Common use of Management Company Clause in Contracts

Management Company. The Operating Budget and the Capital Budget as so finally approved by Tenant shall constitute the “Approved Operating Budget” and the “Approved Capital Budget”, respectively, for purposes hereof. The Approved Operating Budget and the Approved Capital Budget shall be known collectively as the “Budget” for purposes hereof. Should the budgeting process be delayed for any reason, until such delay is resolved Management Company will manage the Facility under the prior Fiscal Year’s Budget adjusted for the change in the Consumer Price Index from the year, and adjusting for occupancy changes on a per resident day basis, except for uncontrollable Operating Expenses (taxes, insurance, utilities, etc.), which shall be increased to reflect the actual increase in the cost of such Operating Expenses.