{"component": "clause", "props": {"groups": [{"snippet": "On or before December 1 of each year, Manager shall prepare and submit to Company for its consent an operating budget with respect to the Properties for the next ensuing calendar year (the \u201cBudget\u201d). If Company does not consent to the Budget submitted By Manager then, pending such consent or the submission to Manager by Company of an alternative Budget, Manager shall be authorized to rely on the Budget for the prior year, but with a four percent (4%) increase in each line item.", "snippet_links": [{"key": "before-december", "type": "clause", "offset": [6, 21]}, {"key": "each-year", "type": "definition", "offset": [27, 36]}, {"key": "to-company", "type": "definition", "offset": [71, 81]}, {"key": "an-operating", "type": "clause", "offset": [98, 110]}, {"key": "with-respect-to", "type": "clause", "offset": [118, 133]}, {"key": "the-properties", "type": "clause", "offset": [134, 148]}, {"key": "calendar-year", "type": "definition", "offset": [170, 183]}, {"key": "consent-to", "type": "definition", "offset": [220, 230]}, {"key": "the-budget", "type": "definition", "offset": [231, 241]}, {"key": "by-manager", "type": "clause", "offset": [252, 262]}, {"key": "to-manager", "type": "definition", "offset": [308, 318]}, {"key": "by-company", "type": "clause", "offset": [319, 329]}, {"key": "prior-year", "type": "definition", "offset": [414, 424]}, {"key": "line-item", "type": "definition", "offset": [472, 481]}], "size": 21, "samples": [{"hash": "amfegE2gEVK", "uri": "/contracts/amfegE2gEVK#operating-budget", "label": "Real Property Management Agreement (Hartman Short Term Income Properties XX, Inc.)", "score": 24.6837787628, "published": true}, {"hash": "6X9NbJZaFlk", "uri": "/contracts/6X9NbJZaFlk#operating-budget", "label": "Real Property Management Agreement (Hartman Short Term Income Properties XX, Inc.)", "score": 24.6618747711, "published": true}, {"hash": "6uckqCfgsTY", "uri": "/contracts/6uckqCfgsTY#operating-budget", "label": "Real Property Management Agreement (Hartman Short Term Income Properties XX, Inc.)", "score": 24.5879535675, "published": true}], "hash": "a6868224f0471b18ea83744303060084", "id": 3}, {"snippet": "(a) No less than forty-five (45) days prior to the Substantial Completion of each train of the Project, and no less than forty-five (45) days prior to the beginning of each calendar year thereafter, the Borrower shall prepare a proposed operating plan and a budget setting forth in reasonable detail the projected requirements for Operation and Maintenance Expenses for the Borrower and the Project for the ensuing calendar year (or, in the case of the initial Operating Budget, the remaining portion thereof) and provide the Independent Engineer, the Common Security Trustee, and the Senior Facility Agent with a copy of such operating plan and budget (the \u201cOperating Budget\u201d). Each Operating Budget shall be prepared in accordance with a form approved by the Independent Engineer, shall set forth all material assumptions used in the preparation of such Operating Budget, and shall become effective upon approval of the Senior Facility Agent, acting reasonably and in consultation with the Independent Engineer; provided, that if the Senior Facility Agent shall not have approved or disapproved the Operating Budget within thirty (30) days after receipt thereof, such Operating Budget shall be deemed to have been approved; and provided, further that the Senior Facility Agent shall have neither the right nor the obligation to approve costs for Gas purchase contracts for the Project contained in the Operating Budget. If the Borrower does not have an effective annual Operating Budget before the beginning of any calendar year, until such proposed Operating Budget is approved, the Operating Budget most recently in effect shall continue to apply; provided, that (A) any items of the proposed Operating Budget that have been approved shall be given effect in substitution of the corresponding items in the Operating Budget most recently in effect, (B) costs for Gas purchase contracts for the Project shall be as provided by the Borrower and (C) all other items shall be increased by the lesser of (x) two and one-half percent (2.5%) and (y) the increase proposed by the Borrower for such item in such proposed Operating Budget.