Permitted Variances. Permitted Variances under the Budget are exceeded for any period of time (subject to the proviso in Section 6.3(a)); or
Permitted Variances. Obligors shall not permit or cause, for any Performance Period, (i) the Receipts Variance to exceed twenty-five percent (25%) (as compared to budget) or (ii) the Disbursements Variance to exceed 20% (as compared to budget). The covenants and requirements set forth in this Section 10.3.1 being, the “Budget Covenant”.
Permitted Variances. All Workable Orders will be subject to variance by Supplier from the purchase order quantity per the following schedule: Order Size % Variance Not to Exceed Up to 1,200 +/-[*****]% N/A 1,201 to 5,000 +[*****]% N/A -[*****]% N/A 5,001 to 50,000 +[*****]% N/A -[*****]% N/A Over 50,000 +[*****]% [*****] -[*****]% N/A SCHEDULE 7.6.1 Printed Component Ordering Procedures New Release — Commercial/Deluxe Initial Order • Print requisition is received from the production office indicating finished goods quantity. • Buyer orders print in the quantity of [*****]% of the finished goods quantity; quantity ordered may be rounded up to the next price break point if it makes economic sense. • Buyer sets reorder point at [*****]% of finished goods quantity. Reorders • Reorders that will reduce on hand inventory below our reorder point will create a demand for print. The buyer will do a net asset computation to determine the quantity to be ordered? Reorder quantity = Reorder Point Quantity + FG Reorder Quantity - Printed Material On Hand. • The Reorder Point Quantity is recalculated, and changed if applicable, each time the printed material is reordered. Various factors including sales, finished goods inventory, and market intelligence are considered when assessing Reorder Point Quantities. New Release — Limited Edition Initial Order • Print requisition is received from the production office indicating finished goods quantity. • Buyer orders print in the quantity of [*****]% of the finished goods quantity; quantity ordered may be rounded up to the next price break point if it makes economic sense. • Buyer keeps the Reorder Point Quantity at [*****]; printed material is only ordered on demand. Reorders • Printed material is only ordered when finished goods orders are received. • Buyers order print in the quantity of [*****]% of the finished goods quantity. New Release — Single Initial Order • Print requisition is received from the production office indicating finished goods quantity. • Buyer orders print in the quantity of [*****]% of the finished goods quantity; quantity ordered may be rounded up to the next price break point if it makes economic sense. • Buyer sets reorder point at [*****]% of finished goods quantity. Reorders • Reorder strategy is the same as New Release — Commercial/Deluxe. Promotional Initial Order • Print requisition is received from the production office indicating finished goods quantity. • Buyer orders print in the quantity of [*****]% of the finish...
Permitted Variances. Commencing with the third Variance Report, the Loan Parties shall not permit the Receipts Variance, the Disbursements Variance or the Professional Fee Variance with respect to any Applicable Period to exceed the Permitted Variance.
Permitted Variances. The DIP Loan Parties shall not make any payment that would result in occurrence of any of the following, or otherwise permit any of the following to occur (the “Budget Covenant”): (i) a negative variance with respect to receipts, taken on a line-item or cumulative basis, to exceed 10.0%; (ii) a positive variance with respect to disbursements (provided that disbursements to (x) the DIP Lender Professionals and (y) the professionals retained by the Debtors (including (i) Rothschild Inc., (ii) Davis Polk & Wardwell LLP, (iii) Richards, Layton & Xxxxxx X.X. axx (xx) Kurtzman Carxxx Xxxxxxxxxxx LLC) on account of such Xxxxxxx’ xxxxxxsionals’ standard hourly rates or similar terms of engagement (but excluding, in all cases, any success or exit fee or bonus to be paid to any of the Debtors’ professionals, except with the consent of the Required DIP Lenders or as set forth in the Approved Budget), shall not be included or otherwise considered for such variance testing), taken on a line-item or cumulative basis, to exceed 10.0%; (iii) the variance in total cash burn by the DIP Loan Parties to exceed 10.0%; or (iv) the making of any disbursement by any DIP Loan Party not contemplated by the Approved Budget (after giving effect to the foregoing variances) without having received the prior written consent of the Required DIP Lenders (which consent may be withheld in their sole discretion); provided that, for purposes of determining compliance with such Budget Covenant, there shall be permitted a carry-forward of any unused line-item surplus from week to week, solely as to such line item (and not on a cumulative basis) (such variances, collectively, the “Permitted Variance”). Unless consented to by the Required DIP Lenders, the DIP Loan Parties’ failure to comply with the Budget Covenant shall constitute an Event of Default.
Permitted Variances. The Debtors shall not permit (i) aggregate Actual Net Cash Flows to be less than 85% of the projected cumulative cash flows set forth in the Approved Budget, in each case, for the relevant four-week budgeted period (such deviations from the applicable projected amount set forth in the Approved Budget satisfying the “Permitted Variances”); provided that, for the avoidance of doubt, the cash disbursements considered for determining compliance with this covenant shall exclude the Debtors’ disbursements in respect of restructuring professional fees (including, without limitation, amounts paid to any Committee professionals, payments made to the Prepetition Secured Parties on account of professional fees, and professional fee payments to other creditors or creditor groups (such excluded cash disbursements, the “Restructuring Professional Fees”)), (ii) Liquidity to be less than $40,000,000 as of 11:59 p.m. prevailing Central time on the last business day of the calendar week in which the Initial Draw occurs or any calendar week thereafter; provided that “Liquidity” shall mean, as of any time of determination, (A) the amount of the Debtors’ and their consolidated subsidiaries’ unrestricted cash and cash equivalents plus (B) the amount of any undrawn DIP Commitments and (iii) Cash Liquidity to be less than $30,000,000 as of 11:59 p.m. prevailing Central time on the last business day of the calendar week in which the Initial Draw occurs or any calendar week thereafter; provided that “Cash Liquidity” shall mean, as of any time of determination, the amount of the Debtors’ and their consolidated subsidiaries’ unrestricted cash and cash equivalents.
Permitted Variances. Obligors shall not permit or cause on a cumulative basis, for any four Performance Periods (which, for the avoidance of doubt, will include actual performance from prior periods (on a rolling basis) until the 4th Performance Period or later of any Approved Budget), (i) the difference/variance, expressed as a percentage, of the actual net receipts (with respect to self-mining and hosted miners) and budgeted projected net receipts (with respect to self-mining and hosted miners) for such Performance Periods to be in excess of 25% to the extent such percentage is negative and (ii) the difference/variance, expressed as a percentage, of (a) the sum of the actual (x) net operating disbursements plus (y) net Capital Expenditures and (b) the sum of the budgeted (x) net operating disbursements plus (y) net Capital Expenditures for such Performance Periods to be in excess of 20%. The covenants and requirements set forth in this Section 10.3.1 (the “Budget Covenant”).
Permitted Variances. All Workable Orders will be subject to variance by Supplier from the purchase order quantity per the following schedule: Order Size Variance in Units 200 – 1000 [*****] 1001 – 2000 [*****] 2001 – 5000 [*****] 5001 – 10000 [*****] 10001 – 20000 [*****] 20001 – 50000 [*****] 50001 + [*****]
Permitted Variances. On the Closing Date, title to the Owned Property shall be subject to no facts, conditions, requirements or exceptions, excepting only (i) Permitted Exceptions, (ii) the Owned Property Leases, and (iii) liens, encumbrances or other matters of title created or suffered to be created by Purchasers or any party whose rights derive by, through or under Purchasers (collectively, the “Permitted Variances”).
Permitted Variances. Permitted Variances under the Approved Budget are exceeded for any relevant Test Period.
