Common use of Budget Preparation Clause in Contracts

Budget Preparation. The estimated expenditures for that portion of the first Calendar Year beginning on the Effective Date and ending on December 31st shall be set forth in the Budget which will be attached hereto as Schedule 2.6 following its preparation by the Operating Committee and approval by the Executive Committee. By the initial September 15th following the Effective Date of the Agreement and for each subsequent September 15th, the Operating Committee shall prepare a Budget for the upcoming Calendar Year for approval by the Executive Committee.