FAILURE TO COMPLETE BUDGET Sample Clauses

FAILURE TO COMPLETE BUDGET. The parties intend that an Approved Operating Budget and an Approved Capital Budget for the following calendar year shall be in place for the Property by October 1 of each preceding year during the Term. If an annual operating budget for the Property has not been approved by Owner prior to the commencement of any calendar year during the Term, the operating budget for each calendar month ("Current Month") until the annual operating budget is approved shall be the amount of the most recent Approved Operating Budget for the Property for the same calendar month ("Base Month"), as adjusted to reflect (a) any increase or decrease between the Base Month and the Current Month in the Consumer Price Index-U.S. Cities Average (base year 1982-84=100) published by the United States Department of Labor, Bureau of Labor Statistics, and (b) any increase or decrease in the occupancy of the Property between the Base Month and the Current Month. Property Manager shall submit such adjusted monthly operating budget to Owner for review not more than 10 days before the first day of the month for which it is proposed, and such budget, after approval by Owner, shall be deemed an "Approved Operating Budget" for purposes of this Agreement.
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FAILURE TO COMPLETE BUDGET. The parties intend that an Approved Operating Budget and an Approved Capital Budget for the following calendar year shall be in place for the Property by October 1 of each preceding year during the Term. If an annual operating budget for the Property has not been approved by Owner prior to the commencement of any calendar year during the Term, the operating budget for each calendar month ("Current Month") until the annual operating budget is approved shall be the amount of the most recent Approved Operating Budget for the Property for the same calendar month ("Base Month"), as adjusted to reflect (a) any increase or decrease between the Base Month and the Current Month in the Consumer Price Index-U.S. Cities Average (base year 1982-84=100) published by the United States Department of Labor, Bureau of Labor Statistics, and (b) any increase or decrease in the occupancy of the Property between the Base Month and the Current
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Related to FAILURE TO COMPLETE BUDGET

  • Project Completion Report At the completion of construction and once a Project is placed in service, the Subrecipient must submit a Project Completion Report that includes the total number of units built and leased, affordable units built and leased, DR-MHP units built and leased, an accomplishment narrative, and the tenants names, demographics and income for each DR-MHP unit.

  • Construction Budget The total amount of funds indicated by the District for the entire Project plus all other costs, including design, construction, administration, and financing.

  • FERPA Compliance In connection with all FERPA Records that Contractor may create, receive or maintain on behalf of University pursuant to the Underlying Agreement, Contractor is designated as a University Official with a legitimate educational interest in and with respect to such FERPA Records, only to the extent to which Contractor (a) is required to create, receive or maintain FERPA Records to carry out the Underlying Agreement, and (b) understands and agrees to all of the following terms and conditions without reservation:

  • Response/Compliance with Audit or Inspection Findings A. Grantee must act to ensure its and its Subcontractors’ compliance with all corrections necessary to address any finding of noncompliance with any law, regulation, audit requirement, or generally accepted accounting principle, or any other deficiency identified in any audit, review, inspection or investigation of the Grant Agreement and the services and Deliverables provided. Any such correction will be at Grantee’s or its Subcontractor's sole expense. Whether ▇▇▇▇▇▇▇'s action corrects the noncompliance shall be solely the decision of the System Agency. B. As part of the services, Grantee must provide to HHS upon request a copy of those portions of Grantee's and its Subcontractors' internal audit reports relating to the services and Deliverables provided to the State under the Grant Agreement. C. Grantee shall include the requirement to provide to System Agency (and any of its duly authorized federal, state, or local authorities) internal audit reports related to this Grant Agreement in any Subcontract it awards. Upon request by System Agency, Grantee shall enforce this requirement against its Subcontractor. Further, Grantee shall include in any Subcontract it awards a requirement that all Subcontractor Subcontracts must also include these provisions.

  • FCPA Compliance The Company has not and, to the Company’s actual knowledge, none of its employees or agents at any time during the last five years have (i) made any unlawful contribution to any candidate for foreign office, or failed to disclose fully any contribution in violation of law, or (ii) made any payment to any federal or state governmental officer or official, or other person charged with similar public or quasi-public duties, other than payments required or permitted by the laws of the United States or any jurisdiction thereof.