\n(b) Each Operating Budget delivered pursuant to this Section 1.12 shall contain Operating Budget Categories, and shall specify for each Fiscal Quarter and for each such Operating Budget Category the amount budgeted for such category for such Fiscal Quarter.", "snippet_links": [{"key": "prior-to-the", "type": "clause", "offset": [38, 50]}, {"key": "completion-of", "type": "definition", "offset": [63, 76]}, {"key": "the-project", "type": "definition", "offset": [91, 102]}, {"key": "beginning-of", "type": "clause", "offset": [155, 167]}, {"key": "each-calendar-year", "type": "definition", "offset": [168, 186]}, {"key": "the-borrower-shall", "type": "clause", "offset": [199, 217]}, {"key": "proposed-operating-plan", "type": "definition", "offset": [228, 251]}, {"key": "budget-setting", "type": "clause", "offset": [258, 272]}, {"key": "operation-and-maintenance-expenses", "type": "clause", "offset": [331, 365]}, {"key": "the-borrower-and-the", "type": "clause", "offset": [370, 390]}, {"key": "in-the-case", "type": "clause", "offset": [434, 445]}, {"key": "initial-operating-budget", "type": "definition", "offset": [453, 477]}, {"key": "remaining-portion", "type": "definition", "offset": [483, 500]}, {"key": "the-independent-engineer", "type": "clause", "offset": [522, 546]}, {"key": "common-security-trustee", "type": "definition", "offset": [552, 575]}, {"key": "the-senior-facility-agent", "type": "clause", "offset": [581, 606]}, {"key": "a-copy-of", "type": "clause", "offset": [612, 621]}, {"key": "operating-plan-and-budget", "type": "definition", "offset": [627, 652]}, {"key": "be-prepared", "type": "clause", "offset": [707, 718]}, {"key": "in-accordance-with", "type": "definition", "offset": [719, 737]}, {"key": "approved-by", "type": "definition", "offset": [745, 756]}, {"key": "preparation-of", "type": "clause", "offset": [836, 850]}, {"key": "approval-of", "type": "definition", "offset": [906, 917]}, {"key": "acting-reasonably", "type": "clause", "offset": [945, 962]}, {"key": "in-consultation-with", "type": "definition", "offset": [967, 987]}, {"key": "agent-shall", "type": "definition", "offset": [1052, 1063]}, {"key": "within-thirty", "type": "clause", "offset": [1118, 1131]}, {"key": "days-after", "type": "definition", "offset": [1137, 1147]}, {"key": "the-right", "type": "clause", "offset": [1298, 1307]}, {"key": "to-approve", "type": "clause", "offset": [1327, 1337]}, {"key": "contracts-for", "type": "clause", "offset": [1361, 1374]}, {"key": "contained-in", "type": "definition", "offset": [1387, 1399]}, {"key": "annual-operating-budget", "type": "definition", "offset": [1465, 1488]}, {"key": "proposed-operating-budget", "type": "definition", "offset": [1543, 1568]}, {"key": "in-effect", "type": "definition", "offset": [1617, 1626]}, {"key": "to-apply", "type": "clause", "offset": [1642, 1650]}, {"key": "the-proposed", "type": "clause", "offset": [1684, 1696]}, {"key": "by-the-borrower", "type": "clause", "offset": [1926, 1941]}, {"key": "other-items", "type": "definition", "offset": [1954, 1965]}, {"key": "increased-by", "type": "clause", "offset": [1975, 1987]}, {"key": "lesser-of", "type": "definition", "offset": [1992, 2001]}, {"key": "pursuant-to", "type": "clause", "offset": [2169, 2180]}, {"key": "budget-categories", "type": "clause", "offset": [2223, 2240]}, {"key": "fiscal-quarter", "type": "definition", "offset": [2269, 2283]}, {"key": "operating-budget-category", "type": "definition", "offset": [2302, 2327]}], "size": 71, "samples": [{"hash": "e6vLZfiwXYZ", "uri": "/contracts/e6vLZfiwXYZ#operating-budget", "label": "Common Terms Agreement (Sabine Pass Liquefaction, LLC)", "score": 31.1492137909, "published": true}, {"hash": "4VzBXOijkiX", "uri": "/contracts/4VzBXOijkiX#operating-budget", "label": "Common Terms Agreement (Cheniere Energy, Inc.)", "score": 