Approved Annual Budget definition
Approved Annual Budget shall have the meaning set forth in Section 5.1.11(d) hereof.
Approved Annual Budget means each Annual Budget approved by Lender in accordance with the terms hereof.
Approved Annual Budget shall have the meaning set forth in Section 4.1.7(e).
Examples of Approved Annual Budget in a sentence
During the continuance of a Trigger Period, in the event that Borrower incurs an extraordinary operating expense not set forth in the Approved Annual Budget (each an “Extraordinary Operating Expense”), then Borrower shall promptly deliver to Agent a reasonably detailed explanation of such proposed Extraordinary Operating Expense for Agent’s approval.
During the continuance of a Trigger Period, until such time that any Annual Budget has been approved by Agent, the prior Approved Annual Budget shall apply for all purposes hereunder (with such adjustments as reasonably determined by Agent to reflect actual increases in Taxes, Insurance Premiums and utilities expenses).
More Definitions of Approved Annual Budget
Approved Annual Budget has the meaning set forth in Section 4.3.2.
Approved Annual Budget. As defined in the Loan Agreement.
Approved Annual Budget shall have the meaning assigned to such term in Section 8.16(a).
Approved Annual Budget. 6.8.3 “Approved Extraordinary Operating Expense” – 6.8.4
Approved Annual Budget has the meaning set forth in Section 7.1(b)(v).
Approved Annual Budget. In the event of a Transfer of any Property the Approved Annual Budget shall be reduced as reasonably determined by Lender in consultation with Borrower in order to reflect the removal of such Property and the Operating Expenses associated therewith; provided, further, that no such reduction shall be made in the event such Transfer is made in connection with a substitution under Section 2.4.
Approved Annual Budget means an Annual Budget (including the Initial Annual Budget) approved by the Management Committee or the Members in accordance with this Agreement.