Annual Plans and Budgets Clause Samples

The "Annual Plans and Budgets" clause establishes the requirement for an organization or partnership to prepare, review, and approve a detailed plan and budget for each fiscal year. Typically, this involves outlining projected activities, goals, and associated financial allocations, which must be submitted for approval by a governing body or committee before the start of the year. This clause ensures that all parties have a clear understanding of the upcoming year's objectives and financial commitments, promoting transparency, accountability, and effective resource management.
Annual Plans and Budgets. The Operator shall, commencing with the Commencement of Commercial Production, submit to the Management Committee annual Plans and Budgets respecting activities required to continue with or complete, as the case may be, Production. A Management Committee meeting shall be called not less than 14 nor more than 60 days after receipt by the Participants of copies of such Plans and Budgets to consider the submissions from the Operator and any submissions from the Participants and to approve such annual Plans and Budgets. All expenses incurred for or on account of such Plans and Budgets shall be Joint Venture Expenses.
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Annual Plans and Budgets. In the case of any PM&Es which provide for the expenditure of funds for measures and programs as agreed upon from time to time by the Management Committee, Avista will file each year or at such other times as FERC finds appropriate: (1) a plan which shows the amounts of money proposed to be spent or contributed including the purposes for which the expenditures are to be made and (2) a subsequent statement showing the amounts actually spent or contributed during the relevant period of time. Such plans and statements will be submitted to the Management Committee for approval prior to being submitted to FERC.
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Annual Plans and Budgets. (a) For each Accounting Year, the General Manager shall prepare an annual implementation plan of the Agreed Business Plan and a budget for the Company including all costs and expenses to be incurred in carrying on the business of the Company in that Accounting Year. (b) The annual implementation plan and budget shall be prepared in accordance with generally accepted commercial accounting standards and practices and as directed by the Board. (c) The annual implementation plan and budget shall be submitted to the Board for review and approval no later than 90 days before the beginning of each Accounting Year. The approved implementation plan and budget is to be periodically submitted to the Board for review and discussion throughout the Accounting Year. If after commencement of an Accounting Year, the Board has not approved the budget for such year, the Company shall operate based on 80% of the budget of the previous year approved by the Board until the Board approved the budget for such Accounting Year.
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Annual Plans and Budgets. The Association shall maintain the Private Road strictly in conformance with the annual operating budget approved from time to time by the Municipality pursuant to this Agreement.
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Annual Plans and Budgets. The General Manager, assisted by the other Management Personnel, shall be responsible for the preparation of the annual business plan and budget of the Company. The annual business plan and budget (including the projected balance sheet, profit and loss statement and cash transaction report) for each fiscal year shall be submitted to the Board and shall include comprehensive detailed information on: (a) the procurement of equipment and other assets of the Company; (b) the raising and application of funds; (c) plans with respect to production and sale of Joint Venture Products; (d) the repair and maintenance of the assets and equipment of the Joint Venture Company; (e) the estimated income and expenditures of the Company covered by the production plan and budget; (f) plans for training the staff and workers of the Company; (g) requirements of materials, fuel, water, electricity and other utilities, and all other inputs for the next year's production; (h) plans for the proportion of foreign currency sales; (i) plans for balancing foreign exchange receipts and expenditures; and (j) any other matter in respect of which the Board may have requested a report. The General Manager shall prepare a monthly management report containing such information as shall be requested by the Board.
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Annual Plans and Budgets. During the Term of the Development Program, TWT shall prepare and provide to the JDC a reasonably detailed Annual Plan and Budget pursuant to which TWT's performance of the Development Program and Services will be carried out. The Annual Plan and Budget shall specify the objectives and work plan activities with respect to: (i) subject to 3.5 below, the Development Program, including the headcount of Development Personnel and other costs and expenses of the Development Program (e.g., consultants and third party contractors) and (ii) the Services, and the Service Costs and Service Personnel for such Services, including consultants and third party contractors and facilities with respect thereto.
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Annual Plans and Budgets. 1. The Implementing Entity shall prepare and furnish to the Bank not later than March 1 of each Fiscal Year, an annual Operation activity and expenditure plan and budget, for implementation of the Operation during the following year, except for the annual plan and budget for the first year which shall be furnished prior to the commencement of the relevant activities under the Operation. 2. The Implementing Entity shall exchange views with the Bank on each such proposed annual plan/budget for the Operation, and shall thereafter adopt said plan/budget for such following fiscal year, as such plan/budget may be subsequently revised during such following fiscal year with the prior agreement of the Bank.
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Related to Annual Plans and Budgets