31.1492137909, "published": true}, {"hash": "2tiIipVPQsG", "uri": "/contracts/2tiIipVPQsG#operating-budget", "label": "Common Terms Agreement (Cheniere Energy Partners, L.P.)", "score": 31.1492137909, "published": true}], "hash": "7b61e854762d5a2ea160018c38ec949f", "id": 1}, {"snippet": "Borrower shall furnish to Lender on or prior to the Closing Date and for each fiscal year of Borrower thereafter not less than thirty (30) calendar days prior to the commencement of such fiscal year, consolidated and consolidating month by month projected operating budgets, annual projections, profit and loss statements, balance sheets and cash flow reports of and for Borrower for such upcoming fiscal year (including an income statement for each month and a balance sheet as at the end of the last month in each fiscal quarter), in each case prepared in accordance with GAAP consistently applied with prior periods.", "snippet_links": [{"key": "borrower-shall", "type": "clause", "offset": [0, 14]}, {"key": "furnish-to-lender", "type": "clause", "offset": [15, 32]}, {"key": "prior-to-the-closing-date", "type": "clause", "offset": [39, 64]}, {"key": "fiscal-year-of-borrower", "type": "clause", "offset": [78, 101]}, {"key": "commencement-of", "type": "clause", "offset": [166, 181]}, {"key": "consolidated-and-consolidating", "type": "clause", "offset": [200, 230]}, {"key": "operating-budgets", "type": "definition", "offset": [256, 273]}, {"key": "annual-projections", "type": "definition", "offset": [275, 293]}, {"key": "profit-and-loss-statements", "type": "definition", "offset": [295, 321]}, {"key": "balance-sheets", "type": "definition", "offset": [323, 337]}, {"key": "reports-of", "type": "clause", "offset": [352, 362]}, {"key": "income-statement", "type": "clause", "offset": [424, 440]}, {"key": "at-the-end-of-the", "type": "clause", "offset": [479, 496]}, {"key": "last-month", "type": "definition", "offset": [497, 507]}, {"key": "fiscal-quarter", "type": "definition", "offset": [516, 530]}, {"key": "each-case", "type": "definition", "offset": [536, 545]}, {"key": "in-accordance-with", "type": "definition", "offset": [555, 573]}, {"key": "gaap-consistently-applied", "type": "definition", "offset": [574, 599]}], "size": 23, "samples": [{"hash": "gYnwFKr4Em9", "uri": "/contracts/gYnwFKr4Em9#operating-budget", "label": "Revolving Credit and Security Agreement (Synavant Inc)", "score": 21.0, "published": true}, {"hash": "dFVYPBNbw9e", "uri": "/contracts/dFVYPBNbw9e#operating-budget", "label": "Credit and Security Agreement (Ventures National Inc)", "score": 21.0, "published": true}, {"hash": "4Vg58nsssUW", "uri": "/contracts/4Vg58nsssUW#operating-budget", "label": "Revolving Credit and Security Agreement (Derma Sciences, Inc.)", "score": 21.0, "published": true}], "hash": "cab6a5dd0a9bbd8babe0bd43959f71d1", "id": 2}, {"snippet": "Attached hereto as Exhibit E is a true, complete and correct copy of the operating budget for each Borrower\u2019s or Operating Lessee\u2019s Individual Property for the period between the Closing Date and December 31, 2005, which Operating Budget has been approved by Lender pursuant to the terms of this Agreement.", "snippet_links": [{"key": "exhibit-e", "type": "clause", "offset": [19, 28]}, {"key": "complete-and-correct", "type": "clause", "offset": [40, 60]}, {"key": "each-borrower", "type": "clause", "offset": [94, 107]}, {"key": "operating-lessee", "type": "clause", "offset": [113, 129]}, {"key": "individual-property", "type": "definition", "offset": [132, 151]}, {"key": "the-period", "type": "clause", "offset": [156, 166]}, {"key": "the-closing-date", "type": "clause", "offset": [175, 191]}, {"key": "by-lender", "type": "clause", "offset": [256, 265]}, {"key": "terms-of-this-agreement", "type": "clause", "offset": [282, 305]}], "size": 17, "samples": [{"hash": "kI0oN6r4Nf6", "uri": "/contracts/kI0oN6r4Nf6#operating-budget", "label": "Loan Agreement (Ashford Hospitality Trust Inc)", "score": 23.1574268341, "published": true}, {"hash": "htkUJKoA0rj", "uri": "/contracts/htkUJKoA0rj#operating-budget", "label": "Loan Agreement (Ashford Hospitality Trust Inc)", "score": 