Budgets; Projections. As soon as available and in any event within sixty (60) days following the first day of each fiscal year of Borrower (i) an annual budget in form substantially similar to the Projections (including budgeted statements of operations, income, cash flows, retained earnings and shareholders' equity and balance sheets) prepared by Borrower for each fiscal quarter of such fiscal year and (ii) projections in form substantially similar to the Projections covering the period from such fiscal year through the Termination Date, in each case prepared in reasonable detail, with appropriate presentation and discussion of the principal assumptions upon which such budgets and projections are based, which shall be accompanied by the statement of the chief executive officer or Chief Financial Officer of Borrower to the effect that, to the best of his knowledge, such budget and projections are a reasonable estimate for the periods respectively covered thereby;
Budgets; Projections. Borrowers have prepared the Project Budget, the Annual Operating Budget and the Base Case Project Projections, have prepared them in good faith, and are responsible for developing the assumptions on which such Project Budget, Annual Operating Budget and the Base Case Project Projections are based; and such Project Budget, Annual Operating Budget and the Base Case Project Projections (a) as of the date delivered, updated or supplemented are based on reasonable assumptions (including as to all legal and factual matters material to the estimates set forth therein), (b) as of the date delivered, updated or supplemented are consistent in all material respects with the provisions of the Project Documents executed on or prior to such date, and (c) as of the date delivered, updated or supplemented indicate that the estimated aggregate Project Costs will not exceed Available Construction Funds.
Budgets; Projections. Borrower has prepared the Project Budget and the Base Case Projections in good faith, and such Project Budget and Base Case Projections (a) as of the date delivered and, to the extent permitted or required by this Agreement, updated or supplemented are based on reasonable assumptions (including as to all legal and factual matters material to the estimates set forth therein), and (b) as of the date delivered and, to the extent permitted or required by this Agreement, updated or supplemented are consistent in all material respects with the provisions of the Project Documents executed on or prior to such date.
Budgets; Projections. As soon as available and in any event within sixty (60) days following the first day of each Fiscal Year of Company (i) an annual budget (by quarter) in form satisfactory to Administrative Agent (including budgeted balance sheet, statements of earnings and cash flows) prepared by Company for each Fiscal Quarter of such Fiscal Year, which shall be accompanied by the statement of the Chief Executive Officer, Treasurer or Chief Financial Officer of Company to the effect that, to the best of his knowledge at the time made, such budget is a reasonable estimate for the periods covered thereby;
Budgets; Projections. Borrower has prepared the Capital Expenditures Budget, the Operating Budget and the Projections and is responsible for developing the assumptions on which such Capital Expenditures Budget, Operating Budget and the Projections are based; and such Capital Expenditures Budget, Operating Budget and the Projections (a) are based on reasonable assumptions (including as to all legal and factual matters material to the estimates set forth therein) and (b) are consistent in all material respects with the provisions of the Major Project Documents in effect as of the Closing Date.
Budgets; Projections. Worsley and the Companies have provided to Catalytica (i) the Snowflake Power Project Budget dated as of April 30, 2007 (the “Project Budget”), and (ii) the Renegy and Renegy Trucking Pro Forma Operating Budget dated April 4, 2007 from September 2006 through December 2008, the estimated capital expenditures for Renegy and Renegy Trucking in the amount of approximately $2,050,000 and the Snowflake White Mountain Power LLC Operating Budget dated as of December 26, 2006 for 2007 through 2027 (collectively, the “Operating Budget”). The Companies have prepared the Project Budget and the Operating Budget in good faith, and are responsible for developing the assumptions on which such Project Budget and Operating Budget are based; and such Project Budget and Operating Budget (i) as of the date hereof, are based on reasonable assumptions (including as to all legal and factual matters material to the estimates set forth therein), (ii) as of the date hereof, are consistent in all material respects with the provisions of the Project Documents, (iii) and as of the date hereof indicate that the estimated aggregate Project Costs will not exceed the available construction funds for the Project. To the Knowledge of the Companies, (i) the funds available to the Companies pursuant to the existing Project Documents are sufficient to permit Commercial Operation (as defined in the Credit Agreement) without the need to raise additional funds or incur additional indebtedness; (ii) the Plant is on target to achieve Commercial Operation (as defined in the Credit Agreement) no later than July 1, 2008; and (iii) upon its completion, the Plant will achieve the operating requirements set forth in the Project Documents, including the Power Purchase Agreements, in accordance with applicable Legal Requirements.
Budgets; Projections. As soon as available and in any event within thirty (30) days following the first day of each Fiscal --------------------- Year of Company (i) an annual budget in form satisfactory to Administrative Agent (including budgeted balance sheet and budgeted statements of income, cash flows, retained earnings and shareholders' equity) prepared by Company for each Fiscal Quarter of such Fiscal Year and (ii) projections in form satisfactory to Administrative Agent covering the period from such Fiscal Year through December 31, 2011, in each case prepared in reasonable detail, with appropriate presentation, which shall be accompanied by the statement of the chief executive officer or Chief Financial Officer of Company to the effect that, to the best of his knowledge, such budget and projections are a reasonable estimate for the periods respectively covered thereby;
Budgets; Projections. As soon as available and in any event within sixty (60) days following the first day of each Fiscal Year of Borrower, an annual operating plan approved by the Board of Directors of Borrower (including budgeted statements of operations, income, cash flows, retained earnings and shareholders' equity and balance sheets) prepared by Borrower for each Fiscal Quarter of such Fiscal Year, with appropriate presentation and discussion of the principal assumptions upon which such budgets are based;
Budgets; Projections. As soon as available and in any event (A) within sixty (60) days after the Closing Date an annual budget for Fiscal Year 2001 (prepared on a quarterly basis) in form reasonably satisfactory to Lender (including budgeted statements of income, operations, cash flows, shareholders’ equity and balance sheets) prepared by Parent for each Fiscal Quarter of Fiscal Year 2001 and (B) within thirty (30) days after the first day of each Fiscal Year of Parent, (i) an annual budget (prepared on a quarterly basis) in form reasonably satisfactory to Lender (including budgeted statements of income, operations. cash flows, shareholders’ equity and balance sheets) prepared by Parent for each Fiscal Quarter of such Fiscal Year and (ii) projections in form reasonably satisfactory to Lender covering the period from such Fiscal Year through the Maturity Date in each case prepared in reasonable detail, with appropriate presentation and discussion of the principal assumptions upon which such budgets and projections are based. which shall be accompanied by the statement of a Responsible Officer of Parent to the effect that, to the best of his knowledge, such budget and projections are a reasonable estimate for the periods respectively covered thereby;
Budgets; Projections. As soon as available and in any event within ninety (90) days following the first day of each Fiscal Year of Borrower, or such later time as may be agreed upon by Borrower and Agent, (i) an annual budget in form satisfactory to Agent and the Required Lenders (including budgeted statements of income, cash flows and balance sheets) prepared by Borrower for each Fiscal Quarter of such Fiscal Year and (ii) projections in form satisfactory to Agent and the Required Lenders covering the period from such Fiscal Year through the Revolver Termination Date in each case prepared in reasonable detail, with appropriate presentation and discussion of the principal assumptions upon which such budgets and projections are based, which shall be accompanied by the statement of a Responsible Officer of Borrower to the effect that, to the best of his knowledge, such budget and projections are a reasonable estimate for the periods respectively covered thereby;
