Business Plans and Budgets. At least thirty (30) consecutive days prior to the end of each fiscal year, (i) an annual business plan setting forth the anticipated strategic business activities and goals, including an expected budget, of the Company an projections of operating results, prepared on a quarterly basis, and (ii) an annual capital budget describing the intended capital investment strategy of the Company that has been approved and adopted by the Board.
Business Plans and Budgets. (a) Five-Year Business Plan On September 12, 2014, the Manager adopted the initial five-year high-level business plan (the “Five-Year Business Plan”) of the Company and its Subsidiaries, which Five-Year Business Plan includes business forecasts, appropriate explanations of the Manager’s strategy, with details of assumptions used, and the general goals and parameters for the Business and operations of the Company and its Subsidiaries consistent with good business practice in the wireless broadband or communications industry. The Manager shall update the Five-Year Business Plan to address the next five-year period which update shall be distributed to American III not later than thirty (30) days prior to the end of the fifth fiscal year covered by the Five-Year Business Plan. In addition, the Manager may, from time to time, in the exercise of its reasonable discretion, modify the Five-Year Business Plan to reflect any material changes affecting the Company and its Subsidiaries or their Business, including changes in availability of capital (including under the Senior Credit Facility).
Business Plans and Budgets. By November 15 of each year the Manager shall submit a plan for the proposed operation of the business (the “Business Plan”), an annual operations budget (the “Operating Budget”) and an annual plan for capital improvements and capital expenditures (the “Capital Budget”) (collectively, the “Budgets”) for the T-9 Project for the subsequent Calendar year to the Board. The Business Plan for the T-9 Project shall identify which of the of the 20 developable parcels comprising the T-9 Project shall be improved, developed, constructed, sold or otherwise dealt with in the coming calendar year. The Manager shall prepare a separate Business Plan and Budgets for each such parcel which is to be developed or constructed within the coming year. The Board shall review each such proposed Business Plan and the Budgets and shall either approve same, or shall provide the Manager with its comments and suggestions with respect to the proposed Business Plan and Operating Budget, in which case the Manager shall revise the proposed Business Plan and Operating Budget in accordance with the comments and suggestions of the Board and re-submit a revised Business Plan and Operating Budget within 10 days for further consideration by the Board, and this process shall continue until each of the Business Plans and Budgets are approved (as approved the “Approved Budget”). In the event that the Board shall fail to approve any Business Plan or Operating Budget for a subsequent year prior to the commencement of such subsequent year (or such latter date as determined by the Board), the Approved Operating Budget shall continue, except that each item shall be adjusted for CPI increases, and utilities, real estate taxes, lease payments, royalty payments and other then existing contractual undertakings of the Company or its Subsidiaries shall be deemed to be approved by the Board to the extent set forth in any executory agreement to which the Company or its Subsidiaries are parties or billed by the utilities and governmental agencies billing same. The Manager, shall, subject to the limitations contained in this Agreement and the availability of cash flow, implement the Approved Business Plans and Budgets on behalf of Company, subject to the provisions hereof. Each proposed or Approved Business Plan and Budgets shall include: A narrative description of the activities proposed to be undertaken by the Company or its Subsidiaries;
(i) A narrative description of the Business Plan for the Company and its...
Business Plans and Budgets. The Company will prepare, at least sixty (60) days prior to the commencement of each Fiscal Year subsequent to its first Fiscal Year, an annual business strategic plan (including a risk management plan) and an annual budget (the “Annual Business Plan and Budget”) for the Company for such Fiscal Year. Each Annual Business Plan and Budget will describe the short term and long term strategic business plan of the Company and include budgets for the estimated capital, operating and other expenditures required in connection with, and estimated receipts from, the activities of the Company for the period covered by each Annual Business Plan and Budget. Each Annual Business Plan and Budget approved by the Governance Board will remain operative until amended by the Governance Board or until a subsequent Annual Business Plan and Budget has been approved. If the Governance Board does not approve an Annual Business Plan and Budget for any Fiscal Year, the business of the Company will be conducted substantially in accordance with the most recently approved Annual Business Plan and Budget. In the event the most recently approved Annual Business Plan covers less than a one year period, the approved Annual Business Plan will be prorated to a 12 month period in order to be applied to the Fiscal Year in question.
