Revised Budget Clause Examples
The Revised Budget clause establishes the process for updating or modifying the original budget agreed upon by the parties. Typically, this clause outlines the circumstances under which a budget revision may be requested, such as unforeseen expenses or changes in project scope, and details the approval process for such changes. Its core practical function is to provide a structured mechanism for adapting financial plans to evolving project needs, thereby ensuring transparency and mutual agreement on any budgetary adjustments.
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Revised Budget. This Amendment No. 1 shall be effective as of the date last signed below.
Revised Budget. Each of the Purchasers shall have received a -------------- revised budget of the Company for each fiscal quarter of 1999 in form and substance reasonably satisfactory to such Purchasers.
Revised Budget. In addition to the additional amounts Manager may expend pursuant to Section 6.2(d) above, Lessee and Manager acknowledge and agree that there may occur from time to time unpredicted significant changes, variables or events affecting the operation of a Hotel, including unanticipated changes in occupancy rates, market conditions, or additional unanticipated items of income or expense. In such event, Manager may request variance(s) from an Approved Budget, which are reasonable and necessary to continue to operate such Hotel in accordance with the Operational Standards. Lessee’s approval of such a request shall not be unreasonably withheld. Any such request by Manager shall be submitted to Lessee in writing with an explanation thereof and shall be accompanied by supporting information for the request. Lessee shall respond to any such request within 30 days of the receipt thereof. Notwithstanding the foregoing, in the event Lessee fails to respond within 30 days after submittal by Manager, then the request shall be deemed not approved.
Revised Budget. Each GAP Purchaser shall have received a -------------- revised budget of the Company for fiscal year 1999 in form and substance reasonably satisfactory to such Purchasers.
Revised Budget. The Company will, at its sole cost and expense, furnish to TDF with each Request for Disbursement, a revised Budget, which shall indicate revisions made to the Budget, if any, from the copies thereof previously submitted to TDF. Such revised Budget shall be subject to the approval of TDF, which shall not be unreasonably denied if TDF is provided with evidence satisfactory to it as to the proposed source and availability of any additional funds required for any increase in the proposed Budget.
Revised Budget. As set forth in Exhibit B (Payment Terms and Provisions and Budget), the approved Budget may be modified at the request of the Grantee if such request is approved in writing by the Grantor. Approval by the Grantor of any modification to the Budget shall not constitute or imply a revision of the Agreement Maximum Amount. Cash requests will be withheld until the revision is received and approved.
Revised Budget. The Company will, at its sole cost and expense, furnish to the Bank within 180 days after the date hereof and at least once in every calendar quarter thereafter until the Date of Substantial Completion, a revised construction budget which shall be in the form of the Budget an which shall indicate revisions made to date to the Budget, which revised budget shall be satisfactory to the Bank in the Bank's sole and absolute discretion.
Revised Budget. This Amendment shall be effective as of September 1, 2021.
Revised Budget. The budget of the Company shall be reviewed quarterly and may be revised by the Company with the unanimous approval of the Board. Such revised budget shall be deemed as the then-current Business Plan.
Revised Budget. The Budget section of Task 4, Implement Evaluation Activities, of the Statement of Work shall be amended as follows: The following Table shall be deleted in its entirety: Calendar Year Evaluation Period Total Budget per Calendar Year 2018 - - - - - 2019 $ 112,000.00 $ 66,000.00 $ 12,000 $ - $ 190,000 2020 $ - $ 225,000 $ 30,000 $ 5,000 $ 260,000 and (ii) replaced with the following Table: Calendar Year Evaluation Period Total Budget per Calendar Year 2018 - - - - - 2019 $ 112,000.00 $ 163,000.00 $ - $ - $ 275,000 2020 $ - $ 165,518.00 $ 103,000 $ 6,000 $ 277,518 2021 $ - $ - $ 110,000 $ 123,000 $ 233,000 2022 $ - $ - $ - $ 100,000 $ 100,000