Proposed Annual Budget. On or before December 15 of each Operating Year, Manager shall prepare and deliver to Tenant, for its review and approval, a proposed operating plan and budget for the next Operating Year. All operating plans and budgets proposed by Manager shall be prepared in good faith in accordance with budgeting and planning procedures typically employed by CEC and shall be developed and implemented in accordance with the Manager’s Standard of Care and the Operating Standard. Each operating plan and budget shall include monthly and annualized projections of each of the following items, as applicable, for the Managed Facility:
Proposed Annual Budget. On or before one hundred eighty (180) days prior to the anticipated Opening Date, Manager shall prepare and deliver to Owner, for its review and approval, a proposed operating plan and budget for the first (1st) Operating Year (which may be included in the Pre-Opening Budget), and on or before November 1 of each Operating Year thereafter, Manager shall prepare and deliver to Owner, for its review and approval, a proposed operating plan and budget for the next Operating Year. All operating plans and budgets proposed by Manager shall include projections of Gross Operating Revenue and Operating Expenses by department for such period for the Managed Facilities and shall be prepared in good faith in accordance with budgeting and planning procedures typically employed by CEOC’s operating subsidiaries. Each operating plan and budget shall include monthly and annualized projections of each of the following items, as applicable, for the Managed Facilities:
Proposed Annual Budget. On or before November 1 of each Operating Year, Manager shall prepare and deliver to Owner, for its review and approval, a proposed operating plan and budget for the next Operating Year. All operating plans and budgets proposed by Manager shall include projections of Gross Operating Revenue and Operating Costs by department for such Operating Year for the Hotel and shall be prepared in good faith in accordance with budgeting and planning procedures typically employed by operating subsidiaries of Manager and its Affiliates. Each operating plan and budget shall include monthly and annual projections of each of the following items, as applicable, for the Hotel:
Proposed Annual Budget. The portion of the operating plan and budget for the Managed Facilities in effect immediately prior to the Commencement Date that relates and applies to the period from and after the Commencement Date through and including December 31, 2014 shall apply under this Agreement as the Annual Budget for such period. Subject to reimbursement for Reimbursable Expenses in accordance with this Agreement, from the Commencement Date through the Opening Date, Manager will continue to provide the pre-opening services to the Managed Facilities in a manner and level commensurate with the pre-opening services being provided immediately prior to the Commencement Date to the Managed Facilities pursuant to the terms and conditions of the Transaction Agreement. On or before November 1 of each Operating Year, Manager shall prepare and deliver to Owner, for its review and approval, a proposed operating plan and budget for the next Operating Year. All operating plans and budgets proposed by Manager shall include (without limitation) projections of Gross Operating Revenue and Operating Expenses by department for such period for the Managed Facilities and shall be prepared in good faith in accordance with budgeting and planning procedures typically employed by CEOC’s operating subsidiaries. Each operating plan and budget shall include monthly and annualized projections of each of the following items, as applicable, for the Managed Facilities:
Proposed Annual Budget. The portion of the operating plan and budget for the Managed Facilities in effect immediately prior to the Commencement Date that relates and applies to the period from and after the Commencement Date through and including December 31, 2014 shall apply under this Agreement as the Annual Budget for such period. On or before November 1 of each Operating Year, Manager shall prepare and deliver to Owner, for its review and approval, a proposed operating plan and budget for the next Operating Year. All operating plans and budgets proposed by Manager shall include (without limitation) projections of Gross Operating Revenue and Operating Expenses by department for such period for the Managed Facilities and shall be prepared in good faith in accordance with budgeting and planning procedures typically employed by CEOC’s operating subsidiaries. Each operating plan and budget shall include monthly and annualized projections of each of the following items, as applicable, for the Managed Facilities:
Proposed Annual Budget. The proposed Annual Budget shall contain estimates of the monthly research and development, capital and operating expenditures required for execution of the proposed Annual Operating Plan for each of the twelve months in the Fiscal Year to which it applies, as well as estimates of the annual expenditures for the following 3 Fiscal Years. Each proposed Annual Budget shall be in substantially the same format as the Initial Annual Budget, unless the Management Committee requests otherwise.
Proposed Annual Budget. 1. In the preparation of the proposed Annual Budget, the estimates of Revenues and Operation and Maintenance Expenses for the next ensuing Fiscal Year shall take into consideration the historical experience; surpluses or deficits, if any, in prior years; Revenues; and the then current Annual Budget of the Aviation Fund. County and Airline shall meet between June 1st and July 1st of each Fiscal Year for the purpose of reviewing the information submitted to Airline. In such review, County will give fair and prudent consideration to Airline’s suggestions, comments or requests in negotiations with Airline with respect to the amount, character and desirability of any items contained therein, and the new rates for rentals, fees and charges for the ensuing Fiscal Year, subject to the provisions of Section 8.1(D) hereof and Section 704(b) of the Bond Resolution.
Proposed Annual Budget. By the first day of April of each year, CONTRACTOR must provide the CITY Liaison with a detailed proposed budget for CENTER for the following fiscal year (July 1st – June 30th). The proposed budget will consist of anticipated revenue and expenditures; both with a description of budget assumptions and calculations.
Proposed Annual Budget. In the months preceding the end of each calendar year, the County and USU will work together during the County’s annual budget planning period to develop a draft proposed annual operating budget of County funds dedicated to Extension Services for the upcoming year. As soon as available, but no later than January 1 of each year, the County shall provide USU with an adopted annual operating budget. Each annual operating budget adopted by the County will be in a form similar to that of the exemplary form set forth in Appendix A and shall be executed by the proper County officials, as required by the County.
Proposed Annual Budget. B. The estimates of Revenues and Operation and Maintenance Expenses for the next ensuing Fiscal Year shall be based upon the historical experience and the then current Annual Budget of Authority and shall be supported by Authority's proposed Annual Budget for the ensuing Fiscal Year. Authority and Airline shall meet between June 1st and July 1st of each Fiscal Year for the purpose of reviewing the information submitted to Airline. In such review, Authority will give fair and prudent consideration to suggestions, comments or requests by Airline with respect to additions, deletions or modifications and with respect to the amount, character and desirability of any line items contained therein, and negotiate the new fees and charges for the ensuing Fiscal Year for the purpose of reaching agreement.
