Common use of Pre-Opening Clause in Contracts

Pre-Opening. Six (6) months prior to the scheduled Commencement Date, Manager shall commence implementation of a pre-opening program which shall include all activities necessary to financially and operationally prepare the Facility for opening. To implement the pre-opening program, Manager shall prepare a comprehensive pre-opening budget which shall be submitted to the Authority for its approval no later than seven (7) months prior to the scheduled Commencement Date ("Pre-Opening Budget"). The Pre-Opening Budget sets forth expenses which Manager anticipates to be necessary or desirable in order to prepare the Facility for the Commencement Date, including without limitation, cash for disbursements, Furnishings and Equipment and Operating Supplies, hiring, training, relocation and temporary lodging of employees, advertising and promotion, office overhead and office space (whether on or off the Property), and travel and business entertainment (including opening celebrations and ceremonies) ("Pre-Opening Expenses"). The Pre-Opening Budget shall be included in an Interim Promissory Note, the Interim Loan, or funded pursuant to the Loan Agreement. The Authority recognizes that the Pre-Opening Budget will have been prepared well in advance of the Commencement Date and will be intended only to be a reasonable estimate, subject to variation due to a number of factors, some of which will be outside of Manager's control (e.g. the time of completion, inflationary factors and varying conditions for the goods and services required). The Authority agrees that the Pre-Opening Budget may be modified from time to time, subject to approval of the Governing Board in accordance with the procedure established by Section 3.9 of this Agreement for adjustments to the Operating Budget and Annual Plan.

Pre-Opening. Six Upon the later of (a) six (6) months prior to the scheduled Commencement Date and (b) fifteen (15) days following the Effective Date, Manager shall commence implementation of a pre-opening program which shall include all activities necessary to financially and operationally prepare the Facility for opening. To implement the pre-opening program, Manager shall prepare a comprehensive pre-opening budget which shall be submitted to the Authority Enterprise for its approval no upon the later than of (x) seven (7) months prior to the scheduled Commencement Date and (y) fifteen (15) days following the Effective Date ("Pre-Opening Budget"). The Pre-Opening Budget sets forth expenses which Manager anticipates to be necessary or desirable in order to prepare the Facility for the Commencement Date, including without limitation, cash for disbursements, Furnishings and Equipment and Operating Supplies, hiring, training, relocation and temporary lodging of employees, advertising and promotion, office overhead and office space (whether on or off the Property), and travel and business entertainment (including opening celebrations and ceremonies) ("Pre-Opening Expenses"). The Pre-Opening Budget shall be included in an Interim Promissory Note, the Interim Loan, or funded pursuant to the Loan Agreement. The Authority Enterprise recognizes that the Pre-Opening Budget will have has been prepared well in advance of the Commencement Date and will be is intended only to be a reasonable estimate, subject to variation due to a number of factors, some of which will be outside of Manager's control (e.g. e.g., the time of completion, inflationary factors and varying conditions for the goods and services required). The Authority Enterprise agrees that the Pre-Opening Budget may be modified from time to time, subject to approval of the Governing Board Enterprise in accordance with the procedure established by Section Article 3.9 of this Agreement for adjustments to the Operating Budget and Annual Plan.