Annual Budget and Business Plan. (a) On or prior to October 31st of each calendar year, the TAM CEO and the TAM CFO shall prepare or cause to be prepared, and shall submit for approval of the TAM Board, (i) a proposed annual budget and business plan (each, an “Annual Budget and Business Plan”) for the upcoming Fiscal Year and (ii) a proposed five-year business plan for the next five Fiscal Years (each, a “Multi-Year Business Plan”), in each case for TAM and its Subsidiaries on a consolidated basis and for Multiplus S.A. on a stand-alone basis. Each of the proposed Annual Budget and Business Plan and Multi-Year Business Plan shall include all of the applicable items set forth in Schedule 3.06 and be in a format acceptable to the TAM Board.
Annual Budget and Business Plan. The annual budget and business plan for the current Fiscal Year and the business plan for the next five Fiscal Years of Holdco 1 (collectively, the “Holdco 1 Plans”) at all times shall be identical to the annual budget and business plan and the five-year business plan for the next five fiscal years then in effect for TAM and its Subsidiaries. The Holdco 1 Board shall cause Holdco 1 and its Subsidiaries to operate in accordance with, and the officers and employees of Holdco 1 and its Subsidiaries to implement, the Holdco 1 Plans and shall conduct, or cause to be conducted, the business of Holdco 1 and its Subsidiaries in accordance with any such Holdco 1 Plans.
Annual Budget and Business Plan. The Company shall provide each Major Investor as soon as practicable, but in any event at least thirty (30) days prior to the end of each fiscal year, a budget and business plan for the next fiscal year, prepared on a monthly basis, including balance sheets, projected profit or loss for the year and sources and applications of funds statements for such months, and as soon as prepared, any other budgets or revised budgets prepared by the Company.
Annual Budget and Business Plan. Prior to the beginning of each fiscal year, the Board shall prepare a business plan and budget for the succeeding fiscal year that shall be approved by the holders of (i) a majority of the Series A Preferred Stock, voting as a separate class, or (ii) if a majority of the outstanding aggregate principal amount of Collective Senior Notes shall not have been converted into Series A Preferred Stock at such time, a majority of the then outstanding aggregate principal balance of the Collective Senior Notes.
Annual Budget and Business Plan. So long as an Investor (and its affiliates) holds at least 100,000 shares of the Company’s Preferred Stock (or Common Stock issued or issuable upon conversion of Preferred Stock, or combination thereof), the Company shall provide, as soon as practicable, but in any event thirty (30) days prior to the end of each fiscal year, a budget and business plan for the next fiscal year, prepared on a monthly basis, including balance sheets and sources and applications of funds statements for such months, and as soon as prepared, any other budgets or revised budgets prepared by the Company.
Annual Budget and Business Plan an annual budget and business plan for the succeeding fiscal year for the Company Group, setting forth the projected balance sheets, income statements and statements of cash flows for each month during such period; the projected budget for operation of business; any dividend or distribution to be declared or paid; the projected incurrence, assumption or refinancing of indebtedness; projected revenue and profit for each month during such period; merger, consolidation, reorganization, or amalgamation of any Group Company with or into any other Person or any scheme of arrangement or other business combination with or into any other Person; all payments projected to be made not in the ordinary course of business of any of the Group Companies; and all other material matters relating to the operation, development and business of the Group Companies;
Annual Budget and Business Plan. Furnish to such Investors ------------------------------- as soon as practicable and in any event no later 30 days after the close of each fiscal year of the Company, an annual operating plan and budget, prepared on such basis as the Company deems reasonable (but including quarterly forecasts), for the next immediate fiscal year.
Annual Budget and Business Plan. (a) The Board, together with the board of the US Acquisition Co. shall cause the Westinghouse Group to prepare an annual budget (the “Annual Budget”) in accordance with a calendar to be set by Toshiba from time to time to schedule the preparation of an annual budget of Toshiba and its Affiliates (the “Toshiba Budget Calendar”). The initial Annual Budget shall be prepared, as soon as practicable after the PSA Closing and shall be promptly delivered thereafter to the Shareholders. The Owner Board shall be responsible for monitoring the implementation of the Annual Budget at least once every fiscal quarter.
Annual Budget and Business Plan. 8.1 The Group shall conduct its business at all times in accordance with the Business Plan and the Annual Budget.
Annual Budget and Business Plan. PHC-SUB shall be authorized to incur any operational, capital or other expense approved by the Joint Policy Board pursuant to the Annual Budget. PHC- SUB shall be required to seek the approval of the Joint Policy Board to incur an expense exceeding the budgeted amounts specified in the annual business plan and budget unless: (i) the expense is reasonable and does not exceed a line item expense specified in the Annual Budget by more than twenty percent (20%) for any twelve (12) month period; (ii) the total expenses for the applicable budget year, on an annualized basis, do not exceed the total amount budgeted for such year by more than ten percent (10%); or (iii) the expenditure is consented to by the Joint Policy Board or the Practice. Notwithstanding the foregoing, PHC-SUB may exceed budgeted amounts in the event the increase in the expenditure is reasonable and is the result of an event beyond the control of PHC-SUB (e.g., increases in tax rates or utility charges, Acts of God, strikes and labor disputes) provided that PHC-SUB shall provide notice of such a situation to the Practice.
