Common use of Annual Reporting Requirement Clause in Contracts

Annual Reporting Requirement. The parties agree that the fiscal year for the Foothill Golf Course shall be defined as the period from July 1st to June 30th. The parties further agree that not later than Thirty (30) Days prior to the beginning of each subsequent fiscal year, Lessee shall submit to Lessor for review and reasonable approval a proposed annual operating budget in a form reasonably acceptable to Lessor. At a minimum, Lessee’s proposed annual operating budget shall set forth Lessee’s estimate of the Foothill Golf Course income, operating expenses, and debt service for the coming fiscal year, and shall include a statement of reserves, proposed rent adjustments, and a year to date operating statement. Such operating budget shall show all anticipated income, debt service and expenses of management, operations, reserves and maintenance for each fiscal year or portion thereof following the Commencement Date. Lessee shall operate the Foothill Golf Course in accordance with the approved annual operating budget and the Lease..

Annual Reporting Requirement. The parties agree that the fiscal year for the Foothill Golf Course shall be defined as the period from July 1st to June 30th. The parties further agree that not later than Thirty (30) Days prior to the beginning of each subsequent fiscal year, Lessee shall submit to Lessor for review and reasonable approval a proposed annual operating budget in a form reasonably acceptable to Lessor. At a minimum, LesseeXxxxxx’s proposed annual operating budget shall set forth Lessee’s estimate of the Foothill Golf Course income, operating expenses, and debt service for the coming fiscal year, and shall include a statement of reserves, proposed rent adjustments, and a year to date operating statement. Such operating budget shall show all anticipated income, debt service and expenses of management, operations, reserves and maintenance for each fiscal year or portion thereof following the Commencement Date. Lessee shall operate the Foothill Golf Course in accordance with the approved annual operating budget and the Lease..

Annual Reporting Requirement. The parties agree that the fiscal year for the Foothill Golf Course shall be defined as the period from July 1st to June 30th. The parties further agree that not later than Thirty (30) Days prior to the beginning of each subsequent fiscal year, Lessee shall submit to Lessor for review and reasonable approval a proposed annual operating budget in a form reasonably acceptable to Lessor. At a minimum, LesseeXxxxxx’s proposed annual operating budget shall set forth Lessee’s estimate of the Foothill Golf Course income, operating expenses, and debt service for the coming fiscal year, and shall include a statement of reserves, proposed rent adjustments, and a year to year-to-date operating statement. Such operating budget shall show all anticipated income, debt service and expenses of management, operations, reserves and maintenance for each fiscal year or portion thereof following the Commencement Date. Lessee shall operate the Foothill Golf Course in accordance with the approved annual operating budget and the Lease...

Annual Reporting Requirement. The parties agree that the fiscal year for the Foothill Golf Course shall be defined as the period from July 1st to June 30th. The parties further agree that not later than Thirty (30) Days prior to the beginning of each subsequent fiscal year, Lessee shall submit to Lessor for review and reasonable approval a proposed annual operating budget in a form reasonably acceptable to Lessor. At a minimum, LesseeXxxxxx’s proposed annual operating budget shall set forth Lessee’s estimate of the Foothill Golf Course income, operating expenses, and debt service for the coming fiscal year, and shall include a statement of reserves, proposed rent adjustments, and a year to date operating statement. Such operating budget shall show all anticipated income, debt service and expenses of management, operations, reserves and maintenance for each fiscal year or portion thereof following the Commencement Date. Lessee shall operate the Foothill Golf Course in accordance with the approved annual operating budget and the Lease...