Common use of Obligation to comply with approved Operating Budgets Clause in Contracts

Obligation to comply with approved Operating Budgets. (1) The Contractor must implement and comply with the approved Operating Budgets for the Gallery, pro-rated for the period the Gallery is operational. (2) The Contractor, through fund raising from alternative sources has the ability to increase their expenditure, but not to the detriment of the Operating Budgets, or to cover losses outlined in clause 6.2(4).

Appears in 2 contracts

Sources: Management Agreement, Management Agreement