FINANCIAL PLANNING AND GOALS. Manager will prepare, in consultation with Practice, annual capital and operating budgets reflecting, in reasonable detail anticipated revenues and sources and uses of capital for growth in the medical practice of Practice.
FINANCIAL PLANNING AND GOALS. Subject to Section 4.2.2. of this Agreement, Company shall prepare annual capital and operating budgets reflecting in reasonable detail anticipated revenues and expenses, and sources and uses of capital for growth in GCOA's practice and medical services rendered at the Practice Office. Said budgets shall reflect amounts, if any, allocated for capital purchases, improvements, expansion and any new leasing arrangements. Thereafter, but no later than thirty (30) days prior to the end of the fiscal year, the Policy Board and Company shall agree upon a budget for the upcoming fiscal year. The budget, as described in Section 4.2.2., shall be binding upon Company and GCOA. Company shall consult with GCOA and the Policy Board in the preparation of all budgets. Company and GCOA acknowledge and agree that once a budget has been approved, neither Company nor GCOA shall make expenditures or incur expenses in excess of budgeted amounts without the prior approval of the Policy Board.
FINANCIAL PLANNING AND GOALS. Response shall prepare annual capital and operating budgets reflecting in reasonable detail anticipated revenue and expenses, sources and uses of capital for growth in Oncology's practice and medical services rendered at each Clinic. Response shall determine the amount and form of capital to be invested annually in each Clinic and shall specify the targeted profit margin for each Clinic which shall be reflected in the overall budget. Response realizes that a Clinic may realize opportunities to provide new services and utilize new technologies that will require capital expenditures and anticipates that such opportunities may include ambulatory surgery centers, renovations to Clinic facilities, the addition of satellite locations and new and replacement equipment as may be economically justified. Such budgets shall be presented to the Oversight Committee at least sixty (60) days prior to the end of the preceding calendar year. The budget shall be agreed upon by the Oversight Committee at least thirty (30) days prior to the end of such preceding Calendar year as provided in Section 4.2(b), and, once approved in such manner, shall be binding upon Response and Oncology unless modified or revised in like manner by the Oversight Committee.
FINANCIAL PLANNING AND GOALS. The Company will prepare, in consultation with the Practice, an annual budget (the “Annual Budget”) for the Cancer Centers, reflecting in reasonable detail anticipated revenues and expenses, sources and uses of capital for the Cancer Centers, anticipated personnel staffing and support services arrangements and anticipated ancillary services. The Annual Budget shall be subject to review and approval of the Practice. In the event that the Company and the Practice are unable to approve any Annual Budget within thirty (30) days of the beginning of the fiscal year to which such Annual Budget relates, such dispute shall be settled by the Joint Governing Board and the Annual Budget in respect of the preceding fiscal year shall be deemed the Annual Budget for such new fiscal year pending the determination of the Joint Governing Board. Neither Party shall be permitted to make any expenditure that is: (a) not included in the Annual Budget if such expenditure is greater than $25,000 individually or in the aggregate with all other expenditures that were not included in the Annual Budget and all other expenditures that exceed their identified amount in the Annual Budget (but only to the extent of such excess); or (b) set forth in the Annual Budget if such expenditure is greater than $25,000 of the amount approved for such expenditure in the Annual Budget individually or in the aggregate with all other expenditures that exceed their identified amount in the Annual Budget (but only to the extent of such excess) and all other expenditures that were not included in the Annual Budget. The Annual Budget for any fiscal year may be amended or modified by a written agreement executed by each of the Parties.
FINANCIAL PLANNING AND GOALS. IPS shall prepare annual capital and operating budgets reflecting, in reasonable detail, anticipated revenues and expenses, sources and uses of capital for growth in the Practice, and medical services to be rendered at the Practice. The budgets shall be presented to the Policy Board at least thirty (30) days prior to the end of the preceding fiscal year. IPS shall determine the amount and form of capital to be invested annually in the Practice and shall specify the targeted profit margin for the Practice which shall be reflected in the budget.
