Budget Line Items. (a) Borrower agrees that Loan Advances shall be used only for the line items in the Budget (“Budget Line Items”) for which such Loan Advances were made and shall not exceed the Monthly Operating Expense Budgeted Amount for the month in which such Loan Advance is made, subject to permitted variances. (b) Borrower shall have the right to reallocate cost savings to other Budget Line Items.
Appears in 2 contracts
Sources: Loan and Security Agreement (Transatlantic Petroleum Ltd.), Loan and Security Agreement (Transatlantic Petroleum Ltd.)