Permitted Variance. Notwithstanding the Approved Budget, so long as the Termination Date shall not have occurred, the Debtors shall be authorized to use Cash Collateral in accordance with the Approved Budget, in an amount that would not cause the Debtors to use Cash Collateral for operating disbursements in an aggregate amount greater than one-hundred and fifteen percent (115%) of the operating disbursements in the Approved Budget for any calendar month period (a “Permitted Variance”). If the aggregate amount of Cash Collateral actually used by the Debtors, measured on a monthly basis, is less than the aggregate amount of Cash Collateral available for use by the Debtors in the Approved Budget during such period, then for purposes of the Permitted Variance, the Debtors may carry over any such unused amount to the future periods in the Approved Budget.
Permitted Variance. On each Report Date, the Credit Parties shall demonstrate in each variance report delivered pursuant to Section 8.01(s)(ii) that the actual disbursements made in the prior Test Period, excluding (i) any fluctuations in royalty payments, payments to working interest holders, or similar payments or ad valorem or other taxes due on account of production of oil and gas interests that are attributable to changes in commodity prices, (ii) adequate protection payments to the Pre-Petition Agent and the Pre-Petition Lenders, (iii) reimbursements to Midstream MLP and its subsidiaries for capital expenditures, (iv) Allowed Professional Fees, (v) settlement payments to Approved Counterparties and (vi) payments in respect of the Indebtedness, do not exceed the sum of the aggregate amount budgeted therefor in the DIP Budget for the applicable Test Period by more than fifteen percent (15%) of the budgeted amount for such Test Period (the “Permitted Variance”) on a cumulative basis for all disbursements made during such Test Period.
Permitted Variance. 154 10.13 Intercompany Limitations ................................................................................... 155 10.14
Permitted Variance. Commencing with the third Variance Report, the Loan Parties shall not permit the Sales Variance, Receipts Variance, the Disbursements Variance or the Professional Fee Variance with respect to any Applicable Period to exceed the Permitted Variance.
Permitted Variance. Notwithstanding the Approved Budget, without the consent of the Required Lenders (which may be communicated by e-mail from the Specified Financial Advisor), as of any Variance Testing Date, permit any variance of (x) the actual aggregate disbursements for the applicable Variance Testing Period in excess of (y) projected aggregate disbursements for such Variance Testing Period set forth in the Approved Budget (excluding, in each case of clauses (x) and (y), for purposes of this calculation, (i) payments of professional fees and expenses in connection with the Chapter 11 Cases and (ii) termination payments pursuant to any Swap Agreement) to exceed 15% of such projected amounts (such permitted variance, the “Permitted Variance” and, such limitation, the “Budget Covenant”).
Permitted Variance. The Loan Parties shall not permit:
(a) the actual “Receipts” for the most recently ended Variance Test Period to be less than 85% of the projected “Receipts” line-item for such Variance Test Period in the Approved Budget in effect at such time; or
(b) the sum of actual “Operating Disbursements” and actual “Capital Expenditures” for the most recently ended Variance Test Period to exceed 115% of the sum of the projected “Operating Disbursements” and the projected “Capital Expenditures” line-items for such Variance Test Period in the Approved Budget in effect at such time; provided that the Loan Parties shall be deemed to be in compliance with this Section 6.17(b) so long as the actual new in-patient admissions for such Variance Test Period exceed the projected new in-patient admissions for such Variance Test Period in the Approved Budget in effect at such time; provided, however, that the Specified Financial Advisor shall have provided an updated New Patient Report with respect to new in-patient admissions for such Variance Test Period within three (3) Business Days of the date on which the applicable Variance Report has been or should have been delivered to the Lenders containing the Specified Financial Advisor’s analysis of all reported new in-patient admissions for such Variance Test Period and the Specified Financial Advisor’s conclusion that based on such analysis the Loan Parties have verified that all such new patients have insurance benefits and/or adequate financial means to pay all costs and expenses of such new patient’s treatment.
Permitted Variance. Subject to the Permitted Variance (as defined below), permit actual “total receipts” to exceed, or “operating disbursements” to be less than, for any Variance Test Period, total receipts or operating disbursements projected in the Approved Budget for such Variance Test Period to be determined on a bi-weekly basis.
Permitted Variance. Commencing on the Friday of the third full calendar week after the Petition Date, budget variances (as defined below) shall be tested as of each Friday (each such date, a “Testing Date”) and such variance report shall be delivered on the Thursday following each such Friday. The Debtors shall not permit:
Permitted Variance. Commencing April 8, 2019, and on each Monday thereafter, Company shall not permit the actual aggregate amounts of disbursements of the Company and its Subsidiaries for the calendar week period ending on the immediately preceding Friday to exceed the amount of disbursements specified in the Budget for such period by more than 10.00% (the “Permitted Variance”). Fundamental Changes; Disposition of Assets; Xxxxxxxxxxxx.Xx Credit Party shall, nor shall it permit any of its Subsidiaries to, enter into any transaction of merger or consolidation (including through a plan of division), or liquidate, wind-up or dissolve itself (or suffer any liquidation or dissolution), or Dispose of, in one transaction or a series of transactions, all or any part of its business, assets or property of any kind whatsoever, whether real, personal or mixed and whether tangible or intangible, whether now owned or hereafter acquired, leased (as lessee), or licensed (as licensee), or make any Acquisition, except:
Permitted Variance. Commencing April 8, 2019, and on each Monday thereafter, Company shall not permit the actual aggregate amounts of disbursements of the Company and its Subsidiaries for the calendar week period ending on the immediately preceding Friday to exceed the amount of disbursements specified in the Budget for such period by more than 10.00% (the “Permitted Variance”).