Annual Plan and Budgets Sample Clauses

Annual Plan and Budgets. Shurgard shall prepare and submit to the Company a Preliminary Plan and Budget and an Annual Plan and Budget in accordance with Clause 7.
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Annual Plan and Budgets. (a) Attached hereto as Exhibit F is an annual development plan and budget for Development Operations and Area-Wide Operations which the Parties currently anticipate to be conducted by the Party Operators through calendar year 2012 (as hereafter amended, modified or supplemented, the “Annual Plan and Budget”). Each Party Operator shall, with respect to its Operated Area, be responsible for conducting the Development Operations and Area-Wide Operations that are contemplated by, and in accordance with, the then applicable Annual Plan and Budget covering such Operated Area. The Joint Development Committee shall have the sole right to amend, modify and supplement any Annual Plan and Budget.
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Annual Plan and Budgets. 18 3.4 AFEs.................................................................................................................. 22 3.5 Non-Consent Years............................................................................................ 22
Sample 1
Annual Plan and Budgets. (a)Attached hereto as Exhibit F is an annual development plan and budget for Development Operations and Area-Wide Operations which the Parties currently anticipate to be conducted by the Party Operators through calendar year 2012 (as hereafter amended, modified or supplemented, the “Annual Plan and Budget”). Each Party Operator shall, with respect to its Operated Area, be responsible for conducting the Development Operations and Area-Wide Operations that are contemplated by, and in accordance with, the then applicable Annual Plan and Budget covering such Operated Area. The Joint Development Committee shall have the sole right to amend, modify and supplement any Annual Plan and Budget. (b)Other than with respect to calendar year 2011, on or before August 31 in the calendar year immediately preceding the relevant calendar year, each Party Operator shall, with respect to its Operated Area, prepare and submit to the Joint Development Committee that portion of a proposed Annual Plan and Budget for such relevant calendar year that pertains to such Operated Area. In preparing such portion of such proposed Annual Plan and Budget, each Party Operator shall prepare such Annual Plan and Budget in a manner consistent with the then current Development Plan for such relevant calendar year. Each such portion of such proposed Annual Plan and Budget submitted by a Party Operator shall contain at least the following with respect to the Operated Area of such Party Operator: (i)all Development Operations and Area-Wide Operations that are expected to be conducted by such Party Operator in its Operated Area during such calendar year; (ii)all lease maintenance costs and expenditures required under the terms of existing Leases or existing Third Party contracts held by a Party Operator for the benefit of Development Operations and Area-Wide Operations (including each Party's share thereof); (iii)itemized estimates of the Development Costs (including each Party's share thereof including Carried Costs, separately stated, in the case of Noble) for Development Operations and Area-Wide Operations covered by the proposed Annual Plan and Budget by budget category containing sufficient detail, if available, to afford the ready identification of the nature, scope and duration of the activity in question; 18 (iv)the number of xxxxx proposed to be drilled as part of the Development Operations and Area-Wide Operations during such calendar year, the areas for drilling groups of xxxxx and propo...
Sample 1
Annual Plan and Budgets. Shurgard shall prepare and submit to the Company a Preliminary Plan and Budget and an Annual Plan and Budget in accordance with Clause 7. Accounting, Records, and Reporting Shurgard shall establish, supervise, direct and maintain, at Shurgard's executive or local offices, full, true and correct books and records reflecting, on an accrual basis, all monies collected, paid out under this Agreement, reserved by Shurgard, or remitted to the Company (collectively, the "general ledger records"), in accordance with US GAAP. Shurgard shall also maintain at the applicable Property or at its executive offices receipted bills for all expenses paid by Shurgard for the benefit of the Company, leases and related documents and correspondence, material contracts, records of rental income and charges, warranties and all other documentation related to the development and operation of the Properties. All general ledger records, receipted bills, daily bank deposit records and supporting documentation and monthly customer data (including occupancy information, inventory report and accounts receivable status) shall be retained by Shurgard for at least the legally required time after the expiration or termination of this Agreement, and all other such books and records shall be retained for such period, if any, as is consistent with Shurgard's policies regarding record retention applicable to properties it manages for its own account, provided, further, that any such books and records that are material to the operation of any Property shall be retained for a minimum of one year even if Shurgard's policies would not otherwise require retention. Shurgard shall provide the Company with access to such records and the Company shall have the right to make copies of all such records. Shurgard shall, on behalf of the Company, cause to be prepared income tax and VAT returns and elections for the Properties and the Subsidiaries. Except as expressly provided in this Clause 4.11 and 4.16, Shurgard shall not be required to prepare any accounting information, provide assistance with respect to any tax audits, or provide other accounting services for the Company over and above the accounting, records and reporting which it carries out in respect of the Properties and the Subsidiaries on a regular basis under this Clause unless specifically agreed with the Company such agreement not to be unreasonably withheld, and with fair and reasonable compensation to be paid to Shurgard for such other matte...
Sample 1

