Annual Plan. On or before November 1 of each calendar year during the Term, Manager shall prepare and submit to Owner for its approval a proposed annual plan for the promotion, operation, leasing, repair and maintenance of the Project for each calendar year (the "Proposed Annual Plan"). For purposes of this Agreement, a "Fiscal Year" shall mean a calendar year beginning on the first day of January and ending on the last day of December. The Annual Plan for the remaining portion of Fiscal Year 2003 is attached hereto as Exhibit "A".
Annual Plan. For an Annual Plan, You may terminate any Schedule for any reason by following the termination procedure located within the Account section of the administrative control panel at any time. If such a termination is effective prior to the end of the then-current Term, You will incur a fee that is the lesser of (a) two (2) months of the Minimum Package Fee from the end of the calendar month following the requested termination date, as defined on Your then-current plan; and (b) the Minimum Package Fee for the remainder of the then-current Term. The “Minimum Package Fee” is the monthly charge for Your base package excluding any additional items that You have purchased along with such base package.
Annual Plan. On or before the date that is forty-five (45) days following the Commencement Date, Manager shall submit to Owner a proposed Annual Plan in Manager’s format for the remaining portion of the Fiscal Year in which the Commencement Date occurs and Owner and Manager shall cooperate to agree on the annual plan for the remainder of the Fiscal Year in which the Commencement Date occurs, which shall be the “Annual Plan” for such Fiscal Year. On or before December 1st of each year following the Commencement Date, Manager shall submit to Owner a proposed Annual Plan in Manager’s format for the next Fiscal Year. On or before December 15th of each year following the Commencement Date, Owner either shall accept the proposed Annual Plan submitted to Owner by Manager or shall submit to Manager a detailed list of Owner's objections or questions to the proposed Annual Plan ("Owner's Annual Plan Objections"). Within fifteen (15) days after Manager's receipt of Owner's Annual Plan Objections, Owner and Manager shall meet and discuss Owner's Annual Plan Objections with the goal of agreeing upon an Annual Plan for the subject Fiscal Year (the “Annual Plan”). Owner, as part of Owner's Annual Plan Objections, shall have the right to object to the entire proposed Annual Plan or to any specific item or items contained in the proposed Annual Plan. In the event Owner objects to the proposed Annual Plan or any specific item or items of expense in the proposed Annual Plan and Owner and Manager are unable to reach agreement thereon as provided above prior to commencement of the Fiscal Year in question, pending such agreement, the proposed Annual Plan or the specific item or items of expense (not revenue) in question shall be suspended and replaced for such period that the Annual Plan or such item(s) are in question by an amount equal to the lesser of (i) that proposed by Manager for such Fiscal Year, or (ii) if an objection to the entire Annual Plan, the Actual Gross Operating Expenses for the immediately preceding Fiscal Year subject to an adjustment equal to the percentage increase in the CPI over the last twelve (12) month period immediately preceding the start of the Fiscal Year in question, or (iii) if an objection to a specific item or items of expense in the Annual Plan, such item or items of expense for the immediately preceding Fiscal Year subject to an adjustment for each item equal to the percentage increase in the CPI over the twelve (12) month period immediately preceding t...
Annual Plan. The Board of Directors of the Company, acting in its sole discretion, shall annually, at the beginning of each fiscal year of the Company, approve an annual incentive plan (the "Annual Incentive Plan") for Employee, which Plan shall contain such terms and provisions as the Board of Directors shall determine. Any amounts payable to Employee pursuant to the Annual Incentive Plan is hereinafter referred to as "Incentive Pay".
Annual Plan. (a) Seller shall on the date hereof and prior to September 1 of each Calendar Year during the Term, complete and submit to Buyer a written delivery plan with respect to the Products to be made available for purchase by Buyer during the next Calendar Year (the “Annual Plan”). Said Annual Plan shall include estimates of delivery of the Products by Delivery Distances, month and accumulated into estimated quarterly deliveries. The Annual Plan shall set forth the quantity of Products Seller intends to make available to Buyer during the next Calendar Year, said quantities to be subject to the terms of Article III.
(b) Subject to Seller’s obligation to offer at least the minimum volumes required to be offered to Buyer pursuant to Section 3.1 below (the “Minimum Volumes”): (i) all Pulpwood volumes projected to be harvested from the Timberlands in the applicable Calendar Year shall be made available in said Annual Plan for Calendar Years 2006 through 2010; (ii) ninety percent (90%) of all Pulpwood volumes projected to be harvested from the Timberlands in the applicable Calendar Year shall be made available in said Annual Plan for Calendar Years 2011 through 2013; and (iii) eighty-five percent (85%) of all Pulpwood volumes projected to be harvested from the Timberlands in the applicable Calendar Year shall be made available in said Annual Plan for Calendar Years 2014 through 2016, and, if the Term is extended pursuant to Section 5.2 below, for Calendar Years 2017 through 2019.
