Common use of Operating Budget and Annual Plan Clause in Contracts

Operating Budget and Annual Plan. MPM shall, not less than sixty (60) days prior to the commencement of each full or partial Fiscal Year, submit to the Tribal Council, for its approval, a proposed Operating Budget and Annual Plan for the ensuing full or partial Fiscal Year, as the case may be. The Operating Budget and Annual Plan shall include a projected income statement, balance sheet, and projection of cash flow for the Enterprise, with detailed justifications explaining the assumptions used therein and included with the Operating Budget and Annual Plan be a schedule of repairs and maintenance (other than Capital Replacements), a business and marketing plan for the Fiscal Year and the Minimum Balance which must remain in the Bank Account and the House Bank as of the end of each month during the Fiscal Year to assure sufficient monies for operating capital purposes, the House Bank and other expenditures authorized under the Operating Budget and Annual Plan. The Operating Budget and Annual Plan for the Enterprise will be comprised of the following: (a) a statement of the estimated income and expenses for the upcoming Fiscal Year, including estimates as to Gross Revenues and Operating Expenses for such Fiscal Year, such operating budget to reflect the estimated results of the operation during each Fiscal Month of the subject Fiscal Year; (b) either as part of the statement of estimated income and expenses referred to in the preceding clause (a), or separately, budgets (and timetables and requirements) of MPM for: (i) repairs and maintenance; (ii) Capital Replacements; (iii) Operating Equipment; (iv) advertising and business promotion programs for the Facility; and (v) the estimated cost of Promotional Allowances; and (c) a business and marketing plan for the subject Fiscal Year. The Tribal Council’s approval of the Operating Budget and Annual Plan shall not be unreasonably withheld or delayed. MPM shall meet with the MBPI Representatives to discuss the proposed Operating Budget and Annual Plan and the MBPI Representatives’ approval shall be deemed given unless a specific written objection thereto is delivered by the MBPI Representatives to MPM within thirty (30) days after MPM and the MBPI Representatives have met to discuss the proposed Operating Budget and Annual Plan. If the MBPI Representatives for any reason decline to meet with MPM to discuss a proposed Operating Budget and Annual Plan, the Tribal Council shall be deemed to have consented to such Operating Budget and Annual Plan unless a specific written objection thereto is delivered to MPM within fifteen (15) days after the date the proposed Operating Budget and Annual Plan is submitted to the Tribal Council. The Tribal Council shall review the Operating Budget and Annual Plan on a line-by-line basis. To be effective, the notice which disapproves a proposed Operating Budget and Annual Plan must contain specific objections in reasonable detail to individual line items. If the initial proposed Operating Budget and Annual Plan contains disputed budget item(s), the MBPI Representatives and MPM agree to cooperate with each other in good faith to resolve the disputed or objectionable proposed item(s). In the event the MBPI Representatives and MPM are not able to reach mutual agreement concerning any disputed or objectionable item(s) within fifteen (15) days after the date the MBPI representatives on the Business Board provides written notice of its objection to MPM, either party shall be entitled to submit the dispute to arbitration in accordance with Section 16. If the MBPI Representatives and MPM are unable to resolve the disputed or objectionable item(s) prior to the commencement of the applicable fiscal year, the undisputed portions of the proposed Operating Budget and Annual Plan shall be deemed to be adopted and approved and the corresponding line item(s) contained in the Operating Budget and Annual Plan for the preceding fiscal year shall be adjusted as set forth herein and shall be substituted in Lieu of the disputed item(s) in the proposed Operating Budget and Annual Plan. Those line items which are in dispute shall be determined by increasing the preceding fiscal year’s actual expense for the corresponding line items by an amount determined by MPM which does not exceed the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the United States Department of Labor, U.S. City Average, all items (1982-1984=100) for the fiscal year prior to the fiscal year with respect to which the adjustment to the line item(s) which is being calculated or any successor or replacement index thereto. The resulting Operating Budget will be deemed to be the Operating Budget and Annual Plan in effect until such time as MPM and the MBPI Representatives have resolved the items objected to by the MBPI Representatives.

