ANNUAL BUDGETS AND FORECASTS Sample Clauses

ANNUAL BUDGETS AND FORECASTS. Not later than 45 days after the commencement of the first fiscal quarter in any fiscal year of the Borrower and its Subsidiaries, a consolidated budget in reasonable detail for such entire fiscal year, and (if and to the extent prepared by management of the Borrower) for any subsequent fiscal years, as customarily prepared by management for its internal use, setting forth, with appropriate discussion, the forecasted balance sheet, income statement, operating cash flows and capital expenditures of the Borrower and its Subsidiaries for the period covered thereby, and the principal assumptions upon which forecasts and budget are based.
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ANNUAL BUDGETS AND FORECASTS. AUGI has determined to make the Advances available to the Purchaser on the basis of annual budgets and forecasts previously supplied to AUGI by the Company and Xxxxxxxxxxx; provided, that (i) the annual budgets and forecasts shall be updated by the Company and Xxxxxxxxxxx for the forty-eight (48) month period (based on AUGI's fiscal year ending July 31st) commencing on August 1, 1996 and ending on July 31, 2000, (ii) such updated annual budgets and forecasts for such period (the "Corporation's Budget"), which shall be satisfactory to AUGI in form and detail and in substance, shall have been received by AUGI prior to the Closing Date, and (iii) the timing of any Advance to the Purchaser shall be based upon satisfaction of the requirements established in the Corporation's Budget unless otherwise mutually agreed by the Purchaser's Board of Directors and AUGI's Board of Directors, it being understood and agreed that drawings of Advances which are not in accordance with the terms and conditions of the Corporation's Budget will not be made available by AUGI without the prior written approval of AUGI's Board of Directors. AUGI acknowledges that neither the budgets, the projections and information underlying the same, nor any other matter in connection with such budgets and projections, shall constitute a representation or warranty by the Seller or Xxxxxxxxxxx.
ANNUAL BUDGETS AND FORECASTS. Finish annual budgets and forecasts for the Borrower to the Bank within one hundred twenty (120) days after the end of each fiscal year of the Borrower.
ANNUAL BUDGETS AND FORECASTS. AUGI has determined to make the Advances available to the Surviving Corporation on the basis of annual budgets and forecasts previously supplied to AUGI by the Company and the Principal Stockholders; provided, that (i) the annual budgets and forecasts shall be updated by the Company and the Principal Stockholders for the forty-eight (48) month period (based on AUGI's fiscal year ending July 31st) commencing on August 1, 1996 and ending on July 31, 2000, (ii) such updated annual budgets and forecasts for such period (the "Corporation's Budget"), which shall be satisfactory to AUGI in form and detail and in substance, shall have been received by AUGI prior to the date of this Agreement, and (iii) the timing of any Advance to the Surviving Corporation shall be based upon satisfaction of the requirements established in the Corporation's Budget unless otherwise mutually agreed by the Surviving Corporation's Board of Directors and AUGI's Board of Directors, it being understood and agreed that drawings of Advances which are not in accordance with the terms and conditions of the Corporation's Budget will not be made available by AUGI without the prior written approval of AUGI's Board of Directors. In determining Pre- Tax Income (as such term is hereinafter defined), no consideration shall be given to interest or dividends accrued or payable with respect to any Advances made by AUGI; provided, that such Pre-Tax Income shall be after deduction of all interest paid or accrued on money borrowed by the Surviving Corporation from any unaffiliated third party. As used herein, the term "Pre-Tax Income" shall mean the net income of the Surviving Corporation after deduction of all expenses paid or accrued for the appropriate period in accordance with GAAP (including compensation paid to the Principal Stockholders under their respective employment agreements with the Surviving Corporation), but before application of all federal, state, and local income taxes, for the four fiscal years ending July 31, 2000, and also as modified pursuant to the preceding sentence, all as determined by the auditors engaged to audit the financial statements of the Surviving Corporation and AUGI. AUGI acknowledges that neither the budgets, the projections and information underlying the same, nor any other matter in connection with such budgets and projections, shall constitute a representation or warranty by the Principal Stockholders.

Related to ANNUAL BUDGETS AND FORECASTS

  • 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.

  • Budgets Borrower shall have delivered, and Lender shall have approved, the Annual Budget for the current Fiscal Year.

  • Annual Forecasts As soon as available and in any event no later than 90 days after the end of each Fiscal Year, forecasts prepared by management of the Borrower, in form satisfactory to the Administrative Agent, of balance sheets, income statements and cash flow statements on an annual basis for the Fiscal Year following such Fiscal Year.

  • Annual Projections No later than thirty (30) days prior to the beginning of each Fiscal Year, the Borrowers shall deliver to Administrative Agent projected balance sheets, statements of income and cash flow for the Borrowers, for each of the twelve (12) months during such Fiscal Year, which shall include the assumptions used therein, together with appropriate supporting details as reasonably requested by Administrative Agent.

  • Budget The System Agency allocated share by State Fiscal Year is as follows:

  • Business Plan The Lenders shall have received a satisfactory business plan for fiscal years 1999-2006 and a satisfactory written analysis of the business and prospects of the Borrower and its Subsidiaries for the period from the Closing Date through the final maturity of the Term Loans.

