Subsequent Business Plans. 9.3.1 Each calendar year, at least [six (6) weeks] prior to the end of the Financial Year, the Management Board must prepare and submit to the Supervisory Board, for its consideration and approval, a draft of the new Business Plan in accordance with the Strategy.
Subsequent Business Plans. The Business Plan for every other Financial Year shall be:
Subsequent Business Plans. (a) After the First Business Plan has been approved, which First Business Plan shall contain cash flow projections and operating and capital budgets for, at a minimum, the following three (3) years, the Business Plan shall be updated each year to include, among all other necessary updates, a further year of cash flow projections and operating and capital budgets so that, at all times, the current Business Plan shall have, at the minimum, three (3) years of cash flow projections and capital and operating budgets.
Subsequent Business Plans. Any Business Plan or Budget for any period after the First Six Years (each, a “Subsequent Business Plan and/or Budget”) shall be established as follows:
Subsequent Business Plans. (a) Any change to the Business Plan where the change within any 12 month period is equal to or less than 10% of the projected operating profit, EBITDA or free cash flow of the Group (in the case of the Agreed Business Plan, in Scenario Two) for a Financial Year requires the approval of the Board in accordance with clause 8.3. Any change to the Business Plan where the change is greater than 10% of the projected operating profit, EBITDA or free cash flow of the Group (in the case of the Agreed Business Plan, in Scenario Two) for a Financial Year or which otherwise constitutes a material change to the Business Plan requires the approval of the Shareholders in accordance with clause 8.1.
Subsequent Business Plans. At least thirty (30) days prior to the beginning of each fiscal year of the Trust, an appropriate Committee(s) shall prepare for approval by the Steering Committee prior to the beginning of such fiscal year an updated Business Plan for the Venture covering the next fiscal year. In the event that an updated Business Plan is not agreed upon within the period required, the prior Business Plan shall remain in effect until such time as the an updated Business Plan is approved by the Steering Committee.
Subsequent Business Plans. 8.6. Each of the Managers hereby undertakes to procure, so far as he is able in his capacity as a shareholder and/or director of a member of the Group, that a draft business plan for the (then) next three consecutive financial years of the Group is delivered to the Board and the Investors at least [60 days] before the commencement of each financial year of the Group commencing after the Effective Time for consideration and (at their discretion) approval by the Board and by way of Shareholder Consent. Once approved, the relevant business plan shall, subject to Clause 8.7, be adopted by the Group as its "Business Plan" for the relevant financial years. Amendments to Business Plan
Subsequent Business Plans. The Board of Managers, in conjunction with the Company’s management, shall prepare and approve an updated business plan and operating budget for the Company (the “Business Plan”) covering the next fiscal year to serve as guidance for the operations of the Company. In the event that an updated Business Plan is not agreed upon within the period required, the prior Business Plan shall remain in effect until such time as the an updated Business Plan is approved by the Board of Managers.
Subsequent Business Plans. Each Shareholder undertakes to each other Shareholder and to the Company that it will exercise its rights as a holder of Shares to ensure that subsequent Business Plans will be considered and adopted in accordance with the following procedure:
Subsequent Business Plans. This Section 11.2 shall apply with respect to any Fiscal Year or Fiscal Quarter ending after the Initial Period (except that to the extent a Proposed Business Plan covers the Applicable Fiscal Quarter, the portion of the Proposed Business Plan covering the [***] Budget for such Applicable Fiscal Quarter shall be governed by Section 11.1).
