“Annual Operating Budgets” means the budget, including all Operating Expenses, and all known or anticipated leasing costs, for each Property (broken out by Property and shown in the aggregate) prepared by the Borrowers for the applicable Fiscal Year or other period, as the same may be amended, modified or supplemented from time to time in accordance with this Agreement.
“Annual Budget” shall mean the operating budget, including all planned Capital Expenditures, for the Property prepared by for the applicable Fiscal Year.
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