Common use of Approval of Budgets Clause in Contracts

Approval of Budgets. Manager shall, at least thirty (30) days prior to the scheduled Commencement Date, submit to the Board, 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 thirty (30) days prior to the commencement of each full or partial fiscal year, submit to the Board, for its approval, proposed Budgets for the ensuing full or partial fiscal year, as the case may be. Manager shall meet with the Board to discuss the proposed Budgets and the Board’s approval of the Budgets shall not be unreasonably withheld.

Approval of Budgets. Manager shall, at least thirty sixty (3060) days prior to the scheduled Commencement Date, submit to the BoardAuthority, 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 thirty sixty (3060) days prior to the commencement of each full or partial fiscal year, submit to the BoardAuthority, for its approval, proposed Budgets for the ensuing full or partial fiscal year, as the case may be. Manager shall meet with the Board Authority to discuss the proposed Budgets and the BoardAuthority’s approval of the Budgets shall not be unreasonably withheld.