Annual Budget and Program Sample Clauses

Annual Budget and Program. CDT shall prepare and deliver to Owner no later than November 1st of each year (except for the first full or partial Fiscal Year when CDT shall prepare and deliver to Owner no later than thirty (30) days after the Effective Date) for the following Fiscal Year: (a) an Annual Operating Budget, including revenues and operating expenses and labor burden (to include rates of pay, in- centive or commission structures) for each department of the Centers; a ▇▇▇▇▇▇▇- ▇▇▇▇ buying plan for the pro shops; a comparison to the annual operating budget for the immediately preceding year and a projection of anticipated monthly reve- nues and expenses and cash flows for the Centers for the following Fiscal Year, including, without limitation, a reasonable contingency and anticipated working capital requirements for the Centers for the year; (b) a recommended capital ex- penditures budget for the next Fiscal Year; (c) a Policies and Procedures Outline for the Centers, including, without limitation, operating policies, proposed hours of operation, policies related to complimentary court use by Owner’s representatives and employees, standards for operations and quality of service standards; (d) an Agronomic Plan including staffing assumptions, chemical and fertilization applica- tions including planned agronomic practices; (e) Marketing Plan as described in Paragraph 4(G) (collectively, the “Annual Budget and Program”). CDT and Owner shall use their mutual best efforts to agree upon the Annual Budget and Program for the following year on or before Fiscal Year end. Owner shall have the final approval and final decision-making authority over the Annual Budget and Program. Owner shall provide CDT written confirmation of its approval of the An- nual Budget and Program within thirty (30) days of CDT’s submission of the Annual Budget and Program to Owner. If the Owner does not provide the written confir- mation or rejection within the aforementioned thirty (30) day period, the Annual Budget and Program shall be deemed approved. Owner acknowledges that the financial and operational performance of the Cen- ters could be affected by circumstances or events beyond CDT’s control. CDT shall not be deemed to have made any guarantee, warranty, or representation with the Annual Budget and Program. Under no circumstances shall Owner have any claim or cause of action against CDT in the event that the financial goals, targets, and benchmarks established in the Annual Budget and Program are not ...