Budget Approvals Sample Clauses

Budget Approvals. No later than thirty (30) days prior to the expiration of each calendar year, Borrowers shall deliver to Lender the proposed Operating Budget and the Capital Expenditure Budget (in each case presented on a monthly and annual basis) for the Properties for the following calendar year. Each such proposed Operating Budget shall identify and set forth Borrowers’ best estimate, after due consideration, of all revenue, costs, and expenses for the Properties, and shall specify gross revenues and Operating Expenses. The Capital Expenditure Budget shall identify and set forth Borrowers’ best estimate, after due consideration, of all costs and expenses contemplated to be necessary in the related budget year (and, as to projects initiated or to be initiated in or prior to the budget year but not completed in the budget year, the estimated cost and completion schedule) for capital improvements and leasehold improvements, leasing commissions and other leasing costs not included in the Operating Budget, and the contemplated sources of payment of the same. In the event that either a Cash Trap Condition or an Event of Default exists, the Operating Budget shall be subject to Lender’s reasonable approval, and upon such approval shall, with any amendments thereto approved by Lender from time to time, constitute the “Approved Operating Budget” hereunder. Borrower shall provide a proposed Approved Operating Budget to Lender for the then-remaining calendar year within five (5) Business Days after the occurrence of a Cash Trap Condition, and thereafter while a Cash Trap Condition exists shall provide a proposed Approved Operating Budget to Lender for each succeeding calendar year at least thirty (30) days prior to the end of each calendar year. If a proposed Approved Operating Budget is not in form and substance reasonably satisfactory to Lender, Lender may disapprove the same and specify the reasons therefor, and Borrowers shall promptly amend and resubmit for approval a revised budget, making such changes as are necessary to comply with the reasonable requirements of Lender; provided that until such time as Borrowers have resubmitted the revised budget and Lender has approved such revised budget, the parties shall operate under the provisions of this Article VII using the budget submitted to Lender as proposed to be revised by Lender, except that actual amounts shall be used for real estate taxes, insurance premiums for insurance required hereunder and utilities expenses. Capit...
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Budget Approvals. The budget for the estimated Operating Cost (excluding costs for 12 Capital Improvements to Interconnection Facilities that are not necessary to prevent 13 impairment of the operation of the Common Bus) and any other expenses and costs 14 allocated to the Interconnector pursuant to this Agreement shall be subject to the 15 approval of the E&O Committee. Submittal of such budget to the Interconnector shall 16 be for informational purposes only. The budget for the estimated costs of Capital 17 Improvements to the Interconnection Facilities for which the Interconnector is 18 responsible under this Agreement and that are not necessary to prevent impairment 19 of the operation of the Common Bus shall be subject to the approval of the 20 Interconnector, which approval shall not be unreasonably withheld.
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Budget Approvals. The Production Representative designated in Section 2.3 of the Underlying Agreement will be required to render approvals hereunder in writing on behalf of Client within two (2) business days (or such shorter time period as may be required due to the exigencies of production) after submission of cost estimates or other budgetary matters by Company to the Production Representative.
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Budget Approvals. Each Budget and all revisions thereto shall be subject to the review and Approval by HPS and HPS shall provide Manager with any objections to such Budget in writing, in reasonable detail, within thirty (30) days after delivery thereof by Manager. If HPS does not provide its Approval or written objections within such thirty (30) day period, HPS shall be deemed to have objected to such Budget as submitted by Manager. If HPS objects to an updated Budget, HPS and Manager shall meet and discuss such objections within fourteen (14) days following Manager’s receipt or deemed receipt of such objection. Within seven (7) days after such discussion, HPS shall provide Manager with written directions on how to revise such Budget or shall provide its final revised and Approved Budget. If HPS has provided written directions rather than the revised Budget, Manager shall within seven (7) days after delivery of such directions submit to HPS revisions to such Budget consistent with such directions. Such revised Budget, as submitted by HPS or revised by Manager and Approved by HPS in accordance with this Section 5.1.4, shall supersede in its entirety the Budget in effect immediately prior to such provision or Approval.
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Budget Approvals. Each Budget and all revisions thereto shall be subject to the review and Approval by Lennar Concord and Lennar Concord shall provide Manager with any objections to such Budget in writing, in reasonable detail, within thirty (30) days after delivery thereof by Manager. If Lennar Concord does not provide its Approval or written objections within such thirty (30) day period, Lennar Concord shall be deemed to have objected to such Budget as submitted by Manager. If Lennar Concord objects to an updated Budget, Lennar Concord and Manager shall meet and discuss such objections within fourteen (14) days following Manager’s receipt or deemed receipt of such objection. Within seven (7) days after such discussion, Lennar Concord shall provide Manager with written directions on how to revise such Budget or shall provide its final revised and Approved Budget. If Lennar Concord has provided written directions rather than the revised Budget, Manager shall within seven (7) days after delivery of such directions submit to Lennar Concord revisions to such Budget consistent with such directions. Such revised Budget, as submitted by Lennar Concord or revised by Manager and Approved by Lennar Concord in accordance with this Section 5.1.4, shall supersede in its entirety the Budget in effect immediately prior to such provision or Approval.
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Budget Approvals. Borrower shall, (i) if Borrower has the right ---------------- under the Management Agreement to approve any aspect of each Operating Budget or the FF&E Estimate (as such terms are defined in the Management Agreement) or any other budget, submit each of the foregoing to Lender for its approval; and (ii) submit to the Lender for its approval the Building Estimate (as such term is defined in the Management Agreement); provided that the Lender's review and approval of each of the foregoing shall not be unreasonably withheld or delayed, and Lender shall issue its approval or disapproval within ten (10) Business Days after Lender's receipt thereof.
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Budget Approvals. The budget for the estimated cost of Operating Work and any other expenses and costs allocated to the Interconnection Customers . pursuant to this Agreement shall be subject to the approval of the E&O committee. Submittal of such budget to the Joint Operating Committee shall be for informational purposes only. The budget for the estimated costs of Capital Improvements to the Xxxxxx - PP Participants’ Interconnection Facilities for which the Xxxxxx - PP Participants is responsible under this Agreement shall be subject to the approval of tliei Xxxxxx - PP Participants, which approval shall not be unreasonably withheld. .
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Budget Approvals. The budget for the estimated Operating Cost (excluding costs for 14 Capital Improvements to Interconnection Facilities that are not necessary to prevent 15 impairment of the operation of the Common Bus) and any other expenses and costs 16 allocated to the Interconnector pursuant to this Agreement shall be subject to the 17 approval of the E&O Committee. Submittal of such budget to the Interconnector shall 18 be for informational purposes only. The budget for the estimated costs of Capital
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Related to Budget Approvals