(c) Buyer shall within 30 days of receipt of said Annual Plan confirm with Seller the volumes of the Products Buyer agrees to purchase from Seller during the next Calendar Year; provided, however, that unless Seller agrees otherwise, Buyer must agree to purchase at least ninety percent (90%) of the volumes set forth in the Annual Plan. Said agreed upon volumes shall then become in the aggregate the “Annual Volumes” Buyer agrees to purchase and Seller agrees to deliver in the next Calendar Year.
(d) Following adoption of each Annual Plan (or as adjusted according to Section 2.3(c) above), the parties shall act in good faith and each use their respective commercially reasonable efforts to implement such Annual Plan in accordance with its terms. Products shall be delivered throughout the Calendar Year in accordance with the Annual Plan for such year; provided, however, that during any Calendar Year, Seller may vary its deliveries, and Buyer may vary its purchases of Products, subject to Section 4...
Annual Plan. The management of the Company shall establish annually an operating plan and budget for the Company (the “Annual Plan”), which shall be approved by the Board of Directors.
Annual Plan. The Board of Directors shall adopt no later than the thirty-first day of each fiscal year, a financial plan for the Company, which shall include at least a projection of income and expenses (including capital expenditures) and a projected cash flows statement for each quarter in such fiscal year, and a projected balance sheet as of the end of each month in such fiscal year (the "Annual Plan"). The Annual Plan may only be amended or revised, in any material manner, with the approval of the Board of Directors.
Annual Plan. (a) The Parties acknowledge and agree that each Annual Plan sets out indicative information only and VicForests provides no warranties or guarantees as to the accuracy of the information or the area or quantities indicated by an Annual Plan.
(b) Subject to paragraph (a) above, VicForests shall use its reasonable endeavours so far as is reasonably practicable to ensure that the quantity of Timber included in an Annual Plan is substantially the same as the relevant Annual Supply Level.
(c) Notwithstanding paragraphs (a) and (b) above but subject to clause 15, VicForests shall include in an Annual Plan a quantity of Timber in respect of which the Contractor is to provide Harvest Services that is at least 80% of the Annual Supply Level for that Contract Year.
(d) If VicForests requires the Contractor to provide Services outside the Supply Zones, the Parties shall negotiate in good faith to reach agreement on any reimbursements to be paid by VicForests to the Contractor. These may include:
(i) costs in accordance with relocating Equipment outside the Supply Zone; and
(ii) other costs associated with providing Services outside the Supply Zones such as camping costs. Reimbursements may be paid through the addition of a unit rate add on to the Rates.
(e) If the Parties are unable to reach agreement on payments to be made under clause 3.1(d), the matter may be referred by either Party for resolution in accordance with clause 19. In this case, the matters set out in paragraphs 3.1(d)(i) and (ii) above shall form the basis of mediation, and if necessary, expert determination
(f) VicForests shall provide the Contractor with a copy of the initial Annual Plan at the Commencement Date for the purpose of the First Contract Year.
(g) VicForests shall provide the Contractor with a copy of the Annual Plan by the commencement of the Annual Harvest Period for each Contract Year other than for the First Contract Year.
(h) VicForests shall use its reasonable endeavours to consult with the Contractor in the preparation of the Annual Plan and if practicable, VicForests will incorporate the Contractor’s reasonable requirements having regard to:
(i) VicForests’ obligations to and requirements of VicForests’ customers;
(ii) VicForests’ obligations under other contracts and its commitments under such contracts;
(iii) sustainable forest management principles of VicForests; and
(iv) VicForests’ commercial interests.
Annual Plan. For an Annual Plan, You may terminate any Schedule for any reason by following the termination procedure located within the Account section of the administrative control panel at any time. If such a termination is effective prior to the end of the then-current Schedule Term, You will incur a fee that is equal to the lesser of (i) two (2) months of the Minimum Package Fee from the end of the calendar month during which such termination occurs; and (ii) the Minimum Package Fee for the remainder of the then- current Term. The “Minimum Package Fee” is the monthly charge for Your base package excluding any additional items that You have purchased along with such base package. The early termination fee is not a penalty. It is an estimate of liquidated damages suffered by Company as a result of Your early termination of the Services.
Annual Plan. The Annual Plan to be prepared by Manager and approved by Owner in accordance with the provisions of Section 6.2 hereof.
