ANNUAL OPERATING Clause Samples

The Annual Operating clause defines the procedures and requirements for the ongoing, yearly management and operation of a business or project. It typically outlines the preparation and approval of annual operating budgets, the allocation of resources, and the reporting of operational results. This clause ensures that all parties have a clear understanding of how operations will be managed each year, promoting transparency and accountability in the ongoing administration of the agreement.
ANNUAL OPERATING. PLAN shall mean a plan developed at the State, Geographic, or local levels for the implementation of administrative or operational practices or concerns.
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ANNUAL OPERATING. BUSINESS PLAN: no later than 15 days prior to the end of each fiscal year of the Borrower and until the first fiscal year ending after the date on which EBITDA is greater than zero for two successive Fiscal Quarters, a proposed annual operating business plan containing the statements listed in items (i) through (vi) in this paragraph and the exhibits contained in the Approved Full-Term Operating Business Plan delivered pursuant to Section 10.1(p) for the next-succeeding fiscal year, which annual operating business plan shall contain: (i) internally prepared statements of income and expense of the Borrower and its Subsidiaries in reasonable detail for the applicable period prepared in all material aspects in accordance with GAAP (except for the absence of footnotes); (ii) a schedule of all Capital Expenditures of the Borrower and its Subsidiaries estimated to be made during the period; (iii) a statement of the amounts and times by which the Borrower and its Subsidiaries need to raise additional capital to meet their obligations when due during the period; (iv) projected balance sheets of the Borrower and its Subsidiaries; (v) projected cash flow statements of the Borrower and its Subsidiaries; and (vi) a statement listing all assumptions which formed the basis for (i) through (v), each together with supporting schedules in sufficient detail as needed and in all material aspects in accordance with the Approved Full-Term Operating Business Plan delivered pursuant to Section 10.1(p) and on a consistent basis;
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ANNUAL OPERATING. “Annual Operating Contribution “shall mean those amounts Contribution necessary to fund the expenses of the Alliance.
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ANNUAL OPERATING. PLAN shall mean a plan developed at the State, Geographic, or local levels for implementing the Cooperative Fire Management Agreement (CFMA) in their respective areas of responsibility.
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ANNUAL OPERATING. Budget Each Borrower shall, as quickly as practicable, but in any event within fourteen (14) days after the approval of the Annual Operating Budget in respect of a financial year, deliver to the Facility Agent in sufficient copies for the Banks of such Annual Operating Budget(s), together with a written explanation of such Annual Operating Budget(s).
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Related to ANNUAL OPERATING

  • Annual Operating Plan Purchaser may be required to submit a written annual operating plan, as specified by, and at the request of the Forest Officer.

  • Annual Operating Budget Borrower shall prepare and deliver to Lender, within thirty (30) days prior to the beginning of each calendar year, an annual expenditure budget for (A) Borrower and its Subsidiaries and (B) each Property, and in each case showing, in reasonable detail (i) each line item of anticipated income and operating expenses, including amounts required to establish, maintain, and/or increase reserves, and (ii) each line item of anticipated Capital Expenditures (“Operating Budget”). The Operating Budget shall also include a business plan (“Business Plan”) for Borrower’s and its Subsidiaries’ proposed operations during the forthcoming calendar year which shall include a projection of income and expenses for the coming year(“Projections”). The Operating Budget shall be prepared and submitted in a form reasonably acceptable to Lender. The Operating Budget for each Property through December 31, 2006 is attached hereto as Exhibit G. Lender shall have the right at any time following the occurrence and during the continuance of an Event of Default to approve each Operating Budget in Lender’s reasonable discretion. In the event that Lender objects to the proposed Operating Budget submitted by Borrower, Lender shall advise Borrower of such objections within fifteen (15) Business Days after receipt thereof (and deliver to Borrower a reasonably detailed description of such objection) and Borrower shall promptly revise such Operating Budget and resubmit the same to Lender. Lender shall advise Borrower of any objections to such revised Operating Budget within ten (10) Business Days after receipt thereof (and deliver to Borrower a reasonably detailed description of such objection) and Borrower shall promptly revise the same in accordance with the process described in this sentence until Lender approves an Operating Budget. Each such Operating Budget approved by Lender in accordance with terms hereof shall hereinafter be referred to as an “Approved Operating Budget.”

  • Commercial Operation (i) On or before December 31, 2021, Interconnection Customer must demonstrate commercial operation of all generating units. Demonstrating commercial operation includes achieving Initial Operation in accordance with Section 1.4 of Appendix 2 to this ISA and making commercial sales or use of energy, as well as, if applicable, obtaining capacity qualification in accordance with the requirements of the Reliability Assurance Agreement Among Load Serving Entities in the PJM Region.

  • Annual Operating Budget and Financial Projections Within sixty (60) days after the end of each fiscal year of Borrower Representative (and promptly and within five (5) days of any material modification thereto), an annual operating budgets, on a consolidating basis (including income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borrower Representative, as approved by Borrower Representative’s Board, together with any related business forecasts used in the preparation of such annual financial projections.

  • Maximum Annual Operating Expense Limit The Maximum Annual Operating Expense Limit with respect to each Fund shall be the amount specified in Schedule A based on a percentage of the average daily net assets of each Fund.