Budgets and Budget Narratives Sample Clauses

Budgets and Budget Narratives. The Contractor shall submit Budgets and Budget Narratives to EOHHS as follows: 1. The Budget and Budget Narrative shall be in form and format specified by EOHHS; 2. The Contractor shall submit the Budget and Budget Narrative annually for each Performance Year, within 30 calendar days of EOHHS’ request, or as further specified by EOHHS; 3. The Contractor shall update and resubmit its Budget and Budget Narrative to EOHHS for approval upon any significant anticipated changes in the Contractor’s future activities or investments under its Budget and Budget Narrative as follows, or as otherwise requested by EOHHS: a. For any significant anticipated changes in the Contractor’s future activities or investments identified by the Contractor, the Contractor shall update and resubmit its Budget and Budget Narrative to EOHHS for approval, provided however that the Contractor may not request modification to its Budget and Budget Narrative within 75 calendar days of the end of the current Performance Year; b. For any significant anticipated changes in the Contractor’s future activities or investments identified by EOHHS, the Contractor shall submit its modified Budget and Budget Narrative to EOHHS for approval within 30 calendar days of EOHHS’ request, or as further specified by EOHHS; 4. The Budget shall show how the Contractor proposes to spend DSRIP payments for the Performance Year, and the Budget Narrative shall describe how this spending will support the Contractor’s DSRIP Participation Plan and the Contractor’s activities under this Contract; and 5. EOHHS may withhold the Contractor’s DSRIP payment until EOHHS approves the Contractor’s Budget and Budget Narrative for that Performance Year.
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Budgets and Budget Narratives. ‌ The Contractor shall submit Budgets and Budget Narratives to EOHHS as follows: THE BUDGET AND BUDGET NARRATIVE SHALL BE IN FORM AND FORMAT SPECIFIED BY EOHHS; THE CONTRACTOR SHALL SUBMIT THE BUDGET AND BUDGET NARRATIVE ANNUALLY FOR EACH PERFORMANCE YEAR, OR AT ANOTHER FREQUENCY SPECIFIED BY EOHHS AND WITHIN 30 CALENDAR DAYS OF EOHHS’ REQUEST, OR AS FURTHER SPECIFIED BY EOHHS; THE CONTRACTOR SHALL UPDATE AND RESUBMIT ITS BUDGET AND BUDGET NARRATIVE TO EOHHS FOR APPROVAL UPON ANY SIGNIFICANT ANTICIPATED CHANGES IN THE CONTRACTOR’S FUTURE ACTIVITIES OR INVESTMENTS UNDER ITS BUDGET AND BUDGET NARRATIVE AS FOLLOWS, OR AS OTHERWISE REQUESTED BY EOHHS: FOR ANY SIGNIFICANT ANTICIPATED CHANGES IN THE CONTRACTOR’S FUTURE ACTIVITIES OR INVESTMENTS IDENTIFIED BY THE CONTRACTOR, THE CONTRACTOR SHALL UPDATE AND RESUBMIT ITS BUDGET AND BUDGET NARRATIVE TO EOHHS FOR APPROVAL, PROVIDED HOWEVER THAT THE CONTRACTOR MAY NOT REQUEST MODIFICATION TO ITS BUDGET AND BUDGET NARRATIVE WITHIN 75 CALENDAR DAYS OF THE END OF THE CURRENT PERFORMANCE YEAR; FOR ANY SIGNIFICANT ANTICIPATED CHANGES IN THE CONTRACTOR’S FUTURE ACTIVITIES OR INVESTMENTS IDENTIFIED BY EOHHS, THE CONTRACTOR SHALL SUBMIT ITS MODIFIED BUDGET AND BUDGET NARRATIVE TO EOHHS FOR APPROVAL WITHIN 30 CALENDAR DAYS OF EOHHS’ REQUEST, OR AS FURTHER SPECIFIED BY EOHHS; THE BUDGET SHALL SHOW HOW THE CONTRACTOR PROPOSES TO SPEND DSRIP PAYMENTS FOR THE PERFORMANCE YEAR, AND THE BUDGET NARRATIVE SHALL DESCRIBE HOW THIS SPENDING WILL SUPPORT CONTRACTOR’S DSRIP PARTICIPATION PLAN AND THE CONTRACTOR’S ACTIVITIES UNDER THIS CONTRACT; AND EOHHS MAY WITHHOLD THE CONTRACTOR’S DSRIP PAYMENT UNTIL EOHHS APPROVES THE CONTRACTOR’S BUDGET AND BUDGET NARRATIVE FOR THAT PERFORMANCE YEAR; PROGRESS REPORTS‌ The Contractor shall submit Progress Reports to EOHHS as follows: THE PROGRESS REPORTS SHALL BE IN FORM AND FORMAT SPECIFIED BY EOHHS; THE CONTRACTOR SHALL SUBMIT THE PROGRESS REPORTS SEMIANNUALLY, OR AT ANOTHER FREQUENCY SPECIFIED BY EOHHS; THE PROGRESS REPORTS SHALL DESCRIBE THE CONTRACTOR’S ACTIVITIES UNDER THE CONTRACTOR’S DSRIP PARTICIPATION PLAN AND UNDER THIS CONTRACT, INCLUDING CHALLENGES, SUCCESSES, AND REQUESTED MODIFICATIONS TO THE PARTICIPATION PLAN AND OTHER INFORMATION, AS FURTHER SPECIFIED BY EOHHS; THE PROGRESS REPORTS SHALL INCLUDE A DESCRIPTION AND METRICS ON CONTRACTOR’S VALUE-BASED PAYMENTS FOR PARTICIPATING PCPS AS DESCRIBED IN SECTION 2.2.A.2, INCLUDING MEASURES SUCH AS THE PERCENT OF PARTICIPATING PCPS OPERATING UN...
Sample 1