23.1574268341, "published": true}, {"hash": "emM8OIfPjFY", "uri": "/contracts/emM8OIfPjFY#operating-budget", "label": "Loan Agreement (Ashford Hospitality Trust Inc)", "score": 23.1574268341, "published": true}], "hash": "d51fdaf8d630db799b3f1f8a360f6650", "id": 5}, {"snippet": "(a) Commencing January 1, 2017, not later than the beginning of each Fiscal Year the Borrower shall prepare or cause to be prepared an annual Operating Budget with respect to the Project for the ensuing Fiscal Year. Such Operating Budget shall set forth in reasonable detail the estimated Project Revenues, Operating Expenses, and Capital Expenditures from the Replacement Reserve Fund for the Project for such Fiscal Year and the estimated investment income and estimated amounts to be deposited in and withdrawn from (and the purposes for such withdrawals) the Escrow Fund, Replacement Reserve Fund and Administrative Expense Account under the Indenture. The Borrower may at any time adopt an amended Operating Budget for the remainder of the then current Fiscal Year. Copies of the Operating Budget and of any amended Operating Budget shall be filed no later than June 15th of the year preceding such Fiscal Year with the Trustee, the Issuer (at its written request), the Financial Monitor, the Significant Bondholder, if any, and each Owner requesting the same (at the address supplied to the Trustee by such Owner or its authorized representative).\n(b) The Operating Budget or amended Operating Budget to be adopted by the Borrower shall provide for monthly deposits into the funds and accounts in the amounts required under Section 5.02(a) or (b) of the Indenture, as applicable. The Operating Budget shall contain an estimate of the taxes (if any), assessments (if any) and insurance premiums next coming due with respect to the Project, and such estimate shall not be less than the respective amounts most recently having come due with respect to such taxes, assessments and insurance premiums, unless the Borrower shall have competent evidence that there is to be a decrease in such taxes, assessments and insurance premiums.", "snippet_links": [{"key": "beginning-of", "type": "clause", "offset": [51, 63]}, {"key": "the-borrower-shall", "type": "clause", "offset": [81, 99]}, {"key": "be-prepared", "type": "clause", "offset": [120, 131]}, {"key": "annual-operating-budget", "type": "definition", "offset": [135, 158]}, {"key": "with-respect-to", "type": "clause", "offset": [159, 174]}, {"key": "the-project", "type": "definition", "offset": [175, 186]}, {"key": "ensuing-fiscal-year", "type": "definition", "offset": [195, 214]}, {"key": "project-revenues", "type": "clause", "offset": [289, 305]}, {"key": "operating-expenses", "type": "definition", "offset": [307, 325]}, {"key": "capital-expenditures", "type": "definition", "offset": [331, 351]}, {"key": "replacement-reserve-fund", "type": "definition", "offset": [361, 385]}, {"key": "investment-income", "type": "definition", "offset": [441, 458]}, {"key": "to-be-deposited", "type": "definition", "offset": [481, 496]}, {"key": "the-escrow-fund", "type": "clause", "offset": [559, 574]}, {"key": "administrative-expense-account", "type": "clause", "offset": [605, 635]}, {"key": "the-indenture", "type": "clause", "offset": [642, 655]}, {"key": "at-any-time", "type": "clause", "offset": [674, 685]}, {"key": "current-fiscal-year", "type": "definition", "offset": [750, 769]}, {"key": "copies-of-the", "type": "clause", "offset": [771, 784]}, {"key": "the-year", "type": "definition", "offset": [880, 888]}, {"key": "the-issuer", "type": "definition", "offset": [934, 944]}, {"key": "written-request", "type": "clause", "offset": [953, 968]}, {"key": "financial-monitor", "type": "definition", "offset": [975, 992]}, {"key": "significant-bondholder", "type": "definition", "offset": [998, 1020]}, {"key": "to-the-trustee", "type": "clause", "offset": [1090, 1104]}, {"key": "authorized-representative", "type": "definition", "offset": [1126, 1151]}, {"key": "by-the-borrower", "type": "clause", "offset": [1221, 1236]}, {"key": "provide-for", "type": "definition", "offset": [1243, 