Budget and Projections. As soon as available, but in any event no later than ninety (90) days after the beginning of each fiscal year of the Borrower, projections and a budget for the Borrower and its Subsidiaries on a Consolidated basis (including a balance sheet and related statements of income and cash flows), on a quarterly basis for such fiscal year. As to any information contained in materials furnished pursuant to Section 6.02(c), the Borrower shall not be separately required to furnish such information under Section 6.01(a) or (b), 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) at the times specified therein.
Budget and Projections. Simultaneously with the delivery of the annual financial statements referred to in paragraph (b) above, the Borrower’s annual budget and projection for the upcoming Fiscal Year and an annual management report pertaining to student enrollment, tuition, pricing, capital campaigns and other data relevant to the operations of the Borrower.
Budget and Projections as soon as available, but in any event at least 45 days after the end of each fiscal year of the Parent, forecasts prepared by management of the Parent, in form reasonably satisfactory to the Required Holders, of consolidated balance sheets and statements of income or operations and cash flows of the Consolidated Group on a quarterly basis for such fiscal year (including the fiscal year in which the Maturity Date occurs);
Budget and Projections. As soon as available, but in any event no later than sixty (60) days after the beginning of each fiscal year of the Borrower, projections and a budget for the Borrower and its Subsidiaries on a Consolidated basis (including a balance sheet and related statements of income and cash flows), on a quarterly basis for such fiscal year.
Budget and Projections. Attached hereto as Schedules 2.3(a) and 2.3(b), respectively, (i) a budget for the balance of 2007 and calendar year 2008 (the “Budget); and (ii) revenue and income statement projections for the balance of 2007 and calendar year 2008 (the “Projections”). The Company and its Stockholders represent that these Schedules have been prepared in good faith based upon the best information available to the Company’s management and the management does not have any reason to believe that (i) it will not be able to live within the Budget or meet its Projections.
Budget and Projections. The Borrower has, in consultation with Xxxxxx Xxxxxxxxx, developed a wind down budget and cash flow projections through the Forbearance Termination Date (the “Budget”), a copy of which is annexed hereto marked Exhibit “A”. The Budget may be amended only with the consent of the Agent, which may be given by the Agent in its sole and exclusive discretion. The Borrower shall (w) operate its business and conduct the Liquidation in accordance with the Budget, (x) not permit any Overadvance to exist at any time (unless expressly agreed to in advance by the Lender), (y) reduce the outstanding balance of the Obligations to no greater than 115% of the amounts shown in the Budget each week, and (z) not make any expenditures in advance of the week each item is projected to be made in the Budget, and shall not request any Credit Extension under the Loan Agreement to be made, in excess of 107.5% of the amounts contained in the Budget on a cumulative basis.
Budget and Projections. 42 12.2. Termination.....................................................42 12.3. Assignment......................................................43 12.4. Bulk Transfer Laws..............................................43 12.5.
Budget and Projections. 48 SECTION 4.13
Budget and Projections. Agent shall have received and reviewed, to its satisfaction, annual budget with respect to the Consolidated Group for a five year period (with monthly projections for the 12 months after close) as well as actual results for the 12 months prior to close). Agent and Lenders shall be satisfied, based on financial statements (actual and pro forma), projections and other evidence provided by Borrowers, or requested by Agent, that the Credit Parties and their Subsidiaries, after incurring the indebtedness contemplated by the Revolving Facility, will be solvent, able to satisfy their obligations as they mature and adequately capitalized.
Budget and Projections. As soon as available and in any event within ninety (90) days after the end of each Fiscal Year of the Borrower, the Borrower’s annual budget and projection of financial performance on a monthly basis for the upcoming Fiscal Year in form and detail reasonably satisfactory to the Bank and an annual management report pertaining to student enrollment, tuition, pricing, capital campaigns and other data relevant to the operations of the Borrower.
