Budgets and Forecasts. Not later than 30 days following the approval of a consolidated budget for any fiscal year by the Board of Directors of the Borrower, a consolidated budget in reasonable detail for each of the four fiscal quarters of such 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.
Budgets and Forecasts. When and as available, but in any event within forty-five (45) days after the beginning of each fiscal year, an annual business plan and budget and forecasts of the Borrower and its Subsidiaries containing, among other things, pro forma financial statements for such fiscal year and projections of the Borrower’s Availability with supporting projected Borrowing Base calculations, for the next fiscal year, on a calendar month by month basis, in each case, together with a statement of all underlying assumptions.
Budgets and Forecasts. Only if requested by Lender and then upon Lender’s request, copies of the projected operating budgets and forecasts for the Property for the ensuing year containing such detail as Lender shall reasonably require which, which shall be prepared and certified as true, correct and complete by an appropriate officer of the Managing Member of Borrower.
Budgets and Forecasts. Not later than 45 days after the end of, and no earlier than 60 days prior to the end of, each fiscal year of Holdings and its Subsidiaries, commencing with the fiscal year ending December 31, 2020, a consolidated budget in reasonable detail and otherwise in form and substance reasonably acceptable to the Administrative Agent for each of the four fiscal quarters of the following fiscal year.
Budgets and Forecasts. In addition to and separate from the JDA Budget and Work Plan, Manager will (i) establish a budget pursuant to which the Services will be provided, subject to approval thereof by the Board pursuant to the LLC Agreement and (ii) monitor and reconcile the receipts, income and expenditures to such Services budget.
Budgets and Forecasts. On or before November 1 of each year, Operator shall prepare and submit to the Partnership Committee of Company for review, approval, or modification the following annual budgets and forecasts:
Budgets and Forecasts. Each Party shall cause its respective FEB representative to, at a frequency that aligns with their state’s budget cycle for the fiscal year; develop a budget estimate corresponding to the anticipated scope and quantity of Support Services by component costs over a period of three (3) years. Parties agree that the CEC will establish, based on recommendations by the PMO and FEB, material variance metrics which will be used by the PMO to identify potential financial risk to the Consortium. The PMO in conjunction with the CEC respective representative(s) shall prepare and present an annual budget during the third quarter of the fiscal year to be determined by CEC. The PMO shall provide status updates at each quarterly meeting of the CEC thereafter. The Consortium budget shall be disseminated by the PMO to the CEC members and posted on a member accessible website at least ten (10) business days prior to the CEC meeting. Parties commit to submit budgets to the PMO annually and they must include a summary which amalgamates each state’s internal costs related to Support Services and identify associated assumptions, risks, and contingent budgets for uncontrollable for unforeseen events. Each Party understands that the budget will be evaluated by the PMO, who will ensure that risks to the Consortium are identified and included in the risk management process as appropriate. Using information provided by the FEB, each Party agrees that the PMO shall provide each quarter, the cost by component for Support Services, along with the calculations supporting its allocation. Within thirty (30) days of being provided the cost components, each Party agrees to submit for review to the FEB a six (6) quarter rolling forecast which outlines the future obligations and financial commitments for the state to members and providers. Each Party understands that once reviewed, the forecasts submitted will be consolidated by PMO, compared to the latest budget, and included in the agenda at the next scheduled meeting of the CEC. Parties understand that member’s FEB representatives will be required to be available ring CEC discussions where budgets and forecasts are on the agenda. Each Party commits to conduct and document the results of a biannual internal review of their finances, comparing actuals to budgets and forecasts as well as their performance to procurements, and submitting a summary of the results to the PMO, with the state maintaining copies of the detailed supporting documenta...
Budgets and Forecasts. In preparing all budgets and forecasts to be submitted to the Facility Entities hereunder, Managers will base its estimates upon the most recent and reliable information then available, taking into account the location of each Facility and its experience in other comparable assisted living facilities.