Common use of Projections and Budgets Clause in Contracts

Projections and Budgets. As soon as practicable, and in any event within 45 days after the commencement of each Fiscal Year, financial projections for the Parent and its Subsidiaries for such Fiscal Year (including an operating budget and a cash flow budget) prepared in a manner consistent with those projections delivered by the Parent to the Lenders prior to the Initial Closing Date or otherwise in a manner reasonably satisfactory to the Agents, accompanied by a certificate of a Responsible Officer of the Parent on behalf of the Borrowers to the effect that (i) such projections were prepared by the Borrowers in good faith, (ii) the Parent has a reasonable basis for the assumptions contained in such projections and (iii) such projections have been prepared in accordance with such assumptions.

Projections and Budgets. As soon as practicable, and in any event within 45 days after the commencement of each Fiscal Year, financial projections for the Parent and its Subsidiaries for such Fiscal Year (including an operating budget and a cash flow budget) prepared in a manner consistent with those projections delivered by the Parent to the Lenders prior to the Initial Closing Date or otherwise in a manner reasonably satisfactory to the Agents, accompanied by a certificate of a Responsible Officer of the Parent on behalf of the Borrowers to the effect that (i) such projections were prepared by the Borrowers in good faith, (ii) the Parent has a reasonable basis for the assumptions contained in such projections and (iii) such projections have been prepared in accordance with such assumptions.