Variance Report. On October 14, 2009, and on each Wednesday thereafter, furnish to the Administrative Agent for prompt further distribution to each Lender a variance report (the “Variance Report”) setting forth actual cash receipts and disbursements of the Borrower and its Subsidiaries for the prior week ending on the previous Friday and setting forth all the variances, on a line-item basis, from the amount set forth for such week in (i) the most recent DIP Forecast and (ii) the most recent DIP Budget delivered by the Borrower; each such report shall include explanations for all material variances and shall be certified by the chief financial officer of the Borrower.
Variance Report. On a weekly basis commencing with the last Business Day of each calendar week ending the week following the Closing Date, a variance report (a “Variance Report”) certified by the chief financial officer of Borrower, in form reasonably acceptable to the Administrative Agent and the Required Lenders, setting forth (i) the actual Aggregate Cumulative Net Cash Flow for such immediately preceding calendar week on a line-item basis, (ii) the variance in dollar amounts of the Aggregate Cumulative Net Cash Flow for each 4-week period (or, to the extent less than 4-weeks have elapsed since the Closing Date, such shorter period of time) from those reflected for the corresponding period in the then applicable Approved Budget and (iii) the variance in dollar amounts of the actual expenditures and disbursements in respect of professional fees for each 4-week period (or, to the extent less than 4-weeks have elapsed since the Closing Date, such shorter period of time) from those reflected for the corresponding period in the then applicable Approved Budget.
Variance Report. Not later than 12:00 p.m. Central Time on Thursday (or, if such Thursday is not a Business Day, not later than 12:00 p.m. Central Time on the immediately succeeding Business Day) (or such later date as may be agreed to by the Administrative Agent in its sole discretion) of each week commencing with the Thursday after the first full four calendar weeks following the Petition Date and on a weekly basis thereafter (each, a “Report Date”), a certificate which shall include a weekly variance report certified by a Responsible Officer, which variance report shall measure performance for all actual disbursements made (A) with respect to the first Report Date, during the period from and including the Petition Date through and including the Friday ending immediately prior to the first Report Date and (B) with respect to each Report Date thereafter, the prior four weeks ending on the Friday immediately preceding such Report Date (the periods described in the foregoing clauses (A) or (B), as applicable, the “Test Period”) on a rolling basis against the amount budgeted therefor in the DIP Budget, shall include calculations showing any discrepancies between anticipated and actual receipts, shall include calculations that demonstrate whether the Credit Parties are in compliance with Section 9.01(a) (for the avoidance of doubt, compliance with Section 9.01(a) shall be tested daily, but reported in the variance report) and Section 9.01(b), shall provide for disbursements and receipts items to be broken out as line items, but for the avoidance of doubt (other than those disbursements tested pursuant to Section 9.01(b)) shall not be tested.
Variance Report. Furnish Agent, weekly (no later than Friday of each week (or, if Friday is not a Business Day, on the next succeeding Business Day)), (a) commencing with the first full week after the first Cash Flow Forecast required pursuant to Section 9.20 hereof has been received, a variance report comparing the actual cash receipts and cash disbursements for the prior week to the forecasted results for such week as set forth in the most recently received Cash Flow Forecast and (b) a variance report comparing the quarterly revenue forecast from the most recently received Weekly Information Report to the quarterly revenue forecast from the immediately preceding Weekly Information Report.”