  • Annual Work Plans and Budgets The Recipient shall furnish to the Association as soon as available, but in any case not later than September 1 of each year, the annual work plan and budget for the Project for each subsequent year of Project implementation, of such scope and detail as the Association shall have reasonably requested, except for the annual work plan and budget for the Project for the first year of Project implementation, which shall be furnished no later than one (1) month after the Effective Date.

  • Operating Budgets (i) The Borrowers shall, not later than thirty (30) days before the Commercial Operation Date for any Plant, adopt an Operating Budget with respect to such Plant and an updated aggregate Operating Budget for the Project from such date to the conclusion of the calendar year immediately following the then-current calendar year and provide a copy of such operating plan and budget at such time to the Administrative Agent. (ii) No less than sixty (60) days in advance of the beginning of each calendar year with respect to each Plant that has achieved its Commercial Operation Date, the Borrowers shall similarly adopt an operating plan and a budget setting forth in reasonable detail the projected requirements for Operation and Maintenance Expenses and Maintenance Capital Expenses for the ensuing two (2) calendar years for each Plant that has achieved its Commercial Operation Date and an aggregate operating plan and budget for the Project and provide a copy of each such operating plan and budget at such time to the Administrative Agent. (Each such operating plan and budget is herein called an "Operating Budget"). (iii) Each Operating Budget shall include the same items and detail as provided in the Financial Model and be prepared in accordance with a form similar to the Madera Operating Budget delivered on the Closing Date (or a form otherwise approved by the Administrative Agent) and shall become effective upon approval of the Administrative Agent (acting in consultation with the Consultants if the Administrative Agent reasonably determines that such consultation is necessary or desirable). The Administrative Agent's approval of such updated Operating Budgets shall not be unreasonably withheld or delayed. (iv) If the Borrowers have not adopted an annual Operating Budget covering the applicable two-year period for each Plant that has achieved its Commercial Operation Date and for the Project before the beginning of any calendar year following the Madera Funding or any Operating Budget adopted by the Borrowers has not been accepted by the Administrative Agent before the beginning of any upcoming calendar year, the Operating Budget for each relevant Plant for the preceding calendar year shall, until the adoption of an annual Operating Budget by the Borrowers and acceptance of such Operating Budget by the Administrative Agent, be deemed to be in force and effective as the annual Operating Budget for such Plant for such upcoming calendar year; provided that if the initial Operating Budget for any Plant is not approved by the Administrative Agent, the Borrowers may use a budget for such Plant that is consistent with the Financial Model until an initial Operating Budget is approved, and the Borrowers shall work diligently to prepare an initial Operating Budget for each Plant that is acceptable to the Administrative Agent. (v) If either the actual Operation and Maintenance Expenses or Maintenance Capital Expenses for any Fiscal Quarter is in excess of the applicable Permitted Operating Budget Deviation Levels, the Borrowers may deliver to the Administrative Agent and the Consultants a proposed updated Operating Budget(s), which shall be subject to approval by the Administrative Agent. Such proposed updated Operating Budget(s) shall not become effective until approved by the Administrative Agent. (vi) Each Operating Budget delivered to the Administrative Agent pursuant to this Section 7.01(j) shall be accompanied by a memorandum addressing all material deviations from the Financial Model.