Unbudgeted Expenditures Clause Samples

The Unbudgeted Expenditures clause defines how costs or expenses that were not anticipated or included in the original budget are to be handled under an agreement. Typically, this clause outlines the process for identifying, approving, and allocating responsibility for such unforeseen expenses, often requiring prior written consent from certain parties before incurring additional costs. Its core function is to prevent disputes and ensure financial control by establishing clear procedures for managing unexpected expenditures, thereby protecting parties from unauthorized or excessive spending.
POPULAR SAMPLE Copied 1 times
Unbudgeted Expenditures. The approval of Owner will be required for any unbudgeted expenditure that exceeds the greater of five percent (5%) of such individual line item of expenses and Five Hundred Dollars ($500), except that such approval shall not be required for payment of Non Controllable Expenses or for payments (the “Emergency Expenditures”) required to avoid suspension of any necessary services to the Store, or for repairs which are immediately required to be made for the preservation or safety of the Store or to avoid immediate danger to life or property. In the event of Emergency Expenditures, Manager will inform Owner of any such expenditure as promptly as possible.
View Source
Unbudgeted Expenditures. The Planning Department must obtain written approval from OCII for any unbudgeted expenditures and services. OCII will not reimburse the Planning Department for unbudgeted expenditures and services incurred without prior written approval.
View Source
Unbudgeted Expenditures. The Westlake Parties shall notify Owner as soon as practicable of any occurrences or other circumstances which the Westlake Parties have reason to believe may (a) cause any line item in the most recently Approved Annual Budget (as updated pursuant to Section 8.1) to be exceeded by the greater of (i) twenty percent (20%); or (ii) 1 million US dollars or (b) cause the total amount of such Approved Annual Budget to be exceeded by the greater of (i) twenty percent (20%); or (
View SourceView Similar (4)
Unbudgeted Expenditures. The ITF must obtain written approval from OCII for any unbudgeted expenditures and services. OCII will not reimburse Public Works for unbudgeted expenditures and services incurred without prior written approval. OCII cannot reimburse Public Works for unbudgeted expenditure amounts that, when added to the approved ITF Annual Budget, exceed the Transbay total annual expenditure authority approved by the DOF and Board of Supervisors.
View Source
Unbudgeted Expenditures. Service Provider shall notify Owner as soon as practicable of any occurrences or other circumstances which Service Provider has reason to believe may (a) cause any line item in the most recently Approved Annual Budget (as updated pursuant to Section 3.1) to be exceeded by twenty percent (20%) or (b) cause the total amount of such Approved Annual Budget to be exceeded by twenty percent (20%) or more. If Service Provider determines that either clause (a) or (b) will likely occur, Service Provider shall in the notice advising Owner describe the circumstances thereof in writing in such detail as may reasonably be necessary to provide an informed understanding of the situation including a description of the category or categories of Expenditures involved, the reason for such projected overage, the necessary revisions to the Approved Annual Budget to cover such overage, and such further information as Owner may reasonably request. Owner shall have the right, acting reasonably, to comment on and make objections to such revisions; provided that if Owner and Service Provider fail to agree on such revisions, Service Provider’s revisions shall remain in place, subject to Owner’s right to resolve disputes in a court of law pursuant to this Agreement.
View Source
Unbudgeted Expenditures. Big West shall notify Owner as soon as practicable of any occurrences or other circumstances which Big West has reason to believe may (a) cause any line item in the most recently Approved Annual Budget (as updated pursuant to Section 3.1) to be exceeded by twenty percent (20%) or (b) cause the total amount of such Approved Annual Budget to be exceeded by twenty percent (20%) or more. If Big West determines that either clause (a) or (b) will likely occur, Big West shall in the notice advising Owner describe the circumstances thereof in writing in such detail as may reasonably be necessary to provide an informed understanding of the situation including a description of the category or categories of Expenditures involved, the reason for such projected overage, the necessary revisions to the Approved Annual Budget to cover such overage, and such further information as Owner may reasonably request. Owner shall have the right, acting reasonably, to comment on and make objections to such revisions; provided that if Owner and Big West fail to agree on such revisions, Big West’s revisions shall remain in place, subject to Owner’s right to resolve disputes in a court of law pursuant to this Agreement.
View Source

