Operating and Capital Expenditure Budgets Clause Samples

The Operating and Capital Expenditure Budgets clause establishes the procedures and requirements for preparing, approving, and managing budgets related to both day-to-day operational costs and significant capital investments. Typically, this clause outlines the timelines for submitting budget proposals, the parties responsible for review and approval, and the process for making amendments during the budget period. Its core practical function is to ensure financial discipline and transparency, providing a structured approach to planning and controlling expenditures, and thereby minimizing disputes over spending and resource allocation.
Operating and Capital Expenditure Budgets. On or before the Closing Date, Lender shall have received and reasonably approved the Operating Budget and Capital Expenditure Budget for each of the Properties for the remainder of the current calendar year, which Operating Budget and Capital Expenditure Budget are attached hereto as Schedule 3.1(N).
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Operating and Capital Expenditure Budgets. At least thirty days prior to the end of each Fiscal Year during the term of this Agreement, the General Partner will submit to the Limited Partner proposed operating and capital expenditure budgets for the Partnership and its Subsidiaries for the following Fiscal Year and will negotiate in good faith with the Limited Partner regarding any changes to such budgets requested by the Limited Partner. If the General Partner and the Limited Partner are unable to reach agreement on the changes proposed by the Limited Partner, the operating and capital expenditure budgets for the Partnership and its Subsidiaries proposed by the General Partner will be the budgets of the Partnership and its Subsidiaries.
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Operating and Capital Expenditure Budgets. After consultation with TCI, commencing with the first Fiscal Year beginning after the Closing, Insight shall cause to be prepared and distributed to each Member operating and capital expenditure budgets for the Company for each Fiscal Year.
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Operating and Capital Expenditure Budgets. A five-year operating plan for the Partnership is attached to this Agreement as Schedule III for informational purposes only. After consultation with TCI, the Managing Partner shall prepare and distribute to each Partner for informational purposes only an operating budget and a capital expenditure budget for the Partnership for each Fiscal Year.
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Operating and Capital Expenditure Budgets. On or before the tenth (10th) day prior to the Closing Date, Lender shall have received and reasonably approved the Operating Budgets and Capital Expenditure Budgets for the Property for the remainder of the current calendar year and for the immediately succeeding calendar year.
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Operating and Capital Expenditure Budgets. By November 1st of each Fiscal Year, the Class B Limited Partner shall deliver to the General Partner and SLP an annual operating budget of revenues and expenses for the Partnership for the following Fiscal Year that shall include all operating revenues and expenses applicable to the Project, including the following accounts detailed in the Accountant’s Addendum. By November 1st of each year, the Class B Limited Partner shall send to the General Partner and SLP a budget of Capital Expenditures for the subsequent Fiscal Year which shall include a description of the item or service, anticipated date of purchase or completion of service, total cost, reason for expenditure and anticipated source of funds (e.g., operations or replacement reserves).
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Operating and Capital Expenditure Budgets. On or before the Closing Date, Lender shall have received and reasonably approved the Operating Budget and Capital Expenditure Budget for each Individual Property for the remainder of the current calendar year. The budgets for the calendar year 2004, copies of which are attached hereto as Schedule 3.1(N), are hereby approved.
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Related to Operating and Capital Expenditure Budgets

  • Capital Expenditures The Issuer shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty).

  • Capital Expenditure Make or incur any Capital Expenditure if, after giving effect thereto, the aggregate amount of all Capital Expenditures by Borrower in any fiscal year would exceed the amount set forth on the Schedule;

  • Budget 1. The Grantee budget for grant activities for the 2023 Summer Program and State fiscal year 2024 is $ 1,000,267. Any funds received under this grant will not be used to supplant funds normally budgeted for programs or service of the same or similar type. 2. The Grantee may transfer funds among its administrative budget line items as required to carry out the purposes of the grant. Transfer of funds within specified budget categories do not require approval from OSHE (i.e. moving funds from one counselor position to pay for another), however, any transfer of funds from one category to another will require prior approval from OSHE and will be treated as a modification to the program’s contract Attachment. 3. Any request for a budget modification must be in writing and must include a revised budget. All budget revisions and modifications must be in accordance with the EOF Regulations, Section N.J.A.C. 9A:11-6.11. The Grantee will be liable for all unapproved debts.

  • Operating Budgets Manager has submitted to Owner, for Owner's approval, a proposed operating budget for the ensuing full or partial fiscal year, as the case may be ("Operating Budget"). Hereafter, Manager shall, not less than forty-five (45) days prior to the commencement of each full fiscal year, submit to Owner, for Owner's approval, a proposed Operating Budget for the ensuing full or partial fiscal year, as the case may be. Each Operating Budget shall be accompanied by, and shall include, a business plan which shall describe business objectives and strategies for the period covered by the Operating Budget. The business plan shall include, without limitation, an analysis of the market area in which the Hotel competes, a comparison of the Hotel and its business with competitive hotels, an analysis of categories of potential guests, and a description of sales and marketing activities designed to achieve and implement identified objectives and strategies. Fee Owner shall have no right to approve any Operating Budget. Owner's approval of the Operating Budget shall not be unreasonably withheld and shall be deemed given unless a specific written objection thereto is delivered by Owner to Manager within fifteen (15) days after submission. Owner shall review the Operating Budget on a line-by-line basis. To be effective, any notice which disapproves a proposed Operating Budget must contain specific objections in reasonable detail to individual line items. If the initial Operating Budget contains disputed budget item(s), said item(s) shall be deemed adopted until Owner and Manager have resolved the item(s) objected to by Owner or the Accountant(s) (hereinafter defined in Section 10.02) have resolved the item(s) objected to by Owner. Thereafter, if Owner disapproves or raises objections to a proposed Operating Budget in the manner and within the time period provided therefor, and Owner and Manager are unable to resolve the disputed or objectionable matters submitted by Owner prior to the commencement of the applicable fiscal year, the undisputed portions of the proposed Operating Budget shall be deemed to be adopted and approved and the corresponding line item contained in the Operating Budget for the preceding fiscal year shall be adjusted as set forth herein and shall be substituted in lieu of the disputed items in the proposed Operating Budget. Those line items which are in dispute shall be determined by increasing the preceding fiscal year's corresponding line items by an amount determined by Manager which does not exceed the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the United States Department of Labor, U.S. City Average, all items (1984-1986=100) for the fiscal year prior to the fiscal year with respect to which the adjustment to the line item is being calculated or any successor or replacement index thereto. The resulting Operating Budget obtained in accordance with the preceding sentence shall be deemed to be the Operating Budget in effect until such time as Manager and Owner have resolved the items objected to by Owner. Manager shall revise the Operating Budget from time to time, as necessary, to reflect any unpredicted significant changes, variables or events or to include significant, additional, unanticipated items of income or expense. Any such revision shall be submitted to Owner for approval,

  • Maximum Capital Expenditures Borrower and its Subsidiaries on a consolidated basis shall not make Capital Expenditures during the following periods that exceed in the aggregate the amounts set forth opposite each of such periods: Period Maximum Capital Expenditures per Period Fiscal Year ending on or about March 31, 2007 $ 7,900,000 Fiscal Year ending on or about March 31, 2008 $ 9,500,000 Fiscal Year ending on or about March 31, 2009 and each Fiscal Year ending thereafter $ 3,000,000