Common use of Approval of Budgets Clause in Contracts

Approval of Budgets. Owner agrees that if objection to the proposed Annual Budget is not given within thirty (30) days after Owner’s receipt of the proposed Annual Budget, Agent may assume approval and operate within the proposed Annual Budget until notified otherwise by Owner in writing. To the extent reasonable, Agent shall eliminate or revise any item or amount in the Annual Budgets which is disapproved by Owner to the extent necessary to obtain Owner’s approval.

Approval of Budgets. Owner agrees that if objection to the proposed Annual Budget is not given within thirty (30) days after Owner’s 's receipt of the proposed Annual Budget, Agent Operator may assume approval and operate within the proposed Annual Budget until notified otherwise by Owner in writing. To the extent reasonable, Agent Operator shall eliminate or revise any item or amount in the Annual Budgets which is disapproved by Owner to the extent necessary to obtain Owner’s 's approval.