FORM OF PROJECT BUDGET. The Borrower shall ensure that each budget delivered by it pursuant to Clause 16.1 shall be in the agreed form and prepared on a basis consistent with the initial Project Budget and using (i) accounting policies, practices, procedures and reference period consistent with such initial Project Forecast and each set of financial statements delivered pursuant to Clause 15 (Financial Information) and (ii) the Assumptions most recently agreed or determined pursuant to Clause 19.3 (Value of Assumptions) of the Intercreditor Agreement.
Appears in 2 contracts
Sources: Facility Agreement (Macquarie Infrastructure CO Trust), Facility Agreement (Macquarie Infrastructure Assets Trust)
FORM OF PROJECT BUDGET. The Borrower shall ensure that each budget delivered by it pursuant to Clause 16.1 clause 12.1 shall be in the agreed form and prepared on a basis consistent with the initial Project Budget and using (i) accounting policies, practices, procedures and reference period consistent with such initial Project Forecast and each set of financial statements delivered pursuant to Clause 15 clause 11 (Financial Information) and (ii) the Assumptions most recently agreed or determined pursuant to Clause clause 19.3 (Value of Assumptions) of the Intercreditor Agreement.
Appears in 2 contracts
Sources: Commercial Subordinated Loan Agreement (Macquarie Infrastructure CO Trust), Commercial Subordinated Loan Agreement (Macquarie Infrastructure Assets Trust)