Operating and Capital Budgets. 14 7.5.1 Finance Committee............................... 14 7.5.2
Operating and Capital Budgets. To the extent that MPL is required to review or approve, on behalf of MLH, any operating or capital expenditure budgets with respect to the MLH Pipelines, MPL must first obtain MLH’s prior consent before reviewing or approving such budgets. MPL will provide to MLH all expense budgets, capital budgets and forecasted statements of income and cash flow prepared by the co-owners and/or operators of the MLH Pipelines.
Operating and Capital Budgets. The Borrower will deliver to the Agent an annual operating and capital budget on the later of the date the annual compliance certificate referred to in Section 14.1(g) is delivered to the Agent and within 5 Banking Days of the date of internal approval thereof by the management and directors of the Borrower.
Operating and Capital Budgets. Immediately upon the execution hereof the Annual Operating Budget and Annual Plan (each as defined in the Management Agreement) previously submitted by HLVMC to the Company on September 30, 1996, shall be deemed approved NUNC PRO TUNC as of November 1, 1996.
Operating and Capital Budgets. (a) The Borrower (on a consolidating basis) shall, on or before the Closing Date, adopt an Operating and Capital Budget for the Project for the period from such date to the conclusion of the then current fiscal year (and for each month during such period), and, no less than fifteen (15) days in advance of the beginning of each fiscal year of the Borrower thereafter, the Borrower shall adopt an Operating and Capital Budget for the Project for the succeeding fiscal year (and for each month during such period). Copies of such proposed Operating and Capital Budget, together with a comparison of the costs in the proposed Operating and Capital Budget with the costs set forth in the Operating and Capital Budget for the Project for the current fiscal year and an explanation of the reasons for any significant increase or decrease in any category shall be furnished to the Administrative Agent at least sixty (60) days before the beginning of the fiscal year to which such proposed Operating and Capital Budget applies. Prior to adoption thereof, each proposed Operating and Capital Budget for the Project shall be subject to the prior approval of the Administrative Agent, following consultation with the Independent Engineer, which approval shall not be unreasonably withheld or delayed. Copies of the final Operating and Capital Budget so adopted for the Project shall be furnished to the Administrative Agent promptly upon their adoption. In the event that any proposed Operating and Capital Budget for the Project is not approved by the Administrative Agent, the Operating and Capital Budget for the Project from the previous fiscal year increased by the CPI for the then-current fiscal year shall apply for the then-current fiscal year until an Operating and Capital Budget for the Project is approved. The SECOND AMENDED AND RESTATED GREENHUNTER CREDIT AGREEMENT 103 Administrative Agent shall have the right to approve all or a portion of any proposed Operating and Capital Budget for the Project. To the extent the Administrative Agent does not approve a portion of a proposed Operating and Capital Budget for the Project, such portion of the Budget from the previous fiscal year increased by the CPI for the then-current fiscal year shall apply for the then-current fiscal year until such portion of the proposed Operating and Capital Budget for the Project is approved.
Operating and Capital Budgets. Not less than seventy-five (75) days prior to the commencement of each fiscal year, the General Partner shall transmit to the Lender and to BCTC 94, proposed operating and capital budgets for the Apartment Complex and the Partnership for the next fiscal year. Such budgets shall specifically list all budgeted expenses in all major categories including, but not limited to, administration, operation, repairs and maintenance, utilities, taxes, insurance, interest, Mortgage Loan debt service, capital improvements, and all budgeted expenses which are to be paid to the General Partner or its Affiliates. Any such proposed operating budget also shall include the Asset Management Fee and all other Partnership obligations or expenditures which: (a) are reasonable and necessary for the proper operation of the Partnership, (b) are currently and unconditionally due and payable, and (c) are not payable from Net Cash Flow; thus, no provision for payment(s) with respect to the Incentive Partnership Management Fee or debt service on the Second Loan is to be included in any such proposed operating budget. Any such proposed operating budget shall be subject to review and approval by the Lender, prior to its effectiveness, if: (i) the Partnership is requesting the Lender's approval of an increase in the rents of units within the Apartment Complex; or (ii) an Operating Deficit existed with respect to the previous fiscal year of the Partnership. ARTICLE IX
Operating and Capital Budgets. 14 4.10.1..................................................................14 4.10.2..................................................................14 4.10.3..................................................................15 4.11 CONTRACTING..........................................................15 4.12 LITIGATION...........................................................15 4.13 INTERNAL CONTROL SYSTEMS.............................................15
Operating and Capital Budgets. 4.10.1 Manager shall, at least sixty (60) days prior to the scheduled Commencement Date, submit to the Tribe, for its approval, a proposed Operating Budget and Capital Expense Budget for the remainder of the current fiscal year. Thereafter, Manager shall, not less than sixty (60) days prior to the commencement of each full or partial fiscal year, submit to the Tribe, for its approval, proposed Budgets for the ensuing full or partial fiscal year, as the case may be. Manager shall meet with the Tribe to discuss the proposed Budgets and the Tribe's approval of the Budgets shall not be unreasonably withheld.
Operating and Capital Budgets. Not less than seventy-five (75) days prior to the commencement of each fiscal year, the General Partner shall transmit to the Lender and to BCTC 94, proposed operating and capital budgets for the Apartment Complex and the Partnership for the next fiscal year. Such budgets shall specifically list all budgeted expenses in all major categories including, but not limited to, administration, operation, repair and maintenance, utilities, taxes, insurance, interest, Mortgage Loan and Second Mortgage Loan debt service, capital improvements, and all budgeted expenses which are to be paid to the General Partner or its Affiliates. Any such proposed operating budget also shall include the Asset Management Fee and all other Partnership obligations or expenditures which: (a) are reasonable and necessary for the proper operation of the Partnership, (b) are currently and unconditionally due and payable., and (c) are not payable from Net Cash Flow; thus, no provision for payment(s) with respect to the Incentive Partnership Management Fee, debt service on the Third Loan and/or debt service on the Fourth Mortgage Loan is to be included in any such proposed operating budget. Any such proposed operating budget shall be subject to review and approval by the Lender, prior to its effectiveness, if: (i) the Partnership is requesting the Lender's approval of an increase in the rents of units within the Apartment Complex; or (ii) an operating Deficit existed with respect to the previous fiscal year of the Partnership. The parties acknowledge and agree that the annual operating budgets to be prepared And submitted to and approved by MHFA, shall not include the Asset Management Fee, the Incentive Partnership Management Fee, debt service on the Third Loan and/or debt service on the Fourth Mortgage Loan, and no rent increases as to apartment units in the Apartment Complex shall be attributable to the aforesaid excluded items.
Operating and Capital Budgets. Upon Closing, the Company will be managed by Seller 2 as senior executive and head of the Geneva research and development (R&D) operations. The Parent agrees that the approved operating and capital budget of the Company for 2001 will be a minimum of US$ 5 million to cover the transition period and subject to the viability of performance, and to final agreement of the Executive Business Council and the Vice President ILEX Research Europe, a minimum of US$ 4.5 million for 2002 and 2003; The Company will have the primary responsibility for managing the present projects (i.e., scientific collaborators, scientific advisors, etc.) and, in collaboration with ILEX Business Development representatives, to pursue reasonable business development efforts and partner non-oncology therapeutic areas such that the benefits of the programs are fully realized.
