Budgets and Management of Funds. 9.1 The Managers shall present to the Owners annually a budget for the following twelve months in such form as the Owners require. The budget for the first year hereof is set out in Annex “C” hereto. Subsequent annual budgets shall be prepared by the Managers and submitted to the Owners not less than three months before the anniversary date of the commencement of this Agreement (see Clause 2 and Box 4).
Budgets and Management of Funds. (a) The Managers' initial budget is set out in Annex "C" hereto. Subsequent budgets shall be for twelve month periods and shall be prepared by the Managers and presented to the Owners not less than three months before the end of the budget year, on or before November 30 of each calendar year.
Budgets and Management of Funds. (a) The Managers shall prepare a budget. The budget shall also provide aggregate forecast expenditure by the Managers for those cost items to be reimbursed by Owners as detailed in Clause 12(c). The Managers’ initial budget is set out In Annex “C” hereto. Subsequent budgets shall be for twelve month periods and shall be prepared by the Managers and presented to the Owners not less than one month before the end of the budget year.
Budgets and Management of Funds. 16.1. The Managers shall present to the Owners annually a budget for the following twelve months in such form as the Owners require. Subsequent annual budgets shall be prepared by the Managers and submitted to the Owners not less than three months before the anniversary date of the commencement of this Agreement (see Clause 2.1. and Box 4).
Budgets and Management of Funds. 9.1 The Managers shall prepare annually a Budget estimating the annual Operating Costs for the following twelve months. Such budget shall include the estimated cost of anticipated drydockings schedule to be performed on the Vessels during the particular year covered by the Budget. The budget for the first year hereof is set out in Annex “C” hereto. Subsequent annual budgets shall be prepared by the Managers not less than three months before the anniversary date of the commencement of this Agreement (see Clause 2 and Box 4).
Budgets and Management of Funds. 9.1 On or before the date of the purchase of a prospective Vessel, the Manager shall provide to Euromar a budget for such vessel for the period from the date of purchase to the end of the then Fiscal Year in form satisfactory to Euromar. Thereafter, the Manager shall present to Euromar no later than five (5) Business Days prior to its November board meeting in the preceding Fiscal Year
Budgets and Management of Funds. (a) The Managers shall assist the Owner to prepare a budget with forecast gross and net revenues for the Vessel.
Budgets and Management of Funds. 9.1 The Owners are aware that the Managers will be preparing budgets in connection with, inter alia, the provision of the Management Services which the Managers will be submitting for approval to the Parent in accordance with the provisions of Article X of the Group Management Agreement.
Budgets and Management of Funds. 9.1 The Managers should this Agreement be extended as per Clause 17 shall present to the Owners annually a budget for the following twelve months in such form as the Owners require. The budget for the first 14 months here is fixed to be US$ 3,550 per day. Subsequent annual budgets shall be prepared by the Managers and submitted to the Owners not less than two months before the anniversary date of the Owners’ financial year (see Clause 2 and Box 4).
Budgets and Management of Funds. 9.1 The Managers shall present to the Owners annually a budget for the following fiscal year in the Managers´ standard format or such other form as may be mutually agreed in writing. The first budget which will be submitted will be for the period from the Effective Date to December 31st, 2017. Subsequent annual budgets shall be prepared by the Managers for each calendar/fiscal year and submitted to the Owners at least forty-five (45) days prior to the commencement of each calendar/fiscal year, in respect of that fiscal year.
