Budgets and Financial Information Sample Clauses

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. The company shall prepare and submit to the Board of Directors 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. Each of the Shareholders shall be entitled to examine the books, records and accounts to be kept by the Company and each member of the Group and to be supplied with all information including monthly management accounts and operating statistics and other financial information in the agreed form and such other information as each Shareholder may reasonably require to keep it properly informed about the business and affairs of the Group.

Budgets and Financial Information. 24 16. Amendment..................................................................................24 17. Invalidity.................................................................................25 18. Waiver.....................................................................................25 19. Assignment.................................................................................25

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. 6.1 The Company shall prepare, or procure the preparation of, for approval by the Board, the following information no later than the date and times set out below (or such other dates and times as the Board may decide from time to time): 6.1.1 the unaudited results of the Company for the previous financial year, at the first Board meeting following the end of each financial year (being the Accounting Reference Date); 6.1.2 the audited accounts or audited consolidated returns of the Company for the previous financial year as soon as reasonably practicable after they are available and, in any event, no later than the Board meeting immediately prior to the date by which those accounts are due to be filed with UK Companies House; 6.1.3 an updated draft three-year Budget for the Company before the end of each financial year (including estimated major items of revenue and capital expenditure). The Budget shall be broken down on a quarterly basis, and shall contain a cash flow forecast and an income statement for the following financial year; 6.1.4 any updated Business Plan required by the Board, from time to time; 6.1.5 a report in respect of each financial year, on the Company’s implementation of its procedures designed to prevent any Associated Person from undertaking any conduct that would give rise to an offence by the Company under section 7(1) of the Bribery Act 2010 and the Company's compliance with and monitoring of such procedures, such report to be provided within 25 Business Days of the end of each financial year; and 6.1.6 such further information as the Board may reasonably require relating to the Business or financial condition of the Company. 6.2 The Board shall determine what if any amendments to the Budget and the updated Business Plan are required and, subject to these amendments being made, the draft Budget and draft Business Plan shall then be approved.

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 ▇▇▇▇ 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. 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 ▇▇▇▇ 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. 42.05 Without limiting the generality of the foregoing, the Institute will provide financial documents of public record and documentation relative to the preparation of budgets and discuss same with the representatives of the Faculty Association, when requested to do so by a member of the Association’s Executive.

Budgets and Financial Information. 13.1 The Shareholders shall procure that the Company will prepare and deliver to them in the agreed form and format: 13.1.1 Within fourteen (14) days of the end of each calendar month a financial statement and un-audited management accounts for the Company made up to and as at the end of the calendar month; 13.1.2 A report from the Board on the financial position and affairs of the Company within fourteen (14) days after the end of each calendar quarter; 13.1.3 Annual audited accounts of the Company within four months of the end of the financial year to which they relate, and 13.1.4 As soon as they are available, full details of any actual or prospective material change in the Business or the financial position or affairs of the Company. 13.2 The Shareholders shall procure that not later than thirty (30) days before the beginning of each financial year for the Company, the Board will prepare and deliver to them a proposed annual budget and cash flow forecast for the next financial year and such other information relating to the financial position and affairs of the Company as each Shareholder may from time to time reasonably require. 13.3 Within the thirty (30) day period referred to in Clause 13.2, the Shareholders shall approve subject to any amendments which they deem appropriate the annual budget for the Company's financial year and communicate the annual budget to the Board. 13.4 The Shareholders shall procure that the Board will review the annual budget during the course of each financial year of the Company. The Board may propose changes to the Shareholders to which the Shareholders shall respond within thirty (30) days of receipt of each proposal.