Process for Succeeding Budgets Sample Clauses

Process for Succeeding Budgets. Annually and at least forty- five (45) days prior to the commencement of each fiscal year of Business Manager, Business Manager, in consultation with the Policy Board, shall prepare and deliver to Practice for Practice's approval a proposed Budget, setting forth an estimate of Practice's revenues and expenses for the upcoming fiscal year (including, without limitation, the Dispensary Business Budgeted Practice Expense, the Principal Services Budgeted Practice Expense, the Dispensary Business Monthly Fee and the Principal Services Monthly Fee). Practice shall review the proposed Budget and either approve the proposed Budget or request any changes within fifteen (15) days after receiving the proposed Budget. The Budget shall be adopted by Practice after reasonable review and comment and may be revised or modified only in consultation with Business Manager. Once approved each succeeding Budget shall be attached hereto and made a part hereof.
Sample 1Sample 2Sample 3See All (14)
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Process for Succeeding Budgets. Annually and at least thirty (30) days prior to the commencement of each fiscal year of PC, Business Manager, in consultation with PC's representative to the Policy Board, shall prepare and deliver to PC for PC's approval a proposed Budget, setting forth an estimate of PC's revenues and expenses for the upcoming fiscal year (including, without limitation, the Management Fee and Performance Fee associated with the services provided by Business Manager hereunder). PC shall review the proposed Budget and either approve the proposed Budget or request any changes within fifteen (15) days after receiving the proposed Budget. The Budget shall be adopted by PC after its approval thereof and may be revised or modified only in consultation with the Business Manager.
Sample 1Sample 2See All (6)
Process for Succeeding Budgets. Annually and at least thirty (30) days prior to the commencement of each fiscal year of PC, Business Manager, in consultation with PC, shall prepare and deliver to PC for PC's approval a proposed Budget, setting forth an estimate of PC's revenues and expenses for the upcoming fiscal year (including, without limitation, the cash requirements to operate the business, including the payment of expenses, and the Management Fee associated with the services provided by Business Manager hereunder). PC shall review the proposed Budget and either approve the proposed Budget or request any changes within fifteen (15) days after receiving the proposed Budget. The Budget shall be adopted by PC after its approval thereof and may be revised or modified only in consultation with the Business Manager. PC shall not be in default of any of its obligations hereunder if PC fails to perform because it lacks sufficient funds to perform its required functions.
Sample 1
Process for Succeeding Budgets. Annually and at least forty- five (45) days prior to the commencement of each fiscal year of Business Manager, Business Manager, in consultation with the Policy Board, shall prepare and deliver to Practice for Practice's approval a proposed Budget, setting forth an estimate of Practice's revenues and expenses for the upcoming fiscal year (including, without limitation, the Budgeted Practice Expense and the Monthly Fee). Practice shall review the proposed Budget and either approve the proposed Budget or request any changes within fifteen (15) days after receiving the proposed Budget. The Budget shall be adopted upon mutual agreement of Business Manager and Practice after reasonable review and comment, and may be revised or modified only in consultation with Business Manager. Once approved by both Business Manager and Practice, each succeeding Budget shall be attached hereto and made a part hereof.
Sample 1
Process for Succeeding Budgets. Annually and at least thirty ------------------------------ (30) days prior to the commencement of each fiscal year of PA, Business Manager, in consultation with PA's representative to the Policy Board, shall prepare and deliver to PA for PA's approval a proposed Budget, setting forth an estimate of PA's revenues and expenses for the upcoming fiscal year (including, without limitation, the Management Fee and Performance Fee associated with the services provided by Business Manager hereunder). PA shall review the proposed Budget and either approve the proposed Budget or request any changes within fifteen (15) days after receiving the proposed Budget. The Budget shall be adopted by PA after its approval thereof and may be revised or modified only in consultation with the Business Manager.
Sample 1
Process for Succeeding Budgets. Annually and at least thirty (30) days prior to the commencement of each fiscal year of New PA, Business Manager, in consultation with New PA's representatives to the Policy Board (or Joint Policy Board), shall prepare and deliver to New PA for New PA's approval a proposed Budget, setting forth an estimate of New PA's revenues and expenses for the upcoming fiscal year (including, without limitation, the Management Fee and Performance Fee associated with the services provided by Business Manager hereunder). New PA shall review the proposed Budget and either approve the proposed Budget or request any changes within twenty-one (21) days after receiving the proposed Budget. Upon the Budget's adoption by New PA after reasonable review and comment, the Budget may be revised or modified only after consultation with the Business ----------------- *This information has been omitted from this exhibit and is subject to a request for confidential treatment. In accordance with Rule 24b-2 under the Securities Exchange Act of 1934, as amended, such information has been filed separately with the Securities and Exchange Commission.
Sample 1
Process for Succeeding Budgets. Annually and at least thirty (30) days prior to the commencement of each fiscal year of PA, Business Manager, in consultation with PA's representative to the Policy Board, shall prepare and deliver to PA for PA's approval
Sample 1
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Process for Succeeding Budgets. For any Successive Term, Provider will prepare in good faith an annual budget reflecting, in detail reasonably acceptable to the County, (i) the anticipated revenues and expenses for the Successive Term and (ii) the sources and uses of capital for growth in the Center and the Center’s expenses. The budgets shall be prepared to reflect the County as the payor of last resort for the Services, Facility, Center, and any other costs associated with operation of the Center. Provider shall present the proposed budget for the Successive Term to the County for review by April 1 of the preceding fiscal year or as otherwise requested by the County, and shall thereafter present any proposed modifications to be incorporated into the proposed final budget no later than the date reasonably determined by the County and communicated to Provider. All proposed budgets and proposed modifications thereto shall be subject to the reasonable approval by the County; provided, however, such approval shall not limit or modify the County’s rights stated elsewhere in this Agreement. Provider will respond promptly to requests for information or modifications in connection with any proposed budget submitted to the County. If Provider receives written notice of budget disapproval, Provider shall submit a revised proposed budget to the County for approval in the manner set forth above. In the event the County and Provider are unable to finalize a budget by the beginning of the fiscal year, until it is finalized, the budget from the prior year will be deemed to be adopted as the budget for the current year.
Sample 1

