2008 Operating Plan Sample Clauses

2008 Operating Plan. (1) The Chief Executive Officer shall, in accordance with the Chief Executive Officer Position Description of the Company, remain directly accountable to the Board for all activities of the Company (and, as Chief Executive Officer of Xxxx Canada, to the board of Xxxx Canada for all activities of Xxxx Canada), in the context of the boards’ responsibility for the supervision of the management of the business and affairs of the Company and Xxxx Canada, except for such matters (other than the implementation of the 2008 Operating Plan as described below) with respect to which the Board or the board of Xxxx Canada, in light of its fiduciary duties (and upon advice of counsel), may determine is in the best interests of the Company or Xxxx Canada, respectively, to delegate authority to other officers. If the Board or the board of directors of Xxxx Canada, respectively, determines in good faith that it is no longer in the best interests of the Company or Xxxx Canada that Xxxxxx Xxxx continue to serve as the Chief Executive Officer of that corporation (or to revoke the appointment of Xxxxxx Xxxx as Chief Executive Officer prior to the effective date of such appointment), then prior to effecting any such revocation or dismissal (or constructive dismissal, it being agreed that no constructive dismissal shall have occurred for the purposes of this Agreement until the Board has been notified in writing of an allegation of constructive dismissal and the specific details thereof and such situation is not remedied promptly, and in any event within 15 days thereafter) it will consult with the Purchaser in good faith concerning the basis for such termination (or revocation of appointment) and the proposed successor (or acting successor) Chief Executive Officer and, other than in the case of a termination for Cause, as such term is defined in the Supplemental Company Disclosure Letter, obtain the consent of the Purchaser for such termination (or revocation of appointment) and successor, which consent will not be unreasonably withheld or delayed. In the event a successor Chief Executive Officer is appointed, the foregoing provisions of this Section 5.1.1(1) will apply mutatis mutandis. (2) The Company has adopted the 2008 Operating Plan and delegated to Xxxxxx Xxxx in his capacity as Chief Executive Officer the authority to implement the operational elements of 2008 Operating Plan under the supervision and direction of the Board. The Company makes no assurances that the projec...
Sample 1
AutoNDA by SimpleDocs
2008 Operating Plan. (1) The Chief Executive Officer shall, in accordance with the Chief Executive Officer Position Description of the Company, remain directly accountable to the Board for all activities of the Company (and, as Chief Executive Officer of Xxxx Canada, to the board of Xxxx Canada for all activities of Xxxx Canada), in the context of the boards’ responsibility for the supervision of the management of the business and affairs of the Company and Xxxx Canada, except for such matters (other than the implementation of the 2008 Operating Plan as described below) with respect to which the Board or the board of Xxxx Canada, in light of its fiduciary duties (and upon advice of counsel), may determine is in the best interests of the Company or Xxxx Canada, respectively, to delegate authority to other officers. If the Board or the board of directors of Xxxx Canada, respectively, determines in good faith that it is no longer in the best interests of the Company or Xxxx Canada that Xxxxxx Xxxx continue to serve as the Chief Executive Officer of that corporation (or to revoke the appointment of Xxxxxx Xxxx as (1) will apply mutatis mutandis. (2) The Company has adopted the 2008 Operating Plan and delegated to Xxxxxx Xxxx in his capacity as Chief Executive Officer the authority to implement the operational elements of 2008 Operating Plan under the supervision and direction of the Board. The Company makes no assurances that the projected cost savings or other results contemplated by the 2008 Operating Plan will be obtained on a timely basis or at all. The Company may change or modify the 2008 Operating Plan from time to time as contemplated by the definition thereof, provided that the Company agrees that it will not make any changes or modifications to the 2008 Operating Plan that would reasonably be expected, individually or in the aggregate, to be material to the Purchaser without first providing the Purchaser a reasonable opportunity for consultation.”
Sample 1

Related to 2008 Operating Plan

  • Operating Plan To Agent and Lenders, as soon as available, but not later than thirty (30) days after the end of each Fiscal Year, an annual combined operating plan (the "Operating Plan") for Parent and its Subsidiaries, approved by the Board of Directors of Parent, for the following Fiscal Year, which (i) includes a statement of all of the material assumptions on which such plan is based, (ii) includes projected monthly income statement, balance sheets and source and use of funds for the following year and (iii) Borrowing Availability projections, all prepared on the same basis and in similar detail as that on which operating results are reported (and in the case of cash flow projections, representing management's good faith estimates of future financial performance based on historical performance), and including plans for personnel, Capital Expenditures and facilities.

  • Annual Operating Plan Purchaser may be required to submit a written annual operating plan, as specified by, and at the request of the Forest Officer.

