Common use of Annual Operating Budget and Financial Projections Clause in Contracts

Annual Operating Budget and Financial Projections. Within [****] days after approval by Borrower’s Board of Directors (the “Board”), annual operating budgets (including income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borrower, and concurrent therewith annual financial projections for the following fiscal year (on a quarterly basis), together with any related business forecasts used in the preparation of such annual financial projections;

Annual Operating Budget and Financial Projections. Within [****] ninety (90) days after approval by the end of each fiscal year of Borrower’s Board of Directors , (the “Board”), i) annual operating budgets (including income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borrower, and concurrent therewith (ii) annual financial projections for the following fiscal year (on a quarterly basis)) as approved by Borrower’s board of directors, together with any related business forecasts used in the preparation of such annual financial projections;