Common use of Capital Budget for Capital Matters Clause in Contracts

Capital Budget for Capital Matters. (i) StadCo will submit to the Authority Board at least sixty (60) days prior to the commencement of each calendar year, a Capital Budget for the Premises for the then- current calendar year. The Authority Board will consider the proposed Capital Budget at the next regularly scheduled meeting of the Authority Board, if practical to do so, but in no case more than forty-five (45) days after its receipt of the Capital Budget, and shall notify StadCo within five (5) days after the Authority Board has considered the proposed Capital Budget at a meeting of the Authority Board if the Authority Board objects to any components of the Capital Budget and the specific reasons for the objection, which must be reasonable under the circumstances. In case of an objection, the Authority Board and StadCo will work together in good faith to finalize the Capital Budget within ten (10) days following receipt of such objection. StadCo will not commence work on any Capital Matter to which the Authority Board has objected until the objection is resolved to the satisfaction of both the Authority Board and StadCo. Once the Capital Budget is Approved by the Authority Board, StadCo will be required to complete all work contemplated by such Capital Budget on a basis substantially consistent with the timetable in the proposed Capital Budget, except to the extent affected by Force Majeure or as otherwise Approved by the Authority Board. StadCo must obtain the Authority Board’s Approval in accordance with the terms of Section 8.1 hereof prior to commencing any work contemplated by the Capital Budget. The Authority Board’s review of the Capital Budget will not limit in any way the Authority’s rights under this Agreement with respect to any failure of StadCo to maintain the Premises in accordance with the Facility Standard or as otherwise required by this Agreement. Any dispute between the Authority and StadCo under this Section 7.6(b)(i) shall be resolved by the Alternative Dispute Resolution Procedures.‌

Capital Budget for Capital Matters. (i) StadCo will submit to the Authority Board at least sixty (60) days prior to the commencement of each calendar year, a Capital Budget for the Premises for the then- then-current calendar year. The Authority Board will consider the proposed Capital Budget at the next regularly scheduled meeting of the Authority Board, if practical to do so, but in no case more than forty-five (45) days after its receipt of the Capital Budget, and shall notify StadCo within five (5) days after the Authority Board has considered the proposed Capital Budget at a meeting of the Authority Board if the Authority Board objects to any components of the Capital Budget and the specific reasons for the objection, which must be reasonable under the circumstances. In case of an objection, the Authority Board and StadCo will work together in good faith to finalize the Capital Budget within ten (10) days following receipt of such objection. StadCo will not commence work on any Capital Matter to which the Authority Board has objected until the objection is resolved to the satisfaction of both the Authority Board and StadCo. Once the Capital Budget is Approved by the Authority Board, StadCo will be required to complete all work contemplated by such Capital Budget on a basis substantially consistent with the timetable in the proposed Capital Budget, except to the extent affected by Force Majeure or as otherwise Approved by the Authority Board. StadCo must obtain the Authority Board’s Approval in accordance with the terms of Section 8.1 hereof prior to commencing any work contemplated by the Capital Budget. The Authority Board’s review of the Capital Budget will not limit in any way the Authority’s rights under this Agreement with respect to any failure of StadCo to maintain the Premises in accordance with the Facility Standard or as otherwise required by this Agreement. Any dispute between the Authority and StadCo under this Section 7.6(b)(i) shall be resolved by the Alternative Dispute Resolution Procedures.‌Procedures.

Capital Budget for Capital Matters. (i) StadCo will submit to the Authority Board at least sixty (60) days prior to the commencement of each calendar year, a Capital Budget for the Premises for the then- then-current calendar year. The Authority Board will consider the proposed Capital Budget at the next regularly scheduled meeting of the Authority Board, if practical to do so, but in no case more than forty-five (45) days after its receipt of the Capital Budget, and shall notify StadCo within five (5) days after the Authority Board has considered the proposed Capital Budget at a meeting of the Authority Board if the Authority Board objects to any components of the Capital Budget and the specific reasons for the objection, which must be reasonable under the circumstances. In case of an objection, the Authority Board and StadCo will work together in good faith to finalize the Capital Budget within ten (10) days following receipt of such objection. StadCo will not commence work on any Capital Matter to which the Authority Board has objected until the objection is resolved to the satisfaction of both the Authority Board and StadCo. Once the Capital Budget is Approved aApproved by the Authority Board, StadCo will be required to complete all work contemplated by such Capital Budget on a basis substantially consistent with the timetable in the proposed Capital Budget, except to the extent affected by Force Majeure or as otherwise Approved by the Authority Board. StadCo must obtain the Authority Board’s Approval in accordance with the terms of Section 8.1 hereof prior to commencing any work contemplated by the Capital Budget. The Authority Board’s review of the Capital Budget will not limit in any way the Authority’s rights under this Agreement with respect to any failure of StadCo to maintain the Premises in accordance with the Facility Standard or as otherwise required by this Agreement. Any dispute between the Authority and StadCo under this Section 7.6(b)(i) shall be resolved by the Alternative Dispute Resolution Procedures.‌Procedures.

Capital Budget for Capital Matters. (i) StadCo will submit to the Authority Board at least sixty (60) days prior to the commencement of each calendar year, a Capital Budget for the Premises for the then- current calendar year. The Authority Board will consider the proposed Capital Budget at the next regularly scheduled meeting of the Authority Board, if practical to do so, but in no case more than forty-five (45) days after its receipt of the Capital Budget, and shall notify StadCo within five (5) days after the Authority Board has considered the proposed Capital Budget at a meeting of the Authority Board if the Authority Board objects to any components of the Capital Budget and the specific reasons for the objection, which must be reasonable under the circumstances. In case of an objection, the Authority Board and StadCo will work together in good faith to finalize the Capital Budget within ten (10) days following receipt of such objection. StadCo will not commence work on any Capital Matter to which the Authority Board has objected until the objection is resolved to the satisfaction of both the Authority Board and StadCo. Once the Capital Budget is Approved by the Authority Board, StadCo will be required to complete all work contemplated by such Capital Budget on a basis substantially consistent with the timetable in the proposed Capital Budget, except to the extent affected by Force Majeure or as otherwise Approved by the Authority Board. StadCo must obtain the Authority Board’s Approval in accordance with the terms of Section 8.1 hereof prior to commencing any work contemplated by the Capital Budget. The Authority Board’s review of the Capital Budget will not limit in any way the Authority’s rights under this Agreement with respect to any failure of StadCo to maintain the Premises in accordance with the Facility Standard or as otherwise required by this Agreement. Any dispute between the Authority and StadCo under this Section 7.6(b)(i) shall be resolved by the Alternative Dispute Resolution Procedures.‌Procedures.

Capital Budget for Capital Matters. (i) StadCo will submit to the Authority Board at least sixty (60) days prior to the commencement of each calendar year, a Capital Budget for the Premises for the then- current calendar year. The Authority Board will consider the proposed Capital Budget at the next regularly scheduled meeting of the Authority Board, if practical to do so, but in no case more than forty-five (45) days after its receipt of the Capital Budget, and shall notify StadCo within five (5) days after the Authority Board has considered the proposed Capital Budget at a meeting of the Authority Board if the Authority Board objects to any components of the Capital Budget and the specific reasons for the objection, which must be reasonable under the circumstances. It shall be unreasonable for the Authority to disapprove any proposed Capital Matter(s) if it (1) maintains or improves upon the Facility Standard or current MLB venue standards or (2) will enhance public safety or the experience of the Team’s fans, coaches, players or press. In case of an objection, the Authority Board and StadCo will work together in good faith to finalize the Capital Budget within ten (10) days following receipt of such objection. StadCo will not commence work on any Capital Matter to which the Authority Board has objected until the objection is resolved to the satisfaction of both the Authority Board and StadCo unless necessitated, in StadCo’s reasonable judgment, by an emergency situation. Once the Capital Budget is Approved by the Authority Board, StadCo will be required to complete all work contemplated by such Capital Budget on a basis substantially consistent with the timetable in the proposed Capital Budget, except to the extent affected by Force Majeure or as otherwise Approved by the Authority Board. StadCo must obtain the Authority Board’s Approval in accordance with the terms of Section 8.1 hereof prior to commencing any work contemplated by the Capital Budget. The Authority Board’s review of the Capital Budget will not limit in any way the Authority’s rights under this Agreement with respect to any failure of StadCo to maintain the Premises in accordance with the Facility Standard or as otherwise required by this Agreement. Any dispute between the Authority and StadCo under this Section 7.6(b)(i) shall be resolved by the Alternative Dispute Resolution Procedures.‌Procedures.

