Common use of Subsequent Budgets Clause in Contracts

Subsequent Budgets. Beginning in 2018, the Service Provider shall prepare the Service Provider Budget Portion, and LIPA shall prepare, with support from the Service Provider with respect to calculations for taxes, tax matters, PILOTs and depreciation, as may be necessary, and deliver to the Service Provider the LIPA Budget Portion, in each case for each Contract Year (or a multiple Contract Year period as the Parties may agree upon) no later than 210 days prior to the first Contract Year of the applicable budget period. The Service Provider shall thereafter submit the proposed Consolidated LIPA Budget for LIPA’s review, revision and approval no later than 180 days prior to the first Contract Year of the applicable budget period. Within ninety (90) days following its receipt of such proposed Consolidated LIPA Budget, LIPA shall advise the Service Provider whether such proposed Consolidated LIPA Budget is acceptable or requires any modification thereto. If LIPA advises that a modification is required, any disagreement regarding the proposed modification shall be subject to dispute resolution under Section 8.6(I) hereof.