FINANCIAL PLANNING AND GOALS. Subject to Section 4.2.2. of this Agreement, Company shall prepare annual capital and operating budgets reflecting in reasonable detail anticipated revenues and expenses, and sources and uses of capital for growth in Princeton II's practice and medical services rendered at the Practice Office. Said budgets shall reflect amounts, if any, allocated for capital purchases, improvements, expansion and any new leasing arrangements. Thereafter, but no later than thirty (30) days prior to the end of the fiscal year, the Policy Board and the Company shall agree upon a budget for the upcoming fiscal year. The budget, as described in Section 4.2.2., shall be binding upon Company and Princeton II. Company shall consult with Princeton II and the Policy Board in the preparation of all budgets. Company and Princeton II acknowledge and agree that once a budget has been approved, neither Company nor Princeton II shall make expenditures or incur expenses in excess of budgeted amounts without the prior approval of the Policy Board.
FINANCIAL PLANNING AND GOALS. Subject to Section 4.2.2. of this Agreement, Company shall prepare annual capital and operating budgets reflecting in reasonable detail anticipated revenues and expenses, and sources and uses of capital for growth in TOC's practice and medical services rendered at the Practice Office. Said budgets shall reflect amounts, if any, allocated for capital purchases, improvements, expansion and any new leasing arrangements. Thereafter, but no later than thirty (30) days prior to the end of the fiscal year, the Policy Board shall approve a budget for the upcoming fiscal year. The budget, as described in Section 4.2.2., shall be binding upon Company and TOC. Company shall consult with TOC and the Policy Board in the preparation of all budgets. Company and TOC acknowledge and agree that once a budget has been approved, neither Company nor TOC shall make expenditures or incur expenses in excess of budgeted amounts without the prior approval of the Policy Board.
FINANCIAL PLANNING AND GOALS. Management Company will prepare, for the approval of the Joint Practice Management Board (as defined in Section 5.1), an annual capital and operating budget (the "Budget") reflecting the anticipated Revenues and Cost of Services, sources and uses of capital for growth of PC's practice and for the provision of Infertility Services at the Facilities. Management Company will present the Budget to PC for its approval at least thirty (30) days prior to the commencement of the Fiscal Year. Management Company will indicate the targeted profit margin for PC's practice at the Facilities which will be reflected in the Budget. If the parties can not agree on the Budget for PC for any Fiscal Year during the term of this Agreement, the Budget for the preceding Fiscal Year will serve as the Budget until such time as the dispute can be resolved.
FINANCIAL PLANNING AND GOALS. INMD shall prepare, for the approval of PC, annual capital and operating budgets reflecting the anticipated revenues and expenses, sources and uses of capital for growth of PC's practice and for the provision of Infertility Services at the Facilities. INMD shall present the budgets to PC for its approval at least thirty (30) days prior to the commencement of the Fiscal Year. INMD shall specify the targeted profit margin for PC's practice at the Facilities which shall be reflected in the overall budget. If the parties can not agree on the budget for any Fiscal Year, the budget for the preceding Fiscal Year shall serve as the budget until such time as the dispute can be resolved.
FINANCIAL PLANNING AND GOALS. IntegraMed, in collaboration with PC, will prepare, for the approval of the Practice Management Board (as defined in Section 5.1), an annual capital and operating budget (the "Budget") reflecting the anticipated Revenues and Cost of Services, sources and uses of capital for growth of PC's practice and for the provision of Infertility Services at the Facilities. IntegraMed will present the Budget to the Practice Management Board for its approval at least thirty (30) days prior to the commencement of the Fiscal Year. If the Practice Management Board can not agree on PC's Budget for any Fiscal Year during the term of this Agreement, the Budget for the preceding Fiscal Year will serve as the Budget until such time as a new Budget is approved.
