Approved Annual Operating Budget definition

Approved Annual Operating Budget shall have the meaning set forth in Section 5.1(q).
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Approved Annual Operating Budget has the meaning set forth in Section 13.7.
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Approved Annual Operating Budget means the a operating budget approved by the Port Authority as part of the Annual Business Plan pursuant to Section 9.A, and covering the anticipated operating expenses and revenues of the Hotel for the applicable period, maintenance of any reserve amounts required by the Indenture or the Port Authority from time to time, including, as an example, the Extraordinary Expense Fund.
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Examples of Approved Annual Operating Budget in a sentence

  • The Approved Annual Operating Budget for each year shall be determined in advance by unanimous agreement of the parties.

  • All parties must pay wage or benefit increases as required by union contracts; other expenses can have ceilings applied per (a), (b), and (c) above Adoption of an Approved Annual Operating Budget pursuant to this subdivision shall entitle each party to full and complete SLMPD services funded by the SLMPD annual operating budget and preclude delivery of multiple tiers or levels of services to parties.

  • In addition, each Requisition shall contain a certification confirming which amounts requested are, or are not, budgeted in the current Approved Annual Operating Budget.

  • To the extent that the amount requested in a Requisition is budgeted in the current Approved Annual Operating Budget for an Asset, or is not in excess of one hundred and five percent (105%) of the budgeted amount, such amount shall be deemed to be approved by Administrative Agent.

  • Such statements shall also provide for reforecasts, showing any anticipated deviations from the Approved Annual Operating Budget.

  • In 2011, it contributed to more burden of disease (the impact of illness, disability and premature death) than any other risk factor for women aged 25–44.

  • Borrowers shall have delivered, and Administrative Agent shall have approved, the Approved Annual Operating Budget (relating to the Resized Loans Collateral) for the remainder of the current Fiscal Year, amended in form and substance satisfactory to the Requisite Lenders and Administrative Agent in their sole discretion (which shall include a budget for Replacements and Leasing Commissions) to reflect the Resized Loans Collateral.

  • Borrowers shall have delivered, and Administrative Agent shall have approved, the Approved Annual Operating Budget (relating to each Substitution Added Asset) for the remainder of the current Fiscal Year, amended in form and substance satisfactory to the Requisite Lenders and Administrative Agent in their sole discretion (which shall include a budget for Replacements and Leasing Commissions) to reflect the Substitution Event.

  • Borrower shall have delivered, and Administrative Agent shall have approved, the Approved Annual Operating Budget (relating to each Substitution Added Asset) for the remainder of the current Fiscal Year, amended in form and substance satisfactory to the Requisite Lenders and Administrative Agent in their sole discretion (which shall include a budget for Replacements and Leasing Commissions) to reflect the Substitution Event.

  • Until such time that Administrative Agent and, as long as the Mortgage Loan is outstanding, Mortgage Administrative Agent, approves a proposed Annual Operating Budget, the most recently Approved Annual Operating Budget shall apply; provided, however, that such Approved Annual Operating Budget shall be adjusted to reflect actual increases in Impositions, Insurance Premiums and utilities expenses.


More Definitions of Approved Annual Operating Budget

Approved Annual Operating Budget means, with respect to each Fiscal Year of the LLC, the annual budget for the LLC's operations for the existing Business and for expansions, as approved by the Managers, including any revisions thereto.
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Approved Annual Operating Budget has the meaning set forth in Section 5.1.10(f) hereof, as the same may be modified in accordance with the terms hereof.
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Approved Annual Operating Budget shall have the meaning set forth in Section 11.1.
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Approved Annual Operating Budget shall have the meaning given to such term in Section 9(b).
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Related to Approved Annual Operating Budget

  • Approved Annual Budget shall have the meaning set forth in Section 5.1.11(d) hereof.

  • Annual Operating Budget has the meaning set forth in Section 4.11.

  • Annual Operating Plan has the meaning ascribed to it in Section 15.3(b)(i).

  • Annual Budget means the operating budget, including all planned capital expenditures, for the Property prepared by Borrower for the applicable Fiscal Year or other period.

  • Operating Budget has the meaning given in Section 3.11(a).

  • Budget means a resource, expressed in financial terms, proposed by the Board for the purpose of carrying out, for a specific period, any or all of the functions of the Trust.

