Budgets and Business Plans. (a) On or before October 15th of each year during the term hereof, the applicable Designated Manager shall prepare and submit to the Members for Approval of the Members a proposed update to the Initial Business Plan and a proposed annual budget for the next calendar year.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Avalonbay Communities Inc), Limited Liability Company Agreement (Erp Operating LTD Partnership)
Budgets and Business Plans. (a) On or before October 15th of each year during the term hereof, the applicable Designated Manager shall prepare and submit to the Members for Approval of the Members a proposed update to the Initial Business Plan and a proposed annual budget for the next calendar year.year for each of the Archstone Residual Assets for which it has been appointed the Designated Manager
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Avalonbay Communities Inc), Limited Liability Company Agreement (Erp Operating LTD Partnership)
Budgets and Business Plans. (a) On or before October 15th of each year during the term hereof, the applicable Designated Administrative Manager shall prepare and submit to the Members for Approval of the Members a proposed update to the Initial Business Plan and a proposed annual budget Annual Budget for the next calendar year.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Avalonbay Communities Inc)
