The Business Plan. 6.1 The Company must adopt a Business Plan for each Financial Year except for any Financial Year where the Council by ordinary resolution disapplies this requirement.
6.2 The Board is responsible for preparing, reviewing and updating any Business Plan.
6.3 In accordance with the Shareholder Reserved Matters, the Council must approve the adoption of any Business Plan and any revision or update thereof ahead of adoption by the Board.
6.4 The Company shall consult the Named Officer of the Council ahead of presenting a Business Plan or revision or update thereof to the Council for approval under clause 6.3.
The Business Plan. The Management Committee and the General Manager shall conduct the business of the Company in accordance with the three year Business Plans and the Annual Budgets (each as defined below), as adjusted from time to time by the Management Committee. The financial model for the operation of the Company and the Channels, as annually updated pursuant to Section 6.1.2, is the “Business Plan.”
The Business Plan. 2.1 The current Business Plan is set out in Annex1.
2.2 The Business Plan:-
2.2.1 sets all the outputs of the Organisation, the key performance requirements of the Services and includes the performance standards and target timescales expected;
2.2.2 includes the overall strategy and objectives of the Organisation and how the Organisation will deliver the key strategic goals of the Council and the community the Council represents;
2.2.3 details the financial and staffing resources required to enable the Organisation to deliver the Business Plan and perform the Services with skill, care and diligence;
2.2.4 shall promote effective performance and efficiency having regard to value for money and best value principles; and
2.2.5 provides a summary of the past year’s achievements and performance targets.
The Business Plan. Evidence that all insurance policies are in existence as required under this Agreement and any of the Securities and where applicable, that the Agent's interest has been noted thereon and if requested certified copies of each such insurance policy.
The Business Plan. 4.1 The Asset Manager shall prepare and submit to the Company an initial Business Plan for the Company’s approval within 20 Business Days from the date of this Agreement.
4.2 The Asset Manager shall review the Business Plan and recommend amendments to it on each anniversary of the date of this Agreement (or more regularly if the Company thinks fit). The Asset Manager shall consult with the Company in respect of any such amendments and following such consultation shall submit all such proposed amendments to the Company for approval.
4.3 The Asset Manager shall provide the Services in accordance with the Business Plan.
The Business Plan. (a) For each Fiscal Year during the Term, the Managing Member shall prepare a business plan (the "Business Plan") for the Property to be approved by the non-Managing Member. Each Business Plan shall be comprised of an operating budget (each, an "Operating Budget)"; a capital improvement budget (each, a "Capital Budget"; the Operating Budget and the Capital Budget are collectively, the "Budgets") and leasing guidelines (the "Leasing Guidelines"). Each Operating Budget shall show, on a month-by-month basis, in reasonable detail, each line item of anticipated income and expense required to be made with respect to the Property during such Fiscal Year including, without limitation, amounts required to establish, maintain and/or increase Cash Reserves. Each Capital Budget shall show, in reasonable detail, anticipated expenditures for Capital Improvements with respect to the Property or any portion thereof. The Leasing Guidelines shall specify the projected net average effective rent over the projected term of each Lease on a space-by-space basis, taking into account base rent, the term of the Lease, leasing commissions due to all outside leasing brokers and as set forth in the Management Agreement (including overrides to Managing Agent), tenant improvements, free rent and any other tenant concessions. For the sake of clarity, the parties confirm that the Managing Member need not furnish Leasing Guidelines for any space at the Property that is leased or is not reasonably anticipated to become available for leasing during such Fiscal Year.
(b) Except with respect to the 2002 Business Plan (as hereinafter defined), not later than October 15th of each Fiscal Year during the term of this Agreement, the Managing Member shall prepare and deliver to the other Members a draft Business Plan. Not later than November 1 of each Fiscal Year during the term of this Agreement, the Managing Member shall prepare and deliver to the other Members a revised Business Plan for the following Fiscal Year, reflecting any of Managing Member's revisions to the draft Business Plan. Within 30 days after delivery of such revised Business Plan, the Unaffiliated Members shall in writing, either approve the entire revised Business Plan, in which case such revised Business Plan shall constitute the "Business Plan", or shall disapprove, modify or otherwise comment on specific items contained therein (collectively, the "Comments"), which Comments shall be accompanied by a statement of the reasons t...
The Business Plan. The Borrower shall comply, and cause its Subsidiaries to comply, in all material respects with the Business Plan. The Borrower shall not change, amend or otherwise modify the Business Plan without the prior written consent of the Lender.
The Business Plan. 9.1 The Business Plan is an annual business plan for JVC prepared by JVC and it shall include in relation to the Financial Year to which it relates:
(a) a cashflow statement providing:
(i) an estimate of working capital requirements; and
(ii) an indication of the amount (if any) that it is considered prudent to retain, for the purpose of meeting those requirements, out of the profits of the previous Financial Year that are available for distribution to the Shareholders;
(b) a monthly projected profit and loss account (to be consolidated in relation to the JVC Group, as appropriate);
(c) an operating budget (including capital expenditure requirements) and balance sheet forecast;
(d) a management report providing business objectives for such Financial Year and the next two Financial Years as a whole; and
(e) a financial report which shall include an analysis of the actual and estimated results of JVC or the JVC Group (as the case may be) for the previous Financial Year compared with the Business Plan for that year, identifying variations in sales revenues, costs and other material items.
9.2 The Business Plan for every Financial Year shall be:
(a) prepared by management of JVC within 45 days before the end of the preceding Financial Year; and
(b) adopted and approved by the board of directors as soon as practicable after it has been prepared and in any event no later than the beginning of the Financial Year to which such Business Plan relates.
The Business Plan. 11.1 The Business Plan is an annual business plan for SCH prepared by the Chief Executive Officer and/or SCH and it shall include in relation to the Financial Year to which it relates (to the extent required):
(a) An operating budget (including sources of funding) and cashflow statement;
(b) a monthly projected profit and loss account;
(c) a management report giving business objectives for the year;
(d) a financial report which shall include an analysis of the estimated results of SCH for the previous Financial Year compared with the Business Plan for that year, identifying variations against budget, in sales revenues, costs and other material items; and
(e) if appropriate, a provision for the distribution of dividends for the Financial Year (if any) having taken into account the principles in clause 13 of this Agreement.
11.2 The Business Plan shall be adjusted from time to time as the case requires and as approved by the Board of Directors as provided in Schedule 2.
11.3 The Business Plan for every other Financial Year shall be:
(a) prepared by the Chief Executive Officer at least 30 day before the end of the preceding Financial Year (the first day being the first day of the Financial Year to which the plan relates); and
(b) adopted and approved by the Board of Directors as provided in Schedule 2 as soon as possible after it has been prepared.
The Business Plan. The Business shall be conducted in accordance with the Business Plan.
