Common use of Budget and Operating Forecast; Inspection Clause in Contracts

Budget and Operating Forecast; Inspection. (a) The Company will prepare and submit to the Board of Directors a budget for the Company for each fiscal year of the Company at least thirty (30) days prior to the beginning of such fiscal year. The budget shall be accepted as the budget for such fiscal year when it has been approved by a majority of the Board of Directors and, thereupon, a copy of such budget promptly shall be sent to each Investor. The Company shall review the budget periodically and shall advise the Board of Directors and the Investors of all material changes therein and all material deviations therefrom.

Budget and Operating Forecast; Inspection. (a) The Company will prepare and submit to the Board of Directors a budget for of the Company and the Investors an annual budget and plan for each fiscal year of the Company at least thirty (30) days prior to the beginning of such fiscal year, together with management's written discussion and analysis of such budget and plan. The budget shall be accepted as the budget for such fiscal year when it has been approved by a majority of the full Board of Directors and, thereupon, a copy of such budget promptly shall be sent to each Investorthe Company. The Company shall review the budget periodically and shall advise the Board of Directors and the Investors of all material changes therein and all material deviations therefrom.

Budget and Operating Forecast; Inspection. (a) The Company will prepare and submit to the Board of Directors of the Company a budget for the Company for each fiscal year of the Company at least thirty (30) days prior to the beginning of such fiscal year. The budget shall be accepted as the budget for such fiscal year when it has been approved by a majority of the Board of Directors of the Company and, thereupon, a copy of such budget promptly shall be sent to each Investor. The Company shall review the budget periodically and shall advise the Board of Directors and the Investors of all material changes therein and all material deviations therefrom.