Material Budget Deviation definition

Material Budget Deviation shall have the meaning set forth in Section 5.3(c) hereof.
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Material Budget Deviation. A Material Budget Deviation shall mean an incurred deviation of [*] percent ([*]%) or more above any R&D Plan and Budget.
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Material Budget Deviation means, on a cumulative basis for the four-week period ending May 30, 2020 and on a rolling four-week basis as of the last day of each week thereafter, “Net Cash Flow” as set forth in the Budget for such period is (a) if such amount is a positive number, less than 85% of the projected surplus cash flow or (b) if such amount is a negative number, more than 115% of the projected deficit cash flow.
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Examples of Material Budget Deviation in a sentence

  • If the Trustee has any reason to believe that a Material Budget Deviation has occurred or will occur, the Trustee shall promptly notify the TIP Agent and the Prepetition Agent.

  • Compliance with the Budget (i.e., a determination of whether a Material Budget Deviation has occurred) shall be tested (x) for the first two weeks on a cumulative basis, (y) for the first three weeks on a cumulative basis, and (z) on a rolling four-week cumulative basis thereafter.

  • Except for cumulative calculations in any measurement period expressly provided for in the definition of Material Budget Deviation set forth in Appendix A, no unused portion of any line item in the Budget may be carried forward or carried backward to any prior or subsequent period in the Budget more than 2 weeks.

  • The Trustee confirms, acknowledges and agrees that, unless waived in writing by the TIP Agent and the Prepetition Agent,(x) the occurrence of a Material Budget Deviation shall constitute a material deviation from the Approved Budget and an Event of Default, and (y) the failure to timely deliver any Budget Compliance Report shall constitute an Event of Default.

  • Use the ABC common process (common process) for all briefs and correspondence.2. Implement the roles defined in the ABC common process and nominate for each brief or correspondence item, at a minimum, an or a:• Accountable Officer (AO)- The AO is ultimately accountable for the brief or correspondence including ensuring it reaches the Recommender in a form and timeframe suitable for recommendation.

  • Although each R&D Plan and Budget will continue in effect until the next Go/No Go Decision Point is reached in the absence of a Material Budget Deviation, a consolidated R&D Plan and Budget for all Collaboration research and development activities will be established annually in a timeframe that coincides with the Parties’ respective internal annual planning and budget processes.

  • Compliance with the Approved Budget (i.e., a determination of whether a Material Budget Deviation has occurred) shall be tested (a) for the first two weeks on a cumulative basis, (b) for the first three weeks on a cumulative basis, and (c) on a rolling four-week cumulative basis thereafter.


More Definitions of Material Budget Deviation

Material Budget Deviation. With respect to any Test Period, if (A) the actual aggregate cash disbursements of Borrower during such Test Period exceed one hundred twenty (120%) percent of the projected aggregate cash disbursements during such Test Period as reflected in the Budget, (B) the actual aggregate cash receipts of Borrower during such Test Period are less than seventy-five (75%) percent of the projected aggregate cash receipts during such Test Period as reflected in the Budget or (C) the actual aggregate value (calculated at the lower of Cost or market) of Inventory of Borrower received by Borrower during such Test Period is less than ninety (90%) percent of the projected value (calculated at the lower of Cost or market) of such Inventory during such Test Period as reflected in the Budget.
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Material Budget Deviation means, any of the following, as of any date of determination:
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Material Budget Deviation shall have the meaning set forth in Section 9.18(c) hereof.
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Material Budget Deviation means a deviation in actual cash disbursements with respect any category identified in the Budget as "payroll", "building expenses", "compliance, audit and related fees", "technology-related" or "asset security and disposition", in each case exceeding one hundred fifteen percent (115%) of the amount projected in the Budget during any applicable test period.
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Material Budget Deviation means a deviation in actual cash disbursements with respect any category identified in the Budget as "Independent Contractors," "Building Expenses", "Compliance, audit and related fees", "Technology related", "A&G Realty Partners, LLC (real estate marketing)," "Tiger Capital Group, LLC," or "Storage: GRM/DRACO," in each case exceeding one hundred fifteen percent (115%) of the amount projected in the Budget during any applicable test period.
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Related to Material Budget Deviation

  • Material Deviation refers to any contents or characteristics of the proposal that is significantly different from an essential aspect or requirement of the RFP, and : (i) substantially alters the scope and quality of the requirements; (ii) limits the rights of UNDP and/or the obligations of the offeror; and (iii) adversely impacts the fairness and principles of the procurement process, such as those that compromise the competitive position of other offerors.

