the Lenders shall have objected in writing to any supplemental or new Approved Budget and the Borrower and Lenders are unable to resolve the objection in accordance with the DIP Orders within three (3) Business Days of receipt of the Lenders’ objection in writing to such supplemental or new Approved Budget;

Budget and Budget Overruns. The initial budget associated with each TDP will be reviewed and approved by the JSC prior to or concurrent with any TDP becoming effective. The Parties acknowledge that the nature of the activities under each TDP shall require adjustment of the budget by the JSC from time to time. Approval for any such adjustments shall be by the JSC in accordance with Section 3. ​.

If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. The Administrative Agent may condition the disbursement of DIP Loans on receipt of such documentation as it shall reasonably require to evidence that the proceeds of such DIP Loans shall be used in accordance with the DIP Budget both as to amount of such DIP Loans and as to the timing of such DIP Loans. Each Borrowing Request shall constitute a representation by the Credit Parties that the amount of the requested Borrowing shall not cause the total Revolving Credit Exposures to exceed the total Commitments.

Research Budget. Each Research Plan shall include a rolling, ​ year budget for Research Costs to be incurred by each Party and its Affiliates in conducting the activities described in the Research Plan that are scheduled to be commenced or conducted during the ​ (with respect to such Calendar Years, the “Research Budget”). The Research Budget shall be broken down by Calendar Quarter and, for each Calendar Quarter, shall be broken down by Research FTE Costs and Out-of-Pocket Expenses. The ​ of each Research Budget shall be ​, and the ​ shall serve as ​.

Annual Budget. Deliver to the Administrative Agent within ninety (90) days after the end of each fiscal year, a budget and cash flow projection for the subsequent fiscal year.

Annual Budget. The Borrower shall deliver to the Administrative Agent, within sixty (60) days after the end of each fiscal year of the Borrower, an annual budget of the Companies for the then current fiscal year, to be in form and detail reasonably satisfactory to the Administrative Agent, it being agreed that an annual budget that substantially follows the format and level of detail of the annual budget provided to the Administrative Agent prior to the Closing Date and attached as [Exhibit A] to the Confidential Disclosure Letter, shall be deemed to be in form and detail reasonably satisfactory to the Administrative Agent.

Annual Budget. Not later than 90 days prior to the commencement of each calendar year, the Chief Executive Officer will submit to the Board a draft annual budget and business plan update (the “Annual Budget”) of the Business for the following calendar year, which draft Annual Budget shall include, among other things, # a description of all capital expenditures to be undertaken and the related investments and costs, # a description of all anticipated acquisition or disposition of businesses or assets outside of the Ordinary Course of Business, # a comprehensive and detailed summary of all Expenses expected to be incurred for the calendar year, including all Expenses related to the appointment and maintenance of the Chief Financial Officer and his/her finance team, and # a reasonable estimate of all Net Revenues expected to be received during such calendar year. The Chief Executive Officer of the Group will collaborate in good faith with the Board on the preparation of the applicable Annual Budget, provided that the Board of Directors will have the authority to approve the final applicable Annual Budget. In the event the Board and the Chief Executive Officer are unable in good faith to agree upon an Annual Budget, the Annual Budget for the prior year will remain in place and applicable to the then-current year. The Annual Budget for calendar year 2021 is set forth in that certain letter agreement delivered by the Sellers to the Buyer on June ​, 2021.

Cost Budget. Prior to the commencement of the construction of the Tenant Improvements, and after Tenant has accepted all bids for the Tenant Improvements, Tenant shall provide Landlord with a written detailed cost breakdown (the “Final Costs Statement”), of the final costs to be incurred, or which have been incurred, as set forth more particularly in [Section 2.2.1.1 through 2.2.1.9] above, in connection with the design and construction

Approved Budget. The Borrowers have delivered to the Agents on February 4, 2021 a weekly budget through July 31, 2021, prepared by the Administrative Borrower, which budget shall include information on a line item basis as to # projected cash receipts, # projected disbursements (including ordinary course operating expenses, capital expenditures, asset sales, credit party expenses and any other fees and expenses relating to the Loan Documents), # a calculation of the Borrowing Base and # the amount of Qualified Cash, which shall be in form and substance acceptable to the Agents (the “Approved Budget”) and each such Approved Budget to be consistent with past practice. At all times during the Forbearance Period, the Borrowers shall deliver to the Agents on or before 2:00 p.m. (Boston time) on Friday (or, if such day is not a Business Day, on the next succeeding Business Day) an updated Approved Budget for the thirteen (13) week period commencing as of the Sunday of such week, in form and substance satisfactory to the Agents (it being understood that each subsequent Approved Budget shall only add projections for the last week of the thirteen (13) week period covered thereby and shall not modify any prior periods, and no such updated, modified or supplemented budget shall be effective until so approved by the Agents and only once so approved by the Agents shall it be deemed an “Approved Budget”).

Budget Variance. At the time of each Revolving Borrowing, Borrower’s and its Subsidiaries’ Consolidated EBITDAR for the applicable fiscal quarter shall not deviate more than seven and one-half percent (7.5%) negatively from the Consolidated EBITDAR on the approved Budget for such fiscal quarter.