Common use of Budgets; Business Plans; Financial Projections Clause in Contracts

Budgets; Business Plans; Financial Projections. As soon as practicable and in any event not later than thirty (30) days prior to the commencement of each Fiscal Year of the Borrower, (i) a monthly budget for such Fiscal Year; (ii) an annual business plan for such Fiscal Year, in form and substance acceptable to the Lender, accompanied by a report reconciling all changes and departures from the business plan delivered to the Lender for the preceding Fiscal Year; and (iii) a consolidated plan and financial forecast, prepared in accordance with the Borrower's normal accounting procedures applied on a consistent basis, for such Fiscal Year and the two (2) immediately succeeding Fiscal Years, including, without limitation, (A) a forecasted consolidated balance sheet and a consolidated statement of changes in financial position of the Borrower for such Fiscal Years, (B) forecasted consolidated balance sheets, statements of earnings and retained earnings, and changes in financial position of the Borrower for and as of the end of each fiscal quarter of such Fiscal Years, (C) the amount of forecasted Capital Expenditures and Excess Cash Flow for such Fiscal Years, and (D) forecasted compliance with the provisions of ARTICLE IX for such Fiscal Years.

Budgets; Business Plans; Financial Projections. As To Agent and Lenders, as soon as practicable and in any event not later than thirty (30) days prior to the commencement of each Fiscal Year of the Borrower, (i) a monthly budget for such Fiscal Year; (ii) an annual business plan for such Fiscal Year, in form and substance acceptable to the LenderAgent, accompanied by a report reconciling all changes and departures from the business plan delivered to the Lender Agent for the preceding Fiscal Year; and (iii) a consolidated plan and financial forecast, prepared in accordance with the Borrower's normal accounting procedures applied on a consistent basis, for such Fiscal Year and the two (2) immediately succeeding Fiscal Years, including, without limitation, (A) a forecasted consolidated balance sheet and a consolidated statement of changes in financial position of the Borrower for such Fiscal Years, (B) forecasted consolidated balance sheets, statements of earnings and retained earnings, and changes in financial position of the Borrower for and as of the end of each fiscal quarter of such Fiscal Years, (C) a budget in reasonable detail of the types and amounts of Capital Expenditures to be made during such Fiscal Years and the amount of forecasted Capital Expenditures and Excess Cash Flow for such Fiscal Years, and (D) forecasted compliance with the provisions of ARTICLE IX G for such Fiscal Years.