Projections. As soon as available, but in any event within forty-five (45) days after the end of each fiscal year of Borrower, forecasts prepared by management of Borrower, in form and substance reasonably satisfactory to Administrative Agent, of consolidated balance sheets of income or operations and cash flows of Borrower and its Subsidiaries on a monthly basis for the immediately following fiscal year.

Implements Monthly Operating Report (MOR) and Annual Plans including budget to actual reporting;

Budget. The Project Budget accurately reflects all Total Project Related Costs. Upon the making of the Additional Advances requested in ​’s Advance Request in the manner set forth therein, all materials and labor theretofore supplied or performed in connection with the Property will have been paid for in full (subject to the Retainage).

Budget. Before the commencement of construction of the Tenant Improvements, Tenant shall deliver to Landlord a detailed breakdown by trade of the costs incurred or that will be incurred in connection with the design and construction of the Tenant Improvements and the estimated payment schedule for such costs, which Tenant shall update at least monthly (the most recent such budget, the “Budget”).

Budget. As soon as available and in any event within 65 days after the beginning of the Borrower’s fiscal years, the Borrower will deliver a Budget of the Borrower and its consolidated Subsidiaries for such fiscal year.

Budgets. The Borrowers shall have delivered the preliminary Annual Operating Budget for each Property for the remainder of 2017 and for the 2018 Fiscal Year, and such preliminary Annual Operating Budgets shall be reasonably acceptable to Agent.

Cognex Corporation (the “Company”) maintains a performance-based annual bonus program (the “Bonus Program”) for employees (including the Company’s executive officers), other than those employees on a sales commission plan. Each participant in the Bonus Program is assigned a target annual cash bonus. Participants may earn their bonuses based on the achievement of certain financial goals set forth in the Company’s annual budget related to budgeted non-GAAP consolidated operating income as a percentage of revenue (“operating margin”).

Attached hereto as [Exhibit C] is the initial budget (the “Initial Budget”) for the Company and its Subsidiaries that sets forth reasonable line item detail regarding anticipated expenditures, including: # estimated operating expenditures; # estimated capital expenditures; # the proposed financing plans for such expenditures; and # such other items as are set forth therein, for the period from the Effective Date through December 31, 2016. At such reasonable time prior to the expiration of the Initial Budget, and each year thereafter, the Board shall cause to be prepared the Annual Budget for the following year, which Annual Budget will be presented to the Board on or before September 15 of the preceding year for approval in accordance with Section 8.04(b)(xix). The Board shall cause the Annual Budget to be prepared and approved for distribution to the Members by November 1 prior to the calendar year to which such Annual Budget applies, and finally approved by December 1 prior to the calendar year to which such Annual Budget applies, for each calendar year during the term of this Agreement. If the Budget is not approved by the Board prior to the date when such Budget is to become effective, the Company shall continue to use the Initial Budget or Annual Budget then in effect, extrapolated to a 12-month budget period in the case of the use of the Initial Budget, except that # any items of the proposed Annual Budget that previously were approved by the Board shall be given effect in substitution of the corresponding items in the Annual Budget for the previous year, # any one-time or non-recurring items and the corresponding budget entries therefor shall be deleted, and # all other categories of expenses from the Initial Budget or Annual Budget for the previous period or year, as applicable, shall be increased by five percent (5%).

“Annual Budget” shall mean a budget covering the operations of Newco and its Subsidiaries for a Calendar Year, setting forth reasonable line item detail regarding anticipated revenues and expenditures, including: # forecasted revenues; # estimated operating expenditures; # estimated capital expenditures; # proposed financing plans for such expenditures; # a comparison to the previous year’s Annual Budget; # detail on the workforce, including FTE details and plans; # Crestwood Midstream’s cost allocation details; and # such other items as Newco may deem appropriate.

Prepare each of the following budgets: # at least thirty (30) days prior to the start of each calendar year, during the term hereof, an annual operating budget, setting forth Gyrodyne’s forecast of gross income, operating expenses, capital costs and expenses and net income for the Properties for such calendar year; and (2), promptly after the end of each calendar month, during the term of this Agreement, a statement setting forth a monthly reconciliation of the actual operations of the Properties for such calendar month, with the annual Budget thereof; and