Common use of Unbudgeted Expenditures Clause in Contracts

Unbudgeted Expenditures. The Westlake Parties shall notify Owner as soon as practicable of any occurrences or other circumstances which the Westlake Parties have reason to believe may (a) cause any line item in the most recently Approved Annual Budget (as updated pursuant to Section 8.1) to be exceeded by the greater of (i) twenty percent (20%); or (ii) 1 million US dollars or (b) cause the total amount of such Approved Annual Budget to be exceeded by the greater of (i) twenty percent (20%); or (ii) 1