Business Plan and Budgets. (a) The General Partner shall submit the draft business plan for the operation of the Partnership Investments to the Limited Partners for approval no later than sixty (60) days after the First Closing Date. No later than December 15 of each Fiscal Year the General Partner shall submit to the Limited Partners for approval a revised and updated business plan for the period ending on the last day of the next succeeding Fiscal Year. The business plan shall include the following: ************************************************************************************************** ****************************************
Business Plan and Budgets adopting the Business Plan or Budget;
Business Plan and Budgets. (a) Prior to the date hereof, MGM has prepared and delivered to DW for its review and approval, (i) the Construction Budget, (ii) a pre-opening budget for the Project and (iii) a written, detailed business plan for the Project setting forth the proposed development, construction, management, financing, operation, leasing and/or sale plans for the Project. The business plan is incorporated herein by reference and has been jointly approved by the Members, as of the Signing Date, and together with the other components described in clauses (i), (ii) and (iii) shall be referred to herein as the “Initial Business Plan”. The Managing Member shall deliver, or cause to be delivered, to DW (I) on the Closing Date, (II) prior to the beginning of each Fiscal Year and at (III) such other times as determined by the Managing Member, an updated Business Plan for the Project, containing the components described in clauses (ii), (iii) and (iv) of this Section 7.9(a). Any modifications to the previously approved Business Plan shall be subject to the Approval of the Board of Directions to the extent required in accordance with Section 9.3 of this Agreement.
Business Plan and Budgets. Each Member shall also have the right to receive upon request copies of the annual operating and capital expenditure budget of the Company for any fiscal year as well as a copy of the currently approved Business Plans of the Company.
Business Plan and Budgets. (a) The General Partner will provide to the Limited Partners for informational purposes only a business plan for the operation of the Hotel Properties no later than sixty (60) days after the First Closing Date. No later than December 15 of each Fiscal Year the General Partner shall provide to the Limited Partners for informational purposes only a revised and updated business plan for the period ending on the last day of the next succeeding Fiscal Year. The business plan will include the following: ******** ******* *************** ******************** **************** **************** ***************** ******** **************************;
Business Plan and Budgets. (a) Within thirty (30) days of the Effective Date, the Managing Member shall prepare and deliver, or shall cause to be prepared and delivered, to IW for its review and approval, (i) the Construction Budget (only prior to the Completion Date), (ii) a pre-opening budget for the Project and (iii) a written, detailed business plan for the Project setting forth the proposed development, construction, management, financing, operation, leasing and sale plans for the Project (collectively, the “Project Business Plan”). The Managing Member shall deliver, or cause to be delivered, to IW (I) prior to the beginning of each Fiscal Year and (II) at such other times as determined by the Board of Directors, an updated business plan for the Project, containing the components described in clauses (i), (ii) and (iii) of this Section 7.8(a). Any modifications to the previously approved Project Business Plan shall be subject to the Approval of the Board of Directors in accordance with Section 9.3 hereof.
Business Plan and Budgets. 1.1 Adoption of the Business Plan and Budgets referred to in Clause 13 of the Agreement;
Business Plan and Budgets. The initial Business Plan for the Company is attached hereto as Exhibit A (the "Initial Business Plan"). The FGIC Member and the COPs Trust Members at the direction of the Majority of Holders hereby agree that the Initial Business Plan has been approved as a Major Decision pursuant to Section 4.5(a)(l). The Business Plan in effect at any time may be amended, modified or supplemented from time to time by the FGIC Member; provided, however, that any material amendment, modification or supplement to the Business Plan shall only be effective if approved as a Major Decision pursuant to Section 4.5(a)(2). The FGIC Member shall provide any such amended, modified or supplemented Business Plan to the COPs Trust Members (which Business Plan shall then replace the Business Plan in effect prior to such time).
Business Plan and Budgets. (a) Not later than Thirty (30) days prior to the commencement of each Fiscal Year, the Executive Committee, acting by majority vote of the EC Members, shall adopt a business plan and monthly and annual operating budgets for the Company, on both a consolidated end consolidating basis, in detail for the upcoming Fiscal Year, including capital and operating expense budgets, cash flow projections, covenant compliance calculations to the extent applicable of all outstanding and projected indebtedness, and profit and loss projections, all itemized in reasonable detail (the “Business Plan and Operating Budgets”). Acting by majority vote of the EC Members, the Executive Committee may amend the Business Plan and Operating Budgets when material changes occur and otherwise as it determines appropriate or necessary. If a majority of the Executive Committee is unable to agree on any of the matters provided for in this Section 7.07, such matter will be deemed a Deadlocked Issue and be determined by the Board of Managers pursuant to Section 7.05;
Business Plan and Budgets. 7.2 Without prejudice to the generality of clause 7.1, the Company shall supply each Member with copies of:
