be a matter for the Party to decide whether a modification is substantial or not;

  • Project Budget means the budget and project description included in the grant application. The Project Budget must succinctly describe all major elements of project work, the estimated cost of each, and clearly allocate requested grant funding and match contributions to each.

  • CREFC® Operating Statement Analysis Report The monthly report in the “Operating Statement Analysis Report” format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

  • CMSA Operating Statement Analysis Report means a report substantially in the form of, and containing the information called for in, the downloadable form of the "Operating Statement Analysis Report" available as of the Closing Date on the CMSA Website or in such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage-backed securities transactions generally.

  • Initial Budget has the meaning set forth in Section 7.06(a).

  • Plans and Specifications means the plans, drawings and specifications reasonably necessary to properly assess and review proposed Work prior to issuance of any approval that may be required under this Agreement;

  • Approved Project Budget means the most recent statement, approved by the FTA, of the costs of the Project, the maximum amount of Federal assistance for which the TJPA is currently eligible, the specific tasks (including specified contingencies) covered, and the estimated cost of each task.