Adoption of Annual Budget Sample Clauses

Adoption of Annual Budget. The Annual Budget and any amendments to the Annual Budget shall be prepared and approved in accordance with this Section 5.1(c).
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Adoption of Annual Budget. The annual budget of Metro-INET must be adopted in the following manner:
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Adoption of Annual Budget. At least sixty (60) days prior to the beginning of each Fiscal Year, SCPPA will prepare, or cause to be prepared, and submit to the Participants, a proposed Annual Budget for such Fiscal Year. Such Annual Budget shall reflect the most recent Contract Costs estimates and other information provided to SCPPA. SCPPA may include in the Annual Budget reasonable amounts in excess of the estimated Contract Costs to be collected as an operating reserve to ensure that SCPPA may timely pay all Contract Costs. The Project Participants may submit to SCPPA, at any time until the Annual Budget is adopted, any matters or suggestions relating to the proposed Annual Budget. The Board of Directors shall adopt the Annual Budget not less than ten (10) days or more than sixty (60) days prior to the beginning of such Fiscal Year and shall cause a copy of such adopted Annual Budget to be delivered to the Participants. During any Fiscal Year, upon 10 calendar days’ notice to the Participants, the Board of Directors may adopt an amended Annual Budget for and applicable to the remainder of such Fiscal Year. The Annual Budget, and not actual Contract Costs, shall establish the basis for Billing Statements to the Project Participants pursuant to Section 7 of this Agreement.
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Adoption of Annual Budget. On or before the first day of August next preceding each Fiscal Year, the District shall finally adopt the Annual Budget for such next succeeding Fiscal Year.
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Adoption of Annual Budget. Upon receipt of the requisite information from Provider, Owner and the Asset Manager shall be responsible for preparing the Facilities operating budget (the “Annual Budget”). Provider shall use commercially reasonable efforts to assist and facilitate the creation of such Annual Budget and provide reasonable input to Owner and Asset Manager as needed. On or before October 1st of each year, Owner shall cause Asset Manager to prepare and submit to Owner for Approval a draft Annual Budget. The Annual Budget shall show for each month of the following calendar year projected revenues and operating costs. Owner shall have thirty (30) calendar days to review such proposed Annual Budget and may, upon written notice to Asset Manager and Provider, propose changes, additions, deletions and modifications thereto. The Owner shall make reasonable commercial efforts to Approve the Annual Budget on or before November 30th of each calendar year. If Provider does not agree with any of the changes proposed by Owner, then the Parties will meet and work in good faith to agree upon an Annual Budget. Once the Parties are in agreement, copies of the Annual Budget shall be approved in writing by both Parties. Once approved, the Annual Budget shall remain in effect throughout the applicable Operating Year, subject to such change, revision, amendment and updating as may be proposed by either Party and consented to in writing by the other Party. Owner’s approval of the Annual Budget shall serve to authorize the Provider to make all expenditures for the purposes and within the limits thereof; subject to the limitations of Section 2.4.1.10 of this Agreement. The expenses pertaining to the Facilities incurred by the Owner and payable by the Provider out of funds of the Owner shall not exceed the Annual Budget, unless authorized by the Owner, except under such circumstances deemed by the Provider as emergencies or out of the control of the Provider. In the event of such emergencies, the Owner shall be notified as soon as possible.
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Adoption of Annual Budget. Not later than 15 days before the expiry of each financial year after the date of this Agreement, having consulted with the Lead Sponsor, the Board shall use their best efforts to approve and adopt the draft annual budget and business plan (with those changes as the Board may approve) as the Annual Budget for the Group in respect of the next financial year of the Group.
Sample 1
Adoption of Annual Budget. 6 5.5 Reports .........................................................................................................................7 5.6
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Adoption of Annual Budget. The Authority shall adopt the annual budget for such calendar year (hereinafter referred to as the “Annual Budget”) in a manner and time frame in accordance with State law, but shall attempt to do so on or before the tenth day of November, next preceding each calendar year. A copy of the Annual Budget shall be filed with each Member and with the Division of Local Government within the Department of Local Affairs, State of Colorado.
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Related to Adoption of Annual Budget

  • Annual Budget (a) The Company and its Subsidiaries shall be operated in accordance with an annual budget, as it may be annually updated from time to time pursuant to this Section 3 (the “Annual Budget”). The initial Annual Budget for the period beginning on the Effective Date and ending on December 31, 2018, including the related variances, is attached hereto as Schedule B-1 (the “Initial Annual Budget”). For each Fiscal Year thereafter, the Asset Manager shall be responsible for preparing and submitting to the Company Board for approval as a Major Decision in accordance with the terms of the Company LLC Agreement a proposed updated Annual Budget, including the related variances. The Annual Budget shall be prepared by the Asset Manager in accordance with the protocols (including the preparation of the back-up materials on the timetable set forth therein) set forth on Schedule B-2 hereto (the “Budget Development Protocols”). The Annual Budget for each Fiscal Year shall be prepared with the same detail and line items as set forth in the Initial Annual Budget and such other detail as the members of the Company Board appointed by the Preferred Partners in accordance with Section 4.3(c) of the Parent LP Agreement (the “Preferred Board Members”) may reasonably request. In connection with the review of a proposed Annual Budget, the Preferred Board Members may reasonably request additional information regarding the materials supporting the proposed Annual Budget or such other information as is necessary or desirable to enable review of such proposed Annual Budget, and the Asset Manager shall provide such requested information. The Preferred Board Members shall consent to or reject the proposed Annual Budget, or request additional information (as provided for above), within ten (10) Business Days following (i) receipt of such proposed Annual Budget or (ii) receipt of all additional information that is, in the determination of the Preferred Board Members, necessary or desirable to enable review of such proposed Annual Budget. The Asset Manager shall comply with the Budget Development Protocols regarding the Preliminary Budget for each Fiscal Year. The Annual Budget shall be prepared and submitted annually by the Asset Manager no later than December 10, 2018 for the next Fiscal Year and thereafter by December 10 of each year with respect to the following Fiscal Year. The Annual Budget for each Fiscal Year shall include use of the pre-funded reserve amounts as shown on Schedule B-3 hereto for the four Fiscal Quarters comprising such Fiscal Year. In connection with the submission of the Annual Budget, the Asset Manager shall also prepare and submit to the Company Board an annual business plan for Parent and its Subsidiaries, including a responsible five-year operations forecast, including the operating metrics set forth on Schedule B-4 hereto (the “Annual Plan”). The Preferred Board Members, or their designated representatives, shall be provided reasonable access to all information, data, reports, models and analyses relied on in developing the Annual Plan (including, for the avoidance of doubt, all financial and silvicultural assumptions, constraints, supporting stand level data, merchantable timber volumes, pre-merchantable acres by species and age class, and acres by land classification).

  • Annual Budgets The School shall adopt a budget for each fiscal year, prior to the beginning of the fiscal year. The budget shall be in the Idaho Financial Accounting Reporting Management Systems (IFARMS) format and any other format as may be reasonably requested by the Authorizer.

  • Plan Year The year for the purposes of the plan shall be from September 1 of one year, to August 31, of the following year, or such other years as the parties may agree to.

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