Related to Budgets and Budget Narratives

  • Business Plan and Budget As soon as available, but in any event within sixty (60) 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 fiscal year basis and, in the case of such forecasted statements of income, on a fiscal quarterly basis for the immediately following fiscal year. As to any information contained in materials furnished pursuant to Section 6.02(f), the Borrower shall not be separately required to furnish such information under Section 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.

  • Budget Consulting Engineer/Architect shall advise City if, in its opinion, the amount budgeted for construction is not sufficient to adequately design and construct the improvement as requested.

  • Annual Work Plans and Budgets The Recipient shall furnish to the Association as soon as available, but in any case not later than September 1 of each year, the annual work plan and budget for the Project for each subsequent year of Project implementation, of such scope and detail as the Association shall have reasonably requested, except for the annual work plan and budget for the Project for the first year of Project implementation, which shall be furnished no later than one (1) month after the Effective Date.

  • Budgets Borrower shall have delivered, and Lender shall have approved, the Annual Budget for the current Fiscal Year.

  • Program Budget A) Contractor will expend funds received for operation of its program and services according to Contractor’s annual operating budget. The portions of said budget, which reflect services performed or money paid to Contractor pursuant to this Agreement shall be subject to the approval of the Human Services Agency. B) In the event Contractor determines a reasonable business necessity to transfer funding between personnel and operating expenses specified in the budget submitted to the Human Services Agency the following will apply: 1. Contractor will notify the Human Services Agency of transfers that in the aggregate are between ten percent (10%) and twenty percent (20%) of the maximum contract amount.

  • 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.

