Baseline Budget definition

Baseline Budget has the meaning given this term in Section 5.3(a).

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Baseline Budget means a budget which is adjusted to macroeconomic assumptions and where expenditures and revenues are projected assuming no legal or policy change in the year when the budget is executed.

Baseline Budget has the meaning set forth in Schedule 8.11(a).

Examples of Baseline Budget in a sentence

• One way to track project cost is to show: (1) Baseline Budget, (2) Latest Approved Budget, (3) Current Forecasted Cost Estimate, (4) Expenditures or Commitments to Date, and (5) Variance between Current Forecasted Cost and Latest Approved Budget.

• The Baseline Budget, as adjusted as set forth above at the conclusion of each Contract Year, and as otherwise adjusted pursuant to this Section 4, will be applied accordingly in determining the Gainshare for such year.

• Total Occupancy Cost savings shall be calculated by determining the positive difference in absolute dollars between (x) the Baseline Costs for Total Occupancy Costs as reflected in the Baseline Budget or the Adjusted Baseline Budget (as applicable) and (y) the Actual Gainshare Costs based on the actual total Costs incurred by C&S and charged to Tops in connection with the occupancy costs related to the Mainline Operations for the applicable Contract Year for which the Gainshare is being determined.

• The Board of Harbor Commissioners has approved the Project's Baseline Budget and Baseline Schedule to which Port managers are accountable.

• The Baseline Budget will express costs as follows (for purposes hereof, the “Baseline Costs”): (I) for the Total Mainline Operating Costs portion of the Baseline Budget, budgeted Costs are expressed as a cost per case; (II) for the Total Occupancy Costs portion of the Baseline Budget, budgeted Costs are expressed as absolute dollars; and (III) for the Total GM/HBC Operating Costs portion of Baseline Budget, budgeted Costs are expressed as a percentage of sales.

• Any such reclassification will also be made to the Baseline Budget for consistency, however, such reclassification will not impact the total budgeted amount of costs reflected in the Baseline Budget or the calculation of any Gainshare.

• The Parties will make any prorations (for example, to the Baseline Budget and the Services Fees) necessary to account for any 53-week Contract Year.

• The Baseline Budget is subject to adjustment and modification only as specifically set forth in this Agreement.

• Such Exhibits are attached to this Agreement strictly for the purpose of reflecting the basis for the components of the Baseline Budget (which Baseline Budget, attached as Exhibit 4.7(a) hereto, is hereby agreed to by the Parties and, subject to adjustment of the Baseline Budget as set forth herein, is binding on the Parties, including without limitation, in connection with the calculation of the Gainshare in accordance with Section 4.7) and for illustrating an example of a future Approved Budget.

• To the extent the Parties mutually agree, any of the foregoing requested additional services (the “Additional Services”) may form part of the Services hereunder for the purposes of this Agreement, and the Parties will make such modifications to this Agreement, and to each of the Baseline Budget and Approved Budget (or Flex Budget, as applicable), as appropriate and necessary to reflect the agreed upon Additional Services and budgeted Costs related thereto.

More Definitions of Baseline Budget

Baseline Budget is defined as the sum of the Interim Budgets for the: a) Total Warehousing Costs (excluding HBC/GM and occupancy); b) Total Occupancy Costs (excluding HBC/GM)

Baseline Budget means the budget for calendar years 2006, 2007 and 2008 as set forth in Exhibit C attached hereto, which sets forth the gross revenue and pre-tax profit targets for each of these calendar years, as amended and updated from time to time in accordance with Section 6.10(e). The Baseline Budget will provide for continued manufacture of at least 125,000 caps per year by the Company for Purchaser on a cost basis with the same level of quality and timing of delivery as is currently being provided to Purchaser by the Company (the “Baseline Cap Production Requirement”); provided, however, if Purchaser funds the capital expenditures necessary to double the Company’s cap production capacity (which are not expected to exceed $100,000 plus incremental labor costs), the Baseline Cap Production Requirements shall be increased to 250,000 caps per year. In addition, the Baseline Budget for each of calendar years 2006, 2007 and 2008 shall, at the direction of Purchaser in its sole discretion, require and reflect the Company’s reinvestment of up to 7% or $250,000 of its revenue, whichever is greater (the “Reinvestment Requirement”), towards research and development activities, which amounts shall be fully reflected as expenses for purposes of determining the pre-tax profit targets for each of these calendar years. The Reinvestment Requirement will also include, at the direction of Purchaser in its sole discretion, up to certain levels of investment in product marketing to be identified in the Baseline Budget.

Baseline Budget means (i) the current Budget if such Budget was mutually approved by Owner and Manager, (ii) at Manager’s option, either the current Budget unilaterally imposed by Owner or the most recent Budget that was mutually approved by Owner and Manager, adjusted, as necessary, for (y) any actual changes in Uncontrollable Expenses, and (z) for increases in rental revenue and Controllable Expenses, based on changes in the Consumer Price Index All Urban Consumers for the area in which the Property is located, if the current Budget was unilaterally established by Owner, or (iii) to the extent that any six (6) month measurement period hereunder occurs during a period where an updated Budget is due, and a new Budget has not yet been approved or established in accordance with Section 2.3(a) hereof, the existing Baseline Budget, adjusted, as necessary, for the circumstances described in clauses (y) and (z) above.

Baseline Budget means [***].