Approved Business Plan. (1) Not later than 45 days before the commencement of each fiscal quarter, the Company shall prepare and submit to the Purchaser a Business Plan for such quarter that complies with the Mandatory Requirements and the Initial Approved Business Plan.
Approved Business Plan. “Approved Business Plan” means a Business Plan approved by the Board as a Major Decision pursuant to Section 9.2.
Approved Business Plan. Subject to clause (i) of the definition of “Major Decisions” on Schedule 6, the Managing Member may amend the Approved Business Plan from time to time in its sole discretion. The Managing Member shall provide the Co-Investor Members with written notice of any material amendment to the Approved Business Plan (it being agreed that such notice requirement shall not derogate from clause (i) of the definition of “Major Decisions” on Schedule 6).
Approved Business Plan. Within 30 days after the date of this Agreement, the Company shall deliver to the Investor a draft of the Business Plan for 1997-1998, and the Company and the Investor shall exercise reasonable efforts to reach agreement on the Approved Business Plan.
Approved Business Plan. The Members have approved an annual business plan for the Company through the end of the 2018 Fiscal Year as set forth in the Side Letter Agreement. Each annual business plan for each Fiscal Year shall include (i) a narrative description of the Company’s business objectives for such Fiscal Year, which shall include any major transaction proposed to be undertaken by the Company or any Subsidiary for such Fiscal Year, (ii) the initial pro forma for the Campus (the “Pro Forma”), which shall set forth the projected development and construction costs, gross operating income and operating expenses to be realized or incurred in connection with the completion of the Spec Buildings and the operation of the Campus, (iii) a description of any anticipated capital expenditures for each quarter of the upcoming year, (iv) a statement of projected cash flows on a quarterly basis, (v) a description of the required level or range of reserves and their intended and permitted uses, (vi) a leasing plan, which includes the leasing parameters under which any unoccupied portion of the buildings contained in the Campus shall be offered for lease (as amended from time-to-time as part of the Approved Business Plan, the “Leasing Parameters”), and a narrative description of any marketing and/or any leasing activities proposed to be undertaken, (vii) the initial Operating Budget described in Section 2.09, and (viii) any other information the Manager determines is necessary to keep the Executive Committee reasonably informed regarding the business and affairs of the Company and each Subsidiary. The annual business plan may contain one (1) or more elements that shall survive the entire term of the Company, subject to any revisions approved by the Executive Committee. The Manager shall prepare and submit to the Executive Committee and the SW Member at least thirty (30) days prior to the commencement of the 2019 Fiscal Year and each Fiscal Year thereafter, an updated annual business plan pertaining to such Fiscal Year. Each updated annual business plan including, without limitation, any revised Operating Budget shall be subject to the review and approval of the Executive Committee, which approval may be withheld in each Voting Member’s sole and absolute discretion. If any updated annual business plan is not approved by the Executive Committee, then the applicable Approved Business Plan shall continue to remain in effect (as modified for any portion of the updated annual business plan appro...
Approved Business Plan. The Executive Committee shall cooperate in good faith to approve a Business Plan for each Fiscal Year, subject to approval of the NSAM Designees (to the extent required) in accordance with Section 5.3(c). An initial draft of the Business Plan with respect to any Fiscal Year (other than 2015) shall be delivered to NSAM Member no later than November 1 of the immediately preceding Fiscal Year. If a Business Plan with respect to any Fiscal Year is not approved by December 31 of the immediately preceding Fiscal Year, then the most recent Approved Business Plan shall continue to be in effect, except as follows, without duplication: (a) to the extent specific line items of the Business Plan have been approved in accordance with the applicable provisions of this Section 5.4, the budget for such specific line items shall be as so approved; and (b) until approved as provided in the foregoing clause (a) or the adoption of a new Approved Business Plan, the total budget for such Fiscal Year shall be increased by five percent (5%) over the aggregate budgeted amount set forth in the Approved Business Plan for the prior Fiscal Year, which the parties hereto agree may be allocated among the various expenses set forth in such Approved Business Plan in the reasonable discretion of the Executive Committee; provided, that Necessary Expenses may be reasonably incurred without any limitation or approval so long as NSAM Member and AHI Member are immediately notified of such expenses. Any proposed revision to an Approved Business Plan shall be submitted to the Executive Committee for its approval, subject to obtaining any approval of the NSAM Designees required under Section 5.3(c), and upon approval of such revision to the extent required by this Agreement, the Approved Business Plan, as so revised, shall thereafter constitute the Approved Business Plan for the period covered thereby.
Approved Business Plan. In the event the Approved Business Plan has not been prepared prior to the date hereof and attached Exhibit F hereto, the Managing Member, within sixty (60) days after the Effective Date, shall prepare an annual business plan for the Company for the remainder of the 2013 fiscal year, which shall be approved by the Members and attached hereto as Exhibit F. On or before the last business day of November of each fiscal year of the Company, the Managing Member shall submit a new annual business plan for the ensuing fiscal year to all of the Members for review and approval. Each annual business plan shall include, without limitation, (i) a narrative description of the proposed objectives and goals for the Company, which shall include a description of any major transaction to be undertaken by the Company for such fiscal year (or other period); (ii) a Development Plan and Development Budget as described in Section 2.08 for any Improvements that are being developed and constructed by the Company; (iii) the status of the construction of any Improvements that are being developed and constructed by the Company; (iv) following the date that any Improvements that are being constructed by the Company are ninety percent (90%) complete (as reasonably determined by the Managing Member), an Operating Budget, as more particularly described in Section 2.11 below; and (v) such other items as are agreed to by the Members. The annual business plan for the applicable fiscal year (or other period) that is approved by the Members is referred to as the “Approved Business Plan.”
Approved Business Plan. The term “Approved Business Plan” is defined in Section 2.06.
Approved Business Plan. 1116763.08/OC 373745-00002/0-0-00/pdo/agt 60 54430-10898/2652216.4
Approved Business Plan. (a) [Intentionally omitted].
