Interim Budget definition

Interim Budget has the meaning set forth in Section 5.9.

Interim Budget means the interim budget of the Company agreed upon between the Collateral Agent and the Company that was in effect prior to the implementation of the Turnaround Plan.

Interim Budget shall have the meaning assigned to such term in Section 8.21.

Examples of Interim Budget in a sentence

• The turnaround plan and budget as approved by the board of directors of the Company and by the Gotham Purchasers shall replace the Interim Budget and is referred to herein as the “Turnaround Plan”.

• Neither the Interim Budget nor the Turnaround Plan may be amended, supplemented or otherwise modified without the Gotham Purchasers’ prior written consent, not to be unreasonably withheld (and if such consent is given, the term “Turnaround Plan” shall refer to such modified plan).

• Finance Minister Piyush Goyal said while presenting the Interim Budget on Friday.

• The Gotham Purchasers may commit but shall not be required to fund any amount if the Interim Budget or Turnaround Plan, as applicable, does not indicate a need for such capital, which assessment shall for the avoidance of doubt account for the ability of the Credit Parties to comply with their obligations under the Operative Documents, the Xxxxxx Loan Documents and any other obligations to which they are subject and not restricted from being incurred pursuant to the Operative Documents.

• This Information Statement relates to the marketing of all of the proposed Residential Units provided that the proposed Unit Entitlement, Interim Budget and Maintenance Fee schedules relate to the first phase only.

More Definitions of Interim Budget

Interim Budget is defined in Section 5.13(a).

Interim Budget shall have the meaning set forth in Section 6.3;

Interim Budget shall be the most recently approved Annual Operating Budget and/or Annual Capital Budget, as applicable, adjusted as follows: (a) property management fees required to be paid under the Property Management Agreement for such Fiscal Year shall be included in the Interim Budget in the amount set forth in the Property Management Agreement, (b) the actual costs of any increase in real estate taxes, and related impositions for items such as business improvement district taxes, insurance premiums, utility rates, debt service, union labor rates, fuel oil rates, expenditures required by any contractual obligations of the Company or a Subsidiary entered into in accordance with the terms of this Agreement and capital expenditures expressly required by any of the Loan Documents for each calendar year since such Annual Operating Budget and/or Annual Capital Budget, as applicable, was approved shall be included in the Interim Budget in amount to be incurred during such Fiscal Year, (c) all other amounts shall be increased by the CPI Increase (computed from January 1st of the last Fiscal Year for which the Annual Capital Budget and/or the Annual Operating Budget, as applicable, was approved to December 31st of the Fiscal Year immediately preceding the Fiscal Year to which the Annual Capital Budget and/or the Annual Operating Budget, as applicable, in dispute relates) and (d) there shall be no carryover for capital expenditures completed during the prior budgeted period (it being understood, however, that the unexpended portion of any capital expenditures previously approved in any prior Approved Capital Budget for the last Fiscal Year which have not been completed shall continue to be approved and shall be treated as specific line items of the Interim Budget) (collectively, the “Actual Increases”). The Company and the Managing Member on behalf of the Company shall be authorized to spend funds in accordance with the Annual Capital Budget and the Annual Operating Budget (or, if applicable, the Interim Budget) then in effect in accordance with this Agreement, subject to the Permitted Variance. Any changes to the Annual Capital Budget or the Annual Operating Budget requested by a Lender shall be subject to the same approval process set forth in this Section 4.2; however, changes which are mandated by a Lender shall be deemed to have been approved by the Members, unless the Members shall unanimously agree to the contrary. If at any time during a calendar year the Managing Mem...

Interim Budget is defined in Section 4.2.

Interim Budget means the cash flow projections of the Borrower and its Subsidiaries, showing anticipated cash receipts and disbursements on a weekly basis for the period from the Filing Date through June 30, 2003, reported on separately for each of (i) the Borrower and the Guarantors, (ii) the Foreign Subsidiaries (other than the German Entities) and (iii) the German Entities, substantially in the form of Exhibit E hereto, or otherwise in form and substance satisfactory to the Agent.

Interim Budget the interim budget prepared by the Borrower detailing the Borrower's anticipated revenues, operating expenses and cash flow from the Closing Date to the Effective Date, in the form attached hereto as Exhibit J.

Interim Budget means the budget annexed to this Agreement at Schedule 1;