Review and Adoption of Proposed Programs and Budgets Sample Clauses

Review and Adoption of Proposed Programs and Budgets. Within 30 days after submission of a proposed Program and Budget, each Member shall submit in writing to the Management Committee: (a) notice that the Member approves any or all of the components of the proposed Program and Budget; or (b) modifications proposed by the Member to the components of the proposed Program and Budget; or (c) notice that the Member rejects any or all of the components of the proposed Program and Budget. If a Member fails to give any of the foregoing responses within the allotted time, the failure shall be deemed to be a vote by the Member for adoption of the Manager’s proposed Program and Budget. If a Member makes a timely submission to the Management Committee pursuant to Subsections 12.3(a), 12.3(b) or 12.3(c), then the Manager, working with such other Member, shall seek for a period of time not to exceed 60 days to develop a complete Program and Budget acceptable to all Members. The Manager shall then call a Members’ meeting in accordance with Section for purposes of reviewing and voting upon the proposed Program and Budget.

Review and Adoption of Proposed Programs and Budgets. Within thirty (30) days after submission of a proposed Program and Budget, each Participant shall submit in writing to the Management Committee: (a) notice that the Participant approves any or all of the components of the proposed Program and Budget; (b) modifications proposed by the Participant to the components of the proposed Program and Budget; or (c) notice that the Participant rejects any or all of the components of the proposed Program and Budget. If a Participant fails to give any of the foregoing responses within the allotted time, the failure shall be deemed to be a vote by the Participant for adoption of the Manager's proposed Program and Budget. If a Participant makes a timely submission to the Management Committee pursuant to Subsections 8.4(a), (b) or (c), then the Manager working with the other Participant shall seek for a period of time not to exceed twenty (20) days to develop a complete Program and Budget acceptable to both Participants. The Manager shall then call a Management Committee meeting in accordance with Section 6.3 for purposes of reviewing and voting upon the proposed Program and Budget, provided however that the Management Committee shall make the final determination of the Program and Budget notwithstanding the inability to accommodate an individual Participant’s objections.

Review and Adoption of Proposed Programs and Budgets. Within thirty (30) days after submission of a proposed Program and Budget, or a proposed Amendment thereto under Section 10.9, each Member shall submit in writing to the Management Committee: (a) Notice that the Member approves any or all of the components of the proposed Program and Budget; or (b) Modifications proposed by the Member to the components of the proposed Program and Budget; or (c) Notice that the Member rejects any or all of the components of the proposed Program and Budget. If a Member fails to give any of the foregoing responses within the allotted time, the failure shall be deemed to be a vote by the Member for adoption of the Manager's proposed Program and Budget. If a Member makes a timely submission to the Management Committee pursuant to Subsections 10.4(a), (b) or (c), then the Management Committee shall consult regarding the possible development of a Program and Budget acceptable to all Members (provided that no Member shall be obligated to agree to any actual change to a proposed Program and Budget in connection with such consultations) failing which the Management Committee shall determine a Program and Budget by majority vote of Ownership Interests.

Review and Adoption of Proposed Programs and Budgets. Within thirty (30) days after submission of a proposed Program and Budget, each Participant shall submit in writing to the Management Committee: (a) Notice that the Participant approves any or all of the components of the proposed Program and Budget; (b) Modifications proposed by the Participant to the components of the proposed Program and Budget; or (c) Notice that the Participant rejects any or all of the components of the proposed Program and Budget.

Review and Adoption of Proposed Programs and Budgets. A Participant shall be deemed to have approved and voted to adopt a proposed Program and Budget unless it submits in writing to the Management Committee within thirty (30) days after receipt its rejection of, or proposed modifications to, any or all of the components of the proposed Program and Budget. If a Participant timely submits its rejection or proposed modification to the Management Committee, then the Manager working with the other Participant shall seek, for a period of time not to exceed twenty (20) days, to develop a complete Program and Budget acceptable to both Participants. The Manager shall then call a Management Committee meeting in accordance with Section 7.3 for purposes of reviewing and voting upon the proposed Program and Budget.

Review and Adoption of Proposed Programs and Budgets. Within 20 days after submission of a proposed Program and Budget, each Participant shall submit in writing to the Management Committee: (a) Notice that the Participant approves any or all of the components of the proposed Program and Budget; (b) Modifications proposed by the Participant to the components of the proposed Program and Budget; or (c) Notice that the Participant rejects any or all of the components of the proposed Program and Budget. If a Participant fails to give any of the foregoing responses within the allotted time, the failure shall be deemed to be a vote by the Participant for adoption of the Manager’s proposed Program and Budget. If a Participant makes a timely submission to the Management Committee pursuant to Subsections 9.4(a), (b) or (c), then the Manager working with the other Participant shall seek for a period of time not to exceed 20 days to develop a complete Program and Budget acceptable to both Participants. The Manager shall then call a Management Committee meeting in accordance with Section 7.3 for purposes of reviewing and voting upon the proposed Program and Budget. The Manager may propose amendments (“Amendments”) to any currently approved Program and Budget from time to time prior to incurring costs under such Amendment. In such event, the Participants shall have 15 days after the proposal of an Amendment in which to submit to the Management Committee one of the responses set forth in Subsections 9.4(a), (b) or (c) above (substituting “Amendment” for “Program and Budget” in each case). If a Participant fails to give any of the foregoing responses within the allotted time, the failure shall be deemed to be an approval by that Participant of the Manager’s proposed Amendment. If a Participant makes a timely submission to the Management Committee proposing modifications to or rejecting the proposed Amendment, then the Management Committee shall seek to develop an Amendment reasonably acceptable to both Participants. If the Participants have failed to agree on an Amendment within 20 days after its proposal by the Manager, the Amendment as approved by the Participant with the majority Participating Interest or the Manager (if the Participating Interests are then 50/50) shall be deemed approved by both Participants and the Management Committee, except to the extent that (i) the Participants’ Participating Interests are 50/50 and (ii) any Amendment includes any of the items set forth in Section 7.2(b), those items shall require ...

