Budget; Projections Clause Samples

Budget; Projections. Borrowers’ and/or Mortgagor’s budget projections indicate that monthly income from Project operations will be sufficient to pay the combined monthly accrual of interest on the Senior Loan and the Loan by the Maturity Date and the projections are reasonable in Borrowers’ opinion and have been prepared in a manner consistent with the past practices of affiliates of the Borrowers.

Budget; Projections. Within 90 days following the end of each fiscal year of UCLP, a copy of the projections of the operating budget and cash flow budget of UCLP and its Restricted Subsidiaries prepared on a consolidated basis for the succeeding fiscal year, such projections to be accompanied by a certificate of a Responsible Officer to the effect that such projections have been prepared on the basis of reasonable assumptions and that such Responsible Officer has no reason to believe they are incorrect or misleading in any material respect.

Budget; Projections. Prior to the consummation of a Qualifying IPO, within one hundred twenty (120) days after the end of each fiscal year (beginning with the fiscal year ending December 31, 2021), a consolidated budget for the following fiscal year on a quarterly basis as customarily prepared by management of the Borrower for its internal use and setting forth the material underlying assumptions based on which such consolidated budget was prepared (including any projected consolidated balance sheet of the Borrower and its Subsidiaries as of the end of the following fiscal year and the related consolidated statements of projected operations or income and projected cash flow, in each case, to the extent prepared by management of the Borrower and included in such consolidated budget), which projected financial statements shall be prepared in good faith on the basis of assumptions believed by the Borrower to be reasonable at the time of preparation of such projected financial statements.

Budget; Projections. On or prior to the date financial statements are required to be delivered pursuant to Section 6.01(a) (commencing with the first fiscal year ending after the Closing Date), a consolidated budget for the following fiscal year on a quarterly basis in form and substance consistent with the budget customarily prepared by management of the Borrower for their internal use.

Budget; Projections. Borrower’s and/or Mortgagor’s and/or Senior Mezz Borrower’s budget projections indicate that monthly income from Project operations will be sufficient to pay the combined monthly accrual of interest on the Senior Loan, Senior Mezz Loan and the Loan by the Maturity Date and the projections are reasonable in Borrower’s opinion and have been prepared in a manner consistent with the past practices of affiliates of Borrower.

Budget; Projections. Prior to the consummation of a Qualifying IPO, within ninety days after the end of each fiscal year (commencing with the first fiscal year ending after the Closing Date), a consolidated budget for the following fiscal year on a quarterly basis as customarily prepared by management of the Borrower for its internal use and setting forth the material underlying assumptions based on which such consolidated budget was prepared (including any projected consolidated balance sheet of the Borrower and its Restricted Subsidiaries as of the end of the following fiscal year and the related condensed consolidated statements of projected operations or income (loss) and projected cash flow, in each case, to the extent prepared by management of the Borrower and included in such consolidated budget, which projected financial statements shall be prepared in good faith on the basis of assumptions believed to be reasonable at the time of preparation of such projected financial statements).

Budget; Projections. As soon as available, a copy of any budget or projections of Borrower or any of its Subsidiaries as may be prepared by or for the directors of any such Person and, in any event with 30 days after the end of each fiscal year, a copy of a budget and projections of Borrower and its consolidated Subsidiaries for the then current fiscal year, which budget and projections shall including consolidating schedules containing information exclusively as to BORROWER;

Budget; Projections. Within 90 days following the end of each fiscal year of Holdings, a copy of the projections of the operating budget and cash flow budget of Holdings and its Subsidiaries prepared on a consolidated basis for the succeeding fiscal year, such projections to be accompanied by a certificate of a Responsible Officer to the effect that such projections have been prepared on the basis of reasonable assumptions and that such Responsible Officer has no reason to believe they are incorrect or misleading in any material respect.

Budget; Projections. As soon as available, a copy of any budget or projections of Falcon Drilling or any of its Subsidiaries as may be prepared by or for the directors of any such