Conformity to Annual Plan Sample Clauses

Conformity to Annual Plan. Manager will use all commercially ----------- ------------------------- reasonable efforts to cause the Project to be operated in accordance with the Annual Plan. Owner and Manager acknowledge, however, that the Annual Plan is a budget based upon assumptions believed to be reasonable at the time of its preparation and, as such, is only an estimate of the results of operation and other activity with respect to the Project. Manager cannot guarantee that the actual operation of the Project will conform to the Annual Plan or that the financial results reflected therein will actually be realized. Notwithstanding any other provision of this Agreement, any and all references Management Agreement herein to the Annual Plan (including the Preopening Budget during the Preopening Period as provided in Section 3.5) shall be qualified by this Section 2.3. ----------- -----------
Sample 1
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Conformity to Annual Plan. Manager will use all commercially reasonable efforts to cause the Project to be operated in accordance with the Annual Plan. Owner and Manager acknowledge, however, that the Annual Plan is a budget based upon assumptions believed to be reasonable at the time of its preparation and, as such, is only an estimate of the results of operation and other activity with respect to the Project. Manager cannot guarantee that the actual operation of the Project will
Sample 1
Conformity to Annual Plan. Manager will operate the Hotel in accordance with the Annual Plan and in a commercially reasonable, business-like manner with the objective of optimizing the financial performance of the Hotel. Notwithstanding the foregoing, Owner understands and agrees as follows: (a) Certain expenses provided for in the Operating Budget for any month in a Fiscal Year will vary based on the utilization of the Hotel and, accordingly, to the extent that utilization of the Hotel for the Hotel in a particular Operating Budget category for any month in a Fiscal Year exceeds the utilization of the Hotel for such category in the approved Operating Budget for such month, such category of the approved Operating Budget shall be deemed to include corresponding increases in variable expenses; (b) Manager shall have the right to pay all Uncontrollable Expenses without reference to the amounts provided for in respect thereof in the approved Operating Budget and the Capital Expenditures Budget and FF&E Budget for any Fiscal Year; (c) If any expenditures are required on an emergency basis to avoid damage to the Hotel or injury to persons or property, Manager shall make a good faith effort to obtain approval of Owner before making such expenditures, as may reasonably be required to avoid or mitigate such damage or injury, even if the amounts of such expenditures are not provided for or within the amounts provided for in the approved Operating Budget, the Capital Expenditures Budget and the FF&E Budget for the Fiscal Year in question. In no event may such emergency expenditures exceed $10,000; and (d) Subject to Owner's right to direct Manager to contest such Legal Requirements or violation as set forth in this Agreement, if any expenditures are required to comply with any Legal Requirements which, if not complied with may, in Manager's reasonable determination, (i) give rise to criminal liability on the part of either Manager or Owner, or (ii) materially threaten the operation of the Hotel in accordance with the terms of applicable Legal Requirements, or (iii) result in danger to the life or safety of Hotel employees or guests, or (iv) give rise to the potential of imminent damage to material components of the Hotel, Manager may make such reasonable emergency expenditures as may be necessary to comply with such Legal Requirements.
Sample 1

Related to Conformity to Annual Plan

  • Annual Forecasts As soon as available and in any event no later than 90 days after the end of each Fiscal Year, forecasts prepared by management of the Borrower, in form satisfactory to the Administrative Agent, of balance sheets, income statements and cash flow statements on an annual basis for the Fiscal Year following such Fiscal Year.

  • Annual Plan On or before November 1 of each calendar year during the Term, Manager shall prepare and submit to Owner for its approval a proposed annual plan for the promotion, operation, leasing, repair and maintenance of the Project for each calendar year (the "Proposed Annual Plan"). For purposes of this Agreement, a "Fiscal Year" shall mean a calendar year beginning on the first day of January and ending on the last day of December. The Annual Plan for the remaining portion of Fiscal Year 2003 is attached hereto as Exhibit "A".

  • Operating Plan To Agent and Lenders, as soon as available, but not later than thirty (30) days after the end of each Fiscal Year, an annual combined operating plan (the "Operating Plan") for Parent and its Subsidiaries, approved by the Board of Directors of Parent, for the following Fiscal Year, which (i) includes a statement of all of the material assumptions on which such plan is based, (ii) includes projected monthly income statement, balance sheets and source and use of funds for the following year and (iii) Borrowing Availability projections, all prepared on the same basis and in similar detail as that on which operating results are reported (and in the case of cash flow projections, representing management's good faith estimates of future financial performance based on historical performance), and including plans for personnel, Capital Expenditures and facilities.

  • To be Provided Annually but no later than December 1 i) Current complete address listing, ii) Details of all absences of members from the workplace due to an injury for which the member received Workplace Safety and Insurance Board benefits, iii) All approved leaves of absence including type of leave. Any additional information requests beyond that noted above may be provided, if possible, by the Employer at the expense of the Plan, unless the Employer is obligated by law to provide the information.

  • Annual Operating Plan Purchaser may be required to submit a written annual operating plan, as specified by, and at the request of the Forest Officer.

  • Business Plan The Lenders shall have received a satisfactory business plan for fiscal years 1999-2006 and a satisfactory written analysis of the business and prospects of the Borrower and its Subsidiaries for the period from the Closing Date through the final maturity of the Term Loans.

  • Conformity with Plan This Agreement is intended to conform in all respects with, and is subject to all applicable provisions of, the Plan. Inconsistencies between this Agreement and the Plan shall be resolved in accordance with the terms of the Plan. In the event of any ambiguity in this Agreement or any matters as to which this Agreement is silent, the Plan shall govern. A copy of the Plan is available upon request to the Administrator.

  • Annual Statement The Plan Administrator shall provide to the Executive, within one hundred twenty (120) days after the end of each Plan Year, a statement setting forth the benefits to be distributed under this Agreement.

  • Annual Operating Budget and Financial Projections Within sixty (60) days after the end of each fiscal year of Borrower Representative (and promptly and within five (5) days of any material modification thereto), an annual operating budgets, on a consolidating basis (including income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borrower Representative, as approved by Borrower Representative’s Board, together with any related business forecasts used in the preparation of such annual financial projections.

  • Monthly Statement The Contractor shall submit a statement to the Engineer at the end of each month, in a tabulated form approved by the Engineer, showing the amounts to which the Contractor considers himself to be entitled. The statement shall include the following items, as applicable; - the value of the Permanent Work executed up to the end of previous month - such an amount (not exceeding 75 percent of the value) as the Engineer may consider proper on account of materials for permanent work delivered by the Contractor in the site - such amount as the Engineer may consider fair and reasonable for any Temporary Works for which separate amounts are provided in the Bill of Quantities - adjustments under Clause 70 - any amount to be withheld under retention provisions of Sub-clause 60.3 - any other sum to which the Contractor may be entitled under the Contract If the Engineer disagrees with or cannot verify any part of the statement, the Contractor shall submit such further information as the Engineer may reasonably require and shall make such changes and corrections in the statement as may be directed by the Engineer. In cases where there is difference in opinion as to the value of any item, the Engineer’s view shall prevail.

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