Annual Program and Budget Sample Clauses

The "Annual Program and Budget" clause establishes the requirement for the parties to agree on a detailed plan of activities and associated financial allocations for each year of the agreement. Typically, this involves preparing and approving a document that outlines the specific projects, timelines, and budgeted amounts for the upcoming year, often subject to review and mutual consent. This clause ensures that both parties have a clear understanding of their commitments and financial responsibilities, thereby promoting transparency and effective resource management throughout the term of the agreement.
Annual Program and Budget. The Board shall prepare annual programs and budgets, subject to review and approval by the Minister and Chief and Council. Such programs and budgets will be prepared in accordance with guidelines determined by the Board, in consultation with the Minister and Chief and Council, and may include anticipated requirements for: a) staff, facilities, equipment and administration; b) public meetings, consultations and hearings; c) research, publications and public education; d) technical assistance; and, e) other programs or activities as deemed necessary by the Board for the purposes of this Article.
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Annual Program and Budget. The Norway House Environmental Monitoring Agency shall, on or before September 1 in each year, submit an annual program and budget for the next fiscal year of the Trust to Chief and Council. In addition, at any time during a fiscal year of the Trust the Norway House Environmental Monitoring Agency may submit a supplementary program and budget to Chief and Council: a. in response to any environmental concern which may arise; or b. to request funds in accordance with Section 17.16 of the Indenture from the Environmental Monitoring Sub-account.
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Annual Program and Budget. 9.2.1 Not later than the 1st of September in 2003 and each Year thereafter, Operator shall submit to the Parties a proposed exploration Program and Budget for the next Year showing: (i) the projects and other work to be undertaken; (ii) the information required under the Accounting Procedure; (iii) details of the estimated number of man-days for direct labour for employees and contract personnel required; and (iv) such other information as the Operating Committee, or any Party or Parties having Percentage Interests of not less than 35% in the aggregate, may require Operator to provide. 9.2.2 The proposed exploration Program and Budget shall be subject to consideration, revision and approval by the Operating Committee. The Operating Committee shall consider such Program and Budget and make such revisions thereto as may be agreed as soon as practicable but in no event later than 1st of November. Not later than 1st of November, the Operating Committee shall approve an exploration Program and Budget and such approval shall, subject to Articles 9.3 and 9.4, authorise and obligate Operator to carry out and implement the Program and Budget.
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Annual Program and Budget. On or before September 1 in any year, except for the first year of this Agreement, the Fox Lake Resource Management Board will submit to Fox Lake and Manitoba for approval an annual program and budget for the next fiscal year, approved by the Board. Fox Lake and Manitoba each will, within ninety (90) days of receiving the annual program and budget, advise the Fox Lake Resource Management Board and the other Party in writing as to whether it accepts or rejects all or part of the annual program and budget. Where all or part of the annual program and budget is rejected by Fox Lake or Manitoba, Fox Lake or Manitoba, as the case may be, will provide reasons for its rejection, and the Fox Lake Resource Management Board will consider and submit a revised annual program and budget.
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Annual Program and Budget. For each calendar year beginning from and after the calendar year in which the Commercial Operations Date falls, at least 60 days prior to the end of that year, a Program and Budget shall be prepared by MSC’s management, as directed by the Board. Unless directed otherwise by the Board, each such proposed Program and Budget shall cover a five-year period, with the part of the Program and Budget related to the first year being substantially in the form and having substantially the same degree of detail as the Development Plan, with such changes as MSC’s management determines are then appropriate considering the stage of operation and development of the Project. Once prepared, such proposed Program and Budget shall be delivered to each of the Directors, and the Chairman shall call a regular or special meeting of the Board in accordance with Section 2.2(e) to review, discuss, and vote on such proposed Program and Budget, which meeting shall in no event be held earlier than 15 days after the delivery of such proposed Program and Budget to the Sumitomo Director(s), if any. During the time between the delivery of such proposed Program and Budget to the Sumitomo Director(s), if any, and the meeting of the Board referred to in the preceding sentence, (a) at the request of any Director, the Board shall hold an informal meeting (either in person or by conference telephone) to discuss such proposed Program and Budget, and (b) MSC’s management shall seek to develop revisions or clarifications to such proposed Program and Budget reflecting all reasonable requests, if any, of any Director with respect to such proposed Program and Budget. For the avoidance of doubt, unless the Parties agree otherwise, the approval of such Program and Budget required under Section 2.3(a)(iv) shall be in respect of the first calendar year of the five-year period covered by the proposed Program and Budget.
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Annual Program and Budget. 12.1.1 Operator shall not later than 1st September in the Year prior to the commencement of production and in each subsequent Year, submit to the Parties a proposed production Program and Budget for the next Year showing: (i) the projects and other work to be undertaken; (ii) the information necessary to satisfy the Accounting Procedure; (iii) an estimate of the date of commencement of production (if appropriate) and of the total production by Quarters and the maximum daily rate to be achieved in each Quarter; (iv) for the four (4) Years following the "next Year" referred to above Operator's best estimate of the matters referred to in (i) and (iii) above; and (v) such other information as the Operating Committee may have required Operator to provide. 12.1.2 The proposed production Program and Budget shall be subject to consideration, revision and approval by the Operating Committee provided that decisions of the Operating Committee in respect of any change to the production profile shall always be made in consideration of conditions imposed by, inter alia, the maximum economic rate of production consistent with good oilfield and reservoir engineering practices, the capacity of any field, pipeline and terminal facilities available for use, the number of wells drilled or to be drilled, th▇ development Program approved by the Government and any regulatory control imposed by the Government. The Operating Committee shall consider such production Program and Budget and make such revisions thereto as may be agreed as soon as practicable but in any event not later than 1st December. Such approval shall, subject to Articles 12.2 and 12.3 authorise and oblige Operator to carry out and implement the development Program.
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Annual Program and Budget. The Norway House Resource Management Board shall, on or before September 1 in any year, submit an annual program and budget for the next fiscal year to Norway House Cree Nation and Manitoba for approval. Within ninety (90) days of receipt of the budget, each such Party shall advise the Norway House Resource Management Board whether it accepts or rejects all or part of the annual program and budget.
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Annual Program and Budget. The Board shall, on or before September 1 in any year, submit an annual program and budget for the next fiscal year to York Factory and Manitoba for approval. Within ninety (90) days of receipt of the budget, each such Party shall advise the Board whether it accepts or rejects all or part of the annual program and budget.
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Annual Program and Budget. For information purposes, the estimated program and budget for the GoM Program for the remainder of the 2009 calendar year is as set out in Exhibit B. After discussion at the Combined Operations Council and on or before the first day of September of each calendar year, Cobalt shall deliver to Total, a proposed budget for the following calendar year outlining the GoM Program’s forecasts of the Administrative Costs, the Non-OA/Administrative GoM Expenses and, to the extent then developed, a work program and budget of Well Costs to be included on AFEs (the “Work Program and Budget”). Within twenty (20) days of such delivery, the Combined Operations Council shall meet to review and discuss the Work Program and Budget, and within thirty (30) days after such meeting, Total shall notify Cobalt as to any line item cost on the Work Program and Budget relating to Non-OA/Administrative GoM Expenses in which Total elects not to participate. If Total does not agree to participate in any Non-OA/Administrative GoM Expenses, then Total shall not be entitled to the benefits of such Non-OA/Administrative GoM Expenses to which it elected not to participate and shall not have ownership rights or access to any technical or scientific information developed, acquired or produced as a result of the incurrence by Cobalt of such Non-OA/Administrative GoM Expenses. On or before the first day of July of each year, Cobalt shall deliver to the Combined Operations Council a progress report comparing and reconciling the Work Program and Budget to actual costs and activities. In addition, Cobalt shall promptly notify Total if any line item on the Work Program and Budget is exceeded by more than ten percent (10%). The Work Program and Budget shall not require the approval of either Party, but, subject to the Exchange Agreement, each Party shall retain its rights under the applicable Operating Agreement to elect whether or not to participate in such work.
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Related to Annual Program and Budget

