(c) Changes. Operator shall notify Owner as soon as reasonably possible of any
significant deviations or discrepancies from the projections contained in the Annual
Budget or Annual Project Operating Plan.
(d) Five-Year Budget. On or before March 1 of each Contract Year, Operator
shall prepare and submit to Owner a proposed budget for the next 5 Fiscal Years or the
remaining term of the Agreement, whichever period is shorter, an example of which is
attached to Appendix C of this Agreement. The proposed five-year budget shall be
established on a Fiscal Year basis and shall include separate operating and capital
budgets. The proposed five-year budget shall also set forth, in detail acceptable to
Owner, (i) anticipated operations, repairs and capital improvements, (11) maintenance and
overhaul schedules, (iii) planned procurement (including equipment, spare parts, and
consumable inventories), (iv) labor costs, (v) administrative activities, and (vi) other
work proposed to be undertaken by Operator, together with an itemized estimate of all
Reimbursable Costs to be incurred, accompanied by the underlying assumptions and
implementation plans of the proposed five-year budget. Owner shall review Operator's
proposed five-year budget within 60 days following receipt of the proposal. Owner may,
by written request, propose changes, additions, deletions and modifications to the
proposals. Owner and Operator will then meet and use their reasonable commercial
efforts to agree upon a final five-year budget (the "Five-Year Budget"). If a final Five-
Year Budget is not approved in its entirety by both parties, the proposed five-year budget
submitted by Operator, together with Owner's final suggested changes, additions,
deletions and modifications shall serve as the Five-Year Budget. The Five-Year Budget
shall be used only for planning and comparison purposes, and shall not constrain
Operator in its actions or expenditures, provided, however, that Operator shall be
required to conform in its operations to the Annual Budget and Annual Project Operating
Plan as provided in this Agreement.
Section 6.3 - Operating Data and Records. Operator shall monitor and record all
operating data and information that (2) Owner must report to any person or entity under
any Project Agreement, (ii) Owner must report to any government agency or other person
or entity under applicable Laws and (iii) Owner reasonably requests. Operator shall
report required or requested operating data and information to Owner as specified by
Owner to support monthly invoicing under the Project Agreements, and within 15 days
following a request by Owner. Operating data to be reported include information from
operating logs, meter and gauge readings and maintenance records.
Section 6.4 - Accounts and Reports. Operator shall cooperate with Owner in
complying with reporting requirements set forth in the Project Agreements and shall,
during the term of this Agreement, furnish or cause to be furnished to Owner the
following reports concerning the Project operations and the Services:
(a) Monthly Reports. Within fifteen (15) Business Days following the last day of
each calendar month, Operator shall submit: (i) a progress report, in detail acceptable to
Owner, covering all activities during such month with respect to operations and
maintenance (including information regarding the amount of electric energy generated,
hours of operation, availability, outages, accidents and emergencies), capital
improvements, labor, other significant matters, and Services. The monthly report shall
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