Common use of Budget Overruns; Program Changes Clause in Contracts

Budget Overruns; Program Changes. The Manager shall immediately notify the Management Committee of any material departure from an adopted Program and Budget. If the Manager exceeds an adopted Budget by more than twenty percent (20%) then the excess over twenty percent (20%), unless directly caused by an emergency or unexpected expenditure made pursuant to Section 10.8 or unless otherwise authorized by the Management Committee or pursuant to an Amendment under Section 10.9, shall be for the sole account of the Manager and such excess shall not be included in calculations relating to the adjustment or dilution of Ownership Interests. Budget overruns of twenty percent (20%) or less shall be funded by the Members in the same manner and with the same consequences and effects as the Member provided funding for the then current Program and Budget.

Budget Overruns; Program Changes. The Manager shall immediately notify provide notice to the Management Committee of any material departure from an adopted Program and Budget. If the Manager exceeds an adopted Budget (as amended under Section 6.5) by more than twenty percent (20%) ), then the excess over twenty percent (20%), unless directly caused by an emergency or unexpected expenditure made pursuant to under Section 10.8 6.10 or unless otherwise authorized by the unanimous approval of the Management Committee or pursuant to an Amendment under Section 10.9Committee, shall be for at the sole account cost and expense of the Manager and such excess shall not be included considered a Capital Contribution or taken into account in calculations relating to the adjustment or dilution calculation of Ownership Interests. Budget overruns of twenty percent (20%) or less shall be considered costs and expenses of the Company, and shall be funded by the Members making additional Capital Contributions to the Company in the same manner and with the same consequences and effects as the Member provided funding for the then current Program and Budgetproportion to their respective Interests.