Operations Pursuant to Programs and Budgets. Except as otherwise provided in Section 9.8 and Article XIII, operations shall be conducted, expenses shall be incurred, and Assets shall be acquired only pursuant to approved Programs and Budgets. Pro-grams and Budgets shall be designed to set forth in reasonable detail the scope, direction and nature of Operations and to establish a basis for Operations, but are not expected to constitute an enumerated list of each activity and expenditure to be undertaken by the Manager.
Appears in 2 contracts
Sources: Mining Venture Agreement (Crested Corp), Mining Venture Agreement (Us Energy Corp)