Operating Plans and Budgets Sample Clauses

Operating Plans and Budgets. At least sixty (60) days prior to each January 1 occurring after the applicable Term Loan Conversion Date, it will submit to the Term Agent for approval a proposed Operating Plan and Budget for each Project for the three Operating Years commencing on each such January 1, together with a reconciliation of actual expenses versus those projected in the previously delivered Operating Plan and Budget. The Term Agent will have the right to request revisions to each proposed Operating Plan and Budget, and after an Operating Plan and Budget has been finalized and approved by the Term Agent, it will, and will cause the Affiliates to, follow and comply with such Operating Plan and Budget in all particulars. It will have the right to revise any Operating Plan and Budget with the prior written approval of the Term Agent. Once approved by the Term Agent, an Operating Plan and Budget or a revised Operating Plan and Budget will supersede all prior Operating Plans and Budgets and will continue in effect until a subsequent Operating Plan and Budget has been approved by the Term Agent.

Operating Plans and Budgets. 22 7.3 Approval of Operating Plans, Budgets, and Maintenance Program 23 7.4 Changes in Plans or Budgets 23 7.5 Monthly Meetings; Modification of Operating Plan 24 7.6 Deviation 25 ARTICLE VIII. RESPONSIBILITY FOR COSTS AND EXPENSES 25 8.1 Owner and Operator Responsibility; Procurement of Materials and Services 25 8.2 Operating Expenses 25 8.3 Limitations 26 8.4 O&M Accounts 27 8.5 Funding of O&M Accounts 27 8.6 Billing Reports; Invoices 27 8.7 Budget Reconciliation 28 8.8 Taxes 28 ARTICLE IX. FEES, AND BONUSES 28 9.1 Fees During Pre-Mobilization Period and Mobilization and Start-Up Period 28 9.2 Fees During the Operating Period 28 9.3 Bonus 28 ARTICLE X. FORCE MAJEURE 29 10.1 Nonperformance 29 10.2 Obligation to Diligently Cure Force Majeure 29 10.3 Effect of Continued Event of Force Majeure 29 ARTICLE XI. EVENTS OF DEFAULT AND REMEDIES 30 11.1 Operator Events of Default 30 11.2 Owner Events of Default 30 11.3 Remedies 30 11.4 Termination Procedure 31 11.6 Successor to Operator 31 11.7 Survival of Certain Provisions 32 ARTICLE XII. INDEMNIFICATION 32 12.1 Loss or Damage to the Facility 32 12.2 Operator Indemnity 32 12.3 Owner Indemnity 33 12.4 Other Indemnity Rules 33 ARTICLE XIII. LIMITATION OF LIABILITY 33 13.1 Limitation of Liability 33 13.2 CONSEQUENTIAL DAMAGES 34 ARTICLE XIV. INSURANCE 34 14.1 Owner’s Insurance 34 14.2 Operator’s Insurance 34 14.3 Other Requirements and Insurance Certificates 34 14.4 Budget 35 14.5 Disclosure of Claims 35 ARTICLE XV. ASSIGNMENT 35 ARTICLE XVI. CONFIDENTIALITY 35 16.1 Confidential Information 35 16.2 Permitted Disclosure 35 16.3 Additional Undertakings of Operator 36 16.4 Public Announcements 36 ARTICLE XVII. EMERGENCIES 36 17.1 Emergencies 36 17.2 Notice; Further Action 36 17.3 Owner’s Notice 37 ARTICLE XVIII. DISPUTE RESOLUTION 37 18.1 Negotiation 37 18.2 Arbitration 37 18.3 Continuation of Work During Dispute 38 ARTICLE XIX. NOTICES 38 19.1 Notice 38 19.2 Effective Time of Notice 38 ARTICLE XX. REPRESENTATIONS AND WARRANTIES 39 20.1 Representations and Warranties by Each Party 39 20.2 Additional Representations and Warranties by Operator 40 ARTICLE XXI. MISCELLANEOUS 40 21.1 Severability 40 21.2 Entire Agreement 40 21.3 Amendment 40 21.4 Additional Documents and Actions 40 21.5 Schedules 40 21.6 Interest for Late Payment 40 21.7 Services Only Contract 40 21.8 Counterparts 41 21.9 Governing Law 41 21.10 No Third Party Beneficiary 41 21.11 No Partnership 41

Operating Plans and Budgets. The Annual Budget for calendar year 2018 shall be the budget attached hereto as Schedule 2(m) (the “Initial Budget”). Each of Tenant and

Operating Plans and Budgets