Examples of PIP Budget in a sentence
To the extent Seller expends sums toward completion of the PIP implementation prior to Closing, Seller shall receive a credit therefor at Closing provided such sums are strictly in accordance with the PIP Budget.
Neither Seller nor Buyer shall commit the Franchisor to materially alter the PIP in a manner that would increase the PIP Budget, without the prior written consent of the other party hereto.
To Borrower’s knowledge, each PIP Budget is sufficient to complete the applicable PIP Plan.
In the event that the PIP Expense is greater than the PIP Budget, zero percent (0%) of the deficit shall be allocated to Medical Group.
In the event the PIP Expense is less than the PIP Budget, fifty percent (50%) of the surplus shall be allocated to Medical Group.
In the event the PIP Expense is less than the PIP Budget, zero percent (0%) of the surplus shall be allocated to Medical Group.
In the event that the PIP Expense is greater than the PIP Budget, fifty percent (50%) of the deficit shall be allocated to Medical Group, not to exceed one dollar eighty cents ($1.80) per Commercial Plan Member per month.
In the event that the PIP Expense is greater than the PIP Budget, fifty percent (50%) of the deficit shall be allocated to Medical Group.
Each Conversion Addendum includes Schedule 1 (Property Improvement Plan) and Schedule 4 (Hotel Systems Work), and contemplate the development of an agreement on a PIP Budget, Hotel Systems Budget, and Pre-Conversion Budget (which are intended to cover the costs of the Conversion Work described in the Conversion Addendum) (all costs of Hotel System Work, Pre-Conversion Activities, and PIP Work, together in the aggregate for all four Hotel Properties, the “Conversion Costs”).
Neither Seller nor Buyer shall permit the Franchisor to materially alter the PIP in a manner that would increase the PIP Budget, without the prior written consent of the other party hereto.