Approval of Resort Operating Plan Sample Clauses

Approval of Resort Operating Plan. Owner shall review its Resort Operating Plan and any revisions submitted by Manager in accordance with this Section 4.4 promptly upon receipt. Owner shall notify Manager of its approval or disapproval of its Resort Operating Plan within twenty (20) calendar days after receiving it. If Owner disapproves all or any portion of the Resort Operating Plan, Owner’s notice must include in detail the specific items in the Resort Operating Plan which Owner disapproves and the reasons for its disapproval, as well as those items in the Resort Operating Plan (if any) of which Owner approves. All items in the Resort Operating Plan which are thus approved by Owner shall become part of the Approved Resort Operating Plan. Manager shall resubmit a revised Resort Operating Plan to Owner within fifteen (15) days after Manager’s receipt of notice of Owner’s disapproval. The foregoing procedure shall be followed until the proposed Resort Operating Plan is fully approved by Owner. If Owner fails to timely notify Manager of its approval or disapproval of the Resort Operating Plans, Owner shall be deemed to have disapproved the Resort Operating Plan. If Owner has not approved all items in the Resort Operating Plan prior to commencement of the applicable Fiscal Year covered by it, until the new Resort Operating Plan is approved in its entirety, the items in the new Resort Operating Plan that have been approved by Owner shall become effective, and with respect to those items in the new Resort Operating Plan that have not been approved, those items shall be determined by increasing the preceding Fiscal Year’s actual expense in accordance with the Loan Agreement. The resulting Resort Operating Plan obtained in accordance with the preceding sentence shall be deemed to be the Resort Operating Plan in effect until such time as the Parties have resolved the items in dispute.
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Related to Approval of Resort Operating Plan

  • Operating Plan To Agent and Lenders, as soon as available, but not later than thirty (30) days after the end of each Fiscal Year, an annual combined operating plan (the "Operating Plan") for Parent and its Subsidiaries, approved by the Board of Directors of Parent, for the following Fiscal Year, which (i) includes a statement of all of the material assumptions on which such plan is based, (ii) includes projected monthly income statement, balance sheets and source and use of funds for the following year and (iii) Borrowing Availability projections, all prepared on the same basis and in similar detail as that on which operating results are reported (and in the case of cash flow projections, representing management's good faith estimates of future financial performance based on historical performance), and including plans for personnel, Capital Expenditures and facilities.

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  • Marketing Plan (1) No later than six (6) months prior to the date rehabilitation of the Development is projected to be complete, Borrower shall submit to the County for approval its plan for marketing the Development to income-eligible households as required by this HOME Regulatory Agreement (the "Marketing Plan"). The Marketing Plan must include information on affirmative marketing efforts and compliance with fair housing laws and 24 C.F.R. 92.351(a).

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