Common use of Budget Overruns; Program Changes Clause in Contracts

Budget Overruns; Program Changes. The Manager shall immediately notify the Management Committee of any material departure from an adopted Program and Budget. If the Manager exceeds the total of an adopted Budget by more than ten percent (10%), then the excess over ten percent (10%), unless directly caused by an emergency or unexpected expenditure made pursuant to §9.6, or authorized or ratified by the Management Committee, shall be for the sole account of the Manager and such excess shall not be included in the calculations of the Participating Interests. Budget overruns of ten percent (10%) or less shall be borne by the Participants in proportion to their respective Participating Interests as of the time the overrun occurs.

Budget Overruns; Program Changes. The Manager shall immediately notify the Management Committee of any material departure including documented reasons, from an adopted Program and Budget. If the Manager exceeds the total of an adopted Budget by more than ten percent per cent (10%), then the excess over ten percent per cent (10%), unless directly caused by an emergency or unexpected expenditure made pursuant to §9.6Section 9.3(h), due to unforeseen events beyond the reasonable control or anticipation of the Manager, or unless otherwise authorized or ratified by the Management Committee, shall be for the sole account of the Manager and such excess shall not be included in the calculations of the Participating Interests. Budget overruns of ten percent per cent (10%) or less shall be borne by the Participants in proportion acceptable to their respective Participating Interests as form part of the time the overrun occursEarn-In Expenditures.

Budget Overruns; Program Changes. The Manager shall immediately notify the Management Committee of any material departure from an adopted Program and Budget. If the Manager exceeds the total of an adopted Budget by more than ten fifteen percent (1015%)) in the aggregate, then the excess over ten fifteen percent (1015%), unless directly caused by an emergency or unexpected expenditure made pursuant to §9.6, or authorized or ratified by the Management Committee, shall be for the sole account of the Manager and such excess shall not be included in the calculations of the Participating InterestsOwnership Interests nor deemed a contribution under this Agreement. Budget overruns of ten fifteen percent (1015%) or less in the aggregate shall be borne by the Participants Members in proportion to their respective Participating Interests as of the time the overrun occursrespec­tive Ownership Interests.

Budget Overruns; Program Changes. The Manager shall immediately notify the Management Committee of any material departure including documented reasons, from an adopted Program and Budget. If the Manager exceeds the total of an adopted Budget by more than ten percent per cent (10%), then the excess over ten percent per cent (10%), unless directly caused by an emergency or unexpected expenditure made pursuant to §9.6Section 9.3(h), due to unforeseen events beyond the reasonable control or anticipation of the Manager, or unless otherwise authorized or ratified by the Management Committee, shall be for the sole account of the Manager and such excess shall not be included in the calculations of the Participating Interests. Budget overruns of ten percent per cent (10%) or less shall be borne by the Participants in proportion acceptable to their respective Participating Interests as form part of the time the overrun occursEarn - In Expenditures.

Budget Overruns; Program Changes. The Manager shall immediately notify the Management Committee of any material departure from an adopted Program and Budget. If the Manager exceeds the total of an adopted Budget by more than ten percent (10%), then the such excess over ten percent (10%), shall be for the sole account of the Manager, not creditable to the calculation of Participating Interests, unless such excess amount is directly caused by an emergency or unexpected expenditure made pursuant to §9.6, Section 9.8 or is otherwise authorized or ratified by the approval of the Management Committee, shall be for the sole account of the Manager and such excess shall not be included in the calculations of the Participating Interests. Budget overruns of ten percent (10%) or less shall be borne by the Participants in proportion to their respective Participating Interests as of the time the overrun occurs.