Examples of Revised Development Plan and Budget in a sentence
Amendments to the Articles of Association, the dissolution of the Association and the election and removal of Executive Board members can only be resolved if the respective requests have been sent to the members with the invitation and the agenda.
In the event Tenant does not receive a written notice of approval or disapproval from Landlord within such ten (10) calendar day period, then the proposed Revised Development Plan and Budget shall be deemed approved by Landlord.
Notwithstanding the foregoing, until such time as the Revised Development Plan and Budget has been approved (or deemed approved) by the Landlord in accordance with the terms and conditions of this Section 5.2, the Tenant shall perform its duties in accordance with the Development Plan and Budget (or any Revised Development Plan and Budget, as the case may be), currently then in effect.
Following the approval (or deemed approval) by the Landlord of the Revised Development Plan and Budget (if required hereunder), with respect to the period of time in question, all references in this Agreement to the Development Plan and Budget shall mean the Revised Development Plan and Budget.
In such case, Tenant shall prepare and submit to the Landlord, for Landlord’s review and approval, a revised Development Plan and Budget (as modified hereunder, the “Revised Development Plan and Budget”) for the remainder of the Term of this Agreement, indicating in narrative form the reasons why the assumptions used as the basis of preparing the original Development Plan and Budget (or any Revised Development Plan and Budget currently in effect) are no longer valid.
The approval by the Majority Interest of the Members shall be required for the adoption and implementation of the Revised Development Plan and Budget.
In such case, Tenant shall prepare and submit to the Landlord, for Landlord’s review and approval, a revised Development Plan and Budget (if, and as, approved by Landlord as required above, the “Revised Development Plan and Budget”) for the remainder of the Term of this Agreement, indicating in narrative form the reasons why the assumptions used as the basis of preparing the original Development Plan and Budget (or any Revised Development Plan and Budget currently in effect) are no longer valid.
In the event Members representing the Majority Interest of the Members object to any portion of the Revised Development Plan and Budget, such Members shall, contemporaneously with the delivery of their objections, submit to the Managers counter-proposals as to the matters to which they object.
Notwithstanding the foregoing, until such time as the Revised Development Plan and Budget has been finalized by the Managers and approved by the Majority Interest of the Members in accordance with the terms and conditions of this Section 8.9, the Managers shall perform their duties in accordance with the Development Plan and Budget currently then in effect.
Following the approval by the Majority Interest of the Members of the Revised Development Plan and Budget, with respect to the period of time in question, all references in this Agreement to the Development Plan and Budget shall mean the Revised Development Plan and Budget.