  • Annual Operating Budget Manager shall, on or before December 20 in each calendar year during the Term, deliver to Owner for Owner’s approval, an annual operating budget for the Community for the next calendar year (the “Annual Operating Budget”) which shall include separate line items for Capital Replacements and set forth an estimate, on a monthly basis, of Gross Revenues and Community Expenses, together with an explanation of anticipated changes to Tenants charges, payroll rates and positions, non-wage cost increases, the proposed methodology and formula employed by Manager in allocating shared Community Expenses, and all other factors differing from the then current calendar year. The Annual Operating Budget shall be accompanied by a narrative description of operating objectives and assumptions. If Owner does not approve an Annual Operating Budget or any portion thereof, it shall do so, to the extent practicable, on a line item basis. Manager and Owner shall cooperate to resolve disputed items, provided if the Annual Operating Budget is not approved by Owner within thirty (30) days of Owner’s receipt, Manager shall operate under the expired Annual Operating Budget until a new Annual Operating Budget is approved, provided that line items for Impositions, insurance premiums and utilities shall be the amounts actually incurred for such items. If agreement on the Annual Operating Budget cannot be reached within forty-five (45) days of Owner’s receipt (which time may be extended upon mutual agreement of the parties), the matter shall be resolved by arbitration. The Annual Operating Budget as approved by Owner, or as resolved by arbitration, will be the “Approved Budget” for the applicable calendar year. Manager will obtain Owner’s prior approval for any expenditure which will, or is reasonably expected to, result in a variance of 5% or more of any Approved Budget.

  • Projected Operating Budget Furnish Agent, no later than thirty (30) days after the beginning of each fiscal year of Borrower commencing with fiscal year 2021, a month by month projected operating budget and cash flow of Borrower on a consolidated and consolidating basis for such fiscal year (including an income statement for each month and a balance sheet as at the end of the last month in each fiscal quarter), such projections to be accompanied by a certificate signed by the President or Chief Financial Officer of Borrower, in his personal capacity, to the effect that such projections have been prepared on the basis of sound financial planning practice consistent with past budgets and financial statements and that such officer has no reason to question the reasonableness of any material assumptions on which such projections were prepared.

  • Business Plan The Lenders shall have received a satisfactory business plan for fiscal years 1999-2006 and a satisfactory written analysis of the business and prospects of the Borrower and its Subsidiaries for the period from the Closing Date through the final maturity of the Term Loans.

  • Operating Budget (a) No less than forty-five (45) days prior to the Substantial Completion of each train of the Project, and no less than forty-five (45) days prior to the beginning of each calendar year thereafter, the Borrower shall prepare a proposed operating plan and a budget setting forth in reasonable detail the projected requirements for Operation and Maintenance Expenses for the Borrower and the Project for the ensuing calendar year (or, in the case of the initial Operating Budget, the remaining portion thereof) and provide the Independent Engineer, the Common Security Trustee, and the Senior Facility Agent with a copy of such operating plan and budget (the “Operating Budget”). Each Operating Budget shall be prepared in accordance with a form approved by the Independent Engineer, shall set forth all material assumptions used in the preparation of such Operating Budget, and shall become effective upon approval of the Senior Facility Agent, acting reasonably and in consultation with the Independent Engineer; provided, that if the Senior Facility Agent shall not have approved or disapproved the Operating Budget within thirty (30) days after receipt thereof, such Operating Budget shall be deemed to have been approved; and provided, further that the Senior Facility Agent shall have neither the right nor the obligation to approve costs for Gas purchase contracts for the Project contained in the Operating Budget. If the Borrower does not have an effective annual Operating Budget before the beginning of any calendar year, until such proposed Operating Budget is approved, the Operating Budget most recently in effect shall continue to apply; provided, that (A) any items of the proposed Operating Budget that have been approved shall be given effect in substitution of the corresponding items in the Operating Budget most recently in effect, (B) costs for Gas purchase contracts for the Project shall be as provided by the Borrower and (C) all other items shall be increased by the lesser of (x) two and one-half percent (2.5%) and (y) the increase proposed by the Borrower for such item in such proposed Operating Budget. (b) Each Operating Budget delivered pursuant to this Section 1.12 shall contain Operating Budget Categories, and shall specify for each Fiscal Quarter and for each such Operating Budget Category the amount budgeted for such category for such Fiscal Quarter.

  • Staffing Plan The Board and the Association agree that optimum class size is an important aspect of the effective educational program. The Polk County School Staffing Plan shall be constructed each year according to the procedures set forth in Board Policy and, upon adoption, shall become Board Policy.

  • Emergency Mode Operation Plan Contractor must establish a documented plan to enable continuation of critical business processes and protection of the security of electronic County PHI or PI in the event of an emergency. Emergency means any circumstance or situation that causes normal computer operations to become unavailable for use in performing the work required under this Agreement for more than twenty-four (24) hours.

  • Annual Plan On or before November 1 of each calendar year during the Term, Manager shall prepare and submit to Owner for its approval a proposed annual plan for the promotion, operation, leasing, repair and maintenance of the Project for each calendar year (the "Proposed Annual Plan"). For purposes of this Agreement, a "Fiscal Year" shall mean a calendar year beginning on the first day of January and ending on the last day of December. The Annual Plan for the remaining portion of Fiscal Year 2003 is attached hereto as Exhibit "A".

  • Budget Consulting Engineer/Architect shall advise City if, in its opinion, the amount budgeted for construction is not sufficient to adequately design and construct the improvement as requested.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!