Annual Operating Budgets definition

Annual Operating Budgets means each operating plan and a budget, detailed by calendar month and consistent with the methodology set forth in the Base Case Projections, of anticipated revenues, debt service, the Average Annual Debt Service Coverage Ratio for the year ending on the anticipated date of Completion, and each year subsequent thereto throughout the Term, proposed shareholder or member distributions, maintenance, repair and operation expenses (including reasonable allowance for contingencies and working capital), maintenance reserves and all other anticipated O&M Costs for each Project, initially for the period from Completion to the conclusion of the first full fiscal year thereafter (and for each subsequent Annual Operating Budget, for each fiscal year subsequent thereto throughout the Term), and Borrower shall re-assess the scheduling and probable cost of each material item of maintenance of each Project and include a timetable and budget therefor in each of such Annual Operating Budgets.
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Annual Operating Budgets means the budget, including all Operating Expenses, and all known or anticipated leasing costs, for each Property (broken out by Property and shown in the aggregate) prepared by the Borrowers for the applicable Fiscal Year or other period, as the same may be amended, modified or supplemented from time to time in accordance with this Agreement.
Sample 1
Annual Operating Budgets means (a) an operating plan and budget for White Cliffs, substantially in the form of Exhibit I-1 attached hereto (the “Annual Operating Budget for White Cliffs”), for the applicable year with respect to the operation and maintenance of the Pipeline System, detailed by month, of anticipated revenues and expenses, such budget to include debt service, maintenance, repair and operation expenses under any O&M Agreement or other operating and maintenance contract (including reasonable allowance for contingencies), reimbursable management expenses and fees, payments for Taxes (other than those based upon the Borrower’s income), insurance, consumables, spare parts, equipment, materials, payments under any lease, payments under any parts services agreement, fees paid in connection with obtaining, transferring, maintaining or amending any Permits and reasonable general and administrative expenses, reserves and all other anticipated costs for the Pipeline System for such year and (b) an operating plan and budget for the Borrower, substantially in the form of Exhibit I-2 attached hereto (the “Annual Operating Budget for the Borrower”), for the applicable year with respect to the business of the Borrower, detailed by month, of anticipated revenues and expenses for such year.
Sample 1

Examples of Annual Operating Budgets in a sentence

  • Charter School shall adhere to the provisions of the Charter School Annual Operating Budgets.

  • Manager shall be authorized to access the accounts without the approval of TRSes, subject to any limitation on the maximum amount of any check, if any, established between Manager and TRSes as part of the Annual Operating Budgets.

  • Lessee and Manager acknowledge and agree that the Annual Operating Budgets are merely forecasts of operating revenues and expenses for an ensuing year and shall be revised, by agreement of Lessee and Manager, from time to time as business and operating conditions shall demand.

  • Annual Operating Budgets for 2015-16 (final amended) and 2016-17 school years and projected operating budgets for the subsequent three school years, by fund.

  • Summaries of the proposed Annual Operating Budgets for the subsequent fiscal year shall be prepared and submitted to the Board at its August meeting for review and approval.

  • Targeted objective(s)The last stage in the objective(s) feasibility phase is the determination of the targeted objective(s).

  • Annual Operating Budgets Use the columns on the left-hand side of the budget page to provide information on your organization’s overall operating budget for three consecutive fiscal years.

  • Funds for future years will be provided in the appropriate future Annual Operating Budgets.

  • Annual Operating Budgets for 2016-17 (final amended) and 2017-18 school years and projected operating budgets for the subsequent three school years, by fund.

  • As development increases in the City and the cost of materials increase, this amount will be adjusted accordingly to meet these requirements within the Annual Operating Budgets.


More Definitions of Annual Operating Budgets

Annual Operating Budgets means the annual operating budgets for (a) Guarantor and its Subsidiaries in substantially the form of, and containing substantially the same or similar information as set forth in, the Annual Operating Budget (Business Plan) for Guarantor and its Subsidiaries included in the lender presentation delivered to prospective Syndication Parties at the May 30, 2013 bank group meeting and (b) Borrower and its Subsidiaries in substantially the form of, and containing substantially the same or similar information as set forth in, the Annual Operating Budget (Business Plan) for Borrower and its Subsidiaries included in the lender presentation delivered to prospective Syndication Parties at the July 15, 2013 bank group meeting.
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Related to Annual Operating Budgets

  • Annual Operating Budget has the meaning set forth in Section 4.11.

  • Annual Operating Plan has the meaning ascribed to it in Section 15.3(b)(i).

