Budget Variance Report definition
Budget Variance Report means a report, in each case certified by a Responsible Officer of the Borrower, in form reasonably satisfactory to the Initial Lenders, delivered in accordance with Section 5.03(e), showing actual cash flows and the aggregate maximum amount of utilization of the Commitments for each such week as of the end of the week immediately preceding the week during which such Budget Variance Report is delivered and the variance (as a percentage) of such amounts from the corresponding anticipated amounts therefor set forth in the DIP Budget.
Budget Variance Report means a weekly variance report prepared by a Responsible Officer of the Borrower or the Parent, comparing for each applicable Test Period the actual results against anticipated results under the applicable Approved Budget(s), on an aggregate basis and in the same level of detail set forth in the Approved Budget(s), together with a written explanation for all disbursement variances of greater than the Permitted Variance for any given testing period and such other information as the Administrative Agent or the Required Lenders may reasonably request.
Budget Variance Report means a weekly variance report prepared by a Responsible Officer of the Borrower, comparing for each applicable Variance Test Period the actual disbursements (excluding Other Disbursements) against anticipated disbursements (excluding Other Disbursements) under the then current Approved Budget, on a line item basis and in the same level of detail as set forth in the then current Approved Budget or in a form otherwise reasonably acceptable to the Financial Advisor and including an explanation, in reasonable detail, for any material line-item variance, certified by a Responsible Officer of the Borrower.
Examples of Budget Variance Report in a sentence
No later than the last Business Day of each calendar week (commencing with the calendar week starting immediately after the Effective Date), a Budget Variance Report as of the end of the immediately preceding calendar week.
The reports to be submitted shall consist of the MANAGER'S Commercial Income Report and Commercial Budget Variance Report, (samples of which are attached as "Exhibit B") and such other monthly, quarterly and annual reports as are customary in commercial property management relationships and as reasonably requested by OWNER in writing from time to time.
Each Budget Variance Report delivered in accordance with this Agreement shall be true, complete and correct in all material respects for the period covered thereby and in the detail to be covered thereby as of the date such Budget Variance Report is delivered.
Budget Variance Report showing the actual expenses versus the budget for the current period and year-to-date.
Notwithstanding the foregoing, the first Compliance Certificate and Approved Budget Variance Report shall cover the weeks ending June 7, 2014 and June 14, 2014 and shall be furnished on June 20, 2014.
More Definitions of Budget Variance Report
Budget Variance Report means a weekly report provided by the Borrowers to the Agents, showing amount of Qualified Cash as of Saturday of each week and the actual receipts and disbursements for each line item compared to the Approved Budget, as applicable, on a cumulative basis from the date hereof of until the fourth (4th) week after the date hereof and then on a rolling four (4) week basis at all times thereafter, noting therein all variances, on a line-item basis, from amounts set forth for such period in the Approved Budget, and shall include or be accompanied by explanations for all material variances and certified by an Authorized Officer of the Parent.
Budget Variance Report means a report, in form and detail reasonably acceptable to the Requisite Lenders, certified by a Responsible Officer, showing by line item: (a) Actual Collections, (b) Actual Disbursements and (c) Actual Capital Expenditures, in each case, for (i) the Prior Week, (ii) the immediately preceding Cumulative Four Week Period and (iii) the Cumulative Period. The Budget Variance Report shall include all variances, on a line-item basis, from amounts set forth for such Period in the Approved Budget, and shall include explanations for all material variances.
Budget Variance Report means a weekly variance report prepared by a Financial Officer of the Borrower Agent and in form and detail reasonably satisfactory to the Specified Ad Hoc Group Advisors (which may take direction from the Required Lenders), comparing for each applicable Budget Variance Test Period the actual results against anticipated results under the applicable Approved Budget, on an aggregate basis and in the same level of detail set forth in the Approved Budget(s), together with a written explanation for all variances of greater than the applicable permitted variance for any given Budget Variance Test Period and such other information as the Specified Ad Hoc Group Advisors may reasonably request (which may take direction from the Required Lenders).
Budget Variance Report means, until the Reporting Reversion Date, (x) prior to Additional Tax Equity Financing Date, a weekly variance report delivered every week and (y) thereafter, a biweekly variance report delivered every two weeks, in each case prepared by a Responsible Officer of the Borrower, comparing for each applicable Budget Reporting Period the actual results against anticipated results under the applicable Budget(s), on a line item basis and in the same level of detail set forth in the Budget(s), together with such other information as the
Budget Variance Report means a variance report in form and detail reasonably satisfactory to the Required Lenders, reconciling the applicable Approved Budget to the actual sources and uses of cash for the Budget Test Period (a) showing, for such periods, actual results for the following items: (i) cash receipts, (ii) operating disbursements, (iii) payroll, (iv) inventory purchase, (v) capital expenditures, (vi) operating cash flow, (vii) non-operating disbursements and (viii) net cash flow, (b) noting a line-by-line reconciliation of variances from values set forth for such periods in the relevant Approved Budget and (c) providing an explanation for all material variances, certified by a Responsible Officer of the Borrower.
Budget Variance Report means a weekly variance report prepared by a Designated Financial Officer or the Independent Financial Advisor of the Company and in form and detail reasonably satisfactory to the Specified Ad Hoc Group Advisors (which may take direction from the Required Lenders), comparing for each applicable Budget Variance Test Period the actual results against anticipated results under the applicable Approved Budget, on an aggregate basis and in substantially the same level of detail set forth in the Approved Budget(s), together with a written explanation for all variances of greater than the applicable permitted variance for any given Budget Variance Test Period and such other information as the Specified Ad Hoc Group Advisors may reasonably request (which may take direction from the Required Lenders).
Budget Variance Report means, prior to the Exit Conversion Date, any DIP Budget Variance Report and, after the Exit Conversion Date, any Exit Budget Variance Report.