Common use of Review and Approval of Proposed Programs and Budgets Clause in Contracts

Review and Approval of Proposed Programs and Budgets. Within 30 days after submission of a proposed Program and Budget, each Participant shall submit to the Management Committee: (a) notice that the Participant approves the proposed Program and Budget; or (b) proposed modifications of the proposed Program and Budget; or (c) notice that the Participant rejects the proposed Program and Budget. If a Participant fails to give any of the foregoing responses within the allotted time, the failure shall be deemed to be an approval by the Participant of the Operator's proposed Program and Budget. If a Participant makes a timely submission to the Management Committee pursuant to section 8.4(b) or (c), then the Management Committee shall meet to consider and develop a Program and Budget acceptable to the Participants. If the Management Committee does not unanimously approve a proposed Program and Budget within 30 days after the Operator's receipt of a notice pursuant to section 8.4(b) or (c), a proposed Program and Budget may be approved by a majority vote of the Management Committee.

Review and Approval of Proposed Programs and Budgets. Within 30 days after submission of a proposed Program and Budget, each Participant Member shall submit to the Management Committee: (a) notice Notice that the Participant Member approves the proposed Program and Budget; : or (b) proposed Proposed modifications of the proposed Program and Budget; or (c) notice Notice that the Participant Member rejects the proposed Program and Budget. If a Participant Member fails to give any of the foregoing responses within the allotted time, the failure shall be deemed to be an approval by the Participant Member of the Operator's Manager’s proposed Program and Budget. If a Participant Member makes a timely submission to the Management Committee pursuant to section 8.4(bSection 9.4(b) or (c), then the Management Committee shall meet seek to consider and develop a Program and Budget acceptable to the Participants. If the Management Committee does not unanimously approve a proposed Program and Budget within 30 days after the Operator's receipt of a notice pursuant to section 8.4(b) or (c), a proposed Program and Budget may be approved by a majority vote of the Management CommitteeMembers.