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

  • 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.

  • 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.

  • Annual Operating Expenses for the Class means and will consist only of the following operating expenses of the Series for the Class that are, under generally accepted accounting principles, accruable and deductible from the Series’ assets with respect to the Class for the period involved: (i) investment advisory fees, if any; (ii) Rule 12b-1 distribution fees, if any; and (iii) custodian fees, shareholder servicing fees, administrative and office facilities expenses, professional fees, trustees’ fees and any other operating expenses of the Series with respect to the Class that are recorded or includable in the Series’ statement of operations in accordance with generally accepted accounting principles. Notwithstanding the provisions of the immediately preceding sentence, the Series’ “Annual Operating Expenses” for the Class do not include “acquired fund expenses”, interest and dividends on securities sold short, amortization of organization expenses, taxes, brokerage commissions, litigation and indemnification expenses or any costs or expenses of or for the Series with respect to the Class that are “extraordinary” as determined under generally accepted accounting principles (see Accounting Principles Board Opinion No. 30). Very truly yours, ROYCE & ASSOCIATES, LP By: /s/ Xxxxx X. Xxxxxxx Xxxxx X. Xxxxxxx Chief Financial Officer ACCEPTED: THE ROYCE FUND By: /s/ Xxxxx X. Xxxxxxx Xxxxx X. Xxxxxxx Treasurer ROYCE & ASSOCIATES, LP 000 XXXXX XXXXXX XXX XXXX, XX 00000 January 1, 2019 The Royce Fund 000 Xxxxx Xxxxxx Xxx Xxxx, XX 00000 Re: Fee Waiver and Expense Reimbursement – Royce Small/Mid-Cap Premier Fund (formerly Royce Heritage Fund) (Consultant Class) Gentlemen: Reference is made to the Amended and Restated Investment Advisory Agreement dated July 1, 2017 (the “Agreement”) by and between The Royce Fund (the “Fund”), on behalf of Royce Heritage Fund (now Royce Small/Mid-Cap Premier Fund) (the “Series”), and Royce & Associates, LP (the “Adviser”). Notwithstanding the provisions of Section 4 (Compensation of the Adviser) of the Agreement, the Adviser hereby waives compensation for services provided by it under the Agreement for the period beginning January 1, 2019 and ending December 31, 2019 (the “Period”), and/or agrees to reimburse expenses relating to the Period to the Series with respect to the Class in an amount, if any, necessary so that the Series’ “Annual Operating Expenses” for its Consultant Class of shares (the “Class”) are not more than 2.09% of the Class’ average net assets for the Period. The Adviser’s obligations to reimburse the Series with respect to the Class hereunder will not apply for any period when the Adviser is not rendering services to such Series under the Agreement.

  • Operating Plan means a plan adopted or amended under this section for the development, redevelopment, maintenance, operation and promotion of a business improvement district, including all of the following:

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

  • Capital Expenditure Budget shall constitute an estimate for the applicable period of the capital expenditures required to (i) accomplish capital enhancement projects included in the most recently approved Strategic Plan, (ii) maintain and preserve the Partnership's assets in good operating condition and repair and (iii) achieve or maintain compliance with any HSE Law.

  • CapEx Budget means the annual budget covering the planned Capital Expenditures for the period covered by such budget. The CapEx Budget shall not include Discretionary Capital Expenditures.

  • Annual Plan means the annual plan of the Trust which is prepared in accordance with clause 8.1;

  • Annual Work Plan and Budget means the work plan and budget approved by the Bank and adopted by the Borrower in accordance with the provisions of Section I.C of Schedule 2 of this Agreement, as said work plan and budget may be modified from time to time with the written agreement of the Bank.

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

  • Approved Budget means an annual budget-

  • Initial Budget has the meaning set forth in Section 7.06(a).

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

  • Budgets has the meaning set forth in Section 2.12(b).

  • 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.

  • Annual Business Plan means the development plan and budget report for Party B’s Business in the next calendar year which is prepared by Party B with the assistance of Party A pursuant to this Agreement before November 30 of each year.

  • Annual Projections is defined in Section 6.2(a).

  • Project Year means the 12 month period beginning from the Effective Date and ending 12 months thereafter and each successive 12 month period following thereafter;

  • 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.

  • Annual Work Plan means any of the Annual Work Plans.

  • Development Budget shall have the meaning set forth in Section 3.3.

  • Planned Expenditures shall have the meaning provided in the definition of the term Excess Cash Flow.