First Year Budget definition

First Year Budget means the budget of the Condominium in effect as of the date of the registration of the Condominium;

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First Year Budget. ADDENDUM 8 Administrativeand Support services ADDENDUM 9

First Year Budget. NOVEMBER 1997 - NOVEMBER 1998 ------------------------------------------------ SALARIES SALARY TOTAL -------- Chemist $43,000 $54,825 OVERHEADS/CONSUMABLES --------------------- JCSMR overheads (26% on ANU staff) $14,255 ERM $15,000 APL fee (15%) $12,612 GRAND TOTAL $96,691 SECOND YEAR BUDGET: NOVEMBER 1998 - NOVEMBER 1999 ------------------------------------------------- SALARIES SALARY TOTAL -------- Lab Technician $35,000 $44,625 Animal Technician $36,000 $45,900 Researcher $42,000 $53,550 Chemist $43,000 $54,825 TOTAL SALARIES $338,900 CONSULTANCY ----------- Clinical Trial Coordinator $50,000 Research Leader Consultancy $90,000 TOTAL CONSULTANCY $140,000 OVERHEADS/CONSUMABLES --------------------- JCSMR overheads (26% on ANU staff) $51,714 ERM (@$15K/person) $90,000 Equipment $50,000 Animals $20,000 Sundry (1) $5,000 APL Fee (15%) $83,342 TOTAL OVERHEADS $300,056 GRAND TOTAL $638,956

Examples of First Year Budget in a sentence

• The Management Fee for the period beginning on the date hereof and ending on December 31, 2019 shall be $200,000 (Two Hundred Thousand Dollars), as set forth in the attached First Year Budget, which shall be paid no less than quarterly, as reasonably agreed by the Parties.

• The anticipated Shared Costs are set forth in the First Year Budget (FY18) to which the Parties have agreed and which is attached as Schedule 1(a).

• The LOC shall be available to support any shortfall in the operating revenues for Collaborative Undertakings as set forth in the First Year Budget, and in subsequent annual budgets as the Parties mutually agree.

• The First Year Budget, a copy of which is attached hereto and made a part hereof as Exhibit B, is hereby adopted by the Unit Owners Assembly on behalf of the Condominium.

• Absent a bona fide dispute with respect to whether such previously released Operating Escrowed Funds have been used in accordance with the First Year Budget, the Purchaser shall execute and deliver joint instructions to the Escrow Agent to release the remaining Operating Escrowed Funds on or prior to the release date specified in the Escrow Agreement.

• An initial allocation of shared resources is set forth in the First Year Budget appended to Schedule 1(a).

• The First Year Budget shall form the basis for which all expenditures for the operation of the Residential Project shall be made during the first (1st) Fiscal Year of the Residential Project, provided, however, that Manager shall be allowed, as reasonably necessary, to deviate from such Budget provided that such deviations do not cause an adverse variance in excess of those allowed in Section 4.1.1(a).

More Definitions of First Year Budget

First Year Budget is defined in Section 4.1.1(c).