Budget for First Operating Year Sample Clauses

Budget for First Operating Year. Operator shall commence preparation and shall submit to Terra Tech and Owner a pro forma budget for the operation, management and maintenance of the Business covering operations. Operator shall manage the Business consistent with and subject to the cost limitations set forth in such budget as the same may be adjusted in accordance with the provisions of this Paragraph 5.01.

Budget for First Operating Year. Manager shall prepare and submit to Owner prior to August 1, 1996 for Owner's approval a pro forma budget for the operation and maintenance of the Property covering the period from August 1, 1996 through December 31, 1996. Manager shall manage the Property consistent with and subject to the cost limitations set forth in the budget as the same may be adjusted with the prior written consent of Owner.

Budget for First Operating Year. Attached hereto as Exhibit B is a true and correct copy of Owner's operating budget for 1996. Agent and Owner shall use their good faith and best efforts to establish a budget for all costs pertaining to the operation and maintenance of the Building during the initial Operating Year (i.e., the period from the Commencement Date through December 31, 1997) within 30 days after the Commencement Date. Such budget shall (y) set forth expenditures on an annual and a monthly basis, and (z) not, except for informational purposes, include estimates for costs and expenses for which Owner will be reimbursed by Tenants under Leases. Pending the Owner's approval of a budget for the initial Operating Year, the provisions of Section 5(d) shall apply.