Variance Report Sample Clauses

Variance Report. On October 14, 2009, and on each Wednesday thereafter, furnish to the Administrative Agent for prompt further distribution to each Lender a variance report (the “Variance Report”) setting forth actual cash receipts and disbursements of the Borrower and its Subsidiaries for the prior week ending on the previous Friday and setting forth all the variances, on a line-item basis, from the amount set forth for such week in (i) the most recent DIP Forecast and (ii) the most recent DIP Budget delivered by the Borrower; each such report shall include explanations for all material variances and shall be certified by the chief financial officer of the Borrower.

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. 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. 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. 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 hereof 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. No later than the Thursday of each week, commencing with the first such date following the Closing Date, a variance report with respect to the Weekly Budget, showing on a line-by-line basis actual receipts and disbursements and the total available cash for the last day of the prior week for the cumulative period since the Closing Date and noting therein all cumulative variances on a line-by-line basis from the amounts in the Weekly Budget (the “Variance Report”). The Variance Report shall include explanations for all material variances and shall be certified by the chief financial officer of Borrower;

Variance Report. On or prior to Thursday of each week, (i) an Approved Budget variance report on a line item basis and (ii) a Liquidity report, in each case, for the preceding rolling four (4) calendar weeks and showing calculations of the Liquidity as of the preceding calendar week-end, in each case certified by a Responsible Officer of the Borrower (collectively, the “Variance Report”); 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.

Variance Report. (if applicable, describe how the work differs from the proposed research) 1) The Japanese sourced materials, required for the activity, were provided free of charge, accepting payment for shipment costs only and 2) the Japanese collaborators did not accept full payment for their time and travel.

Variance Report. Not later than 7:00 p.m. (New York City time) on the Wednesday of each week (or if such day is not a Business Day, the next succeeding Business Day) commencing after the Closing Date, a comparison of each line item set forth in the Approved Budget for the week most recently ended on the previous Friday against the actual performance for such week with respect to each line item, including actual cash receipts, disbursements and total available liquidity (and on a cumulative basis from the Closing Date to the date of such report), substantially in the form of Exhibit H (a “Variance Report”), in each case with written explanations of material variances, in form and substance reasonably satisfactory to Administrative Agent and certified by a chief financial officer of Borrower that such Variance Report has been prepared in good faith;

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...