Variance Testing Period definition

Variance Testing Period means, as applicable, each of the First Testing Period, Second Testing Period, Third Testing Period and, thereafter, each Rolling Four Week Testing Period ending on the Friday of each calendar week ending thereafter.

Variance Testing Period means the four-week calendar period up to and through the Saturday of the week most recently ended prior to the applicable Variance Report Date (provided that, the first Variance Testing Period shall include the entire period from the Petition Date through the Saturday of the week most recently ended prior to the applicable Variance Testing Period).

Variance Testing Period means the rolling four-week calendar period up to and through the Friday of the week most recently ended prior to the applicable Variance Report Date (provided that, the first Variance Testing Period shall include the entire period from the first Saturday after the Effective Date through the Friday of the week most recently ended prior to the applicable Variance Report Date).

Examples of Variance Testing Period in a sentence

• During any Variance Testing Period, permit Actual Disbursement Amounts for any Cumulative Four-Week Period to exceed the Budgeted Disbursement Amounts for such Cumulative Four-Week Period by an amount greater than ten percent (10.0%) of such Budgeted Disbursement Amounts for such Cumulative Four-Week Period.

• The Variance Report shall also provide a reasonably detailed explanation for any variance in such Variance Report in excess of 5.0% in actual receipts or operating disbursements for each such line item during the Variance Testing Period as compared to projections for such line items during the Variance Testing Period as set forth in the Approved DIP Budget for such period.

• Starting on Friday, June 2, 2023, on or before 12:00 p.m., New York City time on each Friday, the Borrower shall deliver to the Administrative Agent (or its advisors or other designated representatives) a Variance Report for the Variance Testing Period ended on the previous Saturday.

• In addition, for each Variance Testing Period, the Borrower shall not permit the Actual Disbursements to exceed the Budgeted Disbursements for such Variance Testing Period by more than the Permitted Variance.

• The Variance Report shall also provide a reasonably detailed explanation for any variance in such Variance Report in excess of 10.0% in actual receipts or operating disbursements for each such line item during the Variance Testing Period as compared to projections for such line items during the Variance Testing Period as set forth in the Approved DIP Budget (as in effect at the beginning of such Variance Testing Period).

More Definitions of Variance Testing Period

Variance Testing Period means (i) initially, the period commencing Sunday, May 21, 2023 and ending Saturday, May 27, 2023, (ii) then, the period commencing Sunday, May 21, 2023 and ending Saturday, June 3, 2023, (iii) then, the period commencing Sunday, May 21, 2023 and ending Saturday, June 10, 2023 and (iv) thereafter, each rolling four-week period initially commencing Sunday, May 21, 2023 and ending on the fourth Saturday thereafter.

Variance Testing Period means, as of any Variance Report Date, the four-week calendar period most recently ended.

Variance Testing Period shall have the meaning assigned to such term in Section 8.01(t)(iii).

Variance Testing Period means, as applicable, with respect to each testing date thereafter, the cumulative period of two weeks ending on April 30, 2021 and every two week period ending on the last date of each calendar week thereafter.

Variance Testing Period means the one week period ending on the Sunday immediately preceding the applicable Variance Reporting Date.

Variance Testing Period means the rolling four-week calendar period up to and through the Saturday of the week most recently ended prior to the applicable Variance Report Date (provided that, the first Variance Testing Period shall include the entire period from April 30, 2023 through the Saturday of the week most recently ended prior to the applicable Variance Testing Period (i.e., from April 30, 2023 through May 27, 2023)).

Variance Testing Period means the rolling four-week calendar period up to and through the Friday of the week most recently ended prior to the applicable Variance Report Date (provided that, the first Variance Testing Period shall include the entire period from the Petition Date through October 20, 2023, the second Variance Testing Period shall include the entire period from the Petition Date through October 27, 2023 and the third Variance Testing Period shall include the entire period from the Petition Date through November 3, 2023).