Variance Report Sample Clauses

Variance Report. On a weekly basis commencing with the last Business Day of each calendar week ending the week following the Closing Date, a variance report (a “Variance Report”) certified by the chief financial officer of Borrower, in form reasonably acceptable to the Administrative Agent and the Required Lenders, setting forth (i) the actual Aggregate Cumulative Net Cash Flow for such immediately preceding calendar week on a line-item basis, (ii) the variance in dollar amounts of the Aggregate Cumulative Net Cash Flow for each 4-week period (or, to the extent less than 4-weeks have elapsed since the Closing Date, such shorter period of time) from those reflected for the corresponding period in the then applicable Approved Budget and (iii) the variance in dollar amounts of the actual expenditures and disbursements in respect of professional fees for each 4-week period (or, to the extent less than 4-weeks have elapsed since the Closing Date, such shorter period of time) from those reflected for the corresponding period in the then applicable Approved Budget.

Variance Report. No later than 5:00 p.m., New York City time, every other Thursday (commencing on August 8, 2024), (x) an aggregate variance report (a “Variance Report”), which shall be substantially consistent in form, scope and detail as the Approved Budget, and which will contain columns with the prior two weeks’ actuals and budget figures in a form that matches the Approved Budget (with individual variance figures for each line item in the Approved Budget) plus a cumulative forecast compared against cumulative actual figures, (y) written commentary from management of the Borrower explaining all variances in excess or $1,000,000 on a line item by line item basis and (z) a description of cash movements and other transactions between any Credit Party and any affiliate (other than another Credit Party) during the prior two week period.

Variance Report. Not later than 12:00 p.m. Central Time on Thursday (or, if such Thursday is not a Business Day, not later than 12:00 p.m. Central Time on the immediately succeeding Business Day) (or such later date as may be agreed to by the Administrative Agent in its sole discretion) of each week commencing with the Thursday after the first full four calendar weeks following the Petition Date and on a weekly basis thereafter (each, a “Report Date”), a certificate which shall include a weekly variance report certified by a Responsible Officer, which variance report shall measure performance for all actual disbursements made (A) with respect to the first Report Date, during the period from and including the Petition Date through and including the Friday ending immediately prior to the first Report Date and (B) with respect to each Report Date thereafter, the prior four weeks ending on the Friday immediately preceding such Report Date (the periods described in the foregoing clauses (A) or (B), as applicable, the “Test Period”) on a rolling basis against the amount budgeted therefor in the DIP Budget, shall include calculations showing any discrepancies between anticipated and actual receipts, shall include calculations that demonstrate whether the Credit Parties are in compliance with Section 9.01(a) (for the avoidance of doubt, compliance with Section 9.01(a) shall be tested daily, but reported in the variance report) and Section 9.01(b), shall provide for disbursements and receipts items to be broken out as line items, but for the avoidance of doubt (other than those disbursements tested pursuant to Section 9.01(b)) shall not be tested.

Variance Report. The Debtors shall prepare a variance report (the “Variance Report”), and deliver such Variance Report to the Consenting Term Lender Advisors setting forth for the period commencing each Friday and ending on the following Thursday of any completed week thereafter (the “Testing Period”) ending on the Testing Date: • a line item comparison covering the Testing Period just ended setting forth the actual operating cash receipts and the actual disbursements against the amount of the Debtors’ projected operating cash receipts and projected disbursements, respectively, as set forth in the (i) Initial DIP Budget or (ii) Approved DIP Budget; and • as to each variance contained the Variance Report, an indication as to whether such variance is temporary or permanent and an explanation in reasonable detail for any variance. Permitted Variances Following the first two full weeks after the Petition Date, during which period compliance with the budget shall not be tested, covenant compliance will be tested weekly. Actual operating disbursements and actual operating cash receipts shall be tested against the Initial DIP Budget (or, if one or more Approved DIP Budgets have been subsequently approved, such Approved DIP Budget, solely with respect to the period covered by such subsequent Approved DIP Budget, it being understood that to the extent the Initial DIP Budget and/or any subsequent Approved DIP Budgets cover overlapping periods of time, the most recent Approved DIP Budget shall govern) during each Testing Period. The Debtors shall comply with the Approved DIP Budget, subject to the following permitted variances (as amended from time to time, the “Permitted Variances”): With respect to the first Variance Report: • aggregate operating cash receipts shall not be less than 80% of the projected operating cash receipts set forth in the Approved DIP Budget; and • aggregate actual operating disbursements shall not exceed 120% of the projected disbursements set forth in the Approved DIP Budget; provided that, for the avoidance of doubt, the actual operating disbursements considered for determining compliance shall exclude the Debtors’ disbursements in respect of professional fees (including all Consenting Stakeholders’ Fees and Expenses). With respect to the second Variance Report: • aggregate operating cash receipts shall not be less than 80% of the projected operating cash receipts set forth in the Approved DIP Budget; and • aggregate actual operating disbursements shall not...

