DIP Budget Variance Report definition

DIP Budget Variance Report means a report certified by a Responsible Officer, delivered in accordance with Section 4.1(b)(i) showing (a) the actual disbursements on a line item basis for each period since the Closing Date as of the end of the week immediately preceding the week during which such DIP Budget Variance Report is delivered and (b) the numerical difference between total disbursements for such period to total disbursements for such period as set forth in the DIP Budget then in effect on a rolling one-week and cumulative basis (any such difference, a “Variance”).
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DIP Budget Variance Report has the meaning set forth in Section 5.1(f).
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DIP Budget Variance Report means any DIP Budget variance report /reconciliation delivered by AIHL to the Investment Agent pursuant to Clause 13.4(a) (Budget).
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Examples of DIP Budget Variance Report in a sentence

  • No later than 5:00 p.m. (Dallas, Texas time) on the Friday one week after the last day of each rolling four-week period (or, if such Friday is not a Business Day, then the immediately succeeding Business Day), commencing with September 4, 2020, a DIP Budget Variance Report for the Variance Test Period most recently ended.

  • Each DIP Budget Variance Report shall be certified by an Authorized Officer of the Borrower as being prepared in good faith and fairly presenting in all respects the information set forth therein.

  • Pursuant to the terms of the DIP Loan Documents (including the DIP Term Sheet), the Borrower shall provide to the DIP Agent a budget variance report (the “ Budget Variance Report”) on the Friday of every other week during the DIP Budget Period, and the DIP Budget Variance Report shall set forth in reasonable detail actual receipts and disbursements of Borrower, together with a statement certifying compliance with the DIP Budget Covenant (as defined below) set forth below.


More Definitions of DIP Budget Variance Report

DIP Budget Variance Report setting forth any differences between the actual cash receipts and disbursements of the Borrowers and its Subsidiaries for such Testing Period, on a line-item basis, compared to the projected cash receipts and disbursements set forth for such period in the applicable DIP Budget, and including explanations for all material variances (such explanations shall include, the degree to which the variance is a permanent variance from the DIP Budget (if known), the cause of the variance, how the source of such variance will be addressed in subsequent forecasts (if appropriate) and whether such variance is expected to impact the DIP Budget), (ii) for informational purposes only, and not for purposes of approval or variance testing required by Section 5.16 hereof, an update of the DIP Budget to reflect the prior week’s actual cash receipts and disbursements of the Borrowers and Subsidiary Owners, and, as appropriate, an update to the remaining weeks under the then-current 13-week period. In addition, with respect to the Subsidiary Owners, the Borrowers shall use best efforts to obtain and deliver to Lender an aged report listing current accounts receivable and current accounts payable on each Variance Report Date, and in any event the Borrowers shall deliver to Lender (or cause to be delivered to Lender) such aged report listing current accounts receivable and current accounts payable no less often than once per calendar month.
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DIP Budget Variance Report means a variance report in form and detail satisfactory to the Administrative Agent, which variance report shall
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DIP Budget Variance Report means a variance report in form and detail satisfactory to the Administrative Agent, which variance report shall (a) show, for such Variance Test Period, actual results for the following items: (i) receipts, (ii) operating disbursements and general and administrative expenses, (iii) payroll and benefit expenses, (iv) professional fees and expenses, (v) capital expenditures, (vi) debt service, (vii) adequate protection payments, and (viii) net cash flow, (b) reconcile variances from values set forth for such periods in the relevant DIP Budget on a line-by-line basis in respect of expenses and disbursements only, and (c) include reasonably detailed calculations demonstrating compliance with Section 10.11(c).
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DIP Budget Variance Report means a report certified by a Responsible Officer, delivered in accordance with Section 4.1(h)(i) showing (a) a weekly and rolling four-week reconciliation of budgeted and actual amounts and (b) a written narrative explanation if (i) the actual disbursements on any line item in the DIP Budget exceed the budgeted disbursements for either such period in such line item by more than ten percent (10%), (ii) aggregate actual disbursements under the DIP Budget for any week or four-week period exceed the aggregate budgeted disbursements for either such period by more than five percent (5%) or (iii) aggregate cash receipts during any week or four-week period are less than ninety percent (90%) of aggregate projected cash receipts set forth in the DIP Budget for either such period (any such difference, a “Variance”).
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Related to DIP Budget Variance Report

  • DIP Budget means a projected statement of sources and uses of cash for the Borrower and the Guarantors on a weekly basis for the following 13 calendar weeks. As used herein, “DIP Budget” shall initially refer to the initial 13-week projection delivered in accordance with Section 6.2 and thereafter shall refer to the most recent 13-week projection delivered by the Borrower in accordance with Section 9.1(c).

  • Compliance Report means, as applicable in relation to the test being conducted, a report containing the results of the Compliance Tests carried out by State Street.

  • CREFC® Operating Statement Analysis Report The monthly report in the “Operating Statement Analysis Report” format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

  • CREFC® Loan Modification Report Template A report substantially in the form of, and containing the information called for in, the downloadable form of the “Loan Modification Report Template” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

  • Budget means a resource, expressed in financial terms, proposed by the Board for the purpose of carrying out, for a specific period, any or all of the functions of the Trust.

  • Business Plan means the information required to be supplied to the

  • CREFC® Advance Recovery Report A monthly report substantially in the form of, and containing the information called for in, the downloadable form of the “Advance Recovery Report” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.

  • CREFC® Loan Level Reserve/LOC Report The monthly report in the “CREFC® Loan Level Reserve/LOC Report” format substantially in the form of and containing the information called for therein for the Mortgage Loans, or such other form for the presentation of such information as may be approved from time to time by the CREFC® for commercial mortgage securities transactions generally.

  • Performance Report has the meaning set out in clause 8.2;

  • CREFC® Loan Liquidation Report Template A report substantially in the form of, and containing the information called for in, the downloadable form of the “Loan Liquidation Report Template” available as of the Closing Date on the CREFC® Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CREFC® for commercial mortgage securities transactions generally.