Variance Report. The Debtors shall prepare a variance report (the “Variance Report”), and deliver such Variance Report to the Consenting Term Lender Advisors setting forth for the period commencing each Friday and ending on the following Thursday of any completed week thereafter (the “Testing Period”) ending on the Testing Date: • a line item comparison covering the Testing Period just ended setting forth the actual operating cash receipts and the actual disbursements against the amount of the Debtors’ projected operating cash receipts and projected disbursements, respectively, as set forth in the (i) Initial DIP Budget or (ii) Approved DIP Budget; and • as to each variance contained the Variance Report, an indication as to whether such variance is temporary or permanent and an explanation in reasonable detail for any variance. Permitted Variances Following the first two full weeks after the Petition Date, during which period compliance with the budget shall not be tested, covenant compliance will be tested weekly. Actual operating disbursements and actual operating cash receipts shall be tested against the Initial DIP Budget (or, if one or more Approved DIP Budgets have been subsequently approved, such Approved DIP Budget, solely with respect to the period covered by such subsequent Approved DIP Budget, it being understood that to the extent the Initial DIP Budget and/or any subsequent Approved DIP Budgets cover overlapping periods of time, the most recent Approved DIP Budget shall govern) during each Testing Period. The Debtors shall comply with the Approved DIP Budget, subject to the following permitted variances (as amended from time to time, the “Permitted Variances”): With respect to the first Variance Report: • aggregate operating cash receipts shall not be less than 80% of the projected operating cash receipts set forth in the Approved DIP Budget; and • aggregate actual operating disbursements shall not exceed 120% of the projected disbursements set forth in the Approved DIP Budget; provided that, for the avoidance of doubt, the actual operating disbursements considered for determining compliance shall exclude the Debtors’ disbursements in respect of professional fees (including all Consenting Stakeholders’ Fees and Expenses). With respect to the second Variance Report: • aggregate operating cash receipts shall not be less than 80% of the projected operating cash receipts set forth in the Approved DIP Budget; and • aggregate actual operating disbursements shall not...
Variance Report. (if applicable, describe how the work differs from the proposed research) • Include changes to objectives and project work plan / budget, changes to the team, other constraints. • The variance factors did not impact the objectives of the work plan. • This variance factors affected the budget primarily as:
Variance Report. The Debtors hereby agree to continue their weekly meetings with the Lender to discuss, among other things, the Debtors’ performance in comparison to the Budget. The Debtors shall provide weekly (in time for discussion at such weekly meetings, but in no event later than Thursday of each week), a cash flow report (the “Variance Report”), which Variance Report shall show actual cash flow results and variances from the Budget commencing with the week ending April 3, 2009 and through the end of the week immediately preceding the week in which the Variance Report is to be furnished. No later than the scheduled weekly meeting time, but in any event by Thursday of each week, the Debtors shall also provide a weekly report of information (including, without limitation, the Bridge Amount for the applicable week) with respect to the current week and projections for the immediately following week. The Variance Report and the other weekly report shall contain such detail as is reasonably requested by the Lender and shall be in form and substance satisfactory to the Lender in its sole and absolute discretion.
Variance Report. No later than August 14 of each fiscal year of the Borrower, beginning with its 1999 fiscal year, a report, certified as true and correct by the chief or principal financial or accounting officer of the Borrower, that shows in reasonable detail, variances, if any, between the actual operating performance of the Borrower and its Subsidiaries and what was estimated for the first six months of such fiscal year in the Approved Annual Operating Business Plan for such fiscal year (or the Approved Full Term Operating Business Plan if the Required Lenders have not approved a plan delivered pursuant to Section 6.13(a) with respect to such fiscal year) and explains in reasonable detail in form satisfactory to the Required Lenders the reasons for the discrepancies between them, if any.
Variance Report. The Borrower will furnish to the Administrative Agent and to the Commitment Parties and the Lenders who have signed a non-disclosure agreement:
Variance Report. Borrower Representative will deliver to the Agent, no less frequently than weekly and no later than the second (2nd) Business Day after the end of each calendar week, a report setting forth, on a weekly and cumulative basis, the positive or negative variance, if any, of the Borrowers’ (i) projected weekly operating receipts for each week commencing with the week ending as of October 16, 2005, (ii) projected weekly gross sales for each week commencing with the week ending October 16, 2005 and (iii) projected aggregate principal amount of outstanding Loans and Letters of Credit for each week commencing with the week ending as of October 16, 2005, as set forth in the twenty-one (21) week DIP cash flow budget projections provided to Agent on or prior to the Closing Date.
