Partnership Operating Budget definition
Examples of Partnership Operating Budget in a sentence
Upon any subsequent approval of the proposed Partnership Operating Budget, such Partnership Operating Budget shall become effective for such operating year.
In the event the GE Capital Limited Partner disapproves the proposed Partnership Operating Budget, the GE Capital Limited Partner shall indicate objections thereto in writing to the Managing General Partner.
No such revision to the Partnership Operating Budget may be made without such required approval; provided, however, that the Managing General Partner may allocate savings in one such item to other items in the Operating Budget up to ten percent (10%) of the item from which the allocation is made; and provided, further, that no item in the Partnership Operating Budget may be increased as a result of the allocation of savings by an amount greater than ten percent (10%) of the original amount of such item.
Any costs and expenses expected to be incurred in connection with any such office shall be set forth in the Partnership Operating Budget delivered and approved by the GE Capital Limited Partner pursuant to Section 6.6(c) or by the Other Limited Partners pursuant to Section 6.6(e), as the case may be.
Each of the Agent and the GE Capital Limited Partner agrees that it shall countersign each such certificate presented to it which is in compliance with the Partnership Operating Budget and the Loan Documents.
Except as permitted pursuant to Section 8.18, without the prior written consent of the Required Lenders, agree to or permit any amendment, supplement, or modification of, or waiver with respect to any of the provisions of (i) any Basic Document, (ii) the Plans and Specifications, (iii) the Partnership Operating Budget (in the case of the Partnership) or (iv) the North Country Operating Budget (in the case of North Country).