Budgets; Projections; Etc Clause Samples
The "Budgets; Projections; Etc" clause defines how financial estimates, forecasts, and related documents are handled within an agreement. It typically outlines the process for preparing, submitting, and updating budgets or projections, and may specify the parties' responsibilities for reviewing or approving these documents. For example, it might require one party to provide annual operating budgets or periodic financial forecasts to the other party for planning purposes. The core function of this clause is to ensure transparency and alignment regarding financial expectations, helping both parties manage resources effectively and anticipate future financial needs or obligations.
Budgets; Projections; Etc. All budgets, projections, appraisals, feasibility studies and other documentation submitted by the Borrower to the RUS and any Rating Agency assigning a Credit Rating were based on assumptions that were reasonable at the time submitted; and, as of the date hereof, Oglethorpe has updated such budgets, projections, appraisals, feasibility studies and other documentation as required by RUS and any Rating Agency and in connection with customary updates provided to Rating Agencies assigning a Credit Rating.
Budgets; Projections; Etc. All budgets, projections, appraisals, feasibility studies and other financial information submitted by the Borrower to the RUS or to any Rating Agency, as updated by the Borrower from time to time and submitted to the RUS and to the Rating Agencies, in connection with the restructuring transactions contemplated by the Restructuring Agreement were reasonable at the time so submitted; and, as of the date hereof, no fact has come to light, and no event or transaction has occurred, which would cause such information, as so updated, to be unreasonable.
Budgets; Projections; Etc. Not more than 60 days after the commencement of each fiscal year of the Borrower, (i) a budget, certified by the Senior Vice President-Finance or Controller of the Borrower, which includes an income statement, balance sheet and cash flow statement of the Borrower and its Subsidiaries for each of the four fiscal quarters of such fiscal year, including a breakdown of revenues, operating expenses, utilizations and capital expenditures by class of rig for the Fleet Rigs, and a general statement of allocations of revenues, expenses and capital expenditures to turnkey drilling operations, engineering and production management services operations and Small Scale Field Development activities and (ii) updated Projections for the four succeeding fiscal years, beginning with the then current fiscal year, in substantially the same form as the Projections delivered pursuant to Section 5.14.