Project Budget definition
Examples of Project Budget in a sentence
If any Project is approved by the Partners, then until construction of such Project is completed, at least sixty (60) days before the end of each calendar year (commencing in the year of construction of such Project), the General Partner will prepare and deliver to the Partners for approval a proposed project budget for the immediately following calendar year (each such proposed project budget an “Annual Revised Project Budget” and collectively with the Initial Project Budget, the “Project Budget”).
Notwithstanding the foregoing, instead of ten (10) business days, the timeframe for objections to each proposed Annual Revised Project Budget, Annual Revised Business Plan, Annual Revised Operating Budget, or Material Plan or Budget Change is thirty (30) days as provided in Section 7.16(d)(ii).
Subject to the approval right of the Partners set forth in this Section 7.16(d), each proposed Business Plan, Operating Budget, and Project Budget and any proposed changes to the Business Plan, Operating Budget, and Project Budget will be determined by the General Partner and subject to the approval of the Limited Partners in accordance with Section 7.4.
Within thirty (30) days after its receipt of each proposed Annual Revised Business Plan, Annual Revised Operating Budget, Annual Revised Project Budget, or Material Plan or Budget Change, as applicable, the Partners will have the right to either approve or disapprove such proposed Annual Revised Business Plan, Annual Revised Operating Budget, Annual Revised Project Budget, or Material Plan or Budget Change.
If requested by any Partner, the Partners will confer in good faith with the General Partner to reach agreement on the proposed Annual Revised Business Plan, Annual Revised Operating Budget, Annual Revised Project Budget, or Material Plan or Budget Change.