Common use of Annual Budgets Clause in Contracts

Annual Budgets. The Joint Planning Board shall collaborate with Administrator on all annual capital and operating budgets prepared by Administrator, as set forth in Section 3.5(b) and after the annual capital and operating budgets have been approved as provided in Section 3.5(b), no substantial changes may be made in such budgets without the approval of the Joint Planning Board. For purposes of this Section 5.2, substantial means any change individually or in the aggregate which would result in a change in excess of five percent (5%) to the annual capital or operating budgets.

Annual Budgets. The Joint Planning Board shall collaborate with Administrator on review and approve all annual capital and operating budgets prepared by Administrator, as set forth in Section 3.5(b) 3.5 and after the annual capital and operating budgets have been approved as provided in Section 3.5(b)3.5, no substantial changes may be made in such budgets without the approval of the Joint Planning Board. For purposes of this Section 5.2, substantial means any change individually or in the aggregate which would result in a change in excess of five percent (5%) to the annual capital or operating budgets.

Annual Budgets. The Joint Planning Board shall collaborate with Administrator on all annual capital and operating budgets prepared by Administrator, as set forth in Section 3.5(b) and after the annual capital and operating budgets have been approved as provided in Section 3.5(b), no substantial changes may be made in such budgets without the approval of the Joint Planning Board. For purposes of this Section 5.2, substantial means any change individually or in the aggregate which would result in a change in excess of five percent (5%) to the annual capital or operating budgets.substantial