Common use of Operating and Capital Budgets Clause in Contracts

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. 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 creating, 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.