Common use of Variance Report Clause in Contracts

Variance Report. On a weekly basis commencing with the last Business Day of each calendar week ending the week following the Closing Date, a variance report (a “Variance Report”) certified by the chief financial officer of Borrower, in form reasonably acceptable to the Administrative Agent and the Required Lenders, setting forth (i) the actual Aggregate Cumulative Net Cash Flow for such immediately preceding calendar week on a line-item basis, (ii) the variance in dollar amounts of the Aggregate Cumulative Net Cash Flow for each 4-week period (or, to the extent less than 4-weeks have elapsed since the Closing Date, such shorter period of time) from those reflected for the corresponding period in the then applicable Approved Budget and (iii) the variance in dollar amounts of the actual expenditures and disbursements in respect of professional fees for each 4-week period (or, to the extent less than 4-weeks have elapsed since the Closing Date, such shorter period of time) from those reflected for the corresponding period in the then applicable Approved Budget.