Common use of Operating Budgets Clause in Contracts

Operating Budgets. (i) in the case of Newco only, provide to the Bank (in a format agreed by the Bank prior to tile date of this Agreement) an Operating Budget for each of its Financial Years during the Security Period, within 45 days after the start of each such Financial Year, together with a comparison of the information, estimates, forecasts and projections contained therein with any relevant information, estimates, forecasts and projections provided to the Bank pursuant to Clause 2(b) of Schedule 1 to this Agreement including an analysis justifying any variations therefrom; and (ii) if any Group Company shall determine that any of the estimates, forecasts or projections made in relation to any of its Financial Years should be different from those set out in the then current Operating Budget (or any substitution therefor subsequently made and agreed by the Bank), provide to the Bank revised estimates, forecasts or projections in respect of any part of each such Financial Year and such revised estimates, forecasts or projections shall apply immediately following their approval by the boards of directors of the relevant company:

Operating Budgets. (ia) in the case of Newco only, provide to the Bank Facility Agent (in a format agreed by acceptable to the Bank prior to tile date Facility Agent, acting on the instructions of this Agreementthe Majority Banks acting reasonably) an Operating Budget for each of its Financial Years during the Security PeriodPeriod beginning on or after 1 January 2001, within 45 not less than 15 days after prior to the start of each such Financial Year, together with a comparison of the information, estimates, forecasts and projections contained therein with any relevant information, estimates, forecasts and projections provided to contained in the Bank pursuant to Clause 2(b) of Schedule 1 to this Agreement Financial Plan including an analysis justifying any variations therefrom; and (iib) if any Group Company shall determine that any of the estimates, forecasts or projections made in relation to any of its Financial Years should be materially different from those set out in the then current Operating Budget (or any substitution therefor subsequently made and agreed by the BankFacility Agent), provide to the Bank Facility Agent revised estimates, forecasts or projections in respect of any part of each such Financial Year and such revised estimates, forecasts or projections shall apply immediately following their approval by the boards of directors of the relevant company:company and Dynea;