Capital Budget for Capital Matters. (i) StadCo will submit to the Authority Board at least sixty (60) days prior to the commencement of each calendar year, a Capital Budget for the Premises for the then- current calendar year. The Authority Board will consider the proposed Capital Budget at the next regularly scheduled meeting of the Authority Board, if practical to do so, but in no case more than forty-five (45) days after its receipt of the Capital Budget, and shall notify StadCo within five (5) days after the Authority Board has considered the proposed Capital Budget at a meeting of the Authority Board if the Authority Board objects to any components of the Capital Budget and the specific reasons for the objection, which must be reasonable under the circumstances. In case of an objection, the Authority Board and StadCo will work together in good faith to finalize the Capital Budget within ten (10) days following receipt of such objection. StadCo will not commence work on any Capital Matter to which the Authority Board has objected until the objection is resolved to the satisfaction of both the Authority Board and StadCo. Once the Capital Budget is Approved approved by the Authority Board, StadCo will be required to complete all work contemplated by such Capital Budget on a basis substantially consistent with the timetable in the proposed Capital Budget, except to the extent affected by Force Majeure or as otherwise Approved by the Authority Board. StadCo must obtain the Authority Board’s Approval in accordance with the terms of Section 8.1 hereof prior to commencing any work contemplated by the Capital Budget. The Authority Board’s review of the Capital Budget will not limit in any way the Authority’s rights under this Agreement with respect to any failure of StadCo to maintain the Premises in accordance with the Facility Standard or as otherwise required by this Agreement. Any dispute between the Authority and StadCo under this Section 7.6(b)(i) shall be resolved by the Alternative Dispute Resolution Procedures.‌Procedures.

Capital Budget for Capital Matters. (i) StadCo will submit to the Authority Board at least sixty (60) days prior to the commencement of each calendar year, a Capital Budget for the Premises for the then- current calendar year. The Authority Board will consider the proposed Capital Budget at the next regularly scheduled meeting of the Authority Board, if practical to do so, but in no case more than forty-five (45) days after its receipt of the Capital Budget, and shall notify StadCo within five (5) days after the Authority Board has considered the proposed Capital Budget at a meeting of the Authority Board if the Authority Board objects to any components of the Capital Budget and the specific reasons for the objection, which must be reasonable under the circumstances. In case of an objection, the Authority Board and StadCo will work together in good faith to finalize the Capital Budget within ten (10) days following receipt of such objection. StadCo will not commence work on any Capital Matter to which the Authority Board has objected until the objection is resolved to the satisfaction of both the Authority Board and StadCo. Once the Capital Budget is Approved approved by the Authority Board, StadCo will be required to complete all work contemplated by such Capital Budget on a basis substantially consistent with the timetable in the proposed Capital Budget, except to the extent affected by Force Majeure or as otherwise Approved by the Authority Board. StadCo must obtain the Authority Board’s Approval in accordance with the terms of Section 8.1 hereof prior to commencing any work contemplated by the Capital Budget. The Authority Board’s review of the Capital Budget will not limit in any way the Authority’s rights under this Agreement with respect to any failure of StadCo to maintain the Premises in accordance with the Facility Standard or as otherwise required by this Agreement. Any dispute between the Authority and StadCo under this Section 7.6(b)(i) shall be resolved by the Alternative Dispute Resolution Procedures.‌