Operating Budget and Annual Plan. MPM Manager shall, prior to the scheduled Commencement Date, submit to the Enterprise, for its approval, a proposed Operating Budget and Annual Plan for the remainder of the current Fiscal Year. Thereafter, Manager shall, not less than sixty (60) days prior to the commencement of each full or partial Fiscal Year, submit to the Tribal CouncilEnterprise, for its approval, a proposed Operating Budget and Annual Plan for the ensuing full or partial Fiscal Year, as the case may be. The Operating Budget and Annual Plan shall include a projected income statement, balance sheet, and projection of cash flow for the Enterprise, with detailed justifications explaining the assumptions used therein and included therein. Included with the Operating Budget and Annual Plan shall be a schedule of repairs and maintenance (other than Capital Replacements), a business and marketing plan for the Fiscal Year Year, and the Minimum Balance which must remain in the Enterprise Bank Account Accounts and the House Bank as of the end of each month during the Fiscal Year to assure sufficient monies for operating working capital purposes, the House Bank and other expenditures authorized under the Operating Budget and Annual Plan. The Operating Budget and Annual Plan for the Enterprise Facility will be comprised of the following: (ai) a statement of the estimated income and expenses for the upcoming coming Fiscal Year, including estimates as to Gross Revenues and Operating Expenses for such Fiscal Year, such operating budget to reflect the estimated results of the operation during each Fiscal Month month of the subject Fiscal Year; (bii) either as part of the statement of the estimated income and expenses referred to in the preceding clause (ai), or separately, budgets (and timetables and requirementsrequirements of Manager) of MPM for: (ia) repairs and maintenance; (iib) Capital Replacements; (iiic) Operating Furnishings and Equipment; (ivd) advertising and business promotion programs for the Facility; and; (ve) the estimated cost of Promotional Allowances; and (ciii) a business and marketing plan for the subject Fiscal Year. The Tribal Council’s approval of the Operating Budget and Annual Plan shall not be unreasonably withheld or delayed. MPM shall meet with the MBPI Representatives to discuss the proposed Operating Budget and Annual Plan and the MBPI Representatives’ approval shall be deemed given unless a specific written objection thereto is delivered by the MBPI Representatives to MPM within thirty (30) days after MPM and the MBPI Representatives have met to discuss the proposed Operating Budget and Annual Plan. If the MBPI Representatives for any reason decline to meet with MPM to discuss a proposed Operating Budget and Annual Plan, the Tribal Council shall be deemed to have consented to such Operating Budget and Annual Plan unless a specific written objection thereto is delivered to MPM within fifteen (15) days after the date the proposed Operating Budget and Annual Plan is submitted to the Tribal Council. The Tribal Council shall review the Operating Budget and Annual Plan on a line-by-line basis. To be effective, the notice which disapproves a proposed Operating Budget and Annual Plan must contain specific objections in reasonable detail to individual line items. If the initial proposed Operating Budget and Annual Plan contains disputed budget item(s), the MBPI Representatives and MPM agree to cooperate with each other in good faith to resolve the disputed or objectionable proposed item(s). In the event the MBPI Representatives and MPM are not able to reach mutual agreement concerning any disputed or objectionable item(s) within fifteen (15) days after the date the MBPI representatives on the Business Board provides written notice of its objection to MPM, either party shall be entitled to submit the dispute to arbitration in accordance with Section 16. If the MBPI Representatives and MPM are unable to resolve the disputed or objectionable item(s) prior to the commencement of the applicable fiscal year, the undisputed portions of the proposed Operating Budget and Annual Plan shall be deemed to be adopted and approved and the corresponding line item(s) contained in the Operating Budget and Annual Plan for the preceding fiscal year shall be adjusted as set forth herein and shall be substituted in Lieu of the disputed item(s) in the proposed Operating Budget and Annual Plan. Those line items which are in dispute shall be determined by increasing the preceding fiscal year’s actual expense for the corresponding line items by an amount determined by MPM which does not exceed the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the United States Department of Labor, U.S. City Average, all items (1982-1984=100) for the fiscal year prior to the fiscal year with respect to which the adjustment to the line item(s) which is being calculated or any successor or replacement index thereto. The resulting Operating Budget will be deemed to be the Operating Budget and Annual Plan in effect until such time as MPM and the MBPI Representatives have resolved the items objected to by the MBPI Representatives.

Operating Budget and Annual Plan. MPM The Manager shall, not less later than sixty (60) days prior to the commencement June 1 of each full or partial Fiscal Yearyear, submit to the Tribal Council, for its approvalCompany, a proposed Operating Budget and Annual Plan for the ensuing full or partial following Fiscal Year, as the case may be. The Operating Budget and Annual Plan shall include a projected income statement, balance sheet, sheet and projection of cash flow for the Enterprise, with detailed justifications explaining the assumptions used therein and included with the therein. The Operating Budget and Annual Plan be a schedule of repairs and maintenance for the Enterprise shall comprise the following: (other than Capital Replacements), a) a business and marketing plan for the Fiscal Year Year; (b) a statement of the estimated income and expenses for the Fiscal Year, including estimated Gross Revenues and Operating Expenses and estimated results of the operation during each month of the Fiscal Year; (c) a schedule of the Minimum Balance Balances which must remain in the Enterprise Bank Account Accounts and the House Bank as of the end of each month during the Fiscal Year to assure ensure that sufficient monies money will be available for operating working capital purposes, the House Bank and other expenditures authorized under the Operating Budget and Annual Plan. The Operating Budget and Annual Plan for (the Enterprise will be comprised of the following:“Minimum Balances”); and (a) a statement of the estimated income and expenses for the upcoming Fiscal Year, including