Proposed Operating Plan definition
Examples of Proposed Operating Plan in a sentence
The Proposed Operating Plan will contain forecasts of production, sales, income, operating expenses, capital expenditures, cash flows, EBITDA, headcount, and operational activities of the Company that will be necessary during such Fiscal Year to achieve operational targets and maintain the Company’s assets in good order and enable the Company to realize the Approved Strategic Business Plan.
Upon its approval by the Board, in accordance with Section 8.6(c) (Board Action in General), such Proposed Operating Plan (as modified by the Board) shall become the “Approved Operating Plan” of the Company for the relevant Fiscal Year.
The Owners, as part of the process of approving the Proposed Operating Plan & Budget, shall set reasonable annual performance standards for the Operator within one or more Key Performance Indicators listed on Schedule 5.02(b)(i).
Similarly, in the event the Enterprise does not approve the Proposed Operating Plan before commencement of the Fiscal Year, the Approved Operating Plan for the prior Fiscal Year shall be deemed to be in effect for that Fiscal Year until such time as the Enterprise approves the Proposed Operating Plan.
Not later than forty-five (45) days prior to the date of Commercial Operation and thereafter not later than July 1st of each year during the Term, Operator shall prepare and deliver to Owners the Proposed Operating Plan & Budget for performing the Services during the period beginning with the date of Commercial Operation and for the remainder of the year in which such date occurs, in the first instance, and during the following year in each subsequent case.
The Proposed Operating Plan shall include an operating budget and a capital budget setting forth in detail the amounts required to fund the Company’s operations and capital projects for the following Fiscal Year.
The budget components of the Proposed Operating Plan & Budget shall be prepared on a cost basis and shall include: (1) an estimate, on a monthly as well as an annual basis, of the Operating Expenses, prepared pursuant to the Federal Energy Regulatory Commission Uniform System of Accounts, to be incurred during the applicable period in connection with performance of the Services; and (2) a reasonable contingency separately identified and quantified.
The Enterprise may approve or disapprove of any item on the Proposed Budget and any item on or aspect of the Proposed Operating Plan.
The Board shall review the Proposed Operating Plan and shall provide Morgans Co. and Manager with any comments and objections to such Proposed Operating Plan in writing, in reasonable detail, within thirty (30) days after receipt of the Proposed Operating Plan.
If the Board cannot reach a final agreement on the Proposed Operating Plan for an Operating Year by January 1 of such Operating Year, the Board may elect to approve certain portions of such Proposed Operating Plan that are not in dispute in which case the approved portions shall become effective on January 1 of such Operating Year and the matter(s) in dispute may be submitted by either Class A Member to the Expert for resolution in accordance with Section 17.3(a)(ii).