Process for Succeeding Budgets Clause Samples

Process for Succeeding Budgets. Annually and at least thirty (30) days prior to the commencement of each fiscal year of PC, Business Manager, in consultation with PC's representative to the Policy Board, shall prepare and deliver to PC for PC's approval a proposed Budget, setting forth an estimate of PC's revenues and expenses for the upcoming fiscal year (including, without limitation, the Management Fee and Performance Fee associated with the services provided by Business Manager hereunder). PC shall review the proposed Budget and either approve the proposed Budget or request any changes within fifteen (15) days after receiving the proposed Budget. The Budget shall be adopted by PC after its approval thereof and may be revised or modified only in consultation with the Business Manager.

Process for Succeeding Budgets. Annually and at least thirty (30) days prior to the commencement of each fiscal year of New PA, Business Manager, in consultation with New PA's representatives to the Policy Board (or Joint Policy Board), shall prepare and deliver to New PA for New PA's approval a proposed Budget, setting forth an estimate of New PA's revenues and expenses for the upcoming fiscal year (including, without limitation, the Management Fee and Performance Fee associated with the services provided by Business Manager hereunder). New PA shall review the proposed Budget and either approve the proposed Budget or request any changes within twenty-one (21) days after receiving the proposed Budget. Upon the Budget's adoption by New PA after reasonable review and comment, the Budget may be revised or modified only after consultation with the Business ----------------- *This information has been omitted from this exhibit and is subject to a request for confidential treatment. In accordance with Rule 24b-2 under the Securities Exchange Act of 1934, as amended, such information has been filed separately with the Securities and Exchange Commission.

Process for Succeeding Budgets. Annually and at least forty- five (45) days prior to the commencement of each fiscal year of Business Manager, Business Manager, in consultation with the Policy Board, shall prepare and deliver to Practice for Practice's approval a proposed Budget, setting forth an estimate of Practice's revenues and expenses for the upcoming fiscal year (including, without limitation, the Budgeted Practice Expense and the Monthly Fee). Practice shall review the proposed Budget and either approve the proposed Budget or request any changes within fifteen (15) days after receiving the proposed Budget. The Budget shall be adopted upon mutual agreement of Business Manager and Practice after reasonable review and comment, and may be revised or modified only in consultation with Business Manager. Once approved by both Business Manager and Practice, each succeeding Budget shall be attached hereto and made a part hereof.

Process for Succeeding Budgets. Annually and at least thirty ------------------------------ (30) days prior to the commencement of each fiscal year of PA, Business Manager, in consultation with PA's representative to the Policy Board, shall prepare and deliver to PA for PA's approval a proposed Budget, setting forth an estimate of PA's revenues and expenses for the upcoming fiscal year (including, without limitation, the Management Fee and Performance Fee associated with the services provided by Business Manager hereunder). PA shall review the proposed Budget and either approve the proposed Budget or request any changes within fifteen (15) days after receiving the proposed Budget. The Budget shall be adopted by PA after its approval thereof and may be revised or modified only in consultation with the Business Manager.

Process for Succeeding Budgets. Annually and at least thirty (30) days prior to the commencement of each fiscal year of PA, Business Manager, in consultation with PA's representative to the Policy Board, shall prepare and deliver to PA for PA's approval

Process for Succeeding Budgets. Annually and at least thirty (30) days prior to the commencement of each fiscal year of PC, Business Manager, in consultation with PC, shall prepare and deliver to PC for PC's approval a proposed Budget, setting forth an estimate of PC's revenues and expenses for the upcoming fiscal year (including, without limitation, the cash requirements to operate the business, including the payment of expenses, and the Management Fee associated with the services provided by Business Manager hereunder). PC shall review the proposed Budget and either approve the proposed Budget or request any changes within fifteen (15) days after receiving the proposed Budget. The Budget shall be adopted by PC after its approval thereof and may be revised or modified only in consultation with the Business Manager. PC shall not be in default of any of its obligations hereunder if PC fails to perform because it lacks sufficient funds to perform its required functions.

Process for Succeeding Budgets. For any Successive Term, Provider will prepare in good faith an annual budget reflecting, in detail reasonably acceptable to the County, (i) the anticipated revenues and expenses for the Successive Term and (ii) the sources and uses of capital for growth in the Center and the Center’s expenses. The budgets shall be prepared to reflect the County as the payor of last resort for the Services, Facility, Center, and any other costs associated with operation of the Center. Provider shall present the proposed budget for the Successive Term to the County for review by April 1 of the preceding fiscal year or as otherwise requested by the County, and shall thereafter present any proposed modifications to be incorporated into the proposed final budget no later than the date reasonably determined by the County and communicated to Provider. All proposed budgets and proposed modifications thereto shall be subject to the reasonable approval by the County; provided, however, such approval shall not limit or modify the County’s rights stated elsewhere in this Agreement. Provider will respond promptly to requests for information or modifications in connection with any proposed budget submitted to the County. If Provider receives written notice of budget disapproval, Provider shall submit a revised proposed budget to the County for approval in the manner set forth above. In the event the County and Provider are unable to finalize a budget by the beginning of the fiscal year, until it is finalized, the budget from the prior year will be deemed to be adopted as the budget for the current year.