Budget Reporting Clause Samples

Budget Reporting. Limited to the following: 1. The Company shall deliver on the Closing Date, in each case in form and substance reasonably satisfactory to the Lenders:

Budget Reporting. Limited to the following: 1. The Company shall deliver on the Closing Date, in each case in form and substance reasonably satisfactory to the Lenders: (i) monthly projections for the nine months after the Closing Date (such budget, as amended, modified or supplemented in a manner reasonably satisfactory to the Required Lenders, the “DIP Budget”); and (ii) a thirteen (13) week budget for the Approved Purposes, including use of Cash Collateral (starting with the week of the Petition Date), which sets forth, among other things, on a cumulative roll-forward basis, the projected cash disbursements and projected cash receipts for each applicable week (such budget, the “Initial Rolling Budget”).

Budget Reporting. (i) On December 19, 2019 and on each fourth Thursday thereafter the Company will provide to the Administrative Agent (i) a new thirteen-week budget covering the thirteen-week period commencing on the immediately preceding Saturday and otherwise in form and substance substantially similar to the Initial Budget (such budget, together with the Initial Budget, the “Budget”) and (ii) a new monthly budget covering the period commencing on the immediately preceding Saturday through the period ending on the Borrower’s anticipated emergence from the Chapter 11 Cases and otherwise in form and substance substantially similar to the Initial Emergence Budget (such budget, together with the Initial Emergence Budget, the “Emergence Budget”); (ii) Concurrently with the delivery of the new thirteen-week budget pursuant to clause (i) above, the Company will provide to the Administrative Agent a variance report (the “Variance Report”) detailing the following: (A) the aggregate and line item detail for (1) Operating Disbursements of the Credit Parties and their Subsidiaries during the four week period ending on the Measurement Date and (2) Operating Cash Receipts of the Credit Parties and their Subsidiaries during the four week period ending on the Measurement Date (in the case of the first Variance Report, for the period from November 16, 2019 through December 13, 2019) (the “Variance Measurement Period”); and (B) any variance (whether plus or minus and expressed as a percentage) between (1) the aggregate Operating Disbursements made during such Variance Measurement Period by the Credit Parties and their Subsidiaries against the aggregate Operating Disbursements set forth in the Budget for such Variance Measurement Period and (2) the aggregate Operating Cash Receipts made during such Variance Measurement Period by the Credit Parties and their Subsidiaries against the aggregate Operating Cash Receipts set forth in the Budget for such Variance Measurement Period. (iii) Promptly after an Authorized Officer of the Borrower obtains actual knowledge thereof, written notice (which may be electronic notice) of any material change to Operating Disbursements set forth in the Budget in an aggregate amount in excess of $20,000,000 through the Borrower’s anticipated emergence from the Chapter 11 Cases; provided, that, any such written notice delivered to the counsel or advisors for the Administrative Agent shall constitute notice to the Administrative Agent as required by this clause (ii...

Budget Reporting. On or prior to Wednesday of the first full week following the Execution Date, and continuing each Wednesday thereafter, Borrower shall deliver to Agent a reconciliation report showing variances of Budget amounts to actual amounts for the trailing four-week time period, or such shorter period if the Borrower has not yet completed four weeks of post-Execution Date operations. Cash disbursements shall only be used to fund disbursements in accordance with the Budget and Borrower shall not permit total disbursements for any trailing four-week time period of the Budget to exceed the total disbursements allowed in the Budget by more than ten percent (10%); provided that any disbursements (i) due to early termination of Swap Agreements not prohibited hereby or (ii) related to Lender or professional fees and expenses (in the case of professionals retained by any Loan Party or their Affiliates, in a manner consistent with the engagement letters of such professionals as of the Execution Date), in each case of (i) and (ii), shall not be prohibited or included in the calculation of such variance. The Budget may only be amended or modified with the prior written consent of the Administrative Agent and the Majority Lenders.

Budget Reporting. Deliver to the Agents and the Lenders not later than the earlier of (i) Tuesday of each week and (ii) contemporaneously with the submission of the Notice of Borrowing with respect to any Revolving Loan requested to be made during such week, a comparison of actual results (through the prior Friday) to projections under the Budget.

Budget Reporting. (i) to be delivered on the second to last Business Day of each week, a Budget for the immediately following 13-week period, with the first such Budget to be delivered no later than April 2, 2002; and (ii) to be delivered on the second to last Business Day of each week, a Variance Report for the immediately prior week, with the first such Variance Report to be delivered no later than April 4, 2002; and