  • Business Plans As promptly as possible, but in no event later than July 15, 2010 (and, as applicable, with current information as of June 30, 2010) the Manager shall deliver to the Initial Member written plans (each, a “Business Plan”) detailing the strategy to be used by it in managing and disposing of the assets of the Company in respect of all of the Loans for achieving the Company’s purposes with respect thereto, in conformance with the Servicing Standard, based, to the extent appropriate, on information gathered by the Company with respect to the Loans, which shall include (i) individual Business Plans for each of the ten (10) largest Loans based on their Unpaid Principal Balance as of the Cut-Off Date (as set forth on the Loan Schedule), and (ii) a consolidated Business Plan covering all Loans (a “Consolidated Business Plan”). With respect to the first such Business Plans and Consolidated Business Plan, the Manager shall meet with the Initial Member as reasonably requested by the Initial Member from time to time during the thirty (30) Business Days following the Initial Member’s receipt of the same, to review and discuss such Business Plans and Consolidated Business Plan, including changes thereto suggested by the Initial Member. Within thirty (30) Business Days following expiration of such review period, the Manager will deliver to the Initial member a final version of such Business Plans and Consolidated Business Plan reflecting such changes as the Manager considers to be appropriate in light of its discussions with the Initial Member during such review period. The Manager shall thereafter review and revise each Business Plan and Consolidated Business Plan as the circumstances may require, and in any event provide periodic updates to such Business Plans (and for each such update, the same shall cover the ten (10) largest Loans based on their Unpaid Principal Balance as of the time of such update) and Consolidated Business Plan to the Initial Member, in January (current as of December 31 of the immediately preceding year) and July (current as of June 30 of such year) of each year, commencing in January 2011, with each such periodic update to de delivered as part of the Monthly Reports due at such time pursuant to Section 7.4(b), Upon reasonable notice by the Initial Member, the Company shall make its personnel who are familiar with such Business Plans and Consolidated Business Plans available during normal business hours for the purposes of discussing such Business Plans and Consolidated Business Plans with representatives of the Initial Member and responding to questions therefrom. (a) Each Business Plan and Consolidated Business Plan will set forth a strategy for the disposition of the Loans addressed thereby which strategy may consist of one or more of the following: (i) the pay-off of Loans at a discount; (ii) modifications of the related note and/or mortgage, including reductions in the mortgage loan interest rate, reductions in the principal balance and rescheduling principal payments; (iii) foreclosure upon the related Underlying Collateral (or acquisition thereof by deed in lieu of foreclosure) and subsequent sale thereof; (iv) assumptions of Loans by new borrowers; (v) repairs to and, if applicable, completion of construction of the related Underlying Collateral, with a view towards selling such Underlying Collateral or the Loan secured thereby; (vi) sale of a Loan, either singly or in pools, before or after restructuring; and (vii) any other method of work-out, rehabilitation and disposition consistent with the Servicing Standard and other general duties of the Company specified in this Agreement. (b) Each Business Plan and Consolidated Business Plan will set forth a strategy for the disposition of each related Acquired Property which strategy may consist of one or more of the following: (i) the sale or leasing of the Acquired Property in whole or in parts, or in pools; (ii) making repairs to and, if applicable, completion of construction the Acquired Property or making changes to the Acquired Property so that it may be used for uses other than its current use, with a view toward selling the Acquired Property; (iii) rehabilitation or improvement and, if applicable, completion of construction of the Acquired Property, with a view toward selling the Acquired Property; (iv) continued leasing or sales activity with respect to the Acquired Property available for leasing or sale (in whole or in part) at the time it is transferred to a Ownership Entity; and (v) maintenance, landscaping and general upkeep of the Acquired Property. (c) Each Business Plan or Consolidated Business Plan shall contain the Company's estimate of the present value of the net amount that is recoverable with respect to each related Loan and projected Working Capital Expenses with respect thereto, and, in reasonable detail, the manner of calculation of such estimates. The Consolidated Business Plan shall include projected financials including statements of income, assets, and cash flows for the Company. Such cash flow projections shall, for the Consolidated Business Plan and each update thereto, include an Excel model of projected cash flows by month, as of June 30 and December 31 of each year (or, in the case of the initial Consolidated Business Plan, as of the date of preparation and delivery thereof) and covering a period not less than the upcoming 6 months, including projected monthly cash inflows on the Loans and REO, projected Excess Working Capital Advances and/or Discretionary Funding Advances, projected outflows of Servicing Expenses, projected Funding Draws, projected Working Capital Reserve levels, projected net monthly cash available for deposit into the Defeasance Account, and the amount and allocation of any projected distributions to Initial Member and Private Owner.

  • Annual Operating Budget and Financial Projections Within sixty (60) days after the end of each fiscal year of Borrower Representative (and promptly and within five (5) days of any material modification thereto), an annual operating budgets, on a consolidating basis (including income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borrower Representative, as approved by Borrower Representative’s Board, together with any related business forecasts used in the preparation of such annual financial projections.

  • Business Plan The Lenders shall have received a satisfactory business plan for fiscal years 1999-2006 and a satisfactory written analysis of the business and prospects of the Borrower and its Subsidiaries for the period from the Closing Date through the final maturity of the Term Loans.

  • Budget Schedule Subrecipient agrees that the expenditures of any and all funds under this Contract will be in accordance with the Budget Schedule, a copy of which is attached hereto as Attachment C, and which by this reference is incorporated herein and made a part hereof as if fully set forth.

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