Related to Unbudgeted Expenditures

  • ▇▇▇▇▇▇’S EXPENDITURES If any action or proceeding is commenced that would materially affect ▇▇▇▇▇▇’s interest in the Collateral or if Borrower fails to comply with any provision of this Agreement or any Related Documents, including but not limited to Borrower’s failure to discharge or pay when due any amounts Borrower is required to discharge or pay under this Agreement or any Related Documents, Lender on Borrower’s behalf may (but shall not be obligated to) take any action that Lender deems appropriate, including but not limited to discharging or paying all taxes, liens, security interests, encumbrances and other claims, at any time levied or placed on any Collateral and paying all costs for insuring, maintaining and preserving any Collateral. All such expenditures incurred or paid by Lender for such purposes will then bear interest at the rate charged under the Note from the date incurred or paid by Lender to the date of repayment by ▇▇▇▇▇▇▇▇. All such expenses will become a part of the Indebtedness and, at Lender’s option, will (A) be payable on demand; (B) be added to the balance of the Note and be apportioned among and be payable with any installment payments to become due during either (1) the term of any applicable insurance policy; or (2) the remaining term of the Note; or (C) be treated as a balloon payment which will be due and payable at the Note’s maturity.

  • Capital Expenditures The Issuer shall not make any expenditure (by long-term or operating lease or otherwise) for capital assets (either realty or personalty).

  • AUTHORIZED EXPENDITURES Only expenditures which are detailed in the approved budget of the grant application, a revised budget, or an amended budget approved by the OAG are eligible for reimbursement with grant funds. Any requested modification to the budget must be submitted by the Provider in writing to the OAG and will require prior approval by the OAG. Budget modification approval is at the sole discretion of the OAG. Any grant funds reimbursed under this Agreement must be used in accordance with the rules implementing the provisions of VOCA, 34 U.S.C. § 20103, Crime Control and Law Enforcement, 28 C.F.R. §§94.101 through 94.122, the federal government-wide grant rules as set forth in the 2 C.F.R. § 200, and the U.S. Department of Justice, (DOJ), Office of Justice Programs, DOJ Grants Financial Guide, (Financial Guide), and any other regulations or guidelines currently or subsequently required by the U.S. Department of Justice and state or federal laws. Expenditures for the acquisition and maintenance of telephones and equipment will be proportional to the percentage of VOCA grant funded staff who utilize the telephones and equipment, as contemplated by this Agreement. Grant funds cannot be used as a revenue generating source and crime victims cannot be charged either directly or indirectly for services reimbursed with grant funds. Third party payers such as insurance companies, victim compensation, Medicare or Medicaid may not be billed for services provided by grant funded personnel to clients. Grant funds must be used to provide services to all crime victims, regardless of their financial resources or availability of insurance or third-party reimbursements. Travel expenses will be reimbursed with grant funds only in accordance with section 112.061, Florida Statutes. Expenditures of state financial assistance must be in compliance with all laws, rules and regulations applicable to expenditures of state funds, including, but not limited to, the Florida Reference Guide for State Expenditures. Only allowable costs resulting from obligations incurred during the term of this Agreement are eligible for reimbursement, and any balances of unobligated cash that have been advanced or paid that are not authorized to be retained for direct program costs in a subsequent period must be refunded to the OAG. Any funds paid in excess of the amount to which the Provider is entitled under the terms of this Agreement must be refunded to the OAG. The Provider will reimburse the OAG for all unauthorized expenditures and the Provider will not use grant funds for any expenditures made by the Provider prior to the execution of this Agreement or after the termination date of this Agreement. If the Provider is a unit of local or state government, the Provider must follow the written purchasing procedures of that governmental agency or unit. If the Provider is a non-profit organization, the Provider will obtain a minimum of three written quotes for all single item grant-related purchases equal to or in excess of $2,500 unless it is documented that the vendor is a sole source supplier. The Provider will use the lowest quote for the purchase.

  • Excluded Expenditures The Recipient undertakes that the proceeds of the Financing shall not be used to finance Excluded Expenditures. If the Association determines at any time that an amount of the Financing was used to make a payment for an Excluded Expenditure, the Recipient shall, promptly upon notice from the Association, refund an amount equal to the amount of such payment to the Association. Amounts refunded to the Association upon such request shall be cancelled.

  • Expenditures The Assuming Institution will pay such bills and invoices on behalf of the Receiver and the Corporation as the Receiver or the Corporation may direct for the period beginning on the date of the Bank Closing Date and ending on Settlement Date. The Assuming Institution shall submit its requests for reimbursement of such expenditures pursuant to Article VIII of this Agreement.