  • 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.

  • 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.

  • Material Modification means any modification to an Interconnection Request that has a material adverse effect on the cost or timing of Interconnection Studies related to, or any Network Upgrades or Local Upgrades needed to accommodate, any Interconnection Request with a later Queue Position.

  • Material Project means the construction or expansion of any capital project of the Borrower or any of its Subsidiaries, the aggregate capital cost of which exceeds $50,000,000.

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

  • Detailed Specifications means the specifications for materials and works as specified in PWD BSR/ issued under the authority of PWD/ or as implied/added to or superseded by the special conditions.

  • Deviation is a departure from the requirements specified in the tendering document;

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

  • Substantial compliance means a level of compliance with these rules where any deficiencies pose no greater risk to resident health or safety than the potential for causing minor harm.

  • Material Compliance Matter has the same meaning as the term defined in Rule 38a-1, and includes any compliance matter that involves: (1) a violation of the federal securities laws by Distributor (or its officers, directors, employees, or agents); (2) a violation of Distributor's Rule 38a-1 policies and procedures; or (3) a weakness in the design or implementation of Distributor's Rule 38a-1 policies and procedures.

  • Material Project Documents means the Borrower LLC Agreement, the Holdings LLC Agreement, the Construction Contract, the Power Purchase Agreement, the Interconnection Agreement, the O&M Agreement, the Lease, the Water Contract and to the extent material to the Project, any other individual Real Property Document, and each Additional Project Document that is reasonably deemed material to the Project by Lender (in consultation with the Independent Engineer).

  • Material safety data sheet or "MSDS" means the chemical, physical, technical, and safety information document supplied by the manufacturer of the coating, solvent, or other chemical product, usually through the distribution network or retailers.

  • Standard Specifications means a compilation in book form of specifica- tions approved for general application and repetitive use;

  • Project Plan means the document to be developed by the Contractor and approved by Webel Technology Ltd., based on the requirements of the Contract and the Preliminary Project Plan included in the Contractor’s bid. For the sake of clarity, the Agreed and Finalized Project Plan” refers to the version of the Project Plan submitted by the contractor after receiving the letter of Award and the same approved by Webel Technology Ltd. The project plan may be changed/ modified during the course of the project. Should the Project Plan conflict with the provisions of the Contract in any way, the relevant provisions of the Contract, including any amendments, shall prevail.

  • Material Modifications means any modifications to the material related party transactions which were approved by the Audit Committee or Shareholders during the year which will change the complete nature of the transaction and in case of monetary thresholds which is in excess of 10% of the originally approved transaction, in case of exigencies only.

  • 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.

  • Construction Schedule means a construction schedule indicating the planned start and completion dates of the major activities of the Work as set out in Appendix [ ], a future Appendix;

  • Project Operational Manual means the manual to be adopted pursuant to Section 6.01 (b) of this Agreement and referred to in paragraph 1 of Schedule 4 to this Agreement, outlining policies, procurement and implementation procedures and monitoring guidelines for the Project;

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

  • Substantial modification means modification of a relevant source that results in a significant increase in emissions, excluding any change in emissions resulting from by-product recovery. It shall be a matter for the Party to decide whether a modification is substantial or not;

  • Adverse System Impact means a negative effect that compromises the safety or reliability of the electric distribution system or materially affects the quality of electric service provided by the electric distribution company (EDC) to other customers.

  • Project Budget means the budget and project description included in the grant application. The Project Budget must succinctly describe all major elements of project work, the estimated cost of each, and clearly allocate requested grant funding and match contributions to each.

  • CREFC® Operating Statement Analysis Report The monthly report in the “Operating Statement Analysis Report” format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

  • Goods Specification any specification for the Goods including any relevant plans or drawings, that is agreed in writing by the Reseller and Voip-Unlimited.

  • CMSA Operating Statement Analysis Report means a report substantially in the form of, and containing the information called for in, the downloadable form of the "Operating Statement Analysis Report" available as of the Closing Date on the CMSA Website or in such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage-backed securities transactions generally.