Operating Budget; Aircraft Asset Expenses Budget Sample Clauses

Operating Budget; Aircraft Asset Expenses Budget. (a) AerCo, on behalf of AerCo Group, shall adopt with respect to the Initial Periods, each one Year period (a "ONE YEAR PERIOD") and each three Year period (a "THREE YEAR PERIOD" and, together with a One Year Period, each a "PERIOD") during the term of this Agreement, the following projected budgets which are to be prepared by the Administrative Agent on behalf of AerCo.: (i) a separate lease operating budget with respect to the Aircraft Assets distinguishing between cash and non-cash items (an "OPERATING BUDGET"); and (ii) a separate budget with respect to Aircraft Asset Expenses related to the Aircraft Assets distinguishing between cash and non-cash items (an "ASSET EXPENSES BUDGET"). (b) The initial Operating Budget for the period from the Closing Date through March 31, 2001 (the "ONE YEAR INITIAL PERIOD") and through March 31, 2003 (the "THREE YEAR INITIAL PERIOD" and, together with the One Year Initial Period, the "INITIAL PERIODS"), and the initial Asset Expenses Budget for the One Year Initial Period and the Three Year Initial Period shall be substantially in the forms attached hereto as Schedule 7.04(b)(1) and Schedule 7.04(b)(2) (the "INITIAL APPROVED BUDGETS"). The format for the Operating Budget and Asset Expenses Budget for future Years may be modified by AerCo with the consent of the Servicer, which consent shall not be unreasonably withheld.
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Operating Budget; Aircraft Asset Expenses Budget. (a) (i) MSAF, on behalf of the MSAF Group, shall adopt with respect to the Initial Periods, each one Year period (a "ONE YEAR PERIOD") and each three Year period (a "THREE YEAR PERIOD") during the term of this Agreement: (A) a separate cash operating budget with respect to the Aircraft Assets (each, an "OPERATING BUDGET"); and (B) a separate cash budget with respect to Aircraft Asset Expenses related to the Aircraft Assets (each, an "ASSET EXPENSES BUDGET"). The initial Operating Budgets for the period from the first Delivery Date through November 30, 1998 (the "ONE YEAR INITIAL PERIOD") and through November 30, 2000 (the "THREE YEAR INITIAL PERIOD" and together with the One Year Initial Period, the "INITIAL PERIODS"), and the initial Asset Expenses Budgets for the One Year Initial Period and the Three Year Initial Period, shall be substantially in a form to be agreed by the parties following execution of this Agreement but no later than the first Delivery Date (together, the "INITIAL APPROVED BUDGETS"). The Operating Budgets and Asset Expenses Budgets for each Initial Period, One Year Period and Three Year Period during the term of this Agreement shall be adopted by MSAF Group in accordance with Section 7.05(b). The Servicer shall use best efforts to achieve the Initial Approved Budgets and the Approved Budgets for any One Year Period and Three Year Period. (b) In respect of each One Year Period and Three Year Period after the Initial Periods during the term of this Agreement, MSAF shall prepare, and deliver to the Servicer no later than the September 30 immediately preceding the commencement of each Year, proposed One Year and Three Year Operating Budgets and One Year and Three Year Asset Expenses Budgets for each such period together with reasonably detailed supporting information and the assumptions underlying such proposed Operating Budgets or Asset
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Operating Budget; Aircraft Asset Expenses Budget. (a) (i) MSAF, on behalf of itself and the AOEs within the MSAF Group, shall adopt with respect to each one Year period (a "One Year Period") and each three Year period (a "Three Year Period") during the term of this Agreement: (A) a separate cash operating budget with respect to the Aircraft Assets owned by such AOEs (each, an "Operating Budget"); and (B) a separate cash budget with respect to Aircraft Asset Expenses related to the Aircraft Assets owned by such AOEs (each, an "Asset Expenses Budget"). The Operating Budgets with respect to Aircraft Assets owned as of the date hereof by MSA I and SPC-5 for the One Year Period ending November 30, 1999 and for the Three Year Period ending November 30, 2001 are attached hereto as Exhibit 7.05A.
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Related to Operating Budget; Aircraft Asset Expenses Budget