1254]}, {"key": "monthly-deposits", "type": "definition", "offset": [1255, 1271]}, {"key": "funds-and-accounts", "type": "definition", "offset": [1281, 1299]}, {"key": "insurance-premiums", "type": "definition", "offset": [1481, 1499]}, {"key": "competent-evidence", "type": "definition", "offset": [1734, 1752]}], "size": 15, "samples": [{"hash": "1qpPMH49BM7", "uri": "/contracts/1qpPMH49BM7#operating-budget", "label": "Loan Agreement", "score": 32.1684608459, "published": true}, {"hash": "ajQ8yZdsmUU", "uri": "/contracts/ajQ8yZdsmUU#operating-budget", "label": "Loan Agreement", "score": 24.3018474579, "published": true}, {"hash": "3Jj9gVfvCrR", "uri": "/contracts/3Jj9gVfvCrR#operating-budget", "label": "Loan Agreement", "score": 24.3018474579, "published": true}], "hash": "1212a19a0f0a34960708e2b8425ac6ed", "id": 7}, {"snippet": "The Association will, on an annual basis, prior to the end of a Fiscal Year, develop all budgets required for the Association's operations, roles and responsibilities at or from the Jointly Operated Facilities for the Association\u2019s upcoming Fiscal Year, including its estimated Operations Fee payment. The Association will share its budgets with the Park Board prior to the beginning of the Association\u2019s upcoming Fiscal Year. If requested by the Association and agreed to by the Park Board, Park Board staff and/or the Recreation Supervisor will support the Association in the creation of these budgets. The Park Board will, on an annual basis, develop an operating and capital budget for the Community Centre Network. The Park Board\u2019s budget shall be subject to approval of the Park Board Commissioners. Park Board staff will review the operating budget of each facility in the Community Centre Network and, in its sole discretion, reserves the right to make adjustments to increase or decrease the operating budget for all or any part of the Community Centre Network, including by increasing or decreasing the budget for the Jointly Operated Facilities. The Park Board, to the best of its ability, will provide a copy of the annual operating budget for the Jointly Operated Facilities to the Association. The list of maintenance, repair and upgrade items prioritized for the Jointly Operated Facilities and Common Spaces for that given year\u2019s annual budget in accordance with Section 13.1 will be included. The Association acknowledges that some amounts in the Park Board budget are centrally budgeted for and will not be broken out on a facility by facility basis. The Association acknowledges and agrees that the Park Board budget, including allocations to operating and capital resources for the Jointly Operated Facilities, Common Spaces and the Community Centre Network, are in the sole discretion of the Park Board.", "snippet_links": [{"key": "the-association-will", "type": "clause", "offset": [0, 20]}, {"key": "annual-basis", "type": "definition", "offset": [28, 40]}, {"key": "prior-to-the", "type": "clause", "offset": [42, 54]}, {"key": "fiscal-year", "type": "definition", "offset": [64, 75]}, {"key": "for-the-association", "type": "definition", "offset": [106, 125]}, {"key": "roles-and-responsibilities", "type": "definition", "offset": [140, 166]}, {"key": "jointly-operated-facilities", "type": "definition", "offset": [182, 209]}, {"key": "fee-payment", "type": "definition", "offset": [289, 300]}, {"key": "park-board", "type": "definition", "offset": [350, 360]}, {"key": "beginning-of-the", "type": "clause", "offset": [374, 390]}, {"key": "by-the-association", "type": "clause", "offset": [440, 458]}, {"key": "agreed-to-by-the", "type": "definition", "offset": [463, 479]}, {"key": "board-staff", "type": "definition", "offset": [497, 508]}, {"key": "recreation-supervisor", "type": "definition", "offset": [520, 541]}, {"key": "operating-and-capital-budget", "type": "definition", "offset": [657, 685]}, {"key": "community-centre-network", "type": "definition", "offset": [694, 718]}, {"key": "approval-of", "type": "definition", "offset": [764, 775]}, {"key": "budget-of", "type": "clause", "offset": [849, 