Maunakea Spectroscopic Explorer will be a 10-m class highly multiplexed survey telescope, including a segmented primary mirror and robotic fiber positioners at the prime focus. MSE will replace the Canada France Hawaii Telescope (CFHT) on the summit of Mauna Kea, Hawaii. The multiplexing includes an array of over four thousand fibres feeding banks of spectrographs several tens of meters away. We present an overview of the requirements flow-down for MSE, from Science Requirements Document to Observatory Requirements Document. We have developed the system performance budgets, along with updating the budget architecture of our evolving project. We have also identified the links between subsystems and system budgets (and subsequently science requirements) and included system budget that are unique to MSE as a fiber-fed facility. All of this has led to a set of Observatory Requirements that is fully consistent with the Science Requirements.