Related to Annual Plan and Budgets

  • Business Plan and Budget As soon as available, but in any event no later than forty five (45) days after the end of each fiscal year of the Borrower, an annual business plan and budget of the Borrower and its Subsidiaries on a Consolidated basis, including forecasts prepared by management of the Borrower, in form reasonably satisfactory to the Lender, of Consolidated balance sheets and statements of income or operations and cash flows of the Borrower and its Subsidiaries on a quarterly basis for the then current fiscal year. As to any information contained in materials furnished pursuant to Section 6.02(d), the Borrower shall not be separately required to furnish such information under Sections 6.01(a) or (b) above, but the foregoing shall not be in derogation of the obligation of the Borrower to furnish the information and materials described in Sections 6.01(a) and (b) above at the times specified therein.

  • Annual Business Plan and Budget As soon as practicable and in any event not later than thirty (30) days after the end of each Fiscal Year, a business plan and operating and capital budget of the Borrower and its Subsidiaries for the ensuing four (4) fiscal quarters, such plan to be prepared in accordance with GAAP and to include, on a quarterly basis, the following: a quarterly operating and capital budget, a projected income statement, statement of cash flows and balance sheet, calculations demonstrating projected compliance with the financial covenants set forth in Section 9.15 and a report containing management’s discussion and analysis of such budget with a reasonable disclosure of the key assumptions and drivers with respect to such budget, accompanied by a certificate from a Responsible Officer of the Borrower to the effect that such budget contains good faith estimates (utilizing assumptions believed to be reasonable at the time of delivery of such budget) of the financial condition and operations of the Borrower and its Subsidiaries for such period.

  • Annual Budgets The School shall adopt a budget for each fiscal year, prior to the beginning of the fiscal year. The budget shall be in the Idaho Financial Accounting Reporting Management Systems (IFARMS) format and any other format as may be reasonably requested by the Authorizer.

  • Development Budget Attached hereto as Exhibit "B" and incorporated herein by this reference is the Development Budget in an amount equal to $_____________. Owner acknowledges and represents that the attached Development Budget includes the total costs and expenses to acquire, develop, renovate and construct the Real Property and the Apartment Housing.

  • Budget The System Agency allocated share by State Fiscal Year is as follows:

  • 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".

