Current Business Plan definition

Current Business Plan means the business plan of the Company and its Subsidiaries for the current Financial Year in the agreed form;

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Current Business Plan means a business plan or guideline, whether or not written, and the Approved Budget (as defined below), in each case as so amended, modified, suspended or supplemented as of any specified date. Any such amendment, modification, suspension or supplement shall be effective upon the delivery of reasonable prior notice of the same to Asset Manager. Further, each of the Companies shall have the sole and exclusive authority to instruct the Asset Manager and amend, modify, suspend, supplement or rescind any instruction directed to Asset Manager under this Agreement. In those situations or matters in which, in the reasonable judgment of the Company, it is not in the best interest of the Company to have the Asset Manager involved in such situations or matters, then the Company shall have the right to direct the Asset Manager not to be involved in such situations or matters. The Asset Manager shall only become obligated to comply with any such instruction (or amendment, modification, supplement, suspension or rescission thereof) at such time until such is actually communicated to Asset Manager. Asset Manager shall be entitled to rely on, and Asset Manager shall not be liable for, any actions taken in accordance with, any instruction until a reasonable time after it actually receives notice that the same has been amended, modified, suspended, supplemented or rescinded. Asset Manager shall not commit any of the Managed Assets to any expenditure of any monies or execute and deliver any agreements, documents or instruments binding (or purporting to bind) any of the Managed Assets without the express authorization of the Company unless the same is in accordance with the then Current Business Plan (other than material contracts (which contracts shall be determined as determined by the Asset Manager in its reasonable judgment) which shall require the written consent of the applicable Company) and with respect to any expenditures of any monies, in accordance with the Approved Budget set forth in such Current Business Plan. It being agreed and understood that Asset Manager shall not have any obligation to execute and deliver any agreement in the name of any of the Managed Assets.

Current Business Plan means the most recent business plan of the Company previously delivered to the Purchasers.

Examples of Current Business Plan in a sentence

• Without limitation of the foregoing, the General Manager shall be authorized and empowered, except as otherwise provided herein and subject to such limitations as the Management Committee may impose from time to time, to perform or cause to be performed, at the Partnership's expense and in its name, all operational functions relating to the Project necessary to run the business of the Partnership on a day-to-day basis consistent with this Agreement and the Current Business Plan.

• For purposes of this Agreement, "Current Business Plan" means a business plan or guideline, whether or not written, and the Approved Budget (as defined below), in each case as so amended, modified, suspended or supplemented as of any specified date.

• Each proposed business plan submitted by the General Manager as aforesaid shall be accompanied by a report describing in all material respects the manner in which such proposed business plan, insofar as it relates to the period covered by the Current Business Plan, deviates from the Current Business Plan.

• In furtherance of the foregoing, the Asset Manager shall, in consultation with and subject to the instruction and approval of the Companies, develop and implement the then Current Business Plan with respect to the Managed Assets.

• Notwithstanding any provision of this Agreement to the contrary, each of the Companies shall have the sole and exclusive authority to at any time and from time to time amend, modify, suspend or supplement the then Current Business Plan with respect to the Managed Assets.

• In connection with its decision to reject all or a portion of any Capital Request as contemplated hereby, the Management Committee shall consider whether one or more modifications of the Current Business Plan are necessary or appropriate.

• Subject to the prior approval of the Companies and consistent with the Current Business Plan, Asset Manager, on behalf of the Companies or any Platform, shall be entitled to subcontract with third parties for property management, brokerage, accounting, data processing, legal, engineering, environmental, investment banking, market research, appraisal, file reviews, due diligence or other similar services in connection with its obligations, if any, under this Agreement.

More Definitions of Current Business Plan

Current Business Plan means the five (5) year business plan of the Company which is effective as of the date hereof and attached hereto as Exhibit C.

Current Business Plan has the meaning given in Section 4.14. “Director” means a member of the Board of Directors. “Dispute” has the meaning given in Section 10.2.1.

Current Business Plan means the Business Plan most recently approved by the Management Committee in accordance with Section 7.7 (b), as modified by the Management Committee from time to time in accordance with Section 7.7(e).