Annual Financial Plan Sample Clauses

Annual Financial Plan. Within thirty (30) days after the end of the fiscal year, the Company shall provide each Information Rights Holder with the Company’s annual financial plan for the next fiscal year as approved by the Company’s Board of Directors.
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Annual Financial Plan. Following such annual project review, the Authority will prepare a detailed Financial Plan for each capital project agreed upon, including all costs associated with the planning, design, engineering, construction, administration and debt service for the project.
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Annual Financial Plan. When used in these By-Laws, the term "Annual Financial Plan" shall mean an annual financial plan, which shall be approved by the Board of Directors not later than the last day of the preceding fiscal year (or at such later time determined by the Board pursuant to Section 2.1).
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Annual Financial Plan. (a) On or before sixty (60) days after the Effective Date, Operator shalldeliver to Owner a proposed Annual Financial Plan (excluding a Capital Budget) for the period between the Effective Date and December 31, 2007 for Owner’s approval. Pending Owner’s approval of the proposed Annual Financial Plan for that period, Operator shall operate the Hotel based upon budgeted expenses consistent with the historical practices for the Hotel, as required by the Franchise Agreement, or as otherwise directed by Owner. On or before November 1st of each Fiscal Year thereafter commencing November 1, 2007, Operator shall submit to Owner for its approval a proposed Annual Financial Plan (“AFP”) consisting of an Annual Operating Budget, Capital Budget, Marketing Plan and Management Plan as set forth hereunder, including the information described on Exhibit F attached to and made a part of this Agreement. Owner’s approval may be withheld in its sole and absolute discretion. On or before December 1 of each year commencing December 1, 2007 or thirty (30) days after receipt of the proposed AFP, whichever is later, Operator shall at the request of Owner consult with Owner and meet withOwner if necessary (either members of the Executive Staff or corporate executives of Operator or both, as deemed appropriate by Owner), and Owner either shall accept the AFP submitted to Owner as provided above or shall submit to Operator a detailed list of Owner’s objections or questions to the AFP (“Owner’s AFP Objections”). Within fifteen (15) days after Operator’s receipt of Owner’s AFP Objections, Owner and Operator shall meet and discuss Owner’s AFP Objections with the goal of agreeing upon an AFP for the subject Fiscal Year. If Owner objects to any specific item of expense in the AFP and Owner and Operator are unable to reach agreement thereon as provided above prior to commencement of the Fiscal Year in question, pending such agreement, unless Owner otherwise determines, the AFP or the specific item or items of expense (not revenue) in question shall be suspended, and except as to Capital Budget items which shall be suspended until approved by Owner in its sole and absolute discretion, be replaced for such period that the AFP or such item is in question by an amount equal to the greater of (a) one hundred and five percent (105%) of the amount for such actual item of expense in the immediately preceding Fiscal Year, or (b) such actual items of expense for the immediately preceding Fiscal Year...
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Annual Financial Plan. (1) Avis will provide WizCom, no later than September 30th of each year, Avis's projected volume of transactions and system development budget, together with preliminary priorities for system development projects, for the next succeeding calendar year (each such calendar year, a "Planning Period"), and shall reply within five (5) days to WizCom's request for additional information regarding such projections, in order to assist WizCom in developing an annual financial plan (the "Financial Plan") reflecting the projections for costs for the Services for Avis for such Planning Period. Avis acknowledges that WizCom will be making decisions regarding required staffing levels (the "Staffing Plan") based on the information provided by Avis and the final Financial Plan; therefore, any required replacements and/or reductions of personnel from such Staffing Plan which are requested after the commencement of the Planning Period must be submitted in writing and approved by WizCom. In the event Avis's projections for system development services for a Planning Period result in a reduction of more than twenty percent (20%) in the estimated number of person hours of system development services to be performed on behalf of Avis by WizCom as compared to the immediately preceding Planning Period, or if Avis does not, in fact, utilize in any Planning Period at least eighty percent (80%) of the person hours for system development services utilized in the preceding Planning Period, then WizCom shall be entitled to charge as a cost hereunder costs incurred in connection with reductions in staff (including, but not limited to, severance, benefits and other termination costs) resulting from such reduction in system development services commitment usage from Avis; provided that WizCom shall use reasonable good faith efforts to limit such costs through utilization of staff, where possible, to provide services to other WizCom customers.
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Annual Financial Plan. Within thirty (30) days following the execution of this Agreement, each Party will prepare an annual financial plan (the "Annual Financial Plan") with respect to the development activity contemplated by this Agreement. Each Annual Financial Plan shall identify all expenditures that such Party proposes will constitute Qualifying Expenditures during the year covered by such plan, which expenditures will be subject to the review and approval of the other Party. The Parties shall update the Annual Financial Plan at least annually during Phase I and Phase II not less than thirty (30) days prior to the end of each year. Any failure to agree on the Annual Financial Plan, or any proposed modification thereto, shall be resolved in accordance with the procedures set forth in Section 23.
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Annual Financial Plan. (1) VMS will provide Cendant in a format that is reasonably acceptable to Cendant and VMS, no later than August 30th of each year, VMS's projected volume of transactions for the next succeeding calendar year (each such calendar year, a "Planning Period"), and shall reply within ten (10) days to Cendant's request for additional information regarding such projections, in order to assist Cendant in developing an annual financial plan (the "Financial Plan") reflecting the projections for costs for the Services for VMS for such Planning Period. VMS acknowledges that Cendant will be making decisions regarding required staffing levels (the "Staffing Plan") based on the information provided by VMS and the final Financial Plan; therefore, any required replacements and/or reductions of personnel from such Staffing Plan which are requested after the commencement of the Planning Period must be submitted in writing and approved by Cendant.
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Related to Annual Financial Plan