  • Business Plan and Budget As soon as available, but in any event within sixty (60) days after the end of each fiscal year of the Borrower, an annual business plan and budget of the Borrower and its Subsidiaries on a Consolidated basis, including forecasts prepared by management of the Borrower, in form reasonably satisfactory to the Lender, of Consolidated balance sheets and statements of income or operations and cash flows of the Borrower and its Subsidiaries on a fiscal year basis and, in the case of such forecasted statements of income, on a fiscal quarterly basis for the immediately following fiscal year. As to any information contained in materials furnished pursuant to Section 6.02(f), the Borrower shall not be separately required to furnish such information under Section 6.01(a) or (b) above, but the foregoing shall not be in derogation of the obligation of the Borrower to furnish the information and materials described in Sections 6.01(a) and (b) above at the times specified therein.

  • Development Plan document specifying the work program, schedule, and relevant investments required for the Development and the Production of a Discovery or set of Discoveries of Oil and Gas in the Contract Area, including its abandonment.

  • 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.

  • Development Budget Attached hereto as Exhibit "B" and incorporated herein by this reference is the Development Budget in an amount equal to $_____________. Owner acknowledges and represents that the attached Development Budget includes the total costs and expenses to acquire, develop, renovate and construct the Real Property and the Apartment Housing.

