Rolling Budget definition

Rolling Budget means a projected statement of sources and uses of cash for the Borrower and its Subsidiaries on a weekly basis, covering the 13 calendar weeks immediately succeeding the week during which such Rolling Budget is required to be delivered hereunder, including the anticipated use of the cash proceeds of Loans made hereunder and of Cash Collateral for each week during such period and setting forth, among other things, on a cumulative roll-forward basis the projected cash disbursements and projected cash receipts for each applicable week, in form substantially similar to the initial Rolling Budget attached hereto as Exhibit G (unless otherwise reasonably agreed by the Required Lenders) and in substance reasonably satisfactory to the Required Lenders (which Rolling Budget shall be deemed reasonably satisfactory if the Required Lenders do not provide notice of dispute to such Rolling Budget within three Business Days after delivery thereof).

Rolling Budget means a projected statement of sources and uses of cash for the Loan Parties and their Subsidiaries on a weekly basis, for the following 13 calendar weeks, including any anticipated use of the proceeds of Additional Term Loans held in the Master Account for each week during such period and setting forth on a cumulative roll-forward basis, the projected cash disbursements and projected cash receipts for each applicable week, in form and substance reasonably satisfactory to the Lenders.

Rolling Budget means a projected statement of sources and uses of cash for the Loan Parties and their Subsidiaries on a weekly basis, for the following 13 calendar weeks, including any anticipated use of the proceeds of Additional Term Loans and/or December 2016 Additional Term Loans held in the Master Account for each week during such period and setting forth on a cumulative roll-forward basis, the projected cash disbursements and projected cash receipts for each applicable week, in form and substance reasonably satisfactory to the Lenders.

Examples of Rolling Budget in a sentence

• Upon satisfaction of the Release Conditions, Borrower may withdraw funds as set forth in the appropriate Notice of Release Request; provided that, upon release from the Master Account, such released funds may not be used for any purpose other than as set forth in the most recent Rolling Budget delivered to the Lenders pursuant to Section 5.1.

• Except for any transactions consummated pursuant to the Option Agreement, divestitures or exclusive licenses involving property or fixed assets of the Company or a Local Operating Entity, in a transaction or series of related transactions, to the extent not contemplated by the Initial Business Plan or the applicable Rolling Business Plan, as applicable, or in excess of the amounts approved in the Initial Budget or applicable Rolling Budget, as applicable.

• The Rolling Budget and any modification to, or amendment or update of, the Rolling Budget shall be subject to the approval of, and in form and substance reasonably acceptable to, the Secured Parties, in each of their sole discretion.

• A Rolling Budget means that virements shall be enacted as and when changes in circumstances or assumptions underlying the budget occur, and ensures that actual transactions are reported and monitored against an up to date budget.7.4 A virement does not create additional budget availability.

• In order to continue to operate its business, subject to the terms and conditions of this Interim Order and the other DIP Intercompany Finance Documents, the Debtor is hereby authorized to borrow under the DIP Intercompany Facility during the Interim Period up to an aggregate principal amount of $20,000,000 only for the purposes set forth in the DIP Intercompany Finance Documents and the applicable Rolling Budget (subject to the Permitted Variance).

More Definitions of Rolling Budget

Rolling Budget means a projected balance sheet, income statement and cash flow statement for the Loan Parties and their Subsidiaries on a monthly basis, for the following 12 calendar months, including any anticipated use of the proceeds of Term Loans held in the Master Account for each month during such period, in form and substance reasonably satisfactory to the Lenders.

Rolling Budget means a projected statement of sources and uses of cash for the Loan Parties and their Subsidiaries on a weekly basis, for the following 13 calendar weeks, including any anticipated use of the proceeds of Additional Term Loans, December 2016 Additional Term Loans, April 3, 2017 Additional Term Loans, April 6, 2017 Additional Term Loans, April 10, 2017 Additional Term Loans, and/or April 18, 2017 Additional Term Loans held in the Master Account for each week during such period and setting forth on a cumulative roll-forward basis, the projected cash disbursements and projected cash receipts for each applicable week, in form and substance reasonably satisfactory to the Lenders.

Rolling Budget means the Initial Budget and, as delivered thereafter in accordance with section (d) of Annex C, the 13-week budget for the 13-week period commencing after the date such budget is delivered. Notwithstanding anything to the contrary contained herein, each Secured Party’s approval of the Rolling Budget is given solely in its capacity as a Secured Party hereunder, and such approval does not constitute approval of the Rolling Budget for any other purpose, including without limitation, any other contractual arrangement between the Secured Parties and the Borrower.

Rolling Budget has the meaning specified in the DIP Intercompany Credit Agreement.

Rolling Budget means a projected statement of sources and uses of cash for the Loan Parties and their Subsidiaries on a weekly basis, for the following 13 calendar weeks, including any anticipated use of the proceeds of Additional Term Loans, December 2016 Additional Term Loans, April 3, 2017 Additional Term Loans, April 6, 2017 Additional Term Loans, April 10, 2017 Additional Term Loans, April 18, 2017 Additional Term Loans and/or April 24, 2017 Additional Term Loans held in the Master Account for each week during such period and setting forth on a cumulative roll-forward basis, the projected cash disbursements and projected cash receipts for each applicable week, in form and substance reasonably satisfactory to the Lenders.

Rolling Budget means a projected statement of sources and uses of cash for the Loan Parties and their Subsidiaries on a weekly basis, for the following 13 calendar weeks, including any anticipated use of the proceeds of Additional Term Loans, December 2016 Additional Term Loans, April 3, 2017 Additional Term Loans, April 6, 2017 Additional Term Loans, and/or April 10, 2017 Additional Term Loans held in the Master Account for each week during such period and setting forth on a cumulative roll-forward basis, the projected cash disbursements and projected cash receipts for each applicable week, in form and substance reasonably satisfactory to the Lenders.

Rolling Budget means a projected statement of sources and uses of cash for the Loan Parties and their Subsidiaries on a weekly basis, for the following 13 calendar weeks, including any anticipated use of the proceeds of Additional Term Loans, December 2016 Additional Term Loans, April 3, 2017 Additional Term Loans, and/or April 6, 2017 Additional Term Loans held in the Master Account for each week during such period and setting forth on a cumulative roll-forward basis, the projected cash disbursements and projected cash receipts for each applicable week, in form and substance reasonably satisfactory to the Lenders.