  • Annual Financials As soon as available and in any event within 90 days after the end of each Fiscal Year, a copy of the annual audit report for such year for the Parent Guarantor and its Consolidated Subsidiaries, including therein Consolidated and consolidating balance sheets of the Parent Guarantor and its Subsidiaries as of the end of such Fiscal Year and Consolidated and consolidating statements of income and a Consolidated and consolidating statement of cash flows of the Parent Guarantor and its Subsidiaries for such Fiscal Year (it being acknowledged that a copy of the annual audit report filed by the Parent Guarantor with the Securities and Exchange Commission shall satisfy the foregoing requirements), in each case accompanied by (x) an unqualified opinion acceptable to the Required Lenders of KPMG LLP, Ernst & Young LLP or other independent public accountants of recognized standing reasonably acceptable to the Administrative Agent, and (y) a report of such independent public accountants as to the Borrower’s internal controls required under Section 404 of the Xxxxxxxx-Xxxxx Act of 2002, but only to the extent the Borrower is subject to Section 404, in each case certified in a manner to which the Required Lenders have not objected, together with (i) a schedule in form reasonably satisfactory to the Administrative Agent of the computations used by such accountants in determining, as of the end of such Fiscal Year, compliance with the covenants contained in Section 5.04, provided that in the event of any change in GAAP used in the preparation of such financial statements, the Parent Guarantor shall also provide, if necessary for the determination of compliance with Section 5.04, a statement of reconciliation conforming such financial statements to GAAP and (ii) a certificate of the Chief Financial Officer (or other Responsible Officer) of the Parent Guarantor stating that no Default has occurred and is continuing or, if a Default has occurred and is continuing, a statement as to the nature thereof and the action that the Parent Guarantor has taken and proposes to take with respect thereto.

  • Financial Plan As soon as practicable and in any event no later than 90 days after the beginning of each Fiscal Year, a monthly consolidated and consolidating plan and financial forecast for such Fiscal Year (a “Financial Plan”), including a forecasted consolidated balance sheet and forecasted consolidated and consolidating statements of income and consolidated statement of cash flows of Holdings and its Subsidiaries for such Fiscal Year, together with pro forma Compliance Certificates for each such Fiscal Year and an explanation of the assumptions on which such forecasts are based;

  • Financial Plans as soon as practicable and in any event no later than 45 days after the beginning of each Fiscal Year, a consolidated plan and financial forecast for such Fiscal Year (the “Financial Plan” for such Fiscal Year), including (a) a forecasted consolidated balance sheet and forecasted consolidated statements of income and cash flows of Holdings and its Subsidiaries for such Fiscal Year and (b) forecasted consolidated statements of income and cash flows of Holdings and its Subsidiaries for each Fiscal Quarter of such Fiscal Year, together with an explanation of the assumptions on which such forecasts are based;

