Preparation of Proposed Project Budget Sample Clauses

Preparation of Proposed Project Budget. Prior to the beginning of each Operating Year, the Managers shall submit the Project Budget for the Crystals Component to Owner for its review and written approval (subject to DW Member’s rights pursuant to the Joint Venture Agreement). The Managers shall act reasonably and exercise prudent business judgment in preparing each proposed Project Budget. The proposed Project Budget shall include sufficient details, with respect to an estimate of costs and expenses, revenue and profit, and a marketing budget, as may be requested or required by the Board of Directors pursuant to the Joint Venture Agreement. In addition to the foregoing, the Project Budget shall provide a forecast of capital expenditures anticipated for the Crystals Component during the one year subsequent to the subject Operating Year for informational purposes only, so that Owner can reasonably anticipate the subsequent year’s potential expenditure, but the Managers shall be bound to their respective Project Budget for any given Operating Year only.
Sample 1Sample 2
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Preparation of Proposed Project Budget. No later than ninety (90) days prior to the Crystals Component Opening Date, the Retail Manager shall prepare and submit to Owner the Project Budget with respect to the first Operating Year for the Crystals Component for owner’s review and written approval. Thereafter, at least ninety (90) days prior to the beginning of each subsequent Operating Year, the Retail Manager shall prepare and submit to Owner the Project Budget for such Operating Year for the Crystals Component for Owner’s review and written approval. The Retail Manager shall act reasonably and exercise prudent business judgment in preparing the proposed Project Budget.”
Sample 1Sample 2
Preparation of Proposed Project Budget. Prior to the beginning of each Operating Year, Operator shall submit the Project Budget for the Condo-Hotel to Owner for its review and written approval (subject to DW Member’s rights pursuant to the Joint Venture Agreement). Operator shall act reasonably and exercise prudent business judgment in preparing each proposed Project Budget. Each proposed Project Budget shall include sufficient details with respect to an estimate of costs and expenses, revenue and profit, and a marketing budget, as may be requested or required by the Board of Directors, including, but not limited to, revenue and expense projections showing (by Residential Unit type) projected occupancy for Participating Units (and an estimate of proposed room rates for Participating Units) and cash distributions to Owner and all Unit Owners of Participating Units. In addition to the foregoing, each Project Budget shall provide a forecast of capital expenditures anticipated for the Condo-Hotel during the one year subsequent to the subject Operating Year for informational purposes only, so that Owner can reasonably anticipate the subsequent year’s potential expenditure, but Operator shall be bound to the Project Budget for any given Operating Year only.
Sample 1Sample 2
Preparation of Proposed Project Budget. No later than ninety (90) days prior to the Opening Date, Operator shall prepare and submit to Owner the Project Budget for the Condo-Hotel with respect to the first Operating Year for Owner’s review and written approval. Thereafter, at least ninety (90) days prior to the beginning of each subsequent Operating Year, Operator shall prepare and submit to Owner the Project Budget for such Operating Year for the Condo-Hotel for Owner’s review and written approval. Operator shall act reasonably and exercise prudent business judgment in preparing each proposed Project Budget”
Sample 1Sample 2
Preparation of Proposed Project Budget. Prior to the beginning of each Operating Year, each Manager shall submit the Project Budget for its respective Component (other than with respect to any Component, including the Hotel Assets, for which a third party manager is obligated to provide a budget with respect to such Component) to Owner for its review and written approval (subject to DW Member’s rights pursuant to the Joint Venture Agreement). Each Manager shall act reasonably and exercise prudent business judgment in preparing each proposed Project Budget. Each proposed Project Budget shall include sufficient details, with respect to an estimate of costs and expenses, revenue and profit, and a marketing budget, as may be requested or required by the Board of Directors pursuant to the Joint Venture Agreement. In addition to the foregoing, each Project Budget shall provide a forecast of capital expenditures anticipated for the respective Component during the one year subsequent to the subject Operating Year for informational purposes only, so that Owner can reasonably anticipate the subsequent year’s potential expenditure, but Managers shall be bound to their respective Project Budget for any given Operating Year only.
Sample 1
Preparation of Proposed Project Budget. No later than ninety (90) days prior to the Resort Hotel and Casino Opening Date, each Manager shall prepare and submit to Owner the Project Budget with respect to the first Operating Year for its respective Component (other than with respect to any Component, including the Hotel Assets, for which a third party manager is obligated to provide a budget, in which event Managers shall use commercially reasonable efforts to cause the third party manager to prepare and deliver the draft budget in accordance with the applicable management agreement) for Owner’s review and written approval. Thereafter, at least ninety (90) days prior to the beginning of each subsequent Operating Year, each Manager shall prepare and submit to Owner the Project Budget for such Operating Year for its respective Component (other than with respect to any Component, including the Hotel Assets, for which a third party manager is obligated to provide a budget, in which event Managers shall use commercially reasonable efforts to cause the third party manager to prepare and deliver the draft budget in accordance with the applicable management agreement) for Owner’s review and written approval. Each Manager shall act reasonably and exercise prudent business judgment in preparing each proposed Project Budget.”
Sample 1

