Annual Operating Budgets. Borrower shall submit to Lender Annual Operating Budgets at those times and in such form and substance as set forth in the definition of "Annual Operating Budget" in this Agreement.
Annual Operating Budgets. As soon as available and in any event within 30 days after the close of each calendar year of the Company and each Qualified Lessee (other than a Consolidated Qualified Lessee), as the case may be,, the annual budget of the Company and its Subsidiaries and each Qualified Lessee, as applicable.
Annual Operating Budgets. As soon as available and in any event within 30 days after the close of each fiscal year of each of Sharyland and SDTS, the annual budget of each of Sharyland and SDTS.
Annual Operating Budgets. On or before November 30 of each calendar year during the existence of the Partnership, commencing on November 30, 1996, the Managing Partner shall provide to Ardee (i) a proposed Operating Budget for the next Amphitheater Fiscal Year setting forth in reasonable detail the various categories of Operating Expenses and the budgeted amounts for each such category to be incurred by the Partnership during such Amphitheater Fiscal Year and (ii) such reasonable information and materials related to the proposed Operating Budget as may be reasonably requested by Ardee. If a final Operating Budget for any Amphitheater Fiscal Year is not adopted by mutual agreement between the Partners within thirty (30) days after submission by the Managing Partner of a proposed Operating Budget for such Amphitheater Fiscal Year, then, so long as no such final Operating Budget has been mutually approved, the Operating Budget for such Amphitheater Fiscal Year shall be deemed to include all line items as to which unanimous agreement between the Partners has been reached and, with respect to each other line item, the Operating Budget for such Amphitheater Fiscal Year shall be deemed to be the greater of (i) the smallest amount for such line item approved by the Partners, (ii) the amount for the same line items specified in the Operating Budget for the immediately preceding Amphitheater Fiscal Year with such line item increased in the same proportion and amount by which the CPI Index most recently reported prior to the first day of such Amphitheater Fiscal Year exceeds the CPI Index most recently reported prior to the first day of the immediately preceding Amphitheater Fiscal Year or (iii) if such Operating Budget relates to the first Amphitheater Fiscal Year following the last Non-Expanded Amphitheater Season, the amount for the same line item specified in the Operating Budget for the immediately preceding Amphitheater Fiscal Year with such line item increased in such amount as is necessary to address increased operational or logistical requirements attributable to the expansion of the Amphitheater's capacity as a result of the Renovation Work. For purposes hereof, the Operating Budget for the first Amphitheater Fiscal Year shall be deemed to be a budget of Operating Expenses containing the actual amount of Operating Expenses paid and incurred by the Partnership during the first Amphitheater Fiscal Year.
Annual Operating Budgets. The Partners shall jointly approve an annual operating budget for the Partnership as promptly as practicable after the date hereof for the first Operating Year and thereafter at least thirty days prior to the beginning of each subsequent Operating Year. The Partners shall jointly agree on a range of projected gross box office receipts to be utilized in formulating the operating budget. Based on the agreed upon range of projected gross box office receipts, (i) the Booking Agent shall prepare a pro forma budget for all costs of film rental and of booking film, including all charges payable to the Booking Agent pursuant to this Agreement, and (ii) the Operating Agent shall prepare a pro forma budget for all costs pertaining to the operation and maintenance of each Theatre Property. These budgets shall be combined in a pro forma operating budget. The individual line items in the pro forma operating budget may be expressed as a range of dollar amounts, a fixed percentage of box office sales and/or concession sales, or a range of such percentages. Unless both Partners jointly agree otherwise, each such pro forma operating budget shall be substantially in the same form as the Approved Budget in effect for the prior Operating Year (exclusive of extraordinary items in the Approved Budget for the prior Operating Year) and shall set forth costs on an annual basis for each Theatre Property. Each pro forma operating budget must be jointly approved by both Partners. Any pro forma operating budget so approved shall be deemed to be an “Approved Operating Budget” • for the period covered by such budget. Notwithstanding the foregoing, each Approved Operating Budget shall provide for the expenditure, at the Operating Agent’s discretion, of up to 1% of total revenues of all Partnership Theatre Properties in the preceding year for maintenance, repairs, replacement and refurbishment of the Theatre Properties (the “Guaranteed Repair and Replacement Fund”). The Star Partner shall not be entitled to disapprove the Guaranteed Repair and Replacement Fund.
Annual Operating Budgets. Attached hereto as Exhibit "B" is the Operating Budget for the Amphitheater Fiscal Year ending on December 31, 1997. On or before November 30 of each calendar year, commencing on November 30, 1997, the Partnership's Accounting Staff shall prepare and provide to the Representatives (i) a proposed Operating Budget for the forthcoming Amphitheater Fiscal Year setting forth in reasonable detail the various categories of Budgeted Operating Expenses and the amounts for each such category to be incurred by the Partnership during the forthcoming Amphitheater Fiscal Year and (ii) such information and materials related to the proposed Operating Budget as may be requested by any of the Representatives so long as such information and materials can be generated in the ordinary course of business. To be adopted, a proposed Operating Budget must be approved by the Executive Committee; however, if no Operating Budget is approved by the Executive Committee for any Amphitheater Fiscal Year prior to the commencement of such Amphitheater Fiscal Year, then the Operating Budget for such Amphitheater Fiscal Year shall be deemed to be, until a different Operating Budget is approved by the Executive Committee, the Operating Budget for the prior Amphitheater Fiscal Year with each line item increased by the greater of (i) 5% or (ii) the percentage increase in the CPI Index during the immediately preceding Amphitheater Fiscal Year.
Annual Operating Budgets. (a) The Fiscal Year of the Company shall be the calendar year. Not later than September 30 of each Fiscal Year (commencing on September 30, 1998), the Chief Executive Officer shall submit to the Board for its approval a proposed operating budget (each a "Proposed Budget") for the subsequent Fiscal Year. Each Proposed Budget shall include at least the following information for the next succeeding Fiscal Year of the Company broken down on a quarterly basis:
Annual Operating Budgets as soon as available and, in any event, within 90 days after the end of each of its fiscal years, a copy of its annual consolidated operating budget for the next fiscal year (approved by the board of directors of the Borrower);
Annual Operating Budgets. 33 10.2 SUPPLY AGREEMENTS........................................................................... 34 10.3 THIRD PARTY CLAIMS.......................................................................... 34
Annual Operating Budgets. Not later than 90 days following the execution of this Agreement, the Executive Committee shall approve, in accordance with the provisions of Section 5.6, an initial annual operating budget for the 1998 calendar year (the "Initial 15 Operating Budget"). The Representatives shall present a revised annual operating budget for approval by the Executive Committee not later than November 1 of each year preceding the year covered by the proposed budget, and the Executive Committee shall approve the annual operating budget by December 1 of each year in accordance with the provisions of Section 5.6.