Review and Adoption of Proposed Programs and Budgets. Within ten (10) days after notice to the Members of the submission of a proposed Program and Budget, each Member shall submit in writing to the Management Committee: (a) Notice that the Member approves the proposed Program and Budget; or (b) Notice that the Member rejects the proposed Program and Budget. If a Member fails to give either of the foregoing responses within the allotted time, the failure shall be deemed to be a vote by the Member for adoption of the Manager's proposed Program and Budget.

Review and Adoption of Proposed Programs and Budgets. Within fifteen (15) days after submission of a proposed Program and Budget (or ten (10) days after submission of any Programs and Budget which covers a Period of three months or less), each Member shall submit in writing to the Management Committee: 6.5.1 Notice that the Member approves any or all of the components of the proposed Program and Budget; or 6.5.2 Modifications proposed by the Member to the components of the proposed Program and Budget; or 6.5.3 Notice that the Member rejects any or all of the components of the proposed Program and Budget. 6.5.4 If a Member fails to give any of the foregoing responses within the allotted time, the failure shall be deemed to be a vote by the Member for adoption of the Manager’s proposed Program and Budget. If a Member makes a timely submission to the Management Committee pursuant to Sections 6.5.1, 6.5.2, or 6.5.3 above, then the Manager working with the other Member shall seek for a period of time not to exceed fifteen (15) days (or five (5) days with respect to Programs and Budgets which cover Periods of three months or less) to develop a Program and Budget acceptable to both Members. In this case the regularly scheduled quarterly meeting will be delayed until a Program and Budget acceptable to both Members has been developed, at which time Manager shall then call a special Management Committee meeting in accordance with Section 4.3 for purposes of reviewing and voting upon the proposed Program and Budget. If the Members have failed to agree on a Program and Budget within thirty (30) days (ten (10) days with respect to Programs and Budgets which cover Periods of three months or less) after its proposal by the Manager, the provisions of Section 5.7 shall apply. 6.5.5 The Manager may propose amendments (“Amendments”) to the currently approved Program and Budget from time to time prior to incurring costs under such Amendment. In such event, the Members shall have fifteen (15) days after the proposal of a Amendments in which to submit to the Management Committee one of the responses set forth in Sections 6.5.1, 6.5.2 or 6.5.3 above (substituting “Amendment” for “Program and Budget” in each case). If a Member makes a timely submission to the Management Committee pursuant to Sections 6.5.1, 6.5.2, or 6.5.3, above, then the Manager working with the other Member shall seek for a period of time not to exceed fifteen (15) days (or five (5) days with respect to Programs and Budgets which cover Periods of less than three ...

Review and Adoption of Proposed Programs and Budgets. Until the Funding Obligation Date, any proposed Program or Budget shall be approved solely by BACTECH. Following the Funding Obligation Date, within thirty (30) days after submission of a proposed Program and Budget, or a proposed Amendment thereto under Section 10.10, each Member shall submit in writing to the Management Committee: (a) Notice that each Member approves any or all of the components of the proposed Program and Budget; or (b) Modifications proposed by the Member(s) to the components of the proposed Program and Budget; or (c) Notice that the Member(s) rejects any or all of the components of the proposed Program and Budget. If any Member fails to give any of the foregoing responses within the allotted time, the failure shall be deemed to be a vote by that Member or Members for adoption of the Manager's proposed Program and Budget. If any Member makes a timely submission to the Management Committee pursuant to Subsections 10.4(a), (b) or (c), then the Management Committee shall consult regarding the possible development of a Program and Budget acceptable to all Members (provided that no Member shall be obligated to agree to any actual change to a proposed Program and Budget in connection with such consultations) failing which the Management Committee shall determine the approved Program and Budget.

Review and Adoption of Proposed Programs and Budgets. Within thirty (30) business days after submission of a proposed Program and Budget, each Shareholder shall submit in writing to the Board: (a) Notice that the Shareholder approves any or all of the components of the proposed Program and Budget; (b) Modifications proposed by the Shareholder to the components of the proposed Program and Budget; or (c) Notice that the Shareholder rejects any or all of the components of the proposed Program and Budget. If a Shareholder fails to give any of the foregoing responses within the allotted time, the failure shall be deemed to be a vote by the Shareholder for adoption of PLASA’s proposed Program and Budget. If a Shareholder makes a timely submission to the Board pursuant to Sections 7.4(b) or (c), then PLASA working with such Shareholder shall seek for a period of time not to exceed twenty (20) days to develop a complete Program and Budget acceptable to both Shareholders. The Board shall then call a Board meeting for purposes of reviewing and voting upon the proposed Program and Budget.