  • Annual Financial Statement As soon as available, and in any event within ninety (90) days after and as of the close of each fiscal year of Borrower, a consolidated report of audit of Company, all in reasonable detail, audited by an independent certified public accountant selected by Borrower and reasonably acceptable to Bank, in accordance with generally accepted accounting principles on a basis consistently maintained by Borrower and certified by an appropriate officer of Borrower;

  • Annual Financial Statements Within 90 days after the end of each Fiscal Year, commencing with the Fiscal Year ending December 31, 2011, (i) the consolidated balance sheets of Borrower and its Subsidiaries as at the end of such Fiscal Year and the related consolidated statements of income, stockholders’ equity and cash flows of Borrower and its Subsidiaries for such Fiscal Year, setting forth in each case in comparative form the corresponding figures for the previous Fiscal Year commencing with the first Fiscal Year for which such corresponding figures are available, all in reasonable detail, together with a Financial Officer Certification and a Narrative Report with respect thereto; and (ii) with respect to such consolidated financial statements a report thereon by an independent certified public accountant (or accountants) of recognized national standing selected by Borrower, and reasonably satisfactory to Administrative Agent (which report and/or the accompanying financial statements shall be unqualified as to going concern and scope of audit, and shall state that such consolidated financial statements fairly present, in all material respects, the consolidated financial position of Borrower and its Subsidiaries as at the dates indicated and the results of their operations and their cash flows for the periods indicated in conformity with GAAP applied on a basis consistent with prior years (except as otherwise disclosed in such financial statements) and that the examination by such accountants in connection with such consolidated financial statements has been made in accordance with generally accepted auditing standards) together with a written statement by such independent certified public accountants stating (1) that their audit examination has included a review of the terms of Section 6.7 of this Agreement and the related definitions, (2) whether, in connection therewith, any condition or event that constitutes a Default or an Event of Default under Section 6.7 has come to their attention and, if such a condition or event has come to their attention, specifying the nature and period of existence thereof, and (3) that nothing has come to their attention that causes them to believe that the information contained in any Compliance Certificate is not correct or that the matters set forth in such Compliance Certificate are not stated in accordance with the terms hereof (which statement may be limited to the extent required by accounting rules or guidelines);

  • Annual Financial Reports The Borrower shall provide, or shall cause to be provided, to the Administrative Agent, as soon as available, but in any event within 120 days after the end of each fiscal year of the Borrower (commencing with the fiscal year ended December 31, 2012), a consolidated balance sheet of the Borrower and its Subsidiaries as at the end of such fiscal year, and the related consolidated statements of income or operations, partners’ equity and cash flows for such fiscal year, setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail and prepared in accordance with GAAP, such consolidated statements to be audited and accompanied by a report and opinion of an independent certified public accountant of nationally recognized standing reasonably acceptable to the Administrative Agent, which report and opinion shall be prepared in accordance with generally accepted auditing standards and shall not be subject to any “going concern” or like qualification or exception or any qualification or exception as to the scope of such audit, and such statements to be certified by the chief executive officer or chief financial officer of the Borrower, to the effect that (i) such statements fairly, in all material respects, present the financial condition, results of operations, partners’ equity and cash flows of the Borrower and its Subsidiaries in accordance with GAAP and (ii) there were no material contingent obligations, material unaccrued liabilities for taxes, material unusual forward or long-term commitments, or material unrealized or anticipated losses of the Borrower and its Subsidiaries, except as disclosed therein or as otherwise disclosed in writing to the Administrative Agent and adequate reserves for such items have been made in accordance with GAAP;

  • Financial Year End The financial year end of the Company may be determined by resolution of the Board and failing such resolution shall be 31st December in each year. AUDITS

  • Annual Operating Budget and Financial Projections Within sixty (60) days after the end of each fiscal year of Borrower Representative (and promptly and within five (5) days of any material modification thereto), an annual operating budgets, on a consolidating basis (including income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borrower Representative, as approved by Borrower Representative’s Board, together with any related business forecasts used in the preparation of such annual financial projections.

  • Financial Year Unless the Directors otherwise prescribe, the financial year of the Company shall end on 31st December in each year and, following the year of incorporation, shall begin on 1st January in each year.

  • Fiscal Year The fiscal year of the Partnership shall be the calendar year.

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