Examples of Permitted Budget in a sentence
Subject to Clause 10.3 the Host Partner for the relevant Pooled Fund shall manage income and expenditure from a Pooled Fund within the Financial Contributions and shall ensure that the expenditure is limited to Permitted Budget.
Use the proceeds of the Term Loans in accordance with the Budget (subject to Permitted Budget Variances) or for Specified Disbursements.
Subject to Permitted Budget Variances, the failure by the Borrower to utilize the proceeds of the Loan in accordance with the Approved Budget.
The proceeds of the Loans shall be funded into the Escrow Account and thereafter disbursed to the Borrower for working capital and general corporate purposes and for the acquisition of income producing retail and mixed-use properties and related transactional expenses in accordance with the budget or payment schedule attached hereto as Exhibit A (the “Approved Budget”) (subject to Permitted Budget Variances).
During the continuance of a Trigger Period, until such time that any Annual Budget has been approved by Lender, the then-current Approved Annual Budget with the Permitted Budget Variances therefrom shall apply for all purposes hereunder.