BUDGET COMPLIANCE definition

BUDGET COMPLIANCE. “Testing Periods shall have the meaning specified in Section 7.1.15 [Budget Compliance].” “Three Week Testing Period shall have the meaning specified in Section 7.1.15 [Budget Compliance].” “Two Week Testing Period shall have the meaning specified in Section 7.1.15 [Budget Compliance].” “Updated Budget shall have the meaning specified in Section 7.3.5
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BUDGET COMPLIANCE. The Debtor shall not make any disbursements other than those set forth in the Budget; provided, however, that for any week in the Budget, the amounts for each line item may vary so long as the total variance for all costs in each category set forth in the Budget does not exceed 115% (or such other variance amounts as are acceptable to the Required DIP Lenders in their sole discretion) of the total amount set forth in the Budget on a cumulative, aggregate basis measured weekly by categories of costs (i.e., Manufacturing, Clinical, Facilities, Other Operating) as of the close of business on Friday of each week; provided, further, that the fees and expenses for professionals shall not be subject to the variance limit. The Borrower shall deliver by the end of the second business day of each week, together with the 13 Week Projections (as defined below), the weekly budget report described under the heading “Other Covenants” below FINANCIAL COVENANTS: The Debtor will be required to comply with the Budget as provided under the heading “Budget Compliance” above.
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BUDGET COMPLIANCE means that as of any time of analysis, the actual amount of cash funds and receipts received by the Borrower and cash disbursements made and expenses incurred by the Borrower during the prior week or Cumulative Period (and on a pro forma basis after giving effect to any advance then requested under this Agreement) do not vary from the Budget by an amount greater than (a) five percent (5%) with respect to cash disbursements and expenses incurred and (b) five percent (5%) with respect to receipts; provided, however, that cash disbursements cannot exceed the budgeted disbursements by up to 5% unless the actual receipts exceed the budgeted receipts by more than 5%.
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Related to BUDGET COMPLIANCE

  • Year 2000 Compliance has the meaning set forth in section 17.29 of the Management Agreement.

  • HIPAA Compliant means that a Loan Party to the extent legally required (i) is or will use commercially reasonable efforts to be in compliance in all material respects with each of the applicable requirements of the so-called “Administrative Simplification” provisions of HIPAA on and as of each date that any part thereof, or any final rule or regulation thereunder, becomes effective in accordance with its or their terms, as the case may be (each such date, a “HIPAA Compliance Date”) and (ii) is not and could not reasonably be expected to become, as of any date following any such HIPAA Compliance Date, the subject of any civil or criminal penalty, process, claim, action or proceeding, or any administrative or other regulatory review, survey, process or proceeding (other than routine surveys or reviews conducted by any government health plan or other accreditation entity) that could result in any of the foregoing or that has or could reasonably be expected to have a Material Adverse Effect.

  • Statement of Compliance means a Statement of Compliance related to fuel oil consumption pursuant to regulations 6.6 and 6.7 of Annex VI.

  • Annual Statement of Compliance As defined in Section 3.13.

  • Non-Compliance means failure/refusal to comply the terms and conditions of the tender;