Initial Annual Budget definition

Initial Annual Budget shall have the meaning set forth in Section 3(a).

Initial Annual Budget has the meaning ascribed thereto in Section 6.13.1 of this Agreement.

Initial Annual Budget shall be as defined as set forth in Article XI, Section 4 of this Agreement.

Examples of Initial Annual Budget in a sentence

• The Annual Budget for each Fiscal Year shall be prepared with the same detail and line items as set forth in the Initial Annual Budget and such other detail as the members of the Company Board appointed by the Preferred Partners in accordance with Section 4.3(c) of the Parent LP Agreement (the “Preferred Board Members”) may reasonably request.

• The Annual Budget for each Fiscal Year shall be prepared with the same detail and line items as set forth in the Initial Annual Budget and such other detail as Preferred Board Members may reasonably request.

• The Annual Budget for each Fiscal Year shall be prepared with the same detail and line items as set forth in the Initial Annual Budget and such other detail as Board Members appointed by the Preferred Partners may reasonably request.

• Each proposed Annual Budget shall be in substantially the same format as the Initial Annual Budget, unless the Management Committee requests otherwise.

• Initial Annual Budget - $250,000Collections,$5,000 , 2% Administration & Operations,$37,500 , 15%Contingency & Renewal, $12,500 , 5% Transportation & Visitor Services,$20,000 , 8% Sales & Marketing,$150,000 , 60% Sports & Outdoor Recreation,$25,000 , 10% Although actual revenues will fluctuate due to market conditions, the proportional allocations of the budget shall remain the same.

More Definitions of Initial Annual Budget

Initial Annual Budget shall have the meaning given to it in Clause 8.1 (Annual Budget and Business Plan);

Initial Annual Budget has the meaning given in Section 4.8.

Initial Annual Budget means the annual budget attached hereto as Exhibit C.

Initial Annual Budget means the initial annual budget in the Agreed Terms as appended at schedule 10; "Insolvency Event" means in relation to a person, that such person:

Initial Annual Budget means the initial annual budget of the Group.

Initial Annual Budget has the meaning set out in Clause 13.5; “Initial Business Plan” has the meaning set out in Clause 13.5; “Investor” has the meaning set out in the Parties’ section; "Investor Controlling Shareholders" means the GIP Investor and the KKR Investor as well as the Investor’s direct and indirect Controlling shareholders which are directly or indirectly Controlled by the GIP Investor or the KKR Investor, respectively. "Investor DPLTA/Squeeze-out Cost Share" means an amount equal to the overall costs to be borne by VF Germany under Clauses 13.4.1. and 13.4.2 multiplied with the percentage of Investor's shareholding in MidCo 1 from time to time; “Investor Equity Contribution” means an amount in Euro equal to [***]; “Investor Equity Contribution Capital Increase” has the meaning set out in Clause 7.2.1(i); “Investor Group” means the Investor and its Affiliates excluding VTG Group and AcquiCo Group; “Investor Warranty” or “Investor Warranties” has the meaning set out in Clause 9; “IP Rights” means patents, utility models, rights in inventions, know-how and trade secrets, trade marks, service marks, rights in trade names and business names, logos and rights in get-ups, rights in the goodwill, copyrights (including rights in software and rights in and to software codes), database rights and rights in data, design rights, domain names and URLs, and all other intellectual property rights and similar rights in any part of the world, in each

Initial Annual Budget means the annual budget of the Company for the Financial Year of the Company in which the date of the Agreement occurs, as set out in the Business Plan; “Initial Business Plan” has the meaning as set out in Clause 19.1.1; “Initiating Shareholder” has the meaning set out in Clause 15.1.1; [***] [***] [***]