  • Approved Budget means an annual budget-

  • Annual Operating Expenses for the Class means and will consist only of the following operating expenses of the Series for the Class that are, under generally accepted accounting principles, accruable and deductible from the Series’ assets with respect to the Class for the period involved: (i) investment advisory fees, if any; (ii) Rule 12b-1 distribution fees, if any; and (iii) custodian fees, shareholder servicing fees, administrative and office facilities expenses, professional fees, trustees’ fees and any other operating expenses of the Series with respect to the Class that are recorded or includable in the Series’ statement of operations in accordance with generally accepted accounting principles. Notwithstanding the provisions of the immediately preceding sentence, the Series’ “Annual Operating Expenses” for the Class do not include “acquired fund expenses”, interest and dividends on securities sold short, amortization of organization expenses, taxes, brokerage commissions, litigation and indemnification expenses or any costs or expenses of or for the Series with respect to the Class that are “extraordinary” as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). Very truly yours, ROYCE & ASSOCIATES, LLC By: /s/ Xxxx X. Xxxxxxxxx Xxxx X. Xxxxxxxxx Chief Operating Officer ACCEPTED: THE ROYCE FUND By: /s/ Xxxx X. Xxxxxxxxx Xxxx X. Xxxxxxxxx Vice President [Royce & Associates, LLC letterhead] December 31, 2008 The Royce Fund 0000 Xxxxxx xx xxx Xxxxxxxx Xxx Xxxx, XX 00000 Re: Fee Waiver and Expense Reimbursement – Royce Low-Priced Stock Fund (R Class) Gentlemen: Reference is made to the Investment Advisory Agreement dated October 1, 2001 (the “Agreement”) by and between The Royce Fund (the “Fund”) on behalf of Xxxxx Xxx-Priced Stock Fund (the “Series”) and Royce & Associates (the “Adviser”). Notwithstanding the provisions of Section 4 (Compensation of the Adviser) of the Agreement, the Adviser hereby waives compensation for services provided by it under the Agreement for the period beginning January 1, 2009 and ending April 30, 2010 (the “Period”), and/or agrees to reimburse expenses relating to the Period to the Series with respect to the Class in an amount, if any, necessary so that the Series’ “Annual Operating Expenses” for its R Class of shares (the “Class”) are not more than 1.84% of the Class’ average net assets for the Period. The Adviser hereby also waives compensation for services provided by it under the Agreement to the Series with respect to the Class, and/or agrees to reimburse expenses to the Series with respect to the Class for each subsequent annual period through the annual period ending April 30, 2019 (but not for any annual period thereafter) in an amount, if any, necessary so that the Series’ Annual Operating Expenses for the Class are not more than 1.99% of the Class’ average net assets for such annual period. The Adviser’s obligations to reimburse the Series with respect to the Class hereunder will not apply for any period when the Adviser is not rendering services to such Series under the Agreement.

  • Capital Expenditure Budget shall constitute an estimate for the applicable period of the capital expenditures required to (i) accomplish capital enhancement projects included in the most recently approved Strategic Plan, (ii) maintain and preserve the Partnership's assets in good operating condition and repair and (iii) achieve or maintain compliance with any HSE Law.

  • Operating Plan means a plan adopted or amended under this section for the development, redevelopment, maintenance, operation and promotion of a business improvement district, including all of the following:

  • Initial Budget has the meaning set forth in Section 7.06(a).

  • Capital Budget has the meaning given in Section 3.11(a).

  • Business Plan means the information required to be supplied to the

  • Expansion Capital Expenditures means cash expenditures for Acquisitions or Capital Improvements. Expansion Capital Expenditures shall include interest (including periodic net payments under related interest rate swap agreements) and related fees paid during the Construction Period on Construction Debt. Where cash expenditures are made in part for Expansion Capital Expenditures and in part for other purposes, the General Partner shall determine the allocation between the amounts paid for each.

  • Project Year means the 12 month period beginning from the Effective Date and ending 12 months thereafter and each successive 12 month period following thereafter;

  • Construction Budget means the fully-budgeted costs for the acquisition and construction of a given parcel of real property (including, without limitation, the cost of acquiring such parcel of real property, reserves for construction interest and operating deficits, tenant improvements, leasing commissions, and infrastructure costs) as reasonably determined by the Parent in good faith.

  • Operating Year means the calendar year commencing January 1st of each year (including the calendar year within which the Commencement Date occurs) during the Term.

  • BASE budget means the minimum general fund budget of a district, which includes 80% of the basic

  • Approved Project Budget means the most recent statement, approved by the FTA, of the costs of the Project, the maximum amount of Federal assistance for which the TJPA is currently eligible, the specific tasks (including specified contingencies) covered, and the estimated cost of each task.

  • Annual Work Plan and Budget means the work plan and budget approved by the Bank and adopted by the Borrower in accordance with the provisions of Section I.C of Schedule 2 of this Agreement, as said work plan and budget may be modified from time to time with the written agreement of the Bank.

  • Approved Operating Expenses operating expenses incurred by Borrower which (i) are included in the Approved Operating Budget for the current calendar month, (ii) are for real estate taxes, insurance premiums, electric, gas, oil, water, sewer or other utility service to the Property or (iii) have been approved by Lender, such approval not to be unreasonably withheld, conditioned or delayed.

  • Annual Plan means the annual plan of the Trust which is prepared in accordance with clause 8.1;

  • Incremental Operating Costs means the incremental expenses incurred by the Recipient’s implementing agencies on account of Project implementation, management, and monitoring, including office space rental, utilities, and supplies, bank charges, communications, advertising, vehicle operation, maintenance, and insurance, building and equipment maintenance costs, travel and supervision costs, and salaries of supporting staff, but excluding salaries of officials of the Recipient’s civil service.

  • Model Year means the CI engine manufacturer’s annual production period, which includes January 1st of a calendar year, or if the manufacturer has no annual production period, the calendar year.

  • Approved Capital Expenditures means Capital Expenditures incurred by Borrower and either (i) included in the Approved Annual Budget or (ii) approved by Lender, which approval shall not be unreasonably withheld or delayed.

  • Eligible Expenditure means expenditure solely for the purpose of delivering the Services agreed and set out in the Appendices and Annexes of this Funding Agreement;