Common use of Operating Issues Clause in Contracts

Operating Issues. (i) approval of annual operating and capital budgets and any amendments and deviations therefrom, exceeding US$5,000,000 in the case of expense items or US$15,000,000 in the case of balance sheet items; (ii) approval of capital expenditures or lease commitments exceeding US$15,000,000, which were not included in the budget previously approved; (iii) entering into any material and/or multi-year contracts or other commitments exceeding US$5,000,000 in the aggregate, including, without limitation, licensing of trademarks or technology; (iv) entering into any business outside of beverages or outside South America; and (v) increases or decreases in product pricing (x) of more than 5% on a cumulative basis, monitored on a monthly basis, if the annual inflation rate in Argentina is up to 15% and (y) of more than 5% on a cumulative basis in real terms (i.e., adjusted for inflation), monitored on a monthly basis, if the annual inflation rate in Argentina is higher than 15%. (vi) approval of annual operating targets referred to in Section 4.08.