Related to Process for Succeeding Budgets

  • Accounting for Profits Employee covenants and agrees that if he violates the provisions of Sections 7, 9, 11, or 12 the Company shall be entitled to an accounting and repayment of all profits, compensation, commissions, remuneration or other benefits that Employee has realized and/or may realize as a result of or in connection with any such violation. These remedies shall be in addition and not in limitation of any injunctive relief or other rights or remedies to which the Company is or may be entitled at law, in equity or under this Agreement.

  • Operating Budgets Manager has submitted to Owner, for Owner's ----------------- approval, a proposed operating budget for the ensuing partial fiscal year ("Operating Budget"). Hereafter, Manager shall, not less than forty-five (45) days prior to the commencement of each full fiscal year, submit to Owner, for Owner's approval, a proposed Operating Budget for the ensuing full or partial fiscal year, as the case may be. Each Operating Budget shall be accompanied by, and shall include, a business plan which shall describe business objectives and strategies for the period covered by the Operating Budget. The business plan shall include, without limitation, an analysis of the market area in which the Hotel competes, a comparison of the Hotel and its business with competitive hotels, an analysis of categories of potential guests, and a description of sales and marketing activities designed to achieve and implement identified objectives and strategies. Fee Owner shall have no right to approve any Operating Budget. Owner's approval of the Operating Budget shall not be unreasonably withheld and shall be deemed given unless a specific written objection thereto is delivered by Owner to Manager within fifteen (15) days after submission. Owner shall review the Operating Budget on a line-by-line basis. To be effective, any notice which disapproves a proposed Operating Budget must contain specific objections in reasonable detail to individual line items. If the initial Operating Budget contains disputed budget item(s), said item(s) shall be deemed adopted until Owner and Manager have resolved the item(s) objected to by Owner or the Accountant(s) (hereinafter defined in Section 10.02) have resolved the item(s) objected to by Owner. Thereafter, if Owner disapproves or raises objections to a proposed Operating Budget in the manner and within the time period provided therefor, and Owner and Manager are unable to resolve the disputed or objectionable matters submitted by Owner prior to the commencement of the applicable fiscal year, the undisputed portions of the proposed Operating Budget shall be deemed to be adopted and approved and the corresponding line item contained in the Operating Budget for the preceding fiscal year shall be adjusted as set forth herein and shall be substituted in lieu of the disputed items in the proposed Operating Budget. Those line items which are in dispute shall be determined by increasing the preceding fiscal year's corresponding line items by an amount determined by Manager which does not exceed the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the United States Department of Labor, U.S. City Average, all items (1984-1986=100) for the fiscal year prior to the fiscal year with respect to which the adjustment to the line item is being calculated or any successor or replacement index thereto. The resulting Operating Budget obtained in accordance with the preceding sentence shall be deemed to be the Operating Budget in effect until such time as Manager and Owner have resolved the items objected to by Owner.