858]}, {"key": "in-the-community", "type": "definition", "offset": [873, 889]}, {"key": "sole-discretion", "type": "clause", "offset": [917, 932]}, {"key": "adjustments-to", "type": "clause", "offset": [961, 975]}, {"key": "increase-or-decrease", "type": "clause", "offset": [976, 996]}, {"key": "the-budget", "type": "definition", "offset": [1109, 1119]}, {"key": "annual-operating-budget", "type": "definition", "offset": [1228, 1251]}, {"key": "common-spaces", "type": "clause", "offset": [1410, 1423]}, {"key": "given-year", "type": "definition", "offset": [1433, 1443]}, {"key": "annual-budget", "type": "definition", "offset": [1446, 1459]}, {"key": "in-accordance-with", "type": "definition", "offset": [1460, 1478]}, {"key": "a-facility", "type": "definition", "offset": [1639, 1649]}, {"key": "by-facility", "type": "clause", "offset": [1650, 1661]}, {"key": "resources-for", "type": "clause", "offset": [1784, 1797]}], "size": 12, "samples": [{"hash": "ebqUGO5Qst3", "uri": "/contracts/ebqUGO5Qst3#operating-budget", "label": "Joint Operating Agreement", "score": 28.3197212219, "published": true}, {"hash": "f5FtyXNBnpt", "uri": "/contracts/f5FtyXNBnpt#operating-budget", "label": "Joint Operating Agreement", "score": 26.3197212219, "published": true}, {"hash": "ai5AM58bKnX", "uri": "/contracts/ai5AM58bKnX#operating-budget", "label": "Joint Operating Agreement", "score": 23.0191650391, "published": true}], "hash": "87dfa4f4d28f984598aecd9aa7853f92", "id": 8}, {"snippet": "The operating budget approved by the Board of Directors which shall show a detailed estimate of Total Power Costs for a Power Supply Year and all revenues, income or other funds to be applied to Total Power Costs for and applicable to such Power Supply Year.", "snippet_links": [{"key": "by-the-board-of-directors", "type": "clause", "offset": [30, 55]}, {"key": "detailed-estimate", "type": "definition", "offset": [75, 92]}, {"key": "total-power-costs", "type": "clause", "offset": [96, 113]}, {"key": "power-supply-year", "type": "clause", "offset": [120, 137]}, {"key": "all-revenues", "type": "definition", "offset": [142, 154]}, {"key": "other-funds", "type": "definition", "offset": [166, 177]}, {"key": "applicable-to", "type": "definition", "offset": [221, 234]}], "size": 15, "samples": [{"hash": "dlPuLUwsRkf", "uri": "/contracts/dlPuLUwsRkf#operating-budget", "label": "Power Sales Agreement", "score": 32.0846176147, "published": true}, {"hash": "kG0WmRQzAOw", "uri": "/contracts/kG0WmRQzAOw#operating-budget", "label": "Power Sales Agreement", "score": 32.024394989, "published": true}, {"hash": "5rE4AVjqCQm", "uri": "/contracts/5rE4AVjqCQm#operating-budget", "label": "Power Sales Agreement", "score": 31.3390369415, "published": true}], "hash": "791e1692caa111c6d823a32c851827af", "id": 6}, {"snippet": "Within 75 days after the end of each Fiscal Year, a copy of the Consolidated operating budget of the Borrower and its Subsidiaries for each fiscal month in such Fiscal Year.", "snippet_links": [{"key": "days-after", "type": "definition", "offset": [10, 20]}, {"key": "fiscal-year", "type": "definition", "offset": [37, 48]}, {"key": "a-copy-of-the", "type": "clause", "offset": [50, 63]}, {"key": "borrower-and-its-subsidiaries", "type": "definition", "offset": [101, 130]}, {"key": "fiscal-month", "type": "definition", "offset": [140, 152]}], "size": 11, "samples": [{"hash": "7hQrPbjwjrm", "uri": "/contracts/7hQrPbjwjrm#operating-budget", "label": "Credit Agreement (Tenet Healthcare Corp)", "score": 32.3073234558, "published": true}, {"hash": "6nPmmJMTY4J", "uri": "/contracts/6nPmmJMTY4J#operating-budget", "label": "Credit Agreement (Tenet Healthcare Corp)", "score": 31.3189601898, "published": true}, {"hash": "9RPQcTHmMbp", "uri": "/contracts/9RPQcTHmMbp#operating-budget", "label": "Credit Agreement (Tenet Healthcare Corp)", "score": 30.697467804, "published": true}], "hash": "b98f0c4139232bb66536e3b229035d4f", "id": 9}, {"snippet": "The term \u201c", "snippet_links": [{"key": "the-term", "type": "definition", "offset": [0, 8]}], "size": 