estimates as to Gross Revenues and Operating Expenses for such Fiscal Year, such operating budget to reflect the estimated results of the operation during each Fiscal Month of the subject Fiscal Year; (bd) either as part of the statement of the estimated income and expenses referred to in the preceding clause (ab), or separately, budgets (and timetables and requirementsrequirements of the Manager) of MPM for: (i1) repairs and maintenance;, (ii2) Capital Replacements;, (iii3) Operating Furnishings and Equipment;, (iv4) advertising and business promotion programs for the Facility; programs, (5) Promotional Allowances, and (v6) any other items requested by the estimated cost of Promotional Allowances; and (c) a business and marketing plan for the subject Fiscal YearCompany. The Tribal CouncilCompany shall review and approve the Operating Budget and Annual Plan on a line-by-line basis, and shall forward the approved Operating Budget and Annual Plan to the Manager no later than June 25 of each year. The Company’s approval of the Operating Budget and Annual Plan shall not be unreasonably withheld or delayed. MPM shall meet with the MBPI Representatives to discuss the proposed Operating Budget and Annual Plan and the MBPI Representatives’ approval shall be deemed given unless a specific written objection thereto is delivered by the MBPI Representatives to MPM within thirty (30) days after MPM and the MBPI Representatives have met to discuss the proposed Operating Budget and Annual Plan. If the MBPI Representatives for any reason decline Company is unable to meet with MPM to discuss a proposed Operating Budget and Annual Plan, the Tribal Council shall be deemed to have consented to such Operating Budget and Annual Plan unless a specific written objection thereto is delivered to MPM within fifteen (15) days after the date the proposed Operating Budget and Annual Plan is submitted to the Tribal Council. The Tribal Council shall review approve the Operating Budget and Annual Plan on a line-by-line basis. To be effective, the notice which disapproves a proposed Operating Budget and Annual Plan must contain specific objections in reasonable detail to individual line items. If the initial proposed Operating Budget and Annual Plan contains disputed budget item(s), the MBPI Representatives and MPM agree to cooperate with each other in good faith to resolve the disputed or objectionable proposed item(s). In the event the MBPI Representatives and MPM are not able to reach mutual agreement concerning any disputed or objectionable item(s) within fifteen (15) days after the date the MBPI representatives on the Business Board provides written notice of its objection to MPM, either party shall be entitled to submit the dispute to arbitration in accordance with Section 16. If the MBPI Representatives and MPM are unable to resolve the disputed or objectionable item(s) prior to the commencement of the applicable fiscal yearFiscal Year, the undisputed portions of then the proposed Operating Budget and Annual Plan shall be deemed to be adopted and approved and the corresponding line item(s) contained in used as interim amounts until the Operating Budget and Annual Plan are approved by the Company. The Parties acknowledge that the Operating Budget and Annual Plan is intended only to be a reasonable estimate of the Enterprise’s revenues and expenses for the preceding fiscal year relevant Fiscal Year. The Manager shall not be adjusted deemed to have made any guarantee concerning projected results contained in the Operating Budget or Annual Plan. The Manager may, after notice to and approval by the Company, revise the Operating Budget and Annual Plan from time to time as set forth herein may be necessary to reflect any unpredicted significant changes, variables or events or to include significant additional, unanticipated items of expense, and shall be substituted in Lieu may, upon five (5) business days’ notice to the Company, reallocate part or all of the disputed item(samount budgeted with respect to any line item to another line item; provided that any reallocation of funds (a) in from one department to another department or (b) from funds budgeted for any specific plans or programs established at the proposed Enterprise by agreement of the Manager and the Company; and provided further that the Company must approve any budget modification that eliminates or substantially changes any plans or programs approved by Company as part of the Operating Budget and Annual Plan. Those line items which are in dispute In addition, the Manager shall be determined by increasing the preceding fiscal year’s actual expense for the corresponding line items by an amount determined by MPM which does not exceed the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the United States Department of Labor, U.S. City Average, all items (1982-1984=100) for the fiscal year prior provide written notice to the fiscal year with respect to which Company of any increase of ten (10) percent or more in the adjustment to aggregate monthly Operating Expenses from the line item(s) which is being calculated or any successor or replacement index thereto. The resulting Operating Budget will be deemed to be amount provided in the Operating Budget and Annual Plan in effect until such time as MPM and the MBPI Representatives have resolved the items objected to by the MBPI RepresentativesApproved Budget.

Operating Budget and Annual Plan. MPM KAR shall, prior to the scheduled Commencement Date, submit to the Tribal Council, for its written approval, a proposed Operating Budget and Annual Plan for the remainder of the current Fiscal Year. Thereafter, KAR shall, not less than sixty (60) days prior to the commencement of each full or partial Fiscal Year, submit to the Tribal Council, for its written approval, a proposed Operating Budget and Annual Plan for the ensuing full or partial Fiscal Year, as the case may be. The Operating Budget and Annual Plan shall include a projected income statement, balance sheet, and projection of cash flow for the Enterprise, with detailed justifications explaining the assumptions used therein and included with the Operating Budget and Annual Plan be a schedule of repairs and maintenance (other than Capital Replacements), a business and marketing plan for the Fiscal Year Year, and the Minimum Balance which must remain in the Bank Account and the House Facility Bank as of the end of each month during the Fiscal Year to assure sufficient monies for operating working capital purposes, the House Facility Bank and other expenditures authorized under the Operating Budget and Annual Plan. The Operating Budget and Annual Plan for the Enterprise will be comprised of the following: (a) a statement of the estimated income and expenses for the upcoming coming Fiscal Year, including estimates as to Gross Revenues and Operating Expenses for such Fiscal Year, such operating budget to reflect the estimated results of the operation during each Fiscal Month of the subject Fiscal Year; (b) either as part of the statement of the estimated income and expenses referred to in the preceding clause (a), or separately, budgets (and timetables and requirementsrequirements of KAR) of MPM for: (i) repairs and maintenance; (ii) Capital Replacements; (iii) Operating Equipment; (iv) advertising and business promotion programs for the FacilityCasino; and (v) the estimated cost of Promotional Allowances; and (c) a business and marketing plan for the subject Fiscal Year. The Tribal Council’s approval of the Operating Budget and Annual Plan shall not be unreasonably withheld or delayed. MPM shall meet with the MBPI Representatives to discuss the proposed Operating Budget and Annual Plan and the MBPI Representatives’ approval shall be deemed given unless a specific written objection thereto is delivered by the MBPI Representatives to MPM within thirty (30) days after MPM and the MBPI Representatives have met to discuss the proposed Operating Budget and Annual Plan. If the MBPI Representatives for any reason decline to meet with MPM to discuss a proposed Operating Budget and Annual Plan, the Tribal Council shall be deemed to have consented to such Operating Budget and Annual Plan unless a specific written objection thereto is delivered to MPM within fifteen (15) days after the date the proposed Operating Budget and Annual Plan is submitted to the Tribal Council. The Tribal Council shall review the Operating Budget and Annual Plan on a line-by-line basis. To be effective, the notice which disapproves a proposed Operating Budget and Annual Plan must contain specific objections in reasonable detail to individual line items. If the initial proposed Operating Budget and Annual Plan contains disputed budget item(s), the MBPI Representatives and MPM agree to cooperate with each other in good faith to resolve the disputed or objectionable proposed item(s). In the event the MBPI Representatives and MPM are not able to reach mutual agreement concerning any disputed or objectionable item(s) within fifteen (15) days after the date the MBPI representatives on the Business Board provides written notice of its objection to MPM, either party shall be entitled to submit the dispute to arbitration in accordance with Section 16. If the MBPI Representatives and MPM are unable to resolve the disputed or objectionable item(s) prior to the commencement of the applicable fiscal year, the undisputed portions of the proposed Operating Budget and Annual Plan shall be deemed to be adopted and approved and the corresponding line item(s) contained in the Operating Budget and Annual Plan for the preceding fiscal year shall be adjusted as set forth herein and shall be substituted in Lieu of the disputed item(s) in the proposed Operating Budget and Annual Plan. Those line items which are in dispute shall be determined by increasing the preceding fiscal year’s actual expense for the corresponding line items by an amount determined by MPM which does not exceed the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the United States Department of Labor, U.S. City Average, all items (1982-1984=100) for the fiscal year prior to the fiscal year with respect to which the adjustment to the line item(s) which is being calculated or any successor or replacement index thereto. The resulting Operating Budget will be deemed to be the Operating Budget and Annual Plan in effect until such time as MPM and the MBPI Representatives have resolved the items objected to by the MBPI Representatives.

Operating Budget and Annual Plan. MPM shallPrior to the date of this Agreement, Manager will have submitted to the Owner, for its approval, an interim proposed Operating Budget and Annual Plan for the period from the Term Commencement Date and for the 60 calendar days thereafter, in a form agreed upon and initialed by the parties (Manager may fulfill the foregoing obligation by submitting the Operating Budget and Annual Plan already prepared by Casino LLC, provided that Manager shall propose for approval by the Owner, not later than three weeks prior to the anticipated Term Commencement Date, detailed modifications (with explanations) by department as it shall consider appropriate for such 60 day period and a reconciliation of department totals for such 60 day period). During such 60 calendar day period, Manager will submit to the Owner, for its approval, a proposed Operating Budget and Annual Plan for the period from the end of such 60 calendar day period, through the remainder of the then-current Fiscal Year. Thereafter, Manager will, in consultation with the Owner, not less than sixty (60) 60 calendar days prior to the commencement of each full or partial Fiscal YearYear during the Term, submit to the Tribal CouncilOwner, for its approval, a proposed Operating Budget and Annual Plan for the ensuing full or partial Fiscal Year. The Owner shall have the opportunity to make additions to the proposed Operating Budget and Annual Plan, as subject to the case may beManager’s approval, which shall not be unreasonably withheld. The Operating Budget and Annual Plan shall include a projected income statement, balance sheet, and projection of cash flow for the EnterpriseFacility, separately and on a combined basis, for such Fiscal Year, with detailed justifications explaining the assumptions used therein and included with the Operating Budget and Annual Plan shall be a schedule of repairs and maintenance (other than Capital Replacements)) expected during such Fiscal Year, a business and marketing plan for the such Fiscal Year (which shall include, among other things, budgets for advertising and business promotion programs and the estimated costs of Promotional Allowances), and the Minimum Balance which must remain in the Bank Account Accounts and the House Bank as of the end of each month during the such Fiscal Year to assure sufficient monies for operating working capital purposes, the House Bank and other expenditures authorized under the Operating Budget and Annual Plan. The Operating Budget and Annual Plan for the Enterprise Facility will be comprised of the following: (a) 3.5.1 a statement of the estimated income and expenses for the upcoming coming Fiscal Year, including estimates as to Gross Revenues and Operating Expenses for such Fiscal Year, such operating budget to reflect the estimated results of the operation during each Fiscal Month month of the subject Fiscal Year; (b) either as part of the statement of estimated income and expenses referred to in the preceding clause (a), or separately, budgets (and timetables and requirements) of MPM for: (i) repairs and maintenance; (ii) Capital Replacements; (iii) Operating Equipment; (iv) advertising and business promotion programs for the Facility; and (v) the estimated cost of Promotional Allowances; and (c) 3.5.2 a business and marketing plan for the subject Fiscal Year. The Tribal CouncilOwner’s approval of the Operating Budget and Annual Plan shall proceed with all deliberate speed and shall not be unreasonably withheld or delayed. MPM The board of directors of the Owner shall use reasonable efforts to meet with within fifteen (15) Business Days of the MBPI Representatives to discuss the proposed Operating Budget and Annual Plan and the MBPI Representatives’ approval shall be deemed given unless a specific written objection thereto is delivered by the MBPI Representatives to MPM within thirty (30) days after MPM and the MBPI Representatives have met to discuss delivery of the proposed Operating Budget and Annual Plan. If The Owner shall deliver to the MBPI Representatives for Manager any reason decline objection or addition to meet with MPM to discuss a proposed Operating Budget and Annual Plan, the Tribal Council shall be deemed to have consented to such Operating Budget and Annual Plan unless a specific written objection thereto is delivered to MPM within fifteen (15) days after the date the proposed Operating Budget and Annual Plan is submitted within forty-five (45) calendar days of its delivery to the Tribal CouncilOwner. The Tribal Council shall review the Operating Budget Such objections and Annual Plan on a line-by-line basis. To be effective, the notice which disapproves a proposed Operating Budget and Annual Plan additions must contain specific objections in reasonable detail as to individual any line itemsitem to which an objection is made and specific detail as to why an addition should be made. If the initial proposed Operating Budget and Annual Plan contains disputed budget item(s), the MBPI Representatives and MPM agree to cooperate with each other in good faith to resolve the disputed or objectionable proposed item(s). In the event the MBPI Representatives and MPM are not able to reach mutual agreement concerning any disputed or objectionable item(s) within fifteen (15) days after the date the MBPI representatives on the Business Board provides written notice of its objection to MPM, either party shall be entitled to submit the dispute to arbitration in accordance with Section 16. If the MBPI Representatives and MPM are Owner is unable to resolve the additions, or disputed or objectionable item(s) prior to the commencement of the applicable fiscal yearFiscal Year, the undisputed portions of the proposed Operating Budget and Annual Plan shall be deemed to be adopted and approved and the corresponding line item(s) contained in the Operating Budget and Annual Plan for the preceding fiscal year Fiscal Year shall be adjusted as set forth herein in the following sentence and shall be substituted in Lieu lieu of the disputed item(s) in the proposed Operating Budget and Annual Plan. Those line items which are in dispute shall be determined by increasing the preceding fiscal yearFiscal Year’s actual expense for the corresponding line items by an amount determined by MPM Manager which does not exceed the All Items Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the United States Department of Labor, U.S. City Average, all items Average (1982-1984=1001984 = 100) for the fiscal year Fiscal Year prior to the fiscal year Fiscal Year with respect to which the adjustment to the line item(s) which is being calculated or any successor or replacement index theretothereto (provided, however, in no event will the foregoing described adjustment result in a budgeted expense for a line item that is lower than the actual expense amount for the preceding Fiscal Year). The resulting Operating Budget will and Annual Plan obtained in accordance with the preceding sentence shall be deemed to be the Operating Budget and Annual Plan in effect until such time as MPM and the MBPI Representatives have Owner has resolved the items objected in dispute. The Manager may, after notice to and approval from the Owner, revise the Operating Budget and Annual Plan from time to time, as necessary, to reflect any unpredicted significant changes, variables or events or to include significant, additional, unanticipated items of expense. Further, after notice to the Owner, the Manager may reallocate part or all of the amount budgeted with respect to any line item to another line item within the same Department and may make such other modifications to the Operating Budget and Annual Plan as Manager deems necessary, provided that the total amount budgeted for any Department in the Operating Budget and Annual Plan may not be adjusted by more than 5% without approval from the MBPI RepresentativesOwner. The Manager shall provide the Owner with a revised Operating Budget and Annual Plan on a quarterly basis. The Owner acknowledges that the Operating Budget and Annual Plan is intended only to be a reasonable estimate of the Facility’s revenues and expenses for the ensuing Fiscal Year. The Manager shall not be deemed to have made any guarantee or covenant concerning projected results contained in the Operating Budget and Annual Plan.

Operating Budget and Annual Plan. MPM shallManager will, in consultation with the Casino Tenant, not less than sixty (60) 45 calendar days prior to the commencement of each full or partial Fiscal YearYear during the Term (or with respect to the fiscal year in which the Term Commencement Date occurs within 120 days following the Term Commencement Date), submit to the Tribal CouncilCasino Tenant, for its approval, a proposed Operating Budget and Annual Plan for Gaming Operations for the ensuing full or partial Fiscal Year. The Casino Tenant shall have the opportunity to make additions to the proposed Operating Budget and Annual Plan, as subject to the case may beManager’s approval. The Operating Budget and Annual Plan shall include a projected income statement, balance sheet, and projection of cash flow for the Enterprise, with detailed justifications explaining the assumptions used therein and included with the Operating Budget and Annual Plan be a schedule of repairs and maintenance (other than Capital Replacements), a business and marketing plan for the Fiscal Year and the Minimum Balance which must remain in the Bank Account and the House Bank as of the end of each month during the Fiscal Year to assure sufficient monies for operating capital purposes, the House Bank and other expenditures authorized under the Operating Budget and Annual Plan. The Operating Budget and Annual Plan for the Enterprise will be comprised of the following: (a) a statement of the estimated income and expenses for the upcoming coming Fiscal Year, including estimates as to Gross Revenues gross revenues and Operating Expenses for such Fiscal Year, such operating budget to reflect the estimated results of the operation during each Fiscal Month month of the subject Fiscal Year; (b) either as part ; balance sheet, and projection of the statement of estimated income and expenses referred to in the preceding clause (a), or separately, budgets (and timetables and requirements) of MPM for: (i) repairs and maintenance; (ii) Capital Replacements; (iii) Operating Equipment; (iv) advertising and business promotion programs cash flow for the Facility; and (v) Gaming Operations for such Fiscal Year and such other information reasonably requested by Casino Tenant, with detailed justifications explaining the estimated cost of Promotional Allowances; and (c) a business assumptions used therein and marketing plan for the subject Fiscal Year. The Tribal Council’s approval of included with the Operating Budget and Annual Plan shall not be unreasonably withheld a schedule of repairs and maintenance (other than Capital Replacements) expected during such Fiscal Year, a business and marketing plan for such Fiscal Year, and the minimum balance which must remain in the Gaming Operations’ bank accounts and the House Bank as of the end of each month during such Fiscal Year to assure sufficient monies for working capital purposes, and other expenditures authorized under the Operating Budget and Annual Plan. The Casino Tenant may, in accordance with an approved Operating Budget and Annual Plan, engage an independent firm or delayedfirms with expertise in gaming operations to consult with concerning the Operating Budget and Annual Plan and the Capital Budget. MPM The Casino Tenant shall meet with deliver to the MBPI Representatives Manager any objection or addition to discuss the proposed Operating Budget and Annual Plan and within twenty (20) calendar days of its delivery to the MBPI Representatives’ approval shall be deemed given unless a specific written objection thereto is delivered by the MBPI Representatives to MPM within thirty (30) days after MPM and the MBPI Representatives have met to discuss the proposed Operating Budget and Annual PlanCasino Tenant. If the MBPI Representatives for any reason decline to meet with MPM to discuss a proposed Operating Budget and Annual Plan, the Tribal Council shall be deemed to have consented to such Operating Budget and Annual Plan unless a specific written objection thereto Casino Tenant is delivered to MPM within fifteen (15) days after the date the proposed Operating Budget and Annual Plan is submitted to the Tribal Council. The Tribal Council shall review the Operating Budget and Annual Plan on a line-by-line basis. To be effective, the notice which disapproves a proposed Operating Budget and Annual Plan must contain specific objections in reasonable detail to individual line items. If the initial proposed Operating Budget and Annual Plan contains disputed budget item(s), the MBPI Representatives and MPM agree to cooperate with each other in good faith to resolve the disputed or objectionable proposed item(s). In the event the MBPI Representatives and MPM are not able to reach mutual agreement concerning any disputed or objectionable item(s) within fifteen (15) days after the date the MBPI representatives on the Business Board provides written notice of its objection to MPM, either party shall be entitled to submit the dispute to arbitration in accordance with Section 16. If the MBPI Representatives and MPM are unable to resolve the additions, or disputed or objectionable item(s) prior to the commencement of the applicable fiscal yearFiscal Year, the undisputed portions of the proposed Operating Budget and Annual Plan shall be deemed to be adopted and approved and the corresponding line item(s) contained in the Operating Budget and Annual Plan for the preceding fiscal year Fiscal Year shall be adjusted as set forth herein in the following sentence and shall be substituted in Lieu lieu of the disputed item(s) in the proposed Operating Budget and Annual Plan. Those line items which are in dispute shall be determined by increasing the preceding fiscal yearFiscal Year’s actual expense for the corresponding line items by an amount determined by MPM the Manager which does not exceed the All Items Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the United States Department of Labor, U.S. City Average, all items Average (1982-1984=1001984 = 100) for the fiscal year Fiscal Year prior to the fiscal year Fiscal Year with respect to which the adjustment to the line item(s) which is being calculated or any successor or replacement index theretothereto (provided, however, in no event will the foregoing described adjustment result in a budgeted expense for a line item that is lower than the actual expense amount for the preceding Fiscal Year). The resulting Operating Budget will and Annual Plan obtained in accordance with the preceding sentence shall be deemed to be the Operating Budget and Annual Plan in effect until such time as MPM and the MBPI Representatives Parties have resolved the items objected in dispute. The Manager may, after notice to and approval from the Casino Tenant, revise the Operating Budget and Annual Plan from time to time, as necessary, to reflect any unpredicted significant changes, variables or events or to include significant, additional, unanticipated items of expense. Further, after notice to the Casino Tenant, the Manager may reallocate part or all of the amount budgeted with respect to any line item to another line item and may make such other modifications to the Operating Budget and Annual Plan as the Manager deems necessary, provided that the total amount budgeted for any Department in the Operating Budget and Annual Plan may not be adjusted by more than 5% without approval from the MBPI RepresentativesCasino Tenant. The Manager shall provide the Casino Tenant with a revised Operating Budget and Annual Plan on a quarterly basis. The Casino Tenant acknowledges that the Operating Budget and Annual Plan is intended only to be a reasonable estimate of the Gaming Operations’ revenues and expenses for the ensuing Fiscal Year. The Manager shall not be deemed to have made any guarantee or covenant concerning projected results contained in the Operating Budget and Annual Plan; provided, however, Manager shall use commercially reasonable efforts to operate the Casino Premises in accordance with the approved Operating Budget and Annual Plan and shall obtain Casino Tenant’s prior approval for any expenditures in excess of the approved Operating Budget and Annual Plan.

Operating Budget and Annual Plan. MPM Manager shall, in consultation with the Management Board, not less than sixty (60) 45 calendar days prior to the commencement of each full or partial Fiscal YearYear during the Term, submit to the Tribal CouncilManagement Board, for its approval, a proposed Operating Budget and Annual Plan for the ensuing full or partial Fiscal Year, as . The Management Board shall have the case may beopportunity to make additions to the proposed Operating Budget and Annual Plan. The Operating Budget and Annual Plan shall include a projected income statement, balance sheet, and projection of cash flow for the EnterpriseOperating Companies, separately and on a combined basis, for such Fiscal Year, with detailed justifications explaining the assumptions used therein and included with the Operating Budget and Annual Plan shall be a schedule of repairs and maintenance (other than Capital Replacements)) expected during such Fiscal Year, a business and marketing plan for the such Fiscal Year Year, and the Minimum Balance which must remain in the Bank Account Accounts and the House Bank as of the end of each month during the such Fiscal Year to assure sufficient monies for operating working capital purposes, the House Bank and other expenditures authorized under the Operating Budget and Annual Plan. The Management Board may, in its sole discretion, engage an independent firm or firms with expertise in gaming operations to consult with concerning the Operating Budget and Annual Plan and the Capital Budget (the “Financial Advisor”). The costs of the Financial Advisor, up to a maximum of Fifty Thousand and No/100 $50,000.00 per year, shall be an Operating Expense. The Operating Budget and Annual Plan for the Enterprise Operating Companies will be comprised of the following:following (prepared on a combined basis for all Operating Companies and a separate basis for each Operating Company): (a) a statement of the estimated income and expenses for the upcoming coming Fiscal Year, including estimates as to Gross Revenues and Operating Expenses for such Fiscal Year, such operating budget to reflect the estimated results of the operation during each Fiscal Month month of the subject Fiscal Year; (b) either as part of the statement of the estimated income and expenses referred to in the preceding clause (a), or separately, budgets (and timetables and requirementsrequirements of Manager) of MPM for: (i) repairs and maintenance; (ii) Capital Replacements; (iii) Operating Furnishings and Equipment; (iv) advertising and business promotion programs for the Facilityprograms; and (v) the estimated cost of Promotional Allowances; and; (c) a business and marketing plan for the subject Fiscal Year. The Tribal CouncilManagement Board’s approval of the Operating Budget and Annual Plan shall proceed with all deliberate speed and shall not be unreasonably withheld or delayed. MPM The Management Board shall meet with within ten (10) business days of the MBPI Representatives to discuss the proposed Operating Budget and Annual Plan and the MBPI Representatives’ approval shall be deemed given unless a specific written objection thereto is delivered by the MBPI Representatives to MPM within thirty (30) days after MPM and the MBPI Representatives have met to discuss delivery of the proposed Operating Budget and Annual Plan. If The Management Board shall deliver to the MBPI Representatives for Manager any reason decline objection or addition to meet with MPM to discuss a proposed Operating Budget and Annual Plan, the Tribal Council shall be deemed to have consented to such Operating Budget and Annual Plan unless a specific written objection thereto is delivered to MPM within fifteen (15) days after the date the proposed Operating Budget and Annual Plan is submitted within forty-five (45) calendar days of its delivery to the Tribal CouncilManagement Board. The Tribal Council shall review the Operating Budget Such objections and Annual Plan on a line-by-line basis. To be effective, the notice which disapproves a proposed Operating Budget and Annual Plan additions must contain specific objections in reasonable detail as to individual any line itemsitem to which an objection is made and specific detail as to why an addition should be made. If the initial proposed Operating Budget and Annual Plan contains disputed budget item(s), the MBPI Representatives and MPM agree to cooperate with each other in good faith to resolve the disputed or objectionable proposed item(s). In the event the MBPI Representatives and MPM are not able to reach mutual agreement concerning any disputed or objectionable item(s) within fifteen (15) days after the date the MBPI representatives on the Business Management Board provides written notice of its objection to MPM, either party shall be entitled to submit the dispute to arbitration in accordance with Section 16. If the MBPI Representatives and MPM are is unable to resolve the additions, or disputed or objectionable item(s) prior to the commencement of the applicable fiscal yearFiscal Year, the undisputed portions of the proposed Operating Budget and Annual Plan shall be deemed to be adopted and approved and the corresponding line item(s) contained in the Operating Budget and Annual Plan for the preceding fiscal year Fiscal Year shall be adjusted as set forth herein in the following sentence and shall be substituted in Lieu lieu of the disputed item(s) in the proposed Operating Budget and Annual Plan. Those line items which are in dispute shall be determined by increasing the preceding fiscal yearFiscal Year’s actual expense for the corresponding line items by an amount determined by MPM Manager which does not exceed the All Items Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the United States Department of Labor, U.S. City Average, all items Average (1982-1984=1001984 = 100) for the fiscal year Fiscal Year prior to the fiscal year Fiscal Year with respect to which the adjustment to the line item(s) which is being calculated or any successor or replacement index theretothereto (provided, however, in no event will the foregoing described adjustment result in a budgeted expense for a line item that is lower than the actual expense amount for the preceding Fiscal Year). The resulting Operating Budget will and Annual Plan obtained in accordance with the preceding sentence shall be deemed to be the Operating Budget and Annual Plan in effect until such time as MPM and the MBPI Representatives have Management Board has resolved the items objected in dispute. The Manager may, after notice to and approval from the Management Board, revise the Operating Budget and Annual Plan from time to time, as necessary, to reflect any unpredicted significant changes, variables or events or to include significant, additional, unanticipated items of expense. Further, after notice to the Management Board, the Manager may reallocate part or all of the amount budgeted with respect to any line item to another line item within the same Department and may make such other modifications to the Operating Budget and Annual Plan as Manager deems necessary, provided that the total amount budgeted for any Department in the Operating Budget and Annual Plan may not be adjusted by more than 5% without approval from the MBPI RepresentativesManagement Board. The Manager shall provide the Management Board with a revised Operating Budget and Annual Plan on a quarterly basis. The Tribal Parties acknowledge that the Operating Budget and Annual Plan is intended only to be a reasonable estimate of the Businesses’ revenues and expenses for the ensuing Fiscal Year. The Manager shall not be deemed to have made any guarantee concerning projected results contained in the Operating Budget and Annual Plan.

Operating Budget and Annual Plan. MPM Manager shall, prior to the scheduled Commencement Date, submit to the Authority, for its approval, a proposed Operating Budget and Annual Plan for the remainder of the current Fiscal Year. Thereafter, Manager shall, not less than sixty (60) days prior to the commencement of each full or partial Fiscal Year, submit to the Tribal CouncilAuthority, for its approval, a proposed Operating Budget and Annual Plan for the ensuing full or partial Fiscal Year, as the case may be. The Operating Budget and Annual Plan shall include a projected income statement, balance sheet, and projection of cash flow for the Enterprise, with detailed justifications explaining the assumptions used therein and included therein. Included with the Operating Budget and Annual Plan shall be a schedule of repairs and maintenance (other than Capital Replacements), a business and marketing plan for the Fiscal Year and Year, the Minimum Balance which must remain in the Enterprise Bank Account Accounts and the House Bank as of the end of each month during the Fiscal Year to assure sufficient monies for operating working capital purposes, and the House Bank and other expenditures authorized under the Operating Budget and Annual Plan. The Operating Budget and Annual Plan for the Enterprise will be comprised of the following: (a) a statement of the estimated income and expenses for the upcoming coming Fiscal Year, including estimates as to Gross Revenues and Operating Expenses for such Fiscal Year, such operating budget to reflect the estimated results of the operation during each Fiscal Month month of the subject Fiscal Year; (b) either as part of the statement of the estimated income and expenses referred to in the preceding clause (a), or separately, budgets (and timetables and requirementsrequirements of Manager) of MPM for: (i) repairs and maintenance; (ii) Capital Replacements; (iii) Operating Furnishings and Equipment; (iv) advertising and business promotion programs for the FacilityEnterprise; and (v) the estimated cost of Promotional Allowances; and (c) a business and marketing plan for the subject Fiscal Year. The Tribal Council’s Authority's approval of the Operating Budget and Annual Plan shall not be unreasonably withheld or delayed. MPM Manager shall meet with the MBPI Representatives Governing Board to discuss the proposed Operating Budget and Annual Plan Plan, and the MBPI Representatives’ Authority's approval shall be deemed given unless a specific written objection thereto is delivered by the MBPI Representatives Authority to MPM Manager within thirty (30) days after MPM Manager and the MBPI Representatives Governing Board have met to discuss the proposed Operating Budget and Annual Plan. If the MBPI Representatives Governing Board for any reason decline fails to meet with MPM Manager to discuss a proposed Operating Budget and Annual Plan, the Tribal Council Authority shall be deemed to have consented to such Operating Budget and Annual Plan unless a specific written objection thereto is delivered to MPM Manager within fifteen (15) days after the date the proposed Operating Budget and Annual Plan is submitted to the Tribal CouncilAuthority. The Tribal Council Authority shall review the Operating Budget and Annual Plan on a line-by-line basis. To be effective, the any notice which disapproves a proposed Operating Budget and Annual Plan must contain specific objections in reasonable detail to individual line items. If the initial proposed Operating Budget and Annual Plan contains any disputed budget item(s), the MBPI Representatives Governing Board and MPM Manager agree to cooperate with each other in good faith to resolve the disputed or objectionable proposed item(s). In the event the MBPI Representatives and MPM are not able to reach mutual agreement concerning any disputed or objectionable item(s) within fifteen (15) days after the date the MBPI representatives on the Business Board provides written notice of its objection to MPM, either party shall be entitled to submit the dispute to arbitration in accordance with Section 16. If the MBPI Representatives Authority and MPM Manager are unable to resolve the disputed or objectionable item(s) prior to the commencement of the applicable fiscal year, the undisputed portions of the proposed Operating Budget and Annual Plan shall be deemed to be adopted and approved and the corresponding line item(s) contained in the Operating Budget and Annual Plan for the preceding fiscal year shall be adjusted as set forth herein and shall be substituted in Lieu lieu of the disputed item(s) in the proposed Operating Budget and Annual Plan. Those line items which are in dispute shall be determined by increasing the preceding fiscal year’s 's actual expense for the corresponding line items by an amount determined by MPM which does not exceed equal to the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the United States Department of Labor, U.S. City Average, all items (1982-1984=1001984 = 100) for the fiscal year Fiscal Year prior to the fiscal year Fiscal Year with respect to which the adjustment to the line item(s) which is being calculated or any successor or replacement index thereto. The resulting Operating Budget will be deemed to be the Operating Budget and Annual Plan in effect until such time as MPM and the MBPI Representatives have resolved the items objected to by the MBPI Representatives.