Budgets and Financial Information. Management of the Company shall prepare and submit to the members of the Board:
(a) draft budgets for the Company and its subsidiaries (if any) for (i) the following Fiscal Year and (ii) the following three (3) Fiscal Years (on a rolling basis);
(b) as soon as available, the Financial Statements referred to in Section 4.6; and
(c) such further information as the Shareholders or the Board may from time to time reasonably require as to any and all matters relating to the business or financial condition of the Company or of any of its subsidiaries. Each of the draft budgets referred to in Section 4.7(a) above shall be approved by the Board, with such changes therein or modifications thereto as the Board shall deem necessary or appropriate, prior to the commencement of any operations by the Company's management with respect to such following Fiscal Years.
Budgets and Financial Information. Program area budgets and capital budgets shall be developed with the aid of proposals and consultation from the Faculty Members in that program area.
Budgets and Financial Information. The Company shall prepare and submit to the Board not less than two (2) months before the beginning of each Financial Year, a detailed draft operating budget for the Company (including estimated major items of revenue and capital expenditure) for the following Financial Year, detailed on a monthly basis and an accompanying cash-flow forecast, together with a balance sheet showing the projected position of the Company as at the end of the following Financial Year. Not less than one (1) month before the commencement of each Financial Year, the Board shall approve an operating budget, together with any other financial and investment plans, which, subject to any approved revisions, shall constitute the Annual Budget.
Budgets and Financial Information. (a) The DIP Lenders shall have received the Initial Budget, which Initial Budget shall be in form and substance satisfactory to the Required DIP Lenders in their sole discretion.
(b) Each of the DIP Lenders shall have received financial and other information reasonably requested by it.
Budgets and Financial Information. 14.1 Information to be prepared The Company shall prepare and submit to the Board and to the Shareholders for their approval the following information as soon as possible and no later than the dates/times set out below:
14.1.1 the unaudited results of the Company and all Group Companies for the previous financial year within 25 Business Days of the end of each financial year together with a reconciliation against management accounts;
14.1.2 audited accounts for the previous financial year within three months of the end of each financial year. The audited accounts of the Company shall be prepared in accordance with UK GAAP and with a US GAAP reconciliation.
14.1.3 a detailed draft Business Plan (including a budget setting out major items of revenue and capital expenditure) for the Company and the Group for the following financial year and a draft business plan for the Company and the Group on a rolling five year basis to be prepared two months before the end of each financial year. The Business Plan shall be broken down on a monthly basis, shall contain a cash flow forecast and a balance sheet showing the projected position of the Company and the Group as at the end of the following financial year;
14.1.4 monthly unaudited management accounts including:
(i) a detailed account, balance sheet and cash flow stateme
(ii) an analysis of income and other revenue;
(iii) a review of the budget contained within the Business Plan including a reconciliation of results with revenue and capital budgets;
Budgets and Financial Information. The DIP Lenders shall have received the Initial Budget as of the Closing Date, which Initial Budget shall be in form and substance satisfactory to the Required DIP Lenders; it being acknowledged and agreed that the budget set forth on Schedule 1 is in form and substance acceptable to the Required DIP Lenders as a “Budget” (as the same may be modified or superseded by a Proposed Budget).
Budgets and Financial Information. 42.01 Curriculum area budgets and capital budgets shall be developed with the aid of proposals and consultation from the Faculty Members in that curriculum area.
42.02 The Xxxx shall be responsible for seeking such input from Faculty Members within their respective curriculum area prior to the curriculum area budgets being submitted to the Institute Vice President, Finance and Administration Services.
42.03 The administrative supervisor shall be responsible for seeking such input from Librarians and Counsellors prior to the budgets being submitted to the Vice President, Finance and Administration Services.
42.04 The Institute agrees that in the interests of open administration it will make available all relevant and non-confidential financial information to representatives of the Faculty Association when requested to do so by a member of the Association’s Executive, or in any event prior to such time as budgets are submitted.
Budgets and Financial Information. Budgets and Capital Budgets shall be developed with the aid of proposals and consultation from the faculty members on continuing appointment in that division.
Budgets and Financial Information. 10.1 The Shareholders shall procure that the Board of Directors will prepare and deliver to them in the agreed format:
a) Prior to the commencement of each financial year, an annual budget and cash flow forecast for the next financial year;
b) Within 10 days of the end of each month, an audited management account (including comparisons against budget) made up to the end of each month;
c) Annual audited accounts of the Company within one month of the end of the financial year to which they relate;
d) As and when available, full details of any actual or prospective material change in the business or the financial position or affairs of the Company.
e) Follow GAAP accounting standards.
Budgets and Financial Information. The Directors and the Shareholders agree that the Board shall:
(a) supply XXXXXX on or before 1st October of each year with detailed revenue and capital budgets for the Company and its Subsidiaries (including estimated major items of revenue and capital expenditure) for the following calendar year, broken down on a monthly basis, and accompanying cash flow forecast, together with a balance sheet showing the projected position of the following calendar year and such additional statements and documents as deemed appropriate by XXXXXX;
(b) supply XXXXXX within 4 (four) days after the end of each calendar month, with monthly non-audited management accounts, such accounts to include a detailed profit and loss account, balance sheet and cash flow statement in a format prescribed by XXXXXX and a review of the budget together with a reconciliation of results with revenue and capital budgets for the corresponding month;
(c) supply XXXXXX with all the monthly and other periodical or occasional accounting reports and documents that are produced by the Company at the time when such reports and documents are drawn by or delivered to the management of the Company;
(d) supply XXXXXX with such documents, information or data on the financial or economic situation of the Company and of the Subsidiaries which are available and which XXXXXX may reasonably request within a reasonable period of time from the request of XXXXXX; and
(e) immediately inform XXXXXX of any technical, legal or administrative event which has already occurred or is threatened or likely to occur and which may materially prejudice the financial or economic situation of the Company and/or the Subsidiaries.
