Performance Under Operating Budget Sample Clauses
The 'Performance Under Operating Budget' clause defines the requirement for a party to carry out its obligations within the financial limits set by an agreed-upon operating budget. In practice, this means that expenditures, resource allocations, and project activities must not exceed the budgeted amounts, and any deviations typically require prior approval or amendment of the budget. This clause ensures financial discipline and accountability, helping to prevent cost overruns and disputes related to unauthorized spending.
Performance Under Operating Budget. Manager shall use commercially reasonable efforts to achieve the results set forth in the Operating Budget with respect to any Operating Year; provided, however, that Lessee acknowledges that the Operating Budget is a composition of estimates and, therefore, Manager cannot guarantee or warrant that the actual operation of the Hotel for any Operating Year will be as set forth in the Operating Budget for such Operating Year.
Performance Under Operating Budget. Manager shall use commercially reasonable efforts to achieve the results set forth in the Operating Budget with respect to any Operating Year; provided, however, that Owner acknowledges that the Operating Budget is a composition of estimates and, therefore, Manager cannot and does not guarantee or warrant that the actual operation of the Hotel for any Operating Year will be as set forth in the Operating Budget for such Operating Year. During each Operating Year, Manager shall use its commercially reasonable efforts to operate the Hotel within the approved Operating Budget and the Capital Renewals Budget (subject, in the case of any disputed items, to Subsection 4.02.