Specified Disbursements definition

Specified Disbursements has the meaning specified thereof in Section 6.01(s).

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Specified Disbursements means, for any Testing Period, Employee Payments, as such term is reported as a line item in the most recent Variance Report.

Specified Disbursements means, collectively, the fees and expenses of Estate Professionals and third-party professionals required to be paid by the US Borrower and (y) other fees, costs and charges (including interest expenses and administrative claims) payable in connection with the Loan Documents pursuant to a Financing Order or any “first day” or “second day” orders of the Bankruptcy Court.

Examples of Specified Disbursements in a sentence

Use the proceeds of the Term Loans in accordance with the Budget (subject to Permitted Budget Variances) or for Specified Disbursements.
Any Unused Specified Disbursements deemed to reduce the Specified Disbursements in any calendar month in accordance with the immediately preceding proviso shall reduce, dollar for dollar, the amount of Unused Specified Disbursements available for the reduction of Specified Disbursements in any future period.
On the First Amendment Effective Date, the Borrower shall be permitted to withdraw from the Borrower DIP Facilities Blocked Account an aggregate amount equal to $10,000,000, which amount shall be for use in accordance with the Budget then in effect (subject to Permitted Budget Variances) or for Specified Disbursements.
Commencing with the Test Date, for each Testing Period, the Borrower shall not permit the actual Specified Disbursements reflected in the Variance Report for such Variance Period to exceed 110% of the cumulative Specified Disbursements forecasted for such Variance Period in the Budget.

More Definitions of Specified Disbursements

Specified Disbursements means, collectively, (a) the fees and expenses of Professionals and third-party professionals required to be paid by any Loan Party pursuant to the Loan Documents or any Financing Order, and (b) other fees, costs, charges and other amounts (including interest expenses and administrative claims) payable in connection with the Loan Documents (including any Obligations) or pursuant to a Financing Order.

Specified Disbursements means, during any period, without duplication, the disbursements not exceeding the amounts, as applicable, as set forth in the applicable Cash Flow Forecast made during the period on account of the following categories of disbursements: (i) materials and manufacturing, (ii) Payroll, (iii) SG&A, (iv) R&D and (v) other specified disbursements (the “Other Disbursements”). The determination of the category as to which a disbursement relates shall be made in a manner consistent with the assumptions and determinations made in developing the Initial Approved Budget. Furthermore, for the avoidance of doubt, disbursements for Medicaid, distribution fees, managed care, and other customer allowances, which are included as allowances in the Initial Approved Budget, shall not be included as a “Specified Disbursement.” Further, payments made or to be made under the Gestene APA and repayments of borrowings of Loans shall not be included as Specified Disbursements.

Specified Disbursements means the disbursements set forth opposite the following line items in the Loan Parties’ Monthly Cash Disbursement Report: (i) cost of goods sold, (ii) sales & marketing and (iii) general & administrative.