  • Accounting Methods and Financial Records Maintain a system of accounting, and keep such books, records and accounts (which shall be true and complete in all material respects) as may be required or as may be necessary to permit the preparation of financial statements in accordance with GAAP and in compliance with the regulations of any Governmental Authority having jurisdiction over it or any of its properties.

  • CAPITAL CHANGES AND BUSINESS SUCCESSIONS The Plan contains provisions covering the treatment of options in a number of contingencies such as stock splits and mergers. Provisions in the Plan for adjustment with respect to stock subject to options and the related provisions with respect to successors to the business of the Company are hereby made applicable hereunder and are incorporated herein by reference.

  • Accounting Methods Implement or adopt any material change in its accounting principles, practices or methods, other than as may be required by GAAP or any Governmental Entity.

  • Grammatical Conventions Whenever the context so requires, each pronoun or verb used herein shall be construed in the singular or the plural sense and each capitalized term defined herein and each pronoun used herein shall be construed in the masculine, feminine or neuter sense.

  • Operating Budget (a) No less than forty-five (45) days prior to the Substantial Completion of each train of the Project, and no less than forty-five (45) days prior to the beginning of each calendar year thereafter, the Borrower shall prepare a proposed operating plan and a budget setting forth in reasonable detail the projected requirements for Operation and Maintenance Expenses for the Borrower and the Project for the ensuing calendar year (or, in the case of the initial Operating Budget, the remaining portion thereof) and provide the Independent Engineer, the Common Security Trustee, and the Senior Facility Agent with a copy of such operating plan and budget (the “Operating Budget”). Each Operating Budget shall be prepared in accordance with a form approved by the Independent Engineer, shall set forth all material assumptions used in the preparation of such Operating Budget, and shall become effective upon approval of the Senior Facility Agent, acting reasonably and in consultation with the Independent Engineer; provided, that if the Senior Facility Agent shall not have approved or disapproved the Operating Budget within thirty (30) days after receipt thereof, such Operating Budget shall be deemed to have been approved; and provided, further that the Senior Facility Agent shall have neither the right nor the obligation to approve costs for Gas purchase contracts for the Project contained in the Operating Budget. If the Borrower does not have an effective annual Operating Budget before the beginning of any calendar year, until such proposed Operating Budget is approved, the Operating Budget most recently in effect shall continue to apply; provided, that (A) any items of the proposed Operating Budget that have been approved shall be given effect in substitution of the corresponding items in the Operating Budget most recently in effect, (B) costs for Gas purchase contracts for the Project shall be as provided by the Borrower and (C) all other items shall be increased by the lesser of (x) two and one-half percent (2.5%) and (y) the increase proposed by the Borrower for such item in such proposed Operating Budget.

  • Accounting Services The Manager will provide all accounting services customarily required by investment companies, in accordance with the requirements of applicable laws, rules and regulations and with the policies and practices of each Series as communicated to the Manager from time to time, including, but not limited to, the following:

  • Mergers, Consolidations or Sales No Obligated Party shall enter into any transaction of merger, reorganization, or consolidation, or transfer, sell, assign, lease, or otherwise Dispose of all or any part of its property, or sell or issue any of its preferred Capital Stock, or wind up, liquidate, or dissolve, or agree to do any of the foregoing, except for (A) sales and other Dispositions of Inventory in the ordinary course of its business, (B) sales or other Dispositions of Equipment in the ordinary course of business that is (1) damaged, worn out, unserviceable, or obsolete, (2) no longer necessary for the proper conduct of business with a good faith estimated value not in excess of $100,000 in any Fiscal Year of Xxxxx, or (3) contemporaneously replaced with Equipment of comparable utility, in each case in the ordinary course of business and operations of the Obligated Parties and on a basis consistent with past practices, (C) the sale of the helicopter that is the subject of the Aircraft Mortgage or the Cessna 525 aircraft (serial number 525-0341); provided that the purchase price received by the relevant Obligated Party for each such aircraft shall not be less than the fair market value of such aircraft and at least 75% of the purchase price therefor shall be payable in cash on the closing date of such sale or by the assumption of Debt secured by such aircraft, (D) payments of cash in the ordinary course of business and as otherwise permitted by this Agreement, and (E) subject to Section 8.10, other transactions between or among the Obligated Parties in the ordinary course of each Obligated Party’s business consistent with past practices; provided that, notwithstanding the foregoing or any other provision of this Agreement, as long as no Default or Event of Default exists or would result therefrom and provided Xxxxx gives the Agents prior written notice:

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