Common use of Operating Period Clause in Contracts

Operating Period. Not later than ninety (90) days before the beginning of each Operating Year, Operator shall prepare and submit to Owner Operator’s proposed Operating Plan for the Facility for the following Operating Year. Each Operating Plan shall be prepared so as to comply and be consistent with Operator’s obligations set out in Article III. Each Operating Plan shall show, in such detail reasonably required by Owner, and on a Month-by-Month basis, all relevant information relating to the anticipated operation and on-going maintenance of the Facility by Operator, including the relevant information listed in Part 1 of Schedule 2. Together with each proposed Operating Plan submitted to Owner for an Operating Year, Operator shall prepare and submit to Owner a proposed Budget for the Facility for that Operating Year. The Budget shall show, in such detail reasonably required by Owner and on a Month-by-Month basis, an itemized estimate of Operating Expenses to be incurred in the implementation of the Operating Plan for the Facility in that Operating Year by Operator. The Budget shall include the expense categories set out in Part 2 of Schedule 2 or shall be in such other form as Owner may reasonably request.