Common use of Annual Operating Budget and Financial Projections Clause in Contracts

Annual Operating Budget and Financial Projections. As soon as available, within thirty (30) days after the last day of Borrower’s fiscal year, but in no event later than seven (7) days after approval by Borrower’s Board of Managers, and as more frequently updated, (i) annual operating budgets (including income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borrower, and (ii) annual financial projections for the following fiscal year (on a quarterly basis) as approved by Borrower’s Board of Managers, together with any related business forecasts used in the preparation of such annual financial projections;

Appears in 2 contracts

Samples: Loan and Security Agreement (Avidity Biosciences, Inc.), Loan and Security Agreement (Avidity Biosciences, Inc.)

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Annual Operating Budget and Financial Projections. As soon as available, and at least annually, within thirty Ten (3010) days after the last day of following Borrower’s fiscal year, but in no event later than seven (7) days after board of directors approval by Borrower’s Board of Managers, and as more frequently updatedcontemporaneously with any updates or amendments thereto, (i) capitalization tables, (ii) annual operating budgets (including income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borrower, and (iiiii) annual financial projections for the following fiscal year (on a quarterly basis) ), in each case as approved by Borrower’s the Board of Managersand as revised, together with any related business forecasts used in the preparation of such annual financial projections;; (d)

Appears in 1 contract

Samples: Loan and Security Agreement (Innovid Corp.)

Annual Operating Budget and Financial Projections. As soon as available, and at least annually, within thirty Ten (3010) days after the last day of following Borrower’s fiscal year, but in no event later than seven (7) days after board of directors approval by Borrower’s Board of Managers, and as more frequently updatedcontemporaneously with any updates or amendments thereto, (i) capitalization tables, (ii) annual operating budgets (including income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borrower, and (iiiii) annual financial projections for the following fiscal year (on a quarterly basis) ), in each case as approved by Borrower’s Board of Managersthe Board, together with any related business forecasts used in the preparation of such annual financial projections;

Appears in 1 contract

Samples: Loan and Security Agreement (Beamr Imaging Ltd.)

Annual Operating Budget and Financial Projections. As soon as available, within thirty Within the earlier of (30i) sixty (60) days after the last day of Borrower’s each fiscal year, but in no event later than seven year of Borrower or (7ii) ten (10) days after the approval by of Borrower’s Board of Managers, Directors (and as more frequently as updated), (i1) annual operating budgets (including income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borrower, and (ii2) annual financial projections for the following fiscal year (on a quarterly basis) ), in each case as approved by Borrower’s Board of ManagersDirectors, together with any related business forecasts used in the preparation of such annual financial projections;

Appears in 1 contract

Samples: Loan and Security Agreement (Sophiris Bio Inc.)

Annual Operating Budget and Financial Projections. As soon as available, within thirty Within forty-five (3045) days after the last day end of each fiscal year of Borrower’s fiscal year, but in no event later than seven and within ten (710) days after approval of any updates or amendments thereto approved by Borrower’s Board of Managers, and as more frequently updatedBoard, (i) annual operating budgets (including income statements, balance sheets statements and cash flow statements, by month) for the upcoming then-current fiscal year of Borrower, and (ii) annual financial projections for the following then-current fiscal year (on a quarterly basis) ), as approved by Borrower’s the Board in the case of Managersthe budget and as reviewed by the Board in the case of projections, together with any related business forecasts used in the preparation of such annual financial projections;

Appears in 1 contract

Samples: Loan and Security Agreement (Tenaya Therapeutics, Inc.)

Annual Operating Budget and Financial Projections. As soon as available, within thirty but no later than the earlier of (301) seven (7) Business Days after approval by Borrower’s Board of Directors or (2) sixty (60) days after the last day of Borrower’s fiscal year, but in no event later than seven (7) days after approval by Borrower’s Board of Managers, and as more frequently updated, (i) annual operating budgets (including income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borrower, and (ii) annual financial projections for the following fiscal year (on a quarterly basis) as approved by Borrower’s Board board of Managersdirectors, together with any related business forecasts used in the preparation of such annual financial projections;

Appears in 1 contract

Samples: Loan and Security Agreement (Sorrento Therapeutics, Inc.)

Annual Operating Budget and Financial Projections. As soon as available, within thirty Within sixty (3060) days (or such later date as the Bank permits in its sole discretion) after the last day earlier of the approval thereof by the Board or the end of each fiscal year of Borrower’s fiscal year, but in no event later than seven (7) days after approval by Borrower’s Board of Managers, and as more frequently updatedcontemporaneously with any updates or amendments thereto, (i) annual operating budgets (including income statements, balance sheets and cash flow statements, by monthquarter) for the upcoming such fiscal year of Borrower, and (ii) annual financial projections for the following such fiscal year (on a quarterly basis) ), in each case as approved by Borrower’s Board of Managersthe Board, together with any related business forecasts used in the preparation of such annual financial projections;

Appears in 1 contract

Samples: Loan and Security Agreement (Airgain Inc)

Annual Operating Budget and Financial Projections. As soon as available, Upon the earlier of (i) within thirty 31 days prior to the end of each fiscal year of Borrower and (30ii) within 15 days after the last day of Borrower’s fiscal year, but in no event later than seven (7) days after approval by Borrower’s Board of Managersapproval, and as more frequently updatedwithin 10 days following any updates or amendments thereto, (iA) annual operating budgets (including income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borrower, and (iiB) annual financial projections for the following fiscal year (on a quarterly basis) ), in each case as approved by Borrower’s Board of Managersthe Board, together with any related business forecasts used in the preparation of such annual financial projections;

Appears in 1 contract

Samples: Loan and Security Agreement (Owlet, Inc.)

