Applicable Budget definition

Applicable Budget shall have the meaning assigned to such term in Section 8.17(a).

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Applicable Budget means the annual budget for the Company for the applicable 2020 Earnout Period or 2021 Earnout Period. The Applicable Budget for the 2020 Earnout Period is attached hereto as the first two columns of Exhibit 2.8(c) and the Applicable Budget for the 2021 Earnout Period shall be mutually agreed upon by Purchaser and Management and shall have an annual EBITDA of no less than $18.3 million. No representation or warranty is made as to Company’s ability to achieve the Applicable Budget and the Applicable Budget is no guarantee of performance.

Applicable Budget means (x) for calendar year 2002, the budget documentation approved by the Holdco Board and submitted to JP Morgan Chase as provided u▇▇▇▇ ▇▇▇ Companies' Senior Secured Credit Facility with JP Morgan Chase and (y) for an▇ ▇▇▇▇▇▇▇e▇▇ ▇▇lendar year, the corresponding budget documentation approved by the Holdco Board and submitted to the Companies' senior secured lender(s) or, if no such documentation is submitted or if such documentation fails to set forth quarter-end EBITDA and FCF targets, the budget documentation for such year approved by the Holdco Board for the Companies' financial planning and corporate planning purposes. The Holdco Board shall approve an Applicable Budget for each calendar year during the Term.

Examples of Applicable Budget in a sentence

• The Borrower shall have delivered to the Lenders an Applicable Budget in form and substance satisfactory to the Required Lenders.

• Empire shall manage the SYN Operations, commencing with the Synergy Acquisition and continuing thereafter until the end of the term of this Agreement, in accordance with the Applicable Plan and within the Applicable Budget, without obtaining approval of the Board of the details of such management, but subject to approvals by the Board required by law and to the requirements for approval by the Board specified in Article 9 herein.

• Empire may amend an Applicable Plan or an Applicable Budget, or both, at any time and from time to time by preparing such amendment, submitting the same to the Board with such supporting information as the Board may require, and obtaining the Board's approval thereof, but no such amendment shall be effective unless and until approved by the Board.

• All material facts in the Applicable Budget are accurate and the Borrower has disclosed to each Lender all assumptions in the Applicable Budget, it being understood that in the case of projections, such projections are based on reasonable estimates, on the date as of which such information is stated or certified.

• Any action that needs to be taken in the performance of the Management Services that is not provided for in an Applicable Plan or Applicable Budget or otherwise provided for in this Agreement shall be taken in accordance with Empire's good faith judgment as to what is in the best interests of SYN and its subsidiaries.

• The Fixed Fee (the amount of which for each fiscal year of SYN, or part thereof, will be included in the Applicable Budget for such period), is intended to cover Empire's operating overhead in performing its services under this Agreement.

• Pursuant to the Applicable Budget and when applicable, Manager shall make or cause to be made all ordinary repairs and replacements necessary to preserve the Premises in its present condition, in all material respects, and for the operating efficiency thereof.

• Sweetheart shall retain complete discretion over the continued use of any of the Personnel, and shall have the right to substitute or replace employees, provided, however, that the staffing shall always be sufficient to manufacture, sell and distribute the Products in accordance with the Applicable Budget and consistent with Sweetheart's obligations under the Contract.

• The cost of such insurance shall be included in each Applicable Budget.

More Definitions of Applicable Budget

Applicable Budget means any operating or capital budget approved by the Representatives and covering the fiscal period in question.

Applicable Budget from the Closing Date until the Final Budget is approved as provided herein, the Initial Budget, and thereafter the Final Budget.