18, "samples": [{"hash": "hOvdoxDaHTH", "uri": "/contracts/hOvdoxDaHTH#operating-budget", "label": "Limited Liability Company Agreement", "score": 31.3408622742, "published": true}, {"hash": "fFkGNrLai9a", "uri": "/contracts/fFkGNrLai9a#operating-budget", "label": "Operating Agreement", "score": 31.3408622742, "published": true}, {"hash": "2mE0TmwEMSW", "uri": "/contracts/2mE0TmwEMSW#operating-budget", "label": "Operating Agreement", "score": 31.3408622742, "published": true}], "hash": "e6abc5b81feb3c0a954d10eb23e67d9b", "id": 4}, {"snippet": "No later than thirty (30) days after the end of each Fiscal Year, a copy of the Borrower\u2019s and Guarantor\u2019s Fiscal Year consolidated operating budget.", "snippet_links": [{"key": "days-after", "type": "definition", "offset": [26, 36]}, {"key": "fiscal-year", "type": "definition", "offset": [53, 64]}, {"key": "of-the-borrower", "type": "clause", "offset": [73, 88]}], "size": 10, "samples": [{"hash": "jQu4vFfZ7E", "uri": "/contracts/jQu4vFfZ7E#operating-budget", "label": "Revolving Loan and Security Agreement (Diversicare Healthcare Services, Inc.)", "score": 31.8446273804, "published": true}, {"hash": "7dfntg0gKiL", "uri": "/contracts/7dfntg0gKiL#operating-budget", "label": "Revolving Loan and Security Agreement (Diversicare Healthcare Services, Inc.)", "score": 31.8446273804, "published": true}, {"hash": "4NoVWsVe1D8", "uri": "/contracts/4NoVWsVe1D8#operating-budget", "label": "Term Loan and Security Agreement (Diversicare Healthcare Services, Inc.)", "score": 31.8446273804, "published": true}], "hash": "bb9625762daabe89db1a05390e230cee", "id": 10}], "next_curs": "ClkSU2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjULEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhlvcGVyYXRpbmctYnVkZ2V0IzAwMDAwMDBhDKIBAmVuGAAgAA==", "clause": {"parents": [["affirmative-covenants", "AFFIRMATIVE COVENANTS"], ["financial-statements-reports-and-other-information", "Financial Statements Reports and Other Information"], ["miscellaneous", "Miscellaneous"], ["definitions", "Definitions"], ["reporting-requirements", "Reporting Requirements"]], "size": 858, "title": "Operating Budget", "children": [["", ""], ["operating-budget", "Operating Budget"], ["insurance", "Insurance"], ["adherence-to-operating-budget", "Adherence to Operating Budget"], ["establishment-of-operating-budget", "Establishment of Operating Budget"]], "id": "operating-budget", "related": [["operating-budgets", "Operating Budgets", "<strong>Operating Budgets</strong>"], ["annual-operating-budget", "Annual Operating Budget", "Annual <strong>Operating Budget</strong>"], ["annual-budget", "Annual Budget", "Annual Budget"], ["annual-budgets", "Annual Budgets", "Annual Budgets"], ["projected-operating-budget", "Projected Operating Budget", "Projected <strong>Operating Budget</strong>"]], "related_snippets": [], "updated": "2026-05-15T04:24:17+00:00", "also_ask": ["What mechanisms ensure transparency and accountability in the operating budget process?", "Which party controls budget approval and how can this leverage be negotiated?", "What are the consequences if the operating budget is not agreed upon or is exceeded?", "How does this clause compare to industry standards for budgetary control?", "What provisions are essential to withstand enforceability challenges in court?"], "drafting_tip": "Specify budget approval procedures to ensure accountability, define expense categories to prevent misuse, and set reporting timelines to facilitate oversight.", "explanation": "The Operating Budget clause defines the process and requirements for preparing, approving, and managing the financial plan that covers the routine expenses of a business or project. Typically, this clause outlines who is responsible for drafting the budget, the timeline for submission and approval, and the categories of expenses included, such as salaries, utilities, and maintenance. Its core function is to ensure financial discipline and transparency by setting clear expectations for how operational funds are allocated and spent, thereby preventing disputes and promoting efficient resource management."}, "json": true, "cursor": ""}}