Operating Program and Budget definition
Examples of Operating Program and Budget in a sentence
The Operating Member shall provide a proposed Funding Plan along with each Operating Program and Budget, Additional Program and Budget and Closure Program and Budget proposed by the Operating Member to the Board which shall set forth proposed sources of funding as above provided.
The Board shall seek to Approve each Operating Program and Budget, Closure Program and Budget and Additional Program and Budget that follows the initial such Program and Budget and each accompanying Funding Plan by December 1st of the year immediately preceding the Calendar Year to which such Program and Budget relates.
In the event the Operating Member or a Manager believes that any Approved Operating Program and Budget, Approved Additional Program and Budget or Approved Closure Program and Budget should be revised prior to the end of the applicable Budget Period, the Operating Member or such Manager may propose one or more supplemental Programs and Budgets (each a “Supplemental Program and Budget”) to the Board to be accomplished by the end of the then-current Budget Period.
If the Board for any reason fails timely to Approve an Operating Program and Budget, the Operating Member shall, subject to the contrary direction of the Board and to the availability of necessary funds, be authorized to continue, or to cause Nevada JV and its subsidiaries to continue, Operations sufficient to maintain the Nevada JV Assets and comply with applicable Legal Requirements and, if Mining is ongoing, to maintain production levels in effect when the failure occurs.
During the period after the date hereof until the first Operating Program and Budget is Approved by the Board, the Operating Member is authorized to carry out directly or through its Affiliates Operations that are (i) sufficient to maintain the Nevada JV Assets and comply with applicable Legal Requirements, (ii) in accordance with contracts in effect upon the date hereof, (iii) in furtherance of the Operations, and (iv) other activities related to the foregoing.
Each proposed Operating Program and Budget, Additional Program and Budget and Closure Program and Budget shall be subject to the requirements of Section 5.7(a) and the procedures set forth in Section 5.7(b).
If the Board for any reason fails timely to Approve an Operating Program and Budget, the Operating Member shall, subject to the contrary direction of the Board and to the availability of necessary funds, be authorized to continue, or to cause Nevada JV to continue, Operations sufficient to maintain the Nevada JV Assets and comply with applicable Legal Requirements and, if Mining is ongoing, to maintain production levels in effect when the failure occurs.
Each proposed Operating Program and Budget, Additional Program and Budget and Closure Program and Budget shall be subject to the requirements of Section 5.6(a) and the procedures set forth in Section 5.6(b).
The Board shall seek to Approve each Operating Program and Budget, Closure Program and Budget and Additional Program and Budget that follows the initial such Program and Budget and each accompanying Funding Plan by [December 15th of the year immediately preceding] the Calendar Year to which such Program and Budget relates.
The Operating Member is authorized to carry out directly or through its Affiliates Operations during the period after the date hereof until the first Operating Program and Budget is Approved by Nevada JV that are (i) sufficient to maintain the Nevada JV Assets and comply with applicable Legal Requirements, (ii) in accordance with contracts in effect upon the date hereof, (iii) in furtherance of the Operations, and (iv) other activities related to the foregoing.