Binding Budget definition

Binding Budget is defined in Section 3.3.1. THE SYMBOL “[***]” DENOTES PLACES WHERE CERTAIN IDENTIFIED INFORMATION HAS BEEN EXCLUDED FROM THE EXHIBIT BECAUSE IT IS BOTH (i) NOT MATERIAL, AND (ii) WOULD LIKELY CAUSE COMPETITIVE HARM TO THE COMPANY IF PUBLICLY DISCLOSED Exhibit 4.57
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Binding Budget means a Development Budget that is intended to be binding upon the Parties.
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Examples of Binding Budget in a sentence

  • The initial Binding Budget is set out in Schedule C to this Agreement.

  • Upon such escalation, the Joint Steering Committee shall promptly (and in any event, no later than [***] after such escalation) discuss and decide whether the Binding Budget shall be amended.

  • In addition, the Joint Project Team may discuss any amendment to the Binding Budget pursuant to Section 6.2(d) and propose such amendment to the Joint Steering Committee for approval under Section 6.3.2(c).

  • Notwithstanding the foregoing, from time to time, the Joint Project Team may approve any amendment to the Binding Budget with respect to the then-current Calendar Year under Section 6.2(e) without having to propose such amendment to the Joint Steering Committee, if the proposed amended Binding Budget will not deviate by [***] or more from the Binding Budget for such Calendar Year as of the first day of such Calendar Year.

  • Each Party acknowledges and agrees that [***] the Binding Budget).

  • In the event a Party’s Development Costs in the aggregate exceed the amount budgeted in any Binding Budget by more than [***] percent ([***] %), the ODC shall determine if such excess amount is reasonable under the circumstances.

  • The [***] of such approved Development Budget will be a good faith forecast and not a Binding Budget.

  • If the ODC cannot agree on a Binding Budget for the succeeding calendar year (and the OSC cannot resolve any such disagreement), the Parties agree to fund only [***] until such time as the Parties have resolved any such disagreement pursuant to Article 15.

  • The [***] of each approved [***] Development Budget shall be a Binding Budget, unless otherwise mutually agreed upon by the Parties in the Development Plan.

  • Each Party agrees to use its Commercially Reasonable Efforts to complete the activities contemplated by a Binding Budget and to do so within the amounts budgeted.

Related to Binding Budget

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

  • CapEx Budget means the annual budget covering the planned Capital Expenditures for the period covered by such budget. The CapEx Budget shall not include Discretionary Capital Expenditures.

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

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