Common use of Projections and Budgets Clause in Contracts

Projections and Budgets. No later than the sixty (60) days after the end of each Fiscal Year of Holdings, a budget in form reasonably satisfactory to the Administrative Agent (including budgeted statements of income, cash flow statement and balance sheets for Holdings and its Subsidiaries on a consolidated basis) for each Fiscal Quarter of the next Fiscal Year and for each of the next two succeeding Fiscal Years (on an annual basis) prepared in detail setting forth, in reasonable detail, the principal assumptions upon which such budget is based.