  • Annual Budget (a) The Company and its Subsidiaries shall be operated in accordance with an annual budget, as it may be annually updated from time to time pursuant to this Section 3 (the “Annual Budget”). The initial Annual Budget for the period beginning on the Effective Date and ending on December 31, 2018, including the related variances, is attached hereto as Schedule B-1 (the “Initial Annual Budget”). For each Fiscal Year thereafter, the Asset Manager shall be responsible for preparing and submitting to the Company Board for approval as a Major Decision in accordance with the terms of the Company LLC Agreement a proposed updated Annual Budget, including the related variances. The Annual Budget shall be prepared by the Asset Manager in accordance with the protocols (including the preparation of the back-up materials on the timetable set forth therein) set forth on Schedule B-2 hereto (the “Budget Development Protocols”). 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. In connection with the review of a proposed Annual Budget, the Preferred Board Members may reasonably request additional information regarding the materials supporting the proposed Annual Budget or such other information as is necessary or desirable to enable review of such proposed Annual Budget, and the Asset Manager shall provide such requested information. The Preferred Board Members shall consent to or reject the proposed Annual Budget, or request additional information (as provided for above), within ten (10) Business Days following (i) receipt of such proposed Annual Budget or (ii) receipt of all additional information that is, in the determination of the Preferred Board Members, necessary or desirable to enable review of such proposed Annual Budget. The Asset Manager shall comply with the Budget Development Protocols regarding the Preliminary Budget for each Fiscal Year. The Annual Budget shall be prepared and submitted annually by the Asset Manager no later than December 10, 2018 for the next Fiscal Year and thereafter by December 10 of each year with respect to the following Fiscal Year. The Annual Budget for each Fiscal Year shall include use of the pre-funded reserve amounts as shown on Schedule B-3 hereto for the four Fiscal Quarters comprising such Fiscal Year. In connection with the submission of the Annual Budget, the Asset Manager shall also prepare and submit to the Company Board an annual business plan for Parent and its Subsidiaries, including a responsible five-year operations forecast, including the operating metrics set forth on Schedule B-4 hereto (the “Annual Plan”). The Preferred Board Members, or their designated representatives, shall be provided reasonable access to all information, data, reports, models and analyses relied on in developing the Annual Plan (including, for the avoidance of doubt, all financial and silvicultural assumptions, constraints, supporting stand level data, merchantable timber volumes, pre-merchantable acres by species and age class, and acres by land classification).

  • Forecast Customer shall provide Flextronics, on a monthly basis, a rolling twelve (12) month forecast indicating Customer’s monthly Product requirements. The first ninety (90) days of the forecast shall be in weekly time buckets and will constitute Customer’s written purchase order for all Work to be completed within the first ninety (90) day period. Such purchase orders will be issued in accordance with Section 3.2 below.

  • Forecasts Any forecasts provided by DXC shall not constitute a commitment of any type by DXC.

  • Operating Budgets Manager has submitted to Owner, for Owner's approval, a proposed operating budget for the ensuing full or partial fiscal year, as the case may be ("Operating Budget"). Hereafter, Manager shall, not less than forty-five (45) days prior to the commencement of each full fiscal year, submit to Owner, for Owner's approval, a proposed Operating Budget for the ensuing full or partial fiscal year, as the case may be. Each Operating Budget shall be accompanied by, and shall include, a business plan which shall describe business objectives and strategies for the period covered by the Operating Budget. The business plan shall include, without limitation, an analysis of the market area in which the Hotel competes, a comparison of the Hotel and its business with competitive hotels, an analysis of categories of potential guests, and a description of sales and marketing activities designed to achieve and implement identified objectives and strategies. Fee Owner shall have no right to approve any Operating Budget. Owner's approval of the Operating Budget shall not be unreasonably withheld and shall be deemed given unless a specific written objection thereto is delivered by Owner to Manager within fifteen (15) days after submission. Owner shall review the Operating Budget on a line-by-line basis. To be effective, any notice which disapproves a proposed Operating Budget must contain specific objections in reasonable detail to individual line items. If the initial Operating Budget contains disputed budget item(s), said item(s) shall be deemed adopted until Owner and Manager have resolved the item(s) objected to by Owner or the Accountant(s) (hereinafter defined in Section 10.02) have resolved the item(s) objected to by Owner. Thereafter, if Owner disapproves or raises objections to a proposed Operating Budget in the manner and within the time period provided therefor, and Owner and Manager are unable to resolve the disputed or objectionable matters submitted by Owner prior to the commencement of the applicable fiscal year, the undisputed portions of the proposed Operating Budget shall be deemed to be adopted and approved and the corresponding line item contained in the Operating Budget for the preceding fiscal year shall be adjusted as set forth herein and shall be substituted in lieu of the disputed items in the proposed Operating Budget. Those line items which are in dispute shall be determined by increasing the preceding fiscal year's corresponding line items by an amount determined by Manager which does not exceed the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the United States Department of Labor, U.S. City Average, all items (1984-1986=100) for the fiscal year prior to the fiscal year with respect to which the adjustment to the line item is being calculated or any successor or replacement index thereto. The resulting Operating Budget obtained in accordance with the preceding sentence shall be deemed to be the Operating Budget in effect until such time as Manager and Owner have resolved the items objected to by Owner. Manager shall revise the Operating Budget from time to time, as necessary, to reflect any unpredicted significant changes, variables or

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