The Budget and Operating Plan Sample Clauses

The Budget and Operating Plan. (a) The Managing Member shall, within thirty (30) days after the acquisition of the Initial Company Property, prepare and submit to GAP for GAP’s approval a budget and strategic operating plan (as approved, the “Initial Budget and Operating Plan”) for the Company monthly through December 31, 2015 with annual projections from January 1, 2016 through December 31, 2018, which sets forth all anticipated revenue, operating expenses, and capital expenditures of the Company, together with an exit valuation/strategy and projected capital contributions/returns and IRR’s to each Member, all of which is based on the strategic and comprehensive business plan designed to maximize the Company’s returns on the Initial Company Property, and all of which shall be consistent with preliminary projections previously provided to the Members by Managing Member. Thereafter, the Budget and Operating Plan shall be prepared in proposed form and submitted annually by Managing Member to the Members for approval at least forty-five (45) calendar days prior to the end of each fiscal year with respect to the following fiscal year, together with three (3) year forward projections (provided if the Managing Member should fail to timely prepare and submit in proposed form any such Budget and Operating Plan, GAP shall be authorized to prepare such Budget and Operating Plan). In formulating the comprehensive Budget and Operating Plan, to the extent reasonably feasible at the time of preparation thereof, the Managing Member shall develop (for approval by the Members) proposed strategies regarding (i) plans for development, leasing, financing and sale of any real property and proposed reductions of Expenses and other Company costs and expenses and increases in revenues, (ii) preparation and release of all promotional and advertising material and development related plans relating to, and a marketing plan for, the Company Property or concerning the Company, (iii) terms for any proposed sale or disposition of any Company Property, or acquisition of additional Company Property, and (iv) selection of legal counsel, accountants, appraisers and other consultants for the Company to efficiently implement the Budget and Operating Plan (those professionals identified on Exhibit “B” attached hereto are hereby approved, subject to GAP’s right to withdraw such approval for poor performance by such professionals). The Managing Member will also consider and make recommendations to the extent it deems the same...
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The Budget and Operating Plan. The Managing Member shall be responsible for preparing and submitting to the Members for their approval a proposed budget and strategic operating plan with regard to the Property and/or the Subsidiaries on a consolidated basis along with operations of the Company, for each fiscal year. Within forty-five (45) calendar days after the date hereof, an initial Budget for the Company and the Subsidiaries (the “Initial Budget”) shall be attached hereto as Exhibit A. For each year thereafter, the Budget and Operating Plan shall be prepared in proposed form by the Managing Member and submitted by the Managing Member to the Members in draft form by November 1 of each year with respect to the following fiscal year for approval no later than December 15 of each fiscal year with respect to the following fiscal year.
Sample 1
The Budget and Operating Plan. (a) A preliminary budget and operating plan for the calendar year 1998 ("Preliminary Budget and Operating Plan") is attached as EXHIBIT 2 to this Agreement. The Preliminary Budget and Operating Plan is hereby approved by the Members solely with respect to total Acquisition Costs of $22.345 million, "Closing Costs", "Financing Costs", "Due Diligence Costs", and Revenue and Expense items shown therein for the period of March 30, 1998 through May 31, 1998 (subject in each case to the requirements of Section 7.01(a)(i)). The remaining budget projections for 1998 and 1999 therein are good faith estimates only and subject to revision and approval in the final Budget and Operating Plan for the calendar year 1998 to be prepared and adopted as provided in Section 9.06(b) below.
Sample 1
The Budget and Operating Plan. (a) Within sixty (60) days after the Effective Date, the Managing Member shall prepare, for Investor’s approval, a budget and strategic operating plan (as approved, the “Initial Budget and Operating Plan”) for the Company monthly through December 31, 2023, which sets forth all anticipated income, operating expenses, and capital expenditures of the Company, together with an exit or refinance valuation/strategy and projected quarterly/annual capital contributions and capital returns, stabilized cash-on-cash returns, and aggregate Preferred Rate of Return to each Member, all of which is based on the strategic and comprehensive business plan designed to maximize the Company’s returns on the Company Property, and all of which shall be consistent with preliminary figures previously provided to the Executive Committee by the Managing Member. Thereafter, the Budget and Operating Plan shall be prepared in proposed form and submitted annually by the Managing Member to the Executive Committee for approval at least forty-five (45) calendar days prior to the end of each fiscal year with respect to the following fiscal year, together with five (5) year forward projections (provided if the Managing Member should fail to timely prepare and submit in proposed form any such Budget and Operating Plan, the Executive Committee shall be authorized to prepare such Budget and Operating Plan). (b) The Managing Member will also consider and make recommendations to the Executive Committee (for its approval to the extent such action is a Major Decision), regarding any suggested or proposed amendment, modification, alteration, change, cancellation, or prepayment of any indebtedness evidenced by any mortgage loan presently or hereafter affecting any Company Property, and procurement of title insurance and other insurance for the Company, or decrease or vary the insurance carried by or on behalf of the Company and any other matters affecting the Company’s business.
Sample 1
The Budget and Operating Plan. The Managing Member shall, within thirty (30) days after the Effective Date, prepare and submit to GAP for GAP’s approval a budget and strategic operating plan (as approved, the “Initial Budget and Operating Plan”) for the Company monthly through December 31, 2020, which sets forth all anticipated revenue, operating expenses, and capital expenditures of the Company Thereafter, the Budget and Operating Plan shall be prepared in proposed form and submitted annually by Managing Member to GAP for approval at least sixty (60) calendar days prior to the end of each fiscal year with respect to the following fiscal year, together with five (5) year forward projections (provided if the Managing Member should fail to timely prepare and submit in proposed form any such Budget and Operating Plan, GAP shall be authorized to prepare such Budget and Operating Plan). In the event GAP does not approve a proposed Budget and Operating Plan prior to the beginning of any calendar year, then, until a new Budget and Operating Plan are approved by GAP the Budget and Operating Plan shall continue to be the Budget and Operating Plan for the purposes of this Agreement.
Sample 1
The Budget and Operating Plan 
Sample 1

