Common use of Preparation And Submission Of Budgets For Operating Costs Clause in Contracts

Preparation And Submission Of Budgets For Operating Costs. The Operator shall 1 prepare an initial budget for Operating Costs for the period commencing with the 2 Effective Date to the end of the calendar year. The Operator shall prepare an annual 3 budget for Operating Cost for each calendar year thereafter. Operator shall have the 4 right to amend any such budget from time to time or change to a non-calendar year 5 and shall provide notice to Interconnector of any such change. For purposes of this 6 Section 12, the term “budget” shall include any such amended budget. Each budget 7 shall show the estimated monthly expenses and costs allocated to the Interconnector

Preparation And Submission Of Budgets For Operating Costs. The Operator shall 1 3 prepare an initial budget for Operating Costs for the period commencing with the 2 4 Effective Date to the end of the calendar year. The Operator shall prepare an annual 3 5 budget for Operating Cost for each calendar year thereafter. Operator shall have the 4 6 right to amend any such budget from time to time or change to a non-calendar year 5 7 and shall provide notice to Interconnector of any such change. For purposes of this 6 8 Section 12, the term “budget” shall include any such amended budget. Each budget 7 9 shall show the estimated monthly expenses and costs allocated to the Interconnector