Approved Work Programme and Budget definition

Approved Work Programme and Budget means a Work Programme and Budget approved in accordance with Clause 4.4.
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Approved Work Programme and Budget means a Work Programme and Budget approved in accordance with Article 5.4.
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Approved Work Programme and Budget means a Work Programme and Budget that has been approved in accordance with Article 8;
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Examples of Approved Work Programme and Budget in a sentence

  • Notwithstanding anything in this Agreement, the Company may at any time incur, and may require the Shareholders to fund, Allowable Expenditures that the Manager determines (acting reasonably), and the Board agrees, are necessary to protect life or property or the assets of the Company or to comply with Applicable Laws without an Approved Work Programme and Budget.

  • The Parties agree and acknowledge that the Initial Work Programme and Budget was agreed by the Parties pursuant to the terms of the Framework Agreement and shall constitute an Approved Work Programme and Budget for the purposes of this Agreement.

  • The Shareholders shall cause the Company to establish and administer a contingency fund (the "Contingency Fund") by no later than the Final Earn-In Date, to be funded as part of an Approved Work Programme and Budget.

  • No work shall be conducted or undertaken nor shall any Expenditure be incurred or funded by the Company (either directly or indirectly through its employees, directors, officers or agents, including the Manager), unless such work or Expenditure is contemplated by an Approved Work Programme and Budget and otherwise complies with the provisions of this Agreement.

  • The Company shall ensure that the terms of the applicable Services Agreement provide that the Manager shall not exceed the budget in an Approved Work Programme and Budget by more than 10% (ten percent) unless expressly authorised by the Board prior to incurring Expenditures to fund such overrun.

  • If the Shareholders who have fully subscribed elect to do so, the Ownership Interests of the Shareholders who have not shall be recalculated, as at the date of such further subscription, in accordance with Clause 11.6. If such Approved Work Programme and Budget is still not fully subscribed, then the Board shall curtail or modify the Approved Work Programme and Budget to be consistent with the level of funding subscribed by the Shareholders.

  • If, following all elections having been made pursuant to Clause 10.6, an Approved Work Programme and Budget is not fully subscribed, then a Shareholder which has fully subscribed shall have a period of 10 Business Days to elect to contribute to that portion of the Approved Work Programme and Budget then not subscribed for, proportionate to its Ownership Interest, unless the Shareholders who have fully subscribed agree otherwise.

  • Notwithstanding the foregoing and the terms of the Services Agreement, the Board shall retain the discretion to prepare a Work Programme and Budget as it, in its sole discretion, deems appropriate in circumstances where (i) the Board has not approved a proposed Work Programme and Budget prepared by the Manager for any reason, (ii) amendments or changes to an Approved Work Programme and Budget are required, or (iii) no Manager has been appointed.

  • This procedure shall be repeated as often as is necessary until the Approved Work Programme and Budget is fully subscribed or until no subscribing Shareholder remains who is willing to subscribe for the whole of the unsubscribed portion of the Approved Work Programme and Budget.

  • Subject to the Sole Funding provisions of this Agreement, the Board shall determine the extent to which and the sources from which funds shall be required to fund an Approved Work Programme and Budget.

Related to Approved Work Programme and Budget

  • Annual Work Plan and Budget means each annual work plan and budget (including related cash forecasts) for the implementation of the Project approved by the Association, referred to in Section I.D of Schedule 2 to this Agreement; and “Annual Work Plans and Budgets” means, collectively, all such plans and budgets.

  • Work Programme means the document adopted by the Commission for the implementation of the specific programme28 in accordance with its Article 12 or the equivalent document in content and structure adopted by a funding body.

  • Research Budget has the meaning set forth in Section 3.2.

  • Development Work means all work and services necessary or desirable in connection

  • Work Plan means a plan that describes each individual activity to be conducted to complete eligible activities and the associated costs of each individual activity.