DIP Budget. The Postpetition Lender shall have received the initial DIP Budget in form and substance acceptable to the Postpetition Lender, with such additional supporting documentation and information regarding the DIP Budget as the Postpetition Lender may require;
DIP Budget. The DIP Budget has been prepared by the Borrower in light of the past operations of the business of Borrower, and reflects the budget for the period contained therein, on a week by week basis. The DIP Budget is based upon estimates and assumptions stated therein, all of which the Borrower believes to be reasonable and fair in light of current conditions and current facts known to the Borrower at the time the DIP Budget is submitted to the Postpetition Lender and reflects the Borrower’s good faith and reasonable estimates of the future financial performance of Borrower at the time the DIP Budget is submitted to the Postpetition Lender and of the other information projected therein for the periods set forth therein.
DIP Budget. The Borrower shall not incur expenses or make payments for any category of expenses set forth the DIP Budget for any week in excess of the amount budgeted for such category in the DIP Budget for such week (provided, however, if the amount budgeted in any category for any week is not paid during such week, the unpaid amount budgeted shall be carried forward and added to the amount budgeted for such category in each following week (without duplication) until paid);
DIP Budget. Incur expenses or make payments for any category of expenses set forth in the DIP Budget for any week in excess of the amount budgeted for such category in the DIP Budget for such week (provided, however, if the amount budgeted in any category for any week is not paid during such week, the unpaid amount budgeted shall be carried forward and added to the amount budgeted for such category in each following week (without duplication) until paid). Any variance from the DIP Budget shall be deemed to be a material variance and shall require the Postpetition Lender’s consent, and any amounts not included in the DIP Budget that have been approved for payment by the Bankruptcy Court shall not be funded unless and until approved by the Postpetition Lender.
DIP Budget. On the Thursday following each four-week period (with the first such delivery on June 11, 2020), an updated cash flow forecast for the 13-week period ending after the end of the immediately preceding calendar week (such updated budget shall thereafter be the DIP Budget) for information purposes only.
DIP Budget. The Loan Parties have disclosed any material assumptions with respect to the projections included in the DIP Budget and affirm that each such projection was prepared in good faith on the basis of the estimates and assumptions that were believed to be reasonable and fair in the light of conditions and circumstances existing at the time made, it being understood by the Lender Parties that such projections as to future events are not to be viewed as facts and that actual results during the period or periods covered by any such projections may differ from the projected results.
DIP Budget. Furnish to the Administrative Agent for prompt further distribution to each Lender, at the end of each week after the Interim Borrowing Order Entry Date, a budget (the “DIP Budget”) in form and substance satisfactory to the Instructing Group, a 13-week statement of receipts and disbursements for the next 13 weeks of the Borrower and its Subsidiaries, broken down by week, including weekly projected Capital Expenditures for such period, anticipated weekly uses of the DIP Facility for such period and the projected Borrowing Base calculation for each week included in such period, and which shall provide, among other things, for the payment of the fees and expenses relating to the DIP Facility, ordinary course administrative expenses, bankruptcy-related expenses and working capital and other general corporate needs (each a “DIP Budget”).
DIP Budget. The Administrative Agent shall have received a projected statement of sources and uses of cash for the Debtors and the North American DIP Guarantors on a consolidated basis, broken down by weeks, for the succeeding 13 calendar weeks.
DIP Budget. The Approved DIP Budget has been prepared in good faith on the basis of the assumptions stated therein, which assumptions were believed to be reasonable at the time made, it being understood that projections as to future events are not to be viewed as facts and actual results may vary materially from such forecasts.
DIP Budget. The DIP Budget and any amendments thereto were prepared by Borrower’s financial personnel and represents the good faith estimate of the Borrower at such time as to the probable course of Borrower’s business and financial affairs, over the periods shown therein, subject to the assumptions stated therein.