  • Operating Budgets Manager has submitted to Owner, for Owner's ----------------- approval, a proposed operating budget for the ensuing partial fiscal year ("Operating Budget"). Hereafter, Manager shall, not less than forty-five (45) days prior to the commencement of each full fiscal year, submit to Owner, for Owner's approval, a proposed Operating Budget for the ensuing full or partial fiscal year, as the case may be. Each Operating Budget shall be accompanied by, and shall include, a business plan which shall describe business objectives and strategies for the period covered by the Operating Budget. The business plan shall include, without limitation, an analysis of the market area in which the Hotel competes, a comparison of the Hotel and its business with competitive hotels, an analysis of categories of potential guests, and a description of sales and marketing activities designed to achieve and implement identified objectives and strategies. Fee Owner shall have no right to approve any Operating Budget. Owner's approval of the Operating Budget shall not be unreasonably withheld and shall be deemed given unless a specific written objection thereto is delivered by Owner to Manager within fifteen (15) days after submission. Owner shall review the Operating Budget on a line-by-line basis. To be effective, any notice which disapproves a proposed Operating Budget must contain specific objections in reasonable detail to individual line items. If the initial Operating Budget contains disputed budget item(s), said item(s) shall be deemed adopted until Owner and Manager have resolved the item(s) objected to by Owner or the Accountant(s) (hereinafter defined in Section 10.02) have resolved the item(s) objected to by Owner. Thereafter, if Owner disapproves or raises objections to a proposed Operating Budget in the manner and within the time period provided therefor, and Owner and Manager are unable to resolve the disputed or objectionable matters submitted by Owner prior to the commencement of the applicable fiscal year, the undisputed portions of the proposed Operating Budget shall be deemed to be adopted and approved and the corresponding line item contained in the Operating Budget for the preceding fiscal year shall be adjusted as set forth herein and shall be substituted in lieu of the disputed items in the proposed Operating Budget. Those line items which are in dispute shall be determined by increasing the preceding fiscal year's corresponding line items by an amount determined by Manager which does not exceed the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the United States Department of Labor, U.S. City Average, all items (1984-1986=100) for the fiscal year prior to the fiscal year with respect to which the adjustment to the line item is being calculated or any successor or replacement index thereto. The resulting Operating Budget obtained in accordance with the preceding sentence shall be deemed to be the Operating Budget in effect until such time as Manager and Owner have resolved the items objected to by Owner.

  • Development Plan document specifying the work program, schedule, and relevant investments required for the Development and the Production of a Discovery or set of Discoveries of Oil and Gas in the Contract Area, including its abandonment.

  • Annual Budget (a) The Company and its Subsidiaries shall be operated in accordance with an annual budget, as it may be annually updated from time to time pursuant to this Section 3 (the “Annual Budget”). The initial Annual Budget for the period beginning on the Effective Date and ending on December 31, 2018, including the related variances, is attached hereto as Schedule B-1 (the “Initial Annual Budget”). For each Fiscal Year thereafter, the Asset Manager shall be responsible for preparing and submitting to the Company Board for approval as a Major Decision in accordance with the terms of the Company LLC Agreement a proposed updated Annual Budget, including the related variances. The Annual Budget shall be prepared by the Asset Manager in accordance with the protocols (including the preparation of the back-up materials on the timetable set forth therein) set forth on Schedule B-2 hereto (the “Budget Development Protocols”). The Annual Budget for each Fiscal Year shall be prepared with the same detail and line items as set forth in the Initial Annual Budget and such other detail as the members of the Company Board appointed by the Preferred Partners in accordance with Section 4.3(c) of the Parent LP Agreement (the “Preferred Board Members”) may reasonably request. In connection with the review of a proposed Annual Budget, the Preferred Board Members may reasonably request additional information regarding the materials supporting the proposed Annual Budget or such other information as is necessary or desirable to enable review of such proposed Annual Budget, and the Asset Manager shall provide such requested information. The Preferred Board Members shall consent to or reject the proposed Annual Budget, or request additional information (as provided for above), within ten (10) Business Days following (i) receipt of such proposed Annual Budget or (ii) receipt of all additional information that is, in the determination of the Preferred Board Members, necessary or desirable to enable review of such proposed Annual Budget. The Asset Manager shall comply with the Budget Development Protocols regarding the Preliminary Budget for each Fiscal Year. The Annual Budget shall be prepared and submitted annually by the Asset Manager no later than December 10, 2018 for the next Fiscal Year and thereafter by December 10 of each year with respect to the following Fiscal Year. The Annual Budget for each Fiscal Year shall include use of the pre-funded reserve amounts as shown on Schedule B-3 hereto for the four Fiscal Quarters comprising such Fiscal Year. In connection with the submission of the Annual Budget, the Asset Manager shall also prepare and submit to the Company Board an annual business plan for Parent and its Subsidiaries, including a responsible five-year operations forecast, including the operating metrics set forth on Schedule B-4 hereto (the “Annual Plan”). The Preferred Board Members, or their designated representatives, shall be provided reasonable access to all information, data, reports, models and analyses relied on in developing the Annual Plan (including, for the avoidance of doubt, all financial and silvicultural assumptions, constraints, supporting stand level data, merchantable timber volumes, pre-merchantable acres by species and age class, and acres by land classification).

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