Annual Operating Budget and Financial Projections. As soon as available, within thirty Within the earlier of (30i) days after the last day of Borrower’s fiscal year, but in no event later than seven fifteen (715) days after approval by Borrower’s Board board of Managers, and as more frequently updateddirectors or (ii) January 31st of each year, (iA) annual operating budgets of Borrower and its Subsidiaries (including income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borroweryear, and (iiB) annual financial projections for Borrower and its Subsidiaries for the following fiscal year (on a quarterly basis) as approved by Borrower’s Board board of Managersdirectors, together with any related business forecasts used in the preparation of such annual financial projections;

Appears in 1 contract

Samples: Intercreditor Agreement (Osprey Technology Acquisition Corp.)

Annual Operating Budget and Financial Projections. As soon as available, within thirty Within the earlier of (30X) days after the last day of Borrower’s fiscal year, but in no event later than seven (7) days after approval by Borrower’s Board board of Managers, directors and as more frequently updated(Y) sixty (60) days after the end of each fiscal year of Borrower, (i) annual operating budgets (including income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borrower, and (ii) annual financial projections for the following fiscal year (on a quarterly basis) as approved by Borrower’s Board board of Managersdirectors, together with any related business forecasts used in the preparation of such annual financial projections;

Appears in 1 contract

Samples: Loan and Security Agreement (Fate Therapeutics Inc)

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Annual Operating Budget and Financial Projections. As soon as available, within thirty (30) days after the last day of Borrower’s fiscal year, but in no event later than seven the earlier of (7i) fifteen (15) days after approval by Borrower’s Board of Managers, and as Directors or (ii) February 28th of each year or more frequently as updated, (i) annual operating budgets (including income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borrower, and (ii) annual financial projections for the following fiscal year (on a quarterly basis) as approved by Borrower’s Board board of Managersdirectors, together with any related business forecasts used in the preparation of such annual financial projections;

Appears in 1 contract

Samples: Loan and Security Agreement (Everspin Technologies Inc)

Annual Operating Budget and Financial Projections. As soon as available, within Within thirty (30) days after the last day end of Borrower’s each fiscal year, but in no event later than seven year of Borrower (7) days after and promptly following approval by Borrower’s Board board of Managers, and as more frequently updateddirectors of any updates thereto), (i) annual operating budgets (including income statements, balance sheets and cash flow statements, by month) for such portion of the upcoming fiscal year of Borrower, and (ii) annual financial projections for such portion of the following fiscal year (on a quarterly basis) as approved by Borrower’s Board board of Managersdirectors, together with any related business forecasts used in the preparation of such annual financial projections;

Appears in 1 contract

Samples: Loan and Security Agreement (Sunesis Pharmaceuticals Inc)

Annual Operating Budget and Financial Projections. As soon as available, within thirty No later than sixty (3060) days after the last day earlier of Borrower’s (i) the end of each fiscal year, but in no event later than seven year of Borrower or (7ii) days after approval by Borrower’s Board of ManagersBoard, and as more frequently updatedin either case, contemporaneously with any updates or amendments thereto, (iA) annual operating budgets (including income statements, balance sheets and cash flow statements, by month) for the upcoming fiscal year of Borrower, and (iiB) annual financial projections for the following fiscal year (on a quarterly basis) ), in each case as approved by Borrower’s Board of Managersthe Board, together with any related business forecasts used in the preparation of such annual financial projections;

Appears in 1 contract

Samples: Loan and Security Agreement (Serve Robotics Inc. /DE/)

Annual Operating Budget and Financial Projections. As soon as available, within thirty Within sixty (3060) days after the last day end of each fiscal year of Borrower’s fiscal year, but in no event later than and within seven (7) days after approval by Borrower’s the Board of Managers, and as more frequently updatedany updates or amendments thereto, (i) annual operating budgets (including income statements, balance sheets and cash flow statements, by month) for the upcoming then-current fiscal year of Borrower, and (ii) annual financial projections for the following then-current fiscal year (on a quarterly basis) ), in each case as approved by Borrower’s the Board of Managers(it being understood that with respect to annual operating budgets, only the income statement is approved by the Board), together with any related business forecasts used in the preparation of such annual financial projections;

Appears in 1 contract

Samples: Loan and Security Agreement (Castle Biosciences Inc)

Annual Operating Budget and Financial Projections. As soon as available, within thirty Within forty-five (3045) days after the last day of each fiscal year of Borrower’s fiscal year, but in no event later than and within seven (7) days after approval any updates or amendments thereto are approved by Borrower’s Board of Managers, and as more frequently updatedthe Board, (i) annual operating budgets (including income statementsstatements of operations and comprehensive loss, balance sheets (to the extent available) and cash flow statements, by monthfiscal quarter) for the upcoming then-current fiscal year of BorrowerBorrower as approved by the Board, and (ii) annual financial projections for the following then-current fiscal year (on a quarterly basis) as approved by Borrower’s Board of Managersthe Board, together with any related business forecasts used in the preparation of such annual financial projections;

Appears in 1 contract

Samples: Loan and Security Agreement (Alpha Healthcare Acquisition Corp.)

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