Orange County NC Website
Browse       Search
8.13 Annual Plan. Manager shall provide to the Owner on or before one hundred <br />twenty (120) days prior to the end of each Fiscal Year, an annual management plan, which <br />shall include the annual operating budget described herein for the next Fiscal Year. The <br />annual plan shall include information regarding Manager's anticipated operations for such <br />Fiscal Year, including planned operating maintenance activities by Manager, requested <br />Capital Improvements and Capital Equipment purchases and an anticipated budget <br />therefor, anticipated programs, activities, and events at the Facility, anticipated advertising <br />and promotional activities, and planned equipment and furnishings purchases. The annual <br />plan shall be subject to review, revision, and approval by the Owner. Following review and <br />revision by the Owner, Manager shall have thirty (30) days to incorporate the Owner’s <br />revisions into its plan and resubmit the revised plan for approval. Upon written approval by <br />the Owner, such annual plan shall constitute the operating program for Manager for the <br />following Fiscal Year. <br />8.14 Monthly Reports. Prior to the 15th day of each month during the term of this <br />Agreement, Manager shall provide to the Owner a written monthly report in a form approved <br />by the Owner setting out the Facility's anticipated programs, activities and events for the <br />upcoming month and reporting on the prior month's activities and finances; provided, <br />however, that it shall not be a breach of this agreement if Manager’s report is received within <br />three (3) business days of the 15th. Manager shall include in such report a balance sheet, <br />income statement, and other financial reports (such as a departmental expense report and <br />event accounting). <br />ARTICLE 9 <br />FACILITY CONTRACTS; TRANSACTIONS WITH <br />AFFILIATES <br />9.1 Existing Contracts. To the extent practical or necessary the Owner shall <br />provide to Manager, on or before the Effective Date, full and complete copies of all <br />Existing Contracts between the prior Facility manager and its contractors. Manager shall <br />administer and use reasonable commercial efforts to ensure compliance with such <br />Existing Contracts to the extent provided to Manager and to the extent necessary to <br />maintain operations at the Facility. <br />9.2 Execution of Contracts. Manager shall have the right to enter into <br />Service Contracts, Revenue Generating Contracts, and other contracts related to the <br />operation of the Facility. Any such material agreements shall contain standard <br />indemnification and insurance obligations on the part of each vendor, licensee or service <br />provider, as is customary for the type of services or obligations being provided or <br />performed by such parties. No such contracts shall create an agency relationship between <br />Owner and Manager. Except as otherwise provided herein, no such contracts shall be <br />binding upon the Owner. <br />9.3 Transactions with Affiliates. In connection with its obligations hereunder <br />relating to the purchase or procurement of services for the Facility (including without <br />limitation food and beverage services, ticketing services and Commercial Rights sales), <br />Manager may purchase or procure such services, or otherwise transact business with, <br />Docusign Envelope ID: 177AA06A-30B4-42FF-A85A-78B5A7C51DBE