ANNUAL OPERATING AGREEMENT Clause Samples
The Annual Operating Agreement clause establishes the requirement for parties to create and agree upon a detailed plan each year outlining the operational procedures, budgets, and responsibilities for the upcoming period. Typically, this involves both parties reviewing past performance, forecasting future needs, and setting specific targets or resource allocations for the year ahead. By formalizing these expectations annually, the clause ensures ongoing alignment between parties, facilitates proactive management, and helps prevent misunderstandings or disputes regarding operational matters.
ANNUAL OPERATING AGREEMENT. The Municipality and the Authority shall enter into an Annual Operating Agreement prescribed by regulation made pursuant to the British Columbia Transit Act.
ANNUAL OPERATING AGREEMENT. The Operating Company covenants and agrees with BC Transit to perform each and every one of the conditions, terms, covenants and provisos contained in the Annual Operating Agreement, which on the part of the Operating Company are to be observed and performed.
ANNUAL OPERATING AGREEMENT. The annual operating agreement shall include provisions respecting the following matters:
ANNUAL OPERATING AGREEMENT. 5.1 The parties shall on an annual basis execute an operating agreement governing scheduling of the parties’ respective year-round uses of the Howelsen Hill Ski Area, pricing for season and other Howelsen Hill Ski Area passes, planning for snowmaking, grooming, and other operations, the costs of services to be charged by the City, allocating the funds anticipated to be available for use at the Howelsen Hill Ski Area, and other operations issues. The parties shall also discuss joint fundraising and potential capital projects / campaigns relating to potential improvements at Howelsen Hill Ski Area and shall work together where appropriate to secure grant funding for relevant projects. The City shall consult with the Club regarding pricing, cost of services, and allocation of funds, but the City shall retain final decision making authority regarding those issues. Discussions regarding the annual operating agreement shall commence between the City Parks, Open Space, and Recreational Services Department and Club representatives no later than May 15 each year and be concluded by June 15 of each year. During that time, the Club will present a proposed event schedule for the coming year. The City acknowledges that the Club may not have a final list of winter athletic events until September 1st and agrees to work with the Club in good faith to accommodate athletic events that have not been identified until after May 15. If the parties’ representatives are unable to agree on a schedule, the matter shall be referred for final resolution to the City Council.
5.2 The Club shall identify its event schedule to the extent the schedule is known to the Club. The parties acknowledge that scheduling of year-round sports events is subject to weather conditions and other circumstances outside the control of the parties. The parties shall use their best efforts to accommodate adjustments to the event schedule.
ANNUAL OPERATING AGREEMENT. Subsequent to approval of funding, the Annual Operating Agreement will be consummated reflecting positions to be funded, service standards, and funding amounts for the term. The term of the agreement will be October 1, 2011 through September 30, 2012. This agreement will continue to be reviewed and updated annually for the ten year term of the Basic Affiliation Agreement. The Annual Operating Agreement will specify the following: