Budget Compliance Report definition
Budget Compliance Report shall have the meaning assigned to such term in Section 5.14(d).
Budget Compliance Report in Section 1.01 of the Financing Agreement is hereby amended and restated in its entirety to read as follows:
Budget Compliance Report that sets forth as of the preceding Saturday of each such week, for the prior week and on a cumulative basis from the Petition Date through the fourth (4th) full week after the Petition Date and then on a rolling four (4) week basis at all times thereafter (each such period referred to herein as a “Measurement Period”), the actual results for the following line items set forth in the Approved Budget: (i) “Total Cash Receipts”; (ii) “Total Operating Disbursements”; (iii) “Total Non-Operating Disbursements”; and (iv) “Professional Fees”, all in a form, and shall contain supporting information, reasonably satisfactory to the Administrative Agent in its sole discretion.
Examples of Budget Compliance Report in a sentence
The Budget Compliance Report, referenced infra, shall also include information regarding any disbursements to or for the benefit of Federated Sports in accordance with the Federated Sports Budget for the prior week.
The Debtor also shall deliver to the Lender on a weekly basis, at the same time as the Budget Compliance Report and covering the same period, a copy of the Debtor’s current accounts receivable aging report and accounts payable aging report certified in writing under penalties of perjury as true and accurate by an authorized representative of the Debtor.
Provide Agent and each Lender with each of the documents set forth below at the following times in form satisfactory to the Required Lenders: Weekly (due on Wednesday of each week for the preceding week) · Compliance Certificate and Budget Compliance Report · Borrowing Base Certificate · reporting of weekly sales, collections and credits, · a Value Pay Plan ageing summary, · updated In-transit Credit Card Receipts for the prior week, · Inventory reports, and · A system generated perpetual inventory report.
More Definitions of Budget Compliance Report
Budget Compliance Report has the meaning set forth in Section 5.15(k)(ii).
Budget Compliance Report means a report, in form and substance reasonably satisfactory to the Origination Agent, that sets forth, through the end of the immediately preceding month, a comparison of:
Budget Compliance Report means a report, in form and substance reasonably satisfactory to the Origination Agent, that sets forth, through the end of the immediately preceding week, a comparison of: (a) (i) the actual cash receipts for the immediately preceding two week period to the projected cash receipts for such two week period, and (ii) the actual cash disbursements, on a line item basis, for the immediately preceding two week period to the projected cash disbursements, on a line item basis, for such two week period, each as set forth in the Budget for such period, together with a statement as to whether a Material Adverse Deviation has occurred or not.”
Budget Compliance Report means a report, in form and substance reasonably satisfactory to the Origination Agent, that sets forth, through the end of the immediately preceding month, a comparison of (a) (i) the actual cash receipts for the immediately preceding one month period to the projected cash receipts for such one month period, (ii) the actual cash disbursements, on a line item basis, for the immediately preceding one month period to the projected cash disbursements, on a line item basis, for such one month period, and (iii) the actual Total Invoicing for the immediately preceding two month period to the projected Total Budgeted Invoicing for such two month period, and (b) (i) the actual cash receipts for the immediately preceding two month period to the projected cash receipts for such two month period, (ii) the actual cash disbursements, on a line item basis, for the immediately preceding two month period to the projected cash disbursements, on a line item basis, for such two month period, and (iii) the actual Total Invoicing for the immediately preceding two month period to the projected Total Budgeted Invoicing for such two month period, each as set forth in the Budget for such period, together with a statement as to whether a Material Adverse Deviation has occurred or not.”
Budget Compliance Report has the meaning specified therefor in Section 8.01(c).
Budget Compliance Report means a report, in form and substance reasonably satisfactory to the Origination Agent, that sets forth, through the end of the immediately preceding month, a comparison of (a) (i) the actual cash receipts for the immediately preceding four week period to the projected cash receipts for such four week period, and (ii) the actual cash disbursements, on a line item basis, for the immediately preceding four week period to the projected cash disbursements, on a line item basis, for such four week period, and (b) (i) the actual cash receipts for the immediately preceding eight week period to the projected cash receipts for such eight week period, and (ii) the actual cash disbursements, on a line item basis, for the immediately preceding eight week period to the projected cash disbursements, on a line item basis, for such eight week period, each as set forth in the Budget for such period, together with a statement as to whether a Material Adverse Deviation has occurred or not.”