Draft Projections Clause Samples

The Draft Projections clause outlines the process and expectations for providing preliminary estimates or forecasts related to a project or agreement. Typically, this clause specifies the format, timing, and scope of the projections, such as anticipated costs, timelines, or deliverables, and may clarify that these figures are non-binding and subject to revision. Its core practical function is to facilitate informed planning and decision-making by giving all parties an initial understanding of potential outcomes, while also managing expectations and reducing disputes over preliminary figures.
Draft Projections. 7.5.1 The Company shall (in consultation with the Technical Bank and the Agent): (A) in the case of any Projection other than a Disposal Projection, prepare a draft Projection using: (1) all the Assumptions that have been agreed between the Company and the Agent or Technical Bank pursuant to Clauses 7.4.2 and 7.4.3 (Preparatory steps); and (2) to the extent that the Company and the Agent or Technical Bank, as appropriate, have not been able to reach agreement on any such Assumptions, such Assumptions as determined in accordance with Clauses 7.4.2 or 7.4.3 (Preparatory steps); and (B) in the case of any Disposal Projection, prepare a draft Disposal Projection: (1) on the basis that the relevant Borrowing Base Asset(s) have ceased to be so designated; and (2) otherwise using all of the Assumptions that were used for the purposes of the then current Projection which the relevant Disposal Projection is intended to supersede. 7.5.2 If the Company has made a request under Clause 7.10 (Asset base) then, at the Technical Bank’s option: (A) the draft Projection shall be prepared on the basis that the relevant Petroleum Asset(s) have been designated as Borrowing Base Asset(s) and/or as the case may be, the relevant Borrowing Base Asset(s) have ceased to be so designated; or (B) the Company (in consultation with the Technical Bank) shall prepare: (1) a draft Projection on the basis that the relevant Petroleum Asset(s) have been designated as Borrowing Base Asset(s) and/or, as the case may be, the relevant Borrowing Base Asset(s) have ceased to be so designated; and (2) a further draft Projection on the basis that no new Petroleum Asset(s) will be designated as Borrowing Base Asset(s) and no current Borrowing Base Asset(s) will cease to be so designated. 7.5.3 If the Company has made a request under Clause 7.1.1(B)(2)(a) (Adoption), the draft Projection shall be prepared on the basis that the relevant Petroleum Asset(s) have been designated as Borrowing Base Asset(s). 7.5.4 The Company and the Agent will endeavour to ensure that each draft Projection is delivered to each Lender no later than 14 days prior to the Recalculation Date on which such Projection is due to be adopted. 7.5.5 Each draft Projection must be accompanied by details of the conditions (“CPs”) (if any) that the Technical Bank and Agent consider necessary to be satisfied in order for (if the Company has made a request under Clause 7.10.1 (Asset base) or the draft Projection is being prepared pursuant t...
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Draft Projections. The Technical Bank shall prepare a draft Projection using:
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Related to Draft Projections

  • Annual Projections As soon as practicable and in any event prior to the beginning of each Fiscal Year, Borrowers shall deliver to Lender projected balance sheets, statements of income and cash flow for Borrowers on a consolidated and consolidating basis, for each of the twelve (12) months during such Fiscal Year, which shall include the assumptions used therein, together with appropriate supporting details as reasonably requested by Lender.

  • Projections As of the Closing Date, to the best knowledge of Borrower, the assumptions set forth in the Projections are reasonable and consistent with each other and with all facts known to Borrower, and the Projections are reasonably based on such assumptions. Nothing in this Section 4.17 shall be construed as a representation or covenant that the Projections in fact will be achieved.

  • Financial Projections Borrower shall have delivered to Lender Borrower’s business plan and/or financial projections or forecasts as most recently approved by Borrower’s Board of Directors.

  • Financial Statements; Projections (a) There has been furnished to the Administrative Agent (for distribution to each of the Lenders) a consolidated balance sheet of the Parent and its Subsidiaries as of December 31, 2023 in draft form, which is in form and substance satisfactory to the Administrative Agent, and a consolidated statements of income or operations, cash flows and shareholders’ equity of the Parent and its Subsidiaries for the Fiscal Year then ended, which financial statements (i) have been prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein, (ii) fairly present the financial condition of the Parent and its Subsidiaries as of the date thereof and the results of operations for the Fiscal Year then ended and their results of operations, cash flows and changes in shareholders’ equity for the period covered thereby in accordance with GAAP consistently applied throughout the period covered thereby, except as expressly noted therein, and (iii) show all material Indebtedness and other liabilities, direct or contingent, of the Parent and its Subsidiaries as of the date thereof, including liabilities for all federal and other material Taxes, material commitments and Indebtedness. (b) There has been furnished to the Administrative Agent (for distribution to each of the Lenders) an unaudited consolidated balance sheet of the Parent and its Subsidiaries as of the close of the Fiscal Month ending January 31, 2024, and unaudited consolidated statements of income or operations and cash flow of the Parent and its Subsidiaries as of the close of such Fiscal Month, in each case, certified by a Financial Officer of the Parent. Such balance sheet and statement of income or operations and cash flows have been prepared in accordance with GAAP consistently applied throughout the period covered thereby, except as otherwise expressly noted therein, and fairly present the financial condition of the Parent and its Subsidiaries as of the date thereof and the results of operations, cash flows and changes in shareholders’ equity for the period covered thereby, subject to the absence of foot notes and to normal year-end audit adjustments. There are no contingent liabilities of the Parent or any Subsidiary as of such date involving material amounts, known to the officers of the Parent or any Subsidiary, required to be disclosed in such balance sheet and the notes related thereto in accordance with GAAP which were not disclosed in such balance sheet and the notes related thereto. (c) There has been furnished to the Administrative Agent (for distribution to each of the Lenders) integrated multi-year projections of (x) Excess Availability and (y) the consolidated balance sheets and statements of income or operations and cash flows of the Parent and its Subsidiaries for each Fiscal Month following the Closing Date through and including the Fiscal Year ending December 31, 2024 and for each Fiscal Quarter thereafter. Such projections have been prepared on a pro forma basis after giving effect to the transactions contemplated hereby. Such projections were prepared in good faith and based on assumptions that are believed in good faith to be reasonable in light of the facts and circumstances known on and as of the Closing Date (it being understood and agreed that such projections are as to future events and are not to be viewed as facts, subject to significant uncertainties and contingencies, many of which are beyond control, no assurance can be given that the projections will be realized, and actual results may materially differ from the projections).

  • Financial Statements and Projections Except for the Projections, all Financial Statements concerning Borrowers and their respective Subsidiaries that are referred to below have been prepared in accordance with GAAP consistently applied throughout the periods covered (except as disclosed therein and except, with respect to unaudited Financial Statements, for the absence of footnotes and normal year-end audit adjustments) and present fairly in all material respects the financial position of the Persons covered thereby as at the dates thereof and the results of their operations and cash flows for the periods then ended.