  • Development Plans Customer has provided Provider with a report attached hereto as Exhibit D (the “Current Development Plan”) describing in detail, as of January 1, 2017, the planned development, drilling, production, processing, treating, marketing and other activities to take place with respect to Dedicated Production and Customer Injected NGLs for the applicable Development Period. The information contained in the Current Development Plan is, with respect to the first three Years covered by the Current Development Plan, on a Quarter-by-Quarter basis, and with respect to the remaining Years covered by the Current Development Plan, on a Year-by-Year basis. The Current Development Plan attached hereto has been approved by the Parties. (a) From time to time during each Year of the Term, the Parties shall meet to discuss the planned development, drilling, production, processing, treating, marketing and other activities that Customer expects to take place with respect to Dedicated Production and Customer Injected NGLs for the then-applicable Development Period. Customer and Provider shall each make their respective representatives available to participate in such meetings and discussions. No later than August 1 of each such Year, Customer shall provide (or cause to be provided) to Provider a proposed update of the then-currently agreed Development Plan, prepared on the same basis as the Current Development Plan and describing in detail the planned development, drilling, production, processing, treating, marketing and other activities to take place with respect to Dedicated Production and Customer Injected NGLs for the then-applicable Development Period (any such update, an “Updated Development Plan” and, together with the Current Development Plan, each, a “Development Plan”). (b) Each proposed Development Plan shall include information as to the following, in each case, broken out, with respect to the first three Years covered by such Development Plan, on a Quarter-by-Quarter basis, and, with respect to the remaining Years covered by such Development Plan, on a Year-by-Year basis: (i) forward-looking production estimates for the applicable time period covered by such Development Plan for all Customer Gas and Customer Injected NGLs (A) that Customer reasonably and in good faith believes will become owned or Controlled by Customer during the time period covered by such Development Plan, and/or (B) that will be produced from (I) in the aggregate, all ▇▇▇▇▇ then-existing and (II) in the aggregate, all ▇▇▇▇▇ that are expected to be drilled during the time period covered by such Development Plan (each such Well reflected in such Development Plan, a “Planned Well” and, such collective estimates described in subsections (A) and (B), both with respect to a particular Quarter and an entire Year, the “Dedicated Production Estimates”); TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**). (ii) (A) each new receipt point (including the location thereof) proposed by Customer with respect to the Dedicated Production Estimate reflected in such Development Plan (each such receipt point, a “Planned Receipt Point”), (B) each Receipt Point at which Customer expects to Tender Customer Gas or Customer Injected NGLs reflected in such Development Plan into the TGP System, and (C) the estimated portion of the Dedicated Production Estimate contained in such Development Plan that Customer expects to Tender at each such Receipt Point and Planned Receipt Point; (iii) (A) each new delivery point (including the location thereof) proposed by Customer with respect to the Dedication Production Estimate reflected in such Development Plan (each such delivery point, a “Planned Delivery Point”), (B) each Delivery Point at which Customer expects to Nominate Customer Residue Gas or Customer NGLs produced from the Dedicated Production Estimate reflected in such Development Plan to be redelivered to Customer, and (C) the estimated volumes of Customer Residue Gas and Customer NGLs produced from the Dedication Production Estimate contained in such Development Plan that Customer expects to Nominate to each such Delivery Point; (iv) the earliest date on which each Planned Receipt Point and Planned Delivery Point included in the Development Plan is required by Customer to be placed into service, which date shall not be earlier than three Months after the January 1st that is immediately subsequent to the date that the Development Plan that initially reflected such Planned Receipt Point or Planned Delivery Point was delivered to Provider hereunder; (v) the anticipated characteristics of the production from the ▇▇▇▇▇ and Planned ▇▇▇▇▇ reflected in such Development Plan (including liquids content and gas and liquids composition) and the projected production volumes and production pressures applicable thereto; provided that Customer may utilize the existing and historical production information from similarly situated ▇▇▇▇▇; (vi) any (A) proposed revision to the then-existing Dedicated Area and/or any then-existing Dedicated Contract and/or (B) any new contract that Customer proposes to be a Dedicated Contract; and (vii) other information reasonably requested by Provider that is relevant to the design, construction, and operation of the TGP System, including (A) any applicable Plant Expansion or Facilities Modification proposed by Customer, (B) the relevant Receipt Point and Planned Receipt Point facilities applicable to such Development Plan, and (C) the relevant Delivery Point and Planned Delivery Point facilities applicable to such Development Plan. TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT FOR THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH TWO ASTERISKS (**).