Business Plans and Budgets. (a) Five‑Year Business Plan On September 12, 2014, the Manager adopted the initial five‑year high‑level business plan (the “Five‑Year Business Plan”) of the Company and its Subsidiaries. The Manager shall update the Five-Year Business Plan to address the next five-year period which update shall be distributed to American II not later than thirty (30) days prior to the end of the fifth fiscal year covered by the Five-Year Business Plan. In addition, the Manager may, from time to time, in the exercise of its reasonable discretion, modify the Five-Year Business Plan to reflect any material changes affecting the Company and its Subsidiaries or their Business, including changes in availability of capital (including under the Senior Credit Facility).
Business Plans and Budgets. The budgets are prepared and consolidated by Management, then submitted to the Finance Committee and approved by the Board on an annual basis. These budgets and financial information are used for capturing in the standard templates of the Business Plan and Shareholder Compact, for the budget year and forecast for the years thereafter. The Board has adopted a diversified structure and tariffs for bulk treated and raw water as well as for Municipal and Industry clients, under normal conditions and for and system capacities where alternative tariffs are approved. The tariffs include an operational and a capital component in the total tariff. Consideration is given for revenue generation to cover the operational and capital expenditure, where possible. It is anticipated that the capital component of the tariff revenue should be utilized to cover the costs of capital expenditure and loan obligations. The cash reserves and the depreciated resources, in instances where it is required, are utilized to support expenditure.
Business Plans and Budgets. Attached hereto as Exhibit A is the business plan for the Company which has been approved by the Members (as so approved, and to the extent revised or updated from time to time with the approval of the Members in accordance with Section 7.2(a), the "Business Plan") and includes a consolidated pre-development, development, capital expenditure and/or operating budget for Company income and expense which has been approved by the Members (as so approved, and to the extent revised or updated from time to time with the approval of Investor in accordance with Section 7.2(a), each, a "Budget", and collectively, the "Budgets"). The Manager will prepare and submit (i) proposed updates and revisions to the Business Plan and Budgets that are then in effect to the Members for their approval pursuant to Section 7.2(a) within thirty (30) days after the end of each fiscal quarter of the Company if necessary and (ii) a proposed new Business Plan and Budget within sixty (60) days of the end of each fiscal year or at such other times if necessary. Such proposed updates and revisions are subject to approval pursuant to Section 7.2(a), and to the extent so approved, shall constitute a part of the Business Plan and/or the applicable Budget(s) for the Company. Until the Members have approved a revised and updated Business Plan or Budget, as the case may be, pursuant to Section 7.2(a), the Company will be operated in accordance with the most recently approved Business Plan and/or Budget for the Company, subject to the Permitted Variance.
Business Plans and Budgets consider what happens if approval not obtained for business plan • consider multi-year rolling plan and annual budget process • set out process regarding preparation of business plan and budget—who prepares and what time frame and to what extent do others participate in the process • consider what happens if approvals for business plan and budget not forthcoming. Does prior plan continue—can some third party mediate or arbitrate—does it go up the chain in each co-venturers organization before something happens. • this is often the most difficult area as co-venturers may have different views during the life of the venture as to what the business should look like and to what extent they are prepared (and able) to invest more funds or leave funds in the JV
Business Plans and Budgets. (a) Prior to the 15th of November of each year, commencing in November, 2009, the President, on behalf of the Company, shall submit to the Members’ Committee for its review and comment a preliminary two-year combined business plan commencing with the following year, which is proposed for the Company. Within ten (10) business days thereof, the Members’ Committee shall provide its response to the President and a final business plan shall be submitted by December 1st and approved by the Members’ Committee by January 1st of the following year.
(b) On or before the 15th of November of each year, commencing in November 2009, the Company shall submit to the Members’ Committee for its review and comment a preliminary budget which is proposed for the Company for the following two (2) years. Within ten (10) business days thereof, the Members’ Committee shall provide its response to the President and a final budget for the following two (2) years shall be submitted by December 15th, and approved by the Members’ Committee by January 1st of the following year.
Business Plans and Budgets. KCO will advise the Company with respect to the Company's annual business plans, will advise the Company's management in connection with the implementation of such plans and will counsel management with respect to the measurement and monitoring of the Company's performance with respect to its plans. KCO will advise the Company with respect to the preparation of other business plans or business proposals for the Company and related Company literature to be utilized in connection with proposed acquisitions or business combinations.