Related to Preparation of Proposed Project Budget

  • Project Budget A Project Budget shall be prepared and maintained by Grantee. The Project Budget shall detail all costs for which the Grant will be used during each calendar month of the Term. The Project Budget must be approved in writing by the Project Monitor. Grantee shall carry out the Project and shall incur costs and make disbursements of funds provided hereunder by the Sponsor only in conformity with the Project Budget. The current approved Project Budget is contained in Attachment B. Said Project Budget may be revised from time to time, but no Project Budget or revision thereof shall be effective unless and until the same is approved in writing by Project Monitor. The funds granted under this Grant Contract cannot be used to supplant (replace) other existing funds.

  • Construction Budget The total amount indicated by the District for the Project plus all other costs, including design, construction, administration, financing, and all other costs.

  • Completion of Project The Borrower shall carry out the Project in accordance with the Technical Description as may be modified from time to time with the approval of the Bank, and complete it by the final date specified therein.

  • Development Budget Attached hereto as Exhibit "B" and incorporated herein by this reference is the Development Budget in an amount equal to $_____________. Owner acknowledges and represents that the attached Development Budget includes the total costs and expenses to acquire, develop, renovate and construct the Real Property and the Apartment Housing.

  • Initial Budget The initial Budget shall be agreed upon by -------------- the parties before the execution of this Management Services Agreement and shall be attached hereto and made a part hereof.

  • Annual Budgets The School shall adopt a budget for each fiscal year, prior to the beginning of the fiscal year. The budget shall be in the Idaho Financial Accounting Reporting Management Systems (IFARMS) format and any other format as may be reasonably requested by the Authorizer.

  • Representatives’ Review of Proposed Amendments and Supplements During the period when a prospectus relating to the Offered Shares is required by the Securities Act to be delivered (whether physically or through compliance with Rule 172 under the Securities Act or any similar rule), the Company (i) will furnish to the Representatives for review, a reasonable period of time prior to the proposed time of filing of any proposed amendment or supplement to the Registration Statement, a copy of each such amendment or supplement and (ii) will not amend or supplement the Registration Statement (including any amendment or supplement through incorporation of any report filed under the Exchange Act) without the Representatives’ prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed. Prior to amending or supplementing any preliminary prospectus, the Time of Sale Prospectus or the Prospectus (including any amendment or supplement through incorporation of any report filed under the Exchange Act), the Company shall furnish to the Representatives for review, a reasonable amount of time prior to the time of filing or use of the proposed amendment or supplement, a copy of each such proposed amendment or supplement. The Company shall not file or use any such proposed amendment or supplement without the Representatives’ prior written consent, which consent shall not be unreasonably withheld, conditioned or delayed. The Company shall file with the Commission within the applicable period specified in Rule 424(b) under the Securities Act any prospectus required to be filed pursuant to such Rule.

  • Operating Budget (a) No less than forty-five (45) days prior to the Substantial Completion of each train of the Project, and no less than forty-five (45) days prior to the beginning of each calendar year thereafter, the Borrower shall prepare a proposed operating plan and a budget setting forth in reasonable detail the projected requirements for Operation and Maintenance Expenses for the Borrower and the Project for the ensuing calendar year (or, in the case of the initial Operating Budget, the remaining portion thereof) and provide the Independent Engineer, the Common Security Trustee, and the Senior Facility Agent with a copy of such operating plan and budget (the “Operating Budget”). Each Operating Budget shall be prepared in accordance with a form approved by the Independent Engineer, shall set forth all material assumptions used in the preparation of such Operating Budget, and shall become effective upon approval of the Senior Facility Agent, acting reasonably and in consultation with the Independent Engineer; provided, that if the Senior Facility Agent shall not have approved or disapproved the Operating Budget within thirty (30) days after receipt thereof, such Operating Budget shall be deemed to have been approved; and provided, further that the Senior Facility Agent shall have neither the right nor the obligation to approve costs for Gas purchase contracts for the Project contained in the Operating Budget. If the Borrower does not have an effective annual Operating Budget before the beginning of any calendar year, until such proposed Operating Budget is approved, the Operating Budget most recently in effect shall continue to apply; provided, that (A) any items of the proposed Operating Budget that have been approved shall be given effect in substitution of the corresponding items in the Operating Budget most recently in effect, (B) costs for Gas purchase contracts for the Project shall be as provided by the Borrower and (C) all other items shall be increased by the lesser of (x) two and one-half percent (2.5%) and (y) the increase proposed by the Borrower for such item in such proposed Operating Budget.

  • Annual Budget (a) The Company and its Subsidiaries shall be operated in accordance with an annual budget, as it may be annually updated from time to time pursuant to this Section 3 (the “Annual Budget”). The initial Annual Budget for the period beginning on the Effective Date and ending on December 31, 2018, including the related variances, is attached hereto as Schedule B-1 (the “Initial Annual Budget”). For each Fiscal Year thereafter, the Asset Manager shall be responsible for preparing and submitting to the Company Board for approval as a Major Decision in accordance with the terms of the Company LLC Agreement a proposed updated Annual Budget, including the related variances. The Annual Budget shall be prepared by the Asset Manager in accordance with the protocols (including the preparation of the back-up materials on the timetable set forth therein) set forth on Schedule B-2 hereto (the “Budget Development Protocols”). The Annual Budget for each Fiscal Year shall be prepared with the same detail and line items as set forth in the Initial Annual Budget and such other detail as the members of the Company Board appointed by the Preferred Partners in accordance with Section 4.3(c) of the Parent LP Agreement (the “Preferred Board Members”) may reasonably request. In connection with the review of a proposed Annual Budget, the Preferred Board Members may reasonably request additional information regarding the materials supporting the proposed Annual Budget or such other information as is necessary or desirable to enable review of such proposed Annual Budget, and the Asset Manager shall provide such requested information. The Preferred Board Members shall consent to or reject the proposed Annual Budget, or request additional information (as provided for above), within ten (10) Business Days following (i) receipt of such proposed Annual Budget or (ii) receipt of all additional information that is, in the determination of the Preferred Board Members, necessary or desirable to enable review of such proposed Annual Budget. The Asset Manager shall comply with the Budget Development Protocols regarding the Preliminary Budget for each Fiscal Year. The Annual Budget shall be prepared and submitted annually by the Asset Manager no later than December 10, 2018 for the next Fiscal Year and thereafter by December 10 of each year with respect to the following Fiscal Year. The Annual Budget for each Fiscal Year shall include use of the pre-funded reserve amounts as shown on Schedule B-3 hereto for the four Fiscal Quarters comprising such Fiscal Year. In connection with the submission of the Annual Budget, the Asset Manager shall also prepare and submit to the Company Board an annual business plan for Parent and its Subsidiaries, including a responsible five-year operations forecast, including the operating metrics set forth on Schedule B-4 hereto (the “Annual Plan”). The Preferred Board Members, or their designated representatives, shall be provided reasonable access to all information, data, reports, models and analyses relied on in developing the Annual Plan (including, for the avoidance of doubt, all financial and silvicultural assumptions, constraints, supporting stand level data, merchantable timber volumes, pre-merchantable acres by species and age class, and acres by land classification).

  • Construction of Project 11.1.1 Developer agrees to cause the Project to be developed, constructed, and installed in accordance with the terms hereof and the Construction Provisions set forth in Exhibit D, including those things reasonably inferred from the Contract Documents as being within the scope of the Project and necessary to produce the stated result even though no mention is made in the Contract Documents.

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