Approved DIP Budget definition

Approved DIP Budget means each Cash flow forecast, on a line item basis and in reasonable detail, of (a) Cash receipts, Cash disbursements and net Cash flows, each as to the First Lien Collateral, including Eligible Receivables, Eligible Mortgage Loans, Eligible REO Property, Cash and Cash Equivalents in the Blocked Accounts, and Collections, (b) aggregate outstanding Loans, (c) the Book Value of Eligible Receivables, Market Value of Eligible Mortgage Loans and Appraised Value of Eligible REO Property and (d) projected availability under the Revolving Facility, for a period of twenty (20) weeks, set forth on a weekly basis, as approved by Administrative Agent in accordance with Section 5.02(a) (or, with respect to the Initial Approved DIP Budget, as delivered pursuant to Section 3.01(h)), commencing with the Initial Approved DIP Budget and as updated from time to time as required under Section 5.02.

Approved DIP Budget has means, as of any date of determination, the Updated Budget then in effect pursuant to Section 5.01(d), or, if no Updated Budget has become the Approved DIP Budget pursuant to Section 5.01(d), the Initial Budget.

Approved DIP Budget has the meaning given such term in the DIP Order.

Examples of Approved DIP Budget in a sentence

• All amounts authorized to be paid pursuant to this Order are subject to the limitations and restrictions imposed by the Approved DIP Budget (as defined in the DIP Credit Agreement).

• One of their first endeavours occurred when the Federation of Saskatchewan Indian Nations (FSIN) approached Father Andre to assist in planning and implementing a one-week summer camp for at-risk First Nations youth.

• All borrowings under the DIP Facility, and the use of Cash Collateral, shall at all times comply with the Approved DIP Budget (subject to Permitted Variances) and the DIP Loan Documents.

• All borrowings under the DIP Facility, and the use of Cash Collateral (other than Cash Collateral consisting of Prepetition Working CapitalCollateral), shall at all times comply with the Approved DIP Budget (subject to Permitted Variances and Permitted Carrybacks/Carryforwards) and the DIP Term Sheet.

• For the avoidance of doubt, none of the DIP Loan Parties will use any DIP Loans, the proceeds of the DIP Facility or DIP Collateral (including Cash Collateral) in a manner or for a purpose other than those consistent with the Approved DIP Budget, the New Ark Budget, the DIP Loan Documents, and this Interim Order.

More Definitions of Approved DIP Budget

Approved DIP Budget means, initially, the Initial DIP Budget and, thereafter, any Subsequent DIP Budget which shall be approved by the Required Lenders in accordance with Section 5.01(c)(i) with the most recently approved budget constituting the “Approved DIP Budget”.

Approved DIP Budget shall have the meaning assigned to such term in the Interim Order or the Final Order, as applicable, and the Initial Budget shall be the “Approved DIP Budget” for all purposes of this Agreement and the other Loan Documents until superseded by any supplemental budget as set forth in Section 5.01(o) and for purposes of the DIP Variance Report and the covenant set forth in Section 6.09 shall refer to the most recently delivered Approved DIP Budget for the weeks covered thereby, and for prior periods, the Approved DIP Budget in effect at the beginning of such period; provided that for the first four weeks for which the DIP Variance Report and the covenant set forth in Section 6.09 are applicable, the Approved DIP Budget shall be the Initial Budget for all purposes.

Approved DIP Budget means the Approved DIP Budget as it is subject to the Permitted Variances). For the avoidance of doubt, for purposes of budget variance testing in accordance with this Section 7.14, (1) the amounts set forth in the Approved DIP Budget under “Professional Fees”, (2) the amounts set forth in the Approved DIP Budget under “Debt Services” and (3) adequate protection costs, shall be excluded (this sentence the “Carve Out”).

Approved DIP Budget means the then most current budget prepared by the Borrower and approved by the Required Lenders in accordance with Section 5.13.

Approved DIP Budget means the most recently delivered DIP Budget that (i) has been

Approved DIP Budget means the initial DIP Budget with 12 monthly periods, delivered in accordance Section 4.01(a)(xiii)(x) and, thereafter, the then most recent DIP Budget delivered by the Borrower in accordance with Section 6.02(h), it being understood that (i) if the Administrative Agent or the Required Lenders have not objected within five Business Days of receipt thereof to an updated DIP Budget delivered in accordance with Section 6.02(h), such updated DIP Budget shall be deemed to have been approved, or (ii) if the Administrative Agent or the Required Lenders have objected to an updated DIP Budget delivered in accordance with Section 6.02(h), then such DIP Budget shall not be approved until a replacement therefor is submitted by Borrower and approved in accordance with the foregoing.

Approved DIP Budget shall have the meaning ascribed to it in the Financing Order.