Cash Flow Budget. On each Monday commencing on September 5, 2005, and continuing on each Monday thereafter, Borrower will deliver to CF, in form, content, and detail satisfactory to CF, a rolling twelve (12) week cash flow budget (the “Budget”). The Budget shall include a certification (executed and certified by Borrower’s authorized representatives) evidencing and certifying that Borrower has performed in accordance with the Budget during the preceding week.
Cash Flow Budget. At any time Liquidity (determined as of 5:00 p.m.) is less than $40,000,000 for a period of five consecutive days (the “CF Trigger Period”) and until the Liquidity (determined as of 5:00 p.m.) is greater than $40,000,000 for five consecutive days, no later than close of business on the date that is five (5) Business Days following the occurrence of a CF Trigger Period and every seventh calendar day thereafter by the close of business, the Borrower shall deliver to the Administrative Agent for distribution to the Lenders a 13-week cash flow budget, in a form acceptable to the Administrative Agent (the “Cash Flow Budget”), for the then-upcoming thirteen (13) week period, and (ii) no later than the close of business on the required date of delivery for the second Cash Flow Budget hereunder and continuing with the delivery of each additional required Cash Flow Budget thereafter, a report setting forth actual cash receipts, disbursements and net cash flows of the Loan Parties and their Subsidiaries for the prior period; provided that any such report and Cash Flow Budget shall contain supporting information reasonably requested by the Administrative Agent.
Cash Flow Budget. The Administrative Agent and the Lenders shall have received a cash flow budget for the 20-week period beginning on the Closing Date, in form and substance acceptable to the Administrative Agent and the Majority Lenders.
Cash Flow Budget. Not later than the third Business Day of each week, a rolling thirteen (13) week budget (the "Cash Flow Budget") satisfactory in form and substance to the Agent. The Cash Flow Budget shall, among other things, describe in reasonable detail all of the projected payments and receipts of cash by and to the Borrower for the thirteen week period commencing as of the first Business Day of such week. In making such projections, the Borrower shall use reasonable assumptions concerning, among other things, inventory levels, the collection time for outstanding receivables, weekly sales volume and such other matters as the Agent may determine. The Cash Flow Budget must be based on the same assumptions, and contain the same information as that used by the Borrower in the management of its business. (c)
Cash Flow Budget. On or before the Fourth Forbearance Effective Date, the Company shall provide to the Administrative Agent and the Lenders a daily cash flow budget for the Loan Parties covering the Second Extended Forbearance Period that is acceptable to the Administrative Agent and the Lenders in their sole discretion (the “Second Extended Forbearance Period Budget”). Beginning on the last day of the first full week after the Fourth Forbearance Effective Date and the last day of each week thereafter, the Loan Parties will furnish to Administrative Agent a variance report (“Cash Flow Variance Report”) setting forth actual cash receipts and disbursements of the Loan Parties for the prior week and setting forth for the period from the Fourth Forbearance Effective Date through the end of such week a comparison to the Second Extended Forbearance Period Budget for the same period, both in dollar and percentage form; each such Cash Flow Variance Report shall include explanations for all material variances and shall be certified by the Chief Financial Officer of the Company. Compliance with the Second Extended Forbearance Period Budget shall be tested as of the last day of each week (each a “Testing Period”), as follows: the aggregate amount of all cash flow expenditures [***] (the “Cash Flow Tested Expenditures”) for each Testing Period shall be no greater than 105% of the cumulative amount of Cash Flow Tested Expenditures set forth in the Second Extended Forbearance Period Budget for such Testing Period.”