  • Operating Budget (a) No less than forty-five (45) days prior to the Substantial Completion of each train of the Project, and no less than forty-five (45) days prior to the beginning of each calendar year thereafter, the Borrower shall prepare a proposed operating plan and a budget setting forth in reasonable detail the projected requirements for Operation and Maintenance Expenses for the Borrower and the Project for the ensuing calendar year (or, in the case of the initial Operating Budget, the remaining portion thereof) and provide the Independent Engineer, the Common Security Trustee, and each Secured Debt Holder Group Representative with a copy of such operating plan and budget (the "Operating Budget"). Each Operating Budget shall be prepared in accordance with a form approved by the Independent Engineer, shall set forth all material assumptions used in the preparation of such Operating Budget, and shall become effective upon approval of the Common Security Trustee, acting reasonably and in consultation with the Independent Engineer; provided, that if the Common Security Trustee shall not have approved or disapproved the Operating Budget within thirty (30) days after receipt thereof, such Operating Budget shall be deemed to have been approved; and provided further that the Common Security Trustee shall have neither the right nor the obligation to approve costs for Gas purchase contracts for the Project contained in the Operating Budget. If the Borrower does not have an effective annual Operating Budget before the beginning of any calendar year, until such proposed Operating Budget is approved, the Operating Budget most recently in effect shall continue to apply; provided, that (A) any items of the proposed Operating Budget that have been approved shall be given effect in substitution of the corresponding items in the Operating Budget most recently in effect, (B) costs for Gas purchase contracts for the Project shall be as provided by the Borrower and (C) all other items shall be increased by the lesser of (x) two and one-half percent (2.5%) and (y) the increase proposed by the Borrower for such item in such proposed Operating Budget. (b) Each Operating Budget delivered pursuant to this Section 6.12 shall contain Operating Budget Categories, and shall specify for each Fiscal Quarter and for each such Operating Budget Category the amount budgeted for such category for such Fiscal Quarter. (c) Each Operating Budget may only be amended with the prior written consent of the Common Security Trustee (in consultation with the Independent Engineer), which consent shall not be unreasonably withheld, conditioned, or delayed.

  • Projected Operating Budget Furnish Agent, no later than thirty (30) days prior to the beginning of Borrower’s fiscal years commencing with fiscal year 2010, a month by month projected operating budget and cash flow of Borrower on a condolidated and consolidating basis for such fiscal year (including an income statement for each month and a balance sheet as at the end of the last month in each fiscal quarter), such projections to be accompanied by a certificate signed by the President or Chief Financial Officer of Borrower to the effect that such projections have been prepared on the basis of sound financial planning practice consistent with past budgets and financial statements and that such officer has no reason to question the reasonableness of any material assumptions on which such projections were prepared.

  • Approved Budget (a) On the last Thursday of each month after the Second Amendment Effective Time, on or before 12:00 pm (New York City time) on such Thursday, Administrative Borrower shall prepare and deliver to the Administrative Agent, for review and approval by the Required DDTL Approving Lenders, an updated week-by-week operating budget for the then subsequent month (each a “Budget” and, once approved as set forth below, the “Approved Budget”), which shall reflect Administrative Borrower’s good faith projection, for the Borrowers and their respective Restricted Subsidiaries, of (a) all weekly receipts (including from asset sales) and expenditures (including ordinary course operating expenses and any other fees and expenses related to the Loan Documents) in connection with the operation of their businesses, (b) weekly disbursements, and (c) net cash flow, in each case, for such month. The Budget delivered during the week of March 4, 2024 shall be the Approved Budget for March 2024. Together with delivery of the Budget, Administrative Borrower shall provide the Administrative Agent (for subsequent delivery to the Lenders) a variance report (“Variance Report”) in a form and substance reasonably acceptable to the Required DDTL Approving Lenders, comparing the actual receipts, disbursements, and net cash flow for such month through the immediately preceding week compared to the Approved Budget, both in dollar ($) and percentage (%) figures and an explanation of the variance. Each week promptly after the delivery of the Variance Report, the Borrower’s senior management and financial professionals shall review the Variance Report in detail during a telephonic conference with the Lenders. If the proposed Budget was timely delivered and contains the requisite information, the Lenders shall have until 2:00 p.m. (New York City Time) on the first Business Day of the following week to review any Budget after which time such Budget shall become an Approved Budget for all purposes hereunder; provided, no such Budget shall become an Approved Budget if reasonably objected to in writing (which may include e-mail) during the review period by the Administrative Agent (at the direction of the Required DDTL Approving Lenders) or Required DDTL Approving Lenders. (b) In the event that an event or circumstance occurs in between the monthly dates on which the Budgets are otherwise due pursuant to Section 6.24(a) which would make the then current Budget materially inaccurate, within two (2) Business Days of becoming aware of such event or circumstance, the Administrative Borrower shall provide notice of such event or circumstance to the Administrative Agent and the Lenders and promptly deliver a revised Budget reflecting the impact thereof. Without limiting the foregoing, the Budget shall be updated, modified or supplemented by the Administrative Borrower with the written consent of the Administrative Agent (at the direction of the Required DDTL Approving Lenders), and upon the request of the Administrative Agent (at the direction of the Required DDTL Approving Lenders) from time to time. (c) Each Budget delivered to the Administrative Agent and the Lenders shall be accompanied by such supporting documentation as reasonably requested by the Administrative Agent (at the direction of the Required DDTL Approving Lenders) and shall be prepared in good faith, with due care and based upon assumptions the Borrower believe to be reasonable. (d) Within one (1) Business Day of any Loan Party having knowledge of their occurrence or existence, Administrative Borrower shall provide the Administrative Agent and Lenders with written notice of any event or condition which is reasonably likely to entail expenditures of more than $100,000 which is not included in the Approved Budget (including, but not limited, on account of an accident, environmental event or other unanticipated occurrence) or which would otherwise be reasonably likely to have a negative impact on the value of the Loan Parties’ and their Subsidiaries’ assets or future business prospects or a similar event.

  • 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.

  • 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.