Budget Variance Report means a report, in each case certified by a Responsible Officer of the Parent, in form reasonably satisfactory to the Required Lenders, delivered in accordance with Section 5.03(g), showing actual cash flows and the aggregate maximum amount of utilization of the Advances for each such week as of the end of the week immediately preceding the week during which such Budget Variance Report is delivered and the variance (as a percentage) of such amounts from the corresponding anticipated amounts therefor set forth in the DIP Budget.

Budget Variance Report means a weekly variance report prepared by a Responsible Officer of the Borrower, comparing for each applicable Variance Test Period the actual disbursements (excluding Other Disbursements) against anticipated disbursements (excluding Other Disbursements) under the then current Approved Budget, on a line item basis and in the same level of detail as set forth in the then current Approved Budget or in a form otherwise reasonably acceptable to the Financial Advisor and including an explanation, in reasonable detail, for any material line-item variance, certified by a Responsible Officer of the Borrower.

Budget Variance Report means a weekly report provided by the Borrowers to the Agents, showing amount of Qualified Cash as of Saturday of each week and the actual receipts and disbursements for each line item compared to the Approved Budget, as applicable, on a cumulative basis from the date hereof of until the fourth (4th) week after the date hereof and then on a rolling four (4) week basis at all times thereafter, noting therein all variances, on a line-item basis, from amounts set forth for such period in the Approved Budget, and shall include or be accompanied by explanations for all material variances and certified by an Authorized Officer of the Parent.

Examples of Budget Variance Report in a sentence

The Budget Variance Report shall include an explanation, in reasonable detail, of any material variance.
Budget staff then distributes the Budget Variance Report to each Division Chief and Department Manager.
Budget Variance Report showing the actual expenses versus the budget for the current period and year-to-date.
In $000s) * Based on the Second Quarter Operating Budget Variance Report.
The TTC report back to Budget Committee as part of the June 30, 2009 Capital Budget Variance Report on specific project reductions equal to the 2009 recommended 10% unspecified reduction of $47 million to accommodate anticipated under spending in 2009.

More Definitions of Budget Variance Report

Budget Variance Report means a report calculated in accordance with the most recent Thirteen Week Forecast, in each case certified by a Responsible Officer of the Borrower, in form and substance reasonably satisfactory to the Initial Lenders, to be delivered concurrently with each Thirteen Week Forecast showing cash usage and borrowing variance for the period since the delivery of the last Thirteen Week Forecast.

Budget Variance Report means a report, in form and detail reasonably acceptable to the Requisite Lenders, certified by a Responsible Officer, showing by line item: (a) Actual Collections, (b) Actual Disbursements and (c) Actual Capital Expenditures, in each case, for (i) the Prior Week, (ii) the immediately preceding Cumulative Four Week Period and (iii) the Cumulative Period. The Budget Variance Report shall include all variances, on a line-item basis, from amounts set forth for such Period in the Approved Budget, and shall include explanations for all material variances.

Budget Variance Report means a weekly variance report prepared by a Financial Officer of the Borrower Agent and in form and detail reasonably satisfactory to the Specified Ad Hoc Group Advisors (which may take direction from the Required Lenders), comparing for each applicable Budget Variance Test Period the actual results against anticipated results under the applicable Approved Budget, on an aggregate basis and in the same level of detail set forth in the Approved Budget(s), together with a written explanation for all variances of greater than the applicable permitted variance for any given Budget Variance Test Period and such other information as the Specified Ad Hoc Group Advisors may reasonably request (which may take direction from the Required Lenders).

Budget Variance Report means a variance report in form and detail reasonably satisfactory to the Required Lenders, reconciling the applicable Approved Budget to the actual sources and uses of cash for the Budget Test Period (a) showing, for such periods, actual results for the following items: (i) cash receipts, (ii) operating disbursements, (iii) payroll, (iv) inventory purchase, (v) capital expenditures, (vi) operating cash flow, (vii) non-operating disbursements and (viii) net cash flow, (b) noting a line-by-line reconciliation of variances from values set forth for such periods in the relevant Approved Budget and (c) providing an explanation for all material variances, certified by a Responsible Officer of the Borrower.

Budget Variance Report means a weekly variance report prepared by a Designated Financial Officer or the Independent Financial Advisor of the Company and in form and detail reasonably satisfactory to the Specified Ad Hoc Group Advisors (which may take direction from the Required Lenders), comparing for each applicable Budget Variance Test Period the actual results against anticipated results under the applicable Approved Budget, on an aggregate basis and in substantially the same level of detail set forth in the Approved Budget(s), together with a written explanation for all variances of greater than the applicable permitted variance for any given Budget Variance Test Period and such other information as the Specified Ad Hoc Group Advisors may reasonably request (which may take direction from the Required Lenders).

Budget Variance Report means a report certified by a Responsible Officer (as defined in