Cash Flow Budget. On or before April 26, 2011, the OSP shall prepare and deliver a 13 week cash flow budget (the “CF Budget”) with respect to the Loan Parties’ operations, and the CF Budget shall be updated and extended no later than every 10 week period thereafter for the 13 week period commencing immediately after the expiry of the then extant CF Budget, such that a 13 week CF Budget is in place and effective at all times. Each CF Budget shall include, among other things, receipts from Affiliates and require collections on accounts due from Affiliates on a current basis (to the extent that funds are available to make the required payments on a current basis, provided that to the extent that the Loan Parties represent that funds are not so available to the Affiliates, FTI/Weinsten shall have confirmed and then certified to the Agents and the Lenders that (i) sufficient funds are not available for such payments, and (ii) the absence of sufficient funds has not been caused by the Affiliates’ direct expenditure of funds in connection with items described in the then current CF Budget in lieu of the Loan Parties’ expenditure of funds therefor). The initial CF Budget, each extension thereof, and any amendments to any CF Budget shall be in form and substance reasonably acceptable to the Agents, with the Consent of the Required Lenders (not to be unreasonably withheld). The Loan Parties shall use their commercially reasonable, good faith efforts to conduct their operations in accordance with the then effective CF Budget.
Cash Flow Budget. Attached hereto, and incorporated by reference as Exhibit A, is a cash flow statement, prepared by the Borrowers which enumerates in detail on a weekly basis Pitt Penn and EMC’s (together, the “Operating Borrowers”) projected, collections and cash expenses of operations from the Forbearance Effective Date through the week ending August 1, 2008 (the “Budget”).
Cash Flow Budget. The Cash Flow Budget is true, correct and complete and represents Borrower's current estimate of projected revenues and expenses for the Mortgaged Property during the term of the Loan; provided, however, the Cash Flow Budget is not to be viewed as facts and actual results during the period or periods covered by the Cash Flow Budget may differ from such Cash Flow Budget and the differences may be material. Notwithstanding the foregoing, Borrower acknowledges that a variation in the Cash Flow Budget which has not been approved by Lender which is deemed to adversely affect the Cash Flow Budget as provided in Section 3(a)(1) hereof constitutes and Event of Default under this Loan Agreement, unless a revised Cash Flow Budget is submitted to and approved by Lender pursuant to the terms of Section 3(a)(1). In the event the Borrower submits and Lender approves a revised Cash Flow Budget pursuant to paragraph 3(a)(1), the revised Cash Flow Budget shall be the Cash Flow Budget for all purposes hereunder.
Cash Flow Budget. To Agent, not later than Tuesday of every calendar week, an updated Cash Flow Budget (in the form of EXHIBIT 1.2) for the thirteen (13) week period commencing on the immediately preceding Friday, together with a report, comparing the actual cash flow of Borrower for the previous calendar week to the Cash Flow Budget for such period, together with an explanation in reasonable detail of any variances with Cash Flow Budget for such period. Each such updated Cash Flow Budget shall be subject to the approval of Agent and shall not be the "Cash Flow Budget" for any purpose of this Agreement absent such approval by Agent;
Cash Flow Budget. Notwithstanding anything to the contrary set forth in Section 7.1(k)(ii) of the Credit Agreement, the delivery by the Borrower of the budget for the period ending November 6, 2004 as set forth on Annex I hereto (the "August 11 Budget") shall satisfy the Borrower's obligations under Section 7.1(k)(ii) for such period; provided that notwithstanding anything contained in the August 11 Budget or in the Credit Agreement to the contrary, for the period commencing on the date hereof and ending on November 6, 2004, (i) the aggregate amount of outstanding Revolving Loans shall at no time exceed $75,000,000 and (ii) the aggregate amount of Letters of Credit Obligations plus the aggregate amount of outstanding Revolving Loans shall at no time exceed $82,000,000, it being acknowledged and agreed that the failure by the Borrower to comply with the requirements set forth above shall constitute an immediate Event of Default under Section 9.1 of the Credit Agreement. For the avoidance of doubt, for purposes of determining compliance with Section 8.23 of the Credit Agreement, all references to the "Budget" in Section 8.23 shall be deemed to be references to the August 11 Budget.