  • Requisite Approvals Upon execution of this Agreement, it will have taken all necessary actions pursuant to its governing documents or other legally sufficient means to fully authorize the execution and delivery of this Agreement and any transaction documents related hereto, and the consummation of the transactions contemplated hereby and thereby.

  • Project Approvals See §6.22.

  • Prior Approvals This Contract shall not be binding unless and until all requisite prior approvals have been obtained in accordance with current State law, bulletins, and interpretations.

  • Authorization; Approvals The issuance of the Policy and the execution, delivery and performance of this Agreement and the Insurance Agreement have been duly authorized by all necessary corporate proceedings. No further approvals or filings of any kind, including, without limitation, any further approvals of or further filings with any governmental agency or other governmental authority, or any approval of the Insurer’s board of directors or stockholders, are necessary for the Policy, this Agreement and the Insurance Agreement to constitute the legal, valid and binding obligations of the Insurer.

  • Board Approvals The Company Board of Directors, at a meeting duly called and held, has unanimously (i) determined that each of the Agreement, the Offer and the Merger are advisable and fair to and in the best interests of the stockholders of the Company, (ii) duly and validly approved, adopted and declared advisable this Agreement and the Transactions and taken all other corporate action required to be taken by the Company Board of Directors to authorize the consummation of the Transactions, and (iii) resolved to recommend, subject to Section 5.2, that the stockholders of the Company accept the Offer, tender their Shares to the Purchaser pursuant to the Offer, and approve and adopt this Agreement and the Merger, and none of the aforesaid actions by the Company Board of Directors has been amended, rescinded or modified, except as provided in Section 5.2. The action taken by the Company Board of Directors constitutes approval of the Transactions (including each of the Offer and the Merger) by the Company Board of Directors under Section 203 of the DGCL, and no other state takeover statute or similar statute or regulation in any jurisdiction in which the Company does business is applicable to the Transactions (including each of the Offer and the Merger).

  • Corporate Approvals Prior to Closing Date, each of the parties shall submit this Agreement to its board of directors and when necessary, its respective shareholders and obtain approval of this Agreement. Copies of corporate actions taken shall be provided to each party.

  • Regulatory Approvals All Requisite Regulatory Approvals shall have been obtained and shall remain in full force and effect and all statutory waiting periods in respect thereof shall have expired, and no such Requisite Regulatory Approval shall have resulted in the imposition of any Materially Burdensome Regulatory Condition.

  • Requisite Regulatory Approvals All Consents required to be obtained from or made with any Governmental Authority in order to consummate the transactions contemplated by this Agreement shall have been obtained or made.

  • Consents, Approvals, Etc No consent, approval, authorization, filing with or order of any court or governmental agency or body is required in connection with the transactions contemplated herein or in the Trust Agreement, the Warrant Agreement, the Securities Subscription Agreement, the Private Placement Warrants Purchase Agreement, the Registration Rights Agreement, or the Insider Letter, except for the registration under the Act and the Exchange Act of the Securities, and such as may be required under the state securities or blue sky laws of any jurisdiction in connection with the purchase and distribution of the Securities by the Underwriters in the manner contemplated herein and in the Registration Statement, Statutory Prospectus and the Prospectus.

  • Statutory Approvals No declaration, filing or registration with, or notice to or authorization, consent or approval of, any federal, state, local or foreign government, any instrumentality, subdivision, court, administrative agency or commission or authority thereof, or any quasi-governmental or private body exercising any regulatory, taxing, importing or other governmental or quasi-governmental authority or regulatory body (including a stock exchange or other self-regulatory body) or any other authority (each, a "Governmental Authority") is necessary for the execution and delivery of this Agreement by ITI or the consummation by ITI of the transactions contemplated hereby, except for those required under or in relation to (A) state securities or "blue sky" laws (the "Blue Sky Laws"), (B) the Securities Act, (C) the Exchange Act of 1934, as amended (the "Exchange Act"), (D) the DGCL with respect to the filing of the Certificate of Merger, (E) the ITI Stockholders' Consent, and (F) such consents, approvals, order, authorizations, registrations, declarations and filings the failure to obtain, make or give which would reasonably be expected to have, in the aggregate, an ITI Material Adverse Effect (the "ITI Required Statutory Approvals"), it being understood that references in this Agreement to "obtaining" such ITI Required Statutory Approvals shall mean making such declarations, filings or registrations; giving such notice; obtaining such consents or approvals; and having such waiting periods expire as are necessary to avoid a violation of law.

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