Variance Report. Furnish Agent, weekly (no later than Friday of each week (or, if Friday is not a Business Day, on the next succeeding Business Day)), (a) commencing with the first full week after the first Cash Flow Forecast required pursuant to Section 9.20 has been received, a variance report comparing the actual cash receipts and cash disbursements for the prior week to the forecasted results for such week as set forth in the most recently received Cash Flow Forecast and (b) a variance report comparing the quarterly revenue forecast from the most recently received Weekly Information Report to the quarterly revenue forecast from the immediately preceding Weekly Information Report.

Variance Report. On or prior to Thursday of each week, commencing with the first Thursday following the Closing Date, to the Specified Parties a report (the “Variance Report”) consisting of (i) a 13-Week Cash Flow Forecast variance report on a line item basis for the preceding rolling four (4) calendar weeks ending as of the preceding calendar week; provided that, (x) the first such Variance Report shall only include a comparison for the preceding calendar week, (y) the second such Variance Report shall only include a comparison for the preceding two calendar weeks and (z) the third such Variance Report shall only include a comparison for the preceding three calendar weeks and (ii) a Liquidity report showing calculations of the Liquidity as of the preceding calendar week-end, in each case of clauses (i) and (ii) certified by a Responsible Officer of the Borrower.

Variance Report. 1995 and YTD November 1996.

Variance Report. On Wednesday of each calendar week, a variance report (a “Variance Report”) with respect to the immediately preceding calendar week (i) setting forth actual cash receipts and disbursements of 21C and its Domestic Subsidiaries (other than the Borrower and its Subsidiaries) for such calendar week and setting forth all the variances, on a line item and aggregate basis, as compared to the corresponding amounts set forth in the Approved Budget for such week/period, in each case, on a weekly basis and a cumulative basis from the beginning of the first forecasted week covered by the Approved Budget, together with a certificate of the Chief Financial Officer of 21C and its Domestic Subsidiaries (other than the Borrower and its Subsidiaries) (x) explaining in reasonable detail all material variances from the Approved Budget for such week/period and (y) in the case of a Variance Report delivered on a Test Date, certifying compliance by 21C and its Domestic Subsidiaries (other than the Borrower and its Subsidiaries) with the Permitted Variances for such Testing Period or identifying and explaining in reasonable detail any non-compliance by 21C and its Domestic Subsidiaries (other than the Borrower and its Subsidiaries) with the Permitted Variances for such Testing Period.

Variance Report. The Borrower will furnish to the Administrative Agent and to the Commitment Parties and the Lenders who have signed a non-disclosure agreement: (i) As soon as available but in any event within five (5) Business Days after the end of each Budget Testing Period (with the first variance report due on February 19, 2016), a variance report, showing comparisons of actual amounts for each line item against the budgeted amounts for such line item in the Approved Budget for the preceding two-week period and on a cumulative basis for the immediately preceding Budget Testing Period accompanied by a narrative explanation. For purposes of the first Budget Testing Period, such variance report shall compare cumulative actuals and budgeted amounts from the first week of the Approved Budget through the week ending February 13, 2016. (ii) As soon as available but in any event within five (5) Business Days after the end of each Capital Expenditure Testing Period (with the first variance report due on February 5, 2016), a variance report, showing comparisons of actual amounts for each line item for the month then ended against the budgeted amounts for such line item in the Capital Expenditure Budget for such month then ended (as well as on a cumulative basis from January 1, 2016 through the end of such Capital Expenditure Testing Period), in each case calculated on GAAP basis, accompanied by a narrative explanation.