Related to The Budget and Operating Plan

  • Annual Operating Budget and Financial Projections Within sixty (60) days after the end of each fiscal year of Borrower Representative (and promptly and within five (5) days of any material modification thereto), an annual operating budgets, on a consolidating basis (including income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borrower Representative, as approved by Borrower Representative’s Board, together with any related business forecasts used in the preparation of such annual financial projections.

  • Operating Plan To Agent and Lenders, as soon as available, but not later than thirty (30) days after the end of each Fiscal Year, an annual combined operating plan (the "Operating Plan") for Parent and its Subsidiaries, approved by the Board of Directors of Parent, for the following Fiscal Year, which (i) includes a statement of all of the material assumptions on which such plan is based, (ii) includes projected monthly income statement, balance sheets and source and use of funds for the following year and (iii) Borrowing Availability projections, all prepared on the same basis and in similar detail as that on which operating results are reported (and in the case of cash flow projections, representing management's good faith estimates of future financial performance based on historical performance), and including plans for personnel, Capital Expenditures and facilities.

  • Projected Operating Budget Furnish Agent, no later than thirty (30) days after the beginning of each fiscal year of Borrower commencing with fiscal year 2021, a month by month projected operating budget and cash flow of Borrower on a consolidated and consolidating basis for such fiscal year (including an income statement for each month and a balance sheet as at the end of the last month in each fiscal quarter), such projections to be accompanied by a certificate signed by the President or Chief Financial Officer of Borrower, in his personal capacity, to the effect that such projections have been prepared on the basis of sound financial planning practice consistent with past budgets and financial statements and that such officer has no reason to question the reasonableness of any material assumptions on which such projections were prepared.

  • 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 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 “C”. 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.

  • Budget Consulting Engineer/Architect shall advise City if, in its opinion, the amount budgeted for construction is not sufficient to adequately design and construct the improvement as requested.

  • 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. (b) Each Operating Budget delivered pursuant to this Section 1.12 shall contain Operating Budget Categories, and shall specify for each Fiscal Quarter and for each such Operating Budget Category the amount budgeted for such category for such Fiscal Quarter.

  • Annual Operating Plan Purchaser may be required to submit a written annual operating plan, as specified by, and at the request of the Forest Officer.

  • 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.

  • Staffing Plan The Board and the Association agree that optimum class size is an important aspect of the effective educational program. The Polk County School Staffing Plan shall be constructed each year according to the procedures set forth in Board Policy and, upon adoption, shall become Board Policy.

  • Business Plan and Budget As soon as available, but in any event within sixty (60) days after the end of each fiscal year of the Borrower, an annual business plan and budget of the Borrower and its Subsidiaries on a Consolidated basis, including forecasts prepared by management of the Borrower, in form reasonably satisfactory to the Lender, of Consolidated balance sheets and statements of income or operations and cash flows of the Borrower and its Subsidiaries on a fiscal year basis and, in the case of such forecasted statements of income, on a fiscal quarterly basis for the immediately following fiscal year. As to any information contained in materials furnished pursuant to Section 6.02(f), the Borrower shall not be separately required to furnish such information under Section 6.01(a) or (b) above, but the foregoing shall not be in derogation of the obligation of the Borrower to furnish the information and materials described in Sections 6.01(a) and (b) above at the times specified therein.

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