Updated Business Plan. Without derogating from sections 5.6 and 7.3, Buyer and the Company shall have agreed to updates to the Business Plan (which thereafter shall be deemed to be the Business Plan for all purposes of this Agreement) which shall, among other things (a) provide that water rights approvals satisfactory to the Steering Committee in the manner set forth in Section 7.3 shall have been obtained prior to Closing, (b) indicate that Seller provided the relevant Governmental Authority with an environmental study which had been prepared in 1995 and updated recently to reflect changes from the date of the original survey, which survey shall be acceptable to the relevant Governmental Authority and (c) include wafer costs data as part of the financial plan assumptions as part of the base case.
Updated Business Plan. On or before February 7, 2020, Borrowers and the Financial Consultant must deliver to Agent and Lenders an updated business plan, which business plan shall describe those various restructuring initiatives to be implemented by the Borrowers, and otherwise must be reasonably satisfactory to Agent, in its discretion.
Updated Business Plan. On or prior to June 30, 2007, Tarpon shall, and to the extent necessary shall cause Steelbank to, prepare and deliver to Lender an updated business plan and related projections for Fiscal Years 2007 and 2008, each in a form acceptable to Lender.
Updated Business Plan. Without derogating from sections 5.6 and 7.3, Buyer and the Company shall have agreed to updates to the Business Plan (which thereafter shall be ________________________________________________________________________________ * An asterisk indicates confidential material has been omitted from this document filed separately with the Securities and Exchange Commission pursuant to Rule 24b-2 of the Securities Exchange Act of 1934, as amended. deemed to be the Business Plan for all purposes of this Agreement) which shall, among other things (a) provide that wafer rights approvals satisfactory to the Steering Committee in the manner set forth in Section 7.3 shall have been obtained prior to Closing, (b) indicate that Seller provided the relevant Governmental Authority with an environmental study which had been prepared in 1995 and updated recently to reflect changes from the date of the original survey, which survey shall be acceptable to the relevant Governmental Authority and (c) include wafer costs data as part of the financial plan assumptions as part of the base case.
Updated Business Plan. The Agent and the Lenders shall have received an update to the Business Plan (the “Updated Business Plan”) previously provided to the Agent and the Lenders on September 17, 2002 entitled “Fiscal 2003 Business and Financial Plan” which shall include projected quarterly financial statements of the Borrower and its Subsidiaries for the Fiscal Years 2004, 2005 and 2006 and the first two fiscal quarters of Fiscal Year 2007, substantially in a form acceptable to the Issuing Bank and the Lenders, such projections to be accompanied by a certificate of the chief financial officer and chief executive officer of the Borrower to the effect that such projections, in the reasonable judgment of the Borrower, are (A) based on estimates and assumptions, all of which are reasonable in light of the conditions which existed at the time such projections were made, (B) have been prepared on the basis of the assumptions stated therein, and reflect, as of the time so furnished and the First Amendment Effective Date, the reasonable estimate of the Borrower of the results of the operations and other information projected therein, and (C) are consistent with the Updated Business Plan.
Updated Business Plan. The Updated Business Plan reflects the sole and final business plan of the Borrower and has been approved and adopted by resolution of the Board of Directors of the Borrower.
Updated Business Plan. On or before the execution of this Amendment, the Borrowers have presented to the Lender (i) an updated 13-week cash flow projection for the succeeding 13 weeks, and (ii) a business plan dated March 13, 2003 with respect to the Borrowers' projected business operations for the succeeding 12 months (collectively, the "Business Plan"), a copy of which is annexed hereto marked Schedule 1. The Borrowers warrant and represent to the Lender that the Business Plan represents the Borrowers' good faith and reasonable estimation of the projected financial performance of the Borrowers' business for the periods set forth therein and is based upon estimates and assumptions stated therein, all of which the Borrowers believe to be reasonable and fair in light of conditions and facts known to management of the Borrowers as of the date of the preparation thereof (it being understood and acknowledged by the Lender that such financial performance as it relates to future events is not to be viewed as representations or warranties that such events will occur, and that actual results may differ from such projected financial performance).
Updated Business Plan. On or before March 1, 2003, the Borrowers shall present to the Lender (i) an updated 13-week cash flow projection for the succeeding 13 weeks, and (ii) a business plan with respect to the Borrowers' projected business operations for the succeeding 12 months (collectively, the "BUSINESS PLAN"). The Borrowers warrant and represent to the Lender that the Business Plan shall represent the Borrowers' good faith and reasonable estimation of the projected financial performance of the Borrowers' business for the periods set forth therein and will be based upon estimates and assumptions stated therein, all of which the Borrowers shall believe to be reasonable and fair in light of conditions and facts known to management of the Borrowers as of the date of the preparation thereof (it being understood and acknowledged by the Lender that such financial performance as it relates to future events is not to be viewed as representations or warranties that such events will occur, and that actual results may differ from such projected financial performance). G. Upon receipt of the Business Plan, the Lender and the Borrowers shall endeavor to determine whether, and on what terms and conditions, the Loan Agreement may be amended so as to facilitate continued borrowings thereunder by the Borrowers. In this regard, the Borrowers acknowledge and agree that: 1. No terms and conditions have yet to be agreed upon by the Lender; 2. The terms and conditions of any continued loan arrangement may be substantially different than those contained in the Loan Agreement at this time; 3. There is no commitment or obligation of the Lender to agree to any terms and conditions for the amendment and extension of the Loan Agreement; and 4. If the Lender and the Borrowers do reach agreement in principle with respect to
Updated Business Plan. The Borrowers have presented the Lender with an updated 13-week cash flow projection and business plan (the "BUSINESS PLAN"). The Borrowers: A. Warrant and represent to the Lender that the Business Plan represents the Borrowers' good faith and reasonable estimation of the projected financial performance of the Borrowers' business for the period or periods set forth therein and will be based upon estimates and assumptions stated therein, all of which the Borrowers shall believe to be reasonable and fair in light of conditions and facts known to management of the Borrowers as of the date of the preparation thereof (it being understood and acknowledged by the Lender, without limiting the terms and conditions of Part 2, Section VI, below, that such financial performance as it relates to future events is not to be viewed as representations or warranties that such events will occur, and that actual results may differ from such projected financial performance). B. Shall use their reasonable best efforts to operate their business in accordance with the Business Plan and to meet the financial performance benchmarks contained in the Business Plan.
Updated Business Plan. Within two Business Days after the end of each week, an Updated Business Plan for such week, all in reasonable detail and in form reasonably satisfactory to the Lenders, together with such other information as is customarily prepared by the Borrower on a weekly basis.
