Common use of Budget Proposals Clause in Contracts

Budget Proposals. At least 10 days prior to the scheduled date of each quarterly meeting of the Board of Managers, the Company shall furnish to the Managers (and Board Observers) (i) an updated outline of the geographic scope of the Company’s operations and (ii) a proposed revised budget estimating the revenues, expenses, capital expenditures, general and administrative expenses and additional Capital Calls in connection with the Company’s operations during the next succeeding 12 calendar months.