Budget Matters Sample Clauses

Budget Matters. The Board of Directors, including the Preferred Director Majority, shall approve a comprehensive operating budget forecasting the Company’s revenues, expenses, capital expenditures and cash position on a month-to-month basis for the upcoming fiscal year prior to the end of each fiscal year.

Budget Matters. 1. Chromatics and ▇▇▇▇▇▇ will each contribute $37,500.00 (the "Initial Payment") to the Budget on the date which is 30 days prior to the date Chromatics reasonably anticipates delivering the Ship Notice (as notified in writing to ▇▇▇▇▇▇ by Chromatics), to jointly finance this Field Test. The Budget for the use of these funds including use of any sales income received from the Field Test is attached hereto as Exhibit B. Any sales income generated by the Field Test in excess of Field Test expenses in the Budget and reimbursement to be provided to the parties as set forth herein and pursuant to the Budget shall be shared equally by Chromatics and ▇▇▇▇▇▇. It is agreed by the parties that should there be less sales income than projected in the Budget or no sales income received from the Field Test to contribute to the Budget, then each of ▇▇▇▇▇▇ and Chromatics will pay, in equal amounts, up to $5,234 each (the "Additional Payment"). 2. In no event will either ▇▇▇▇▇▇ or Chromatics be responsible to pay an amount in excess of the sum of the Initial Payment and the Additional Payment unless mutually agreed upon in writing by both parties. ▇▇▇▇▇▇ shall be entitled to make payments from the Budget Account to third parties in the amounts specified as set forth in Exhibit D hereto ("Approved Payments"). Any payments from the Budget Account other than Approved Payments (including, without limitation, any payments to either ▇▇▇▇▇▇, Chromatics or their respective affiliates, other than (i) $8,650 to ▇▇▇▇▇▇ for initial inventory, (ii) $4,375 ▇ ▇ ▇▇▇▇▇▇ for the Custom Blended Foundation Cosmetic Product Dispensing Systems, (iii) $10,000 in 6 monthly installments of $1,667 to Chromatics for the Colormate II Systems, and (iv) $2,500 to Chromatics for repackaging the Colormate II Systems, which amounts shall be paid by ▇▇▇▇▇▇ without additional consent of Chromatics) shall require the consent of both parties.

Budget Matters. Borrower shall (i) (A) on or prior to the First Amendment Effective Date, deliver to Agent an operating budget in form, substance and methodology satisfactory to Agent, which shall reflect Borrower’s good faith projection of all cash receipts and disbursements on a week-by-week basis in connection with the operating of its business through October 31, 2012, (B) for each month (each a “Subject Month”) beginning with the month ending November 30, 2012 and continuing for each month ended thereafter, on or prior to the date that is ten (10) days prior to the beginning of such Subject Month, deliver to Agent an operating budget in form, substance and methodology satisfactory to Agent, which shall reflect Borrower’s good faith projection of all cash receipts and disbursements on a week-by-week basis in connection with the operating of its business for, and through the end of, the Subject Month (the budgets delivered pursuant to clauses (A) and (B) of this Section 4(c)(i) shall be collectively referred to as the “Budget”) and (C) on Monday of each week following the First Amendment Effective Date, deliver to Agent an expense report for the immediately preceding week along with a comparison against the budget amount of expenses for that week in accordance with the Budget, and (ii) during any given week, cause its expenditures to be in line with its Budget for such week in all material respects and, in furtherance of the foregoing, with respect to line items in the Budget in excess of $25,000, shall not make expenditures with respect to any line item on the Budget in excess of five percent (5.0%) (or such greater percentage as may be consented to in writing in advance by Agent in its sole discretion (the determination of whether Agent is willing to grant such consent not to be unreasonably delayed)) of the amount set forth on the Budget for such expenditure.

Budget Matters. Section 4 of the First Amendment is hereby modified by deleting clause (c)(i)(C) of such section in its entirety and substituting in lieu thereof the following new clause (c)(i)(C) to read in its entirety as follows:

Budget Matters. (a) TVGN and Lions Gate have prepared and agreed upon the projected expenditure schedules and a projected profit and loss statement for the Company through the calendar year ending December 31, 2009 (the “Initial Budget”), which is attached as Schedule 8.1 hereto. The Initial Budget, among other things, includes a schedule setting forth any additional funding requirements that will be required from the Members to fund the ongoing operations of the Company (which may be funded, at the election of an Investment Member, out of reinvestments of Available Cash distributable to such Investment Member during the period covered by the Initial Budget), including identified business expansion expenditures or acquisition expenditures through the calendar year ending on December 31, 2009. Not later than November 1, 2009, and beginning with the Fiscal Year ending March 31, 2011, and for each subsequent Fiscal Year, not later than 60 days prior to the beginning of such Fiscal Year, the Company shall prepare and submit to the Board of Managers for approval projected expenditure schedules and a projected profit and loss statement for such Fiscal Year (each, an “Annual Budget”), which the Board of Managers shall consider and vote upon in accordance with Section 5.6(a) not later than 30 days prior to the beginning of such Fiscal Year. The parties acknowledge that the Annual Budget for the Fiscal Year ending March 31, 2011 will be a 15 month budget and the Board of Managers will consider such budget not later than December 1, 2009. Each Annual Budget shall be in a form substantially similar to the Initial Budget. The Initial Budget and any subsequent approved Annual Budget are referred to as an “Approved Budget”. The amount of any additional funding requirements, if any, set forth in an Approved Budget as being requested of the Investment Members with respect to their Investment Units to fund the ongoing operations of the Company and any anticipated business expansion or acquisitions is referred to as the “Approved Funding Requirements”. (b) In the event the Board of Managers does not approve a proposed Annual Budget for a Fiscal Year prior to the first day of such Fiscal Year, the CEO of LGEC and a managing director of TVGN shall negotiate for a period of 10 Business Days to endeavor to agree upon an Approved Budget. If, as a result of such negotiations, no Approved Budget is approved, Lions Gate and TVGN shall attempt to agree upon a Third Party arbitrator experienced in t...

Budget Matters. (1) In addition to the budgetary authorities and responsibilities provided to the Director by statute, [former] 21 U.S.C. 1502, for those agency budget requests that are not certified as adequate to implement the objectives of the National Drug Control Strategy, the Director shall include in such certifications initiatives or funding levels that would make such requests adequate. (2) The Director shall provide, by July 1 of each year, budget recommendations to the heads of departments and agencies with responsibilities under the National Drug Control Program. The recommendations shall apply to the second following fiscal year and address funding priorities developed in the annual National Drug Control Strategy.

Budget Matters. (a) Initial Integrated Budget Limitations. [***].

Budget Matters. The making of any payments or the incurrence of expenses (individually or in the aggregate) on any line item in excess of 10% of the weekly budgeted amount for such line item listed in the Approved Budget for the relevant week, which is not cured within 5 days. For removal of any doubt, all expenses previously budgeted in prior periods for a particular line item may be paid in any future period on a line item by line item basis; or