Variance Reports Clause Samples

Variance Reports. By no later than 12:00 p.m. New York City time on the Thursday of each calendar week following the week in which the Petition Date occurs (each such Thursday, a “Variance Report Date”) commencing with June 25, 2020, a line-item by line-item variance report (each, a “Variance Report”) setting forth, in reasonable detail: (x) the actual receipts and operating disbursements (including any professional fees) for each line item in the Approved DIP Budget for the week ending on the most recent Friday (and, in the case of the first such report, the week in which the Petition Date occurs), (y) any differences between such actual amounts for each line item in the Approved DIP Budget for such period versus projected amounts set forth in the Approved DIP Budget for such period for each line item included in the Approved DIP Budget for such period and on a cumulative basis for the period from the beginning of the week in which the Petition Date occurs through the end of such period (such cumulative report to be prepared by aggregating the variances set forth in each Variance Report) and (z) the computations necessary to determine compliance with Section 6.09 together with a statement from a Financial Officer certifying the information contained in the report. The Variance Report shall also provide a reasonably detailed explanation for any variance in such Variance Report in excess of 5.0% in actual receipts or operating disbursements for each such line item during the Variance Testing Period as compared to projections for such line items during the Variance Testing Period as set forth in the Approved DIP Budget for such period.

Variance Reports. On Wednesday following each two-week period (with the first such delivery on March 1, 2023 with respect to the first Variance Test Period, with the second such delivery of March 15, 2023 with respect to the second Variance Test Period and thereafter the Wednesday following each applicable Variance Test Period), a report in substantially the form of Exhibit M (the “Variance Report”).

Variance Reports. Variance Report, including the following:

Variance Reports. Such Loan Party will obtain from the Manager a Variance Report: (i) with respect to any specific Artist Catalogue, as of the date that is twelve (12) months following the date of acquisition of such Artist Catalogue and (ii) with respect to all Artist Catalogues that have been owned by a Loan Party for more than twelve (12) months, the date of each Appraisal delivered pursuant to Section 5.01(o) above. The Manager shall deliver a copy of each Variance Report prepared in accordance with this Section 5.01(r) to each Lender on |US-DOCS\161499384.7|| or prior to the earlier of the Reporting Date or the Borrowing Date next following the date of such report.

Variance Reports. Any variance report furnished by the Borrower pursuant to subsection 4.2(A)(1)(b) shows either (i) a negative variance of cumulative actual aggregate disbursements from the Projected Aggregate Disbursements set forth in the Approved Budget since the beginning of the first projected Calendar Week ending August 29, 2008 of greater than $2,500,000 in the aggregate, or (ii) a negative variance of cumulative actual aggregate collections from the Projected Aggregate Collections set forth in the Approved Budget since the beginning of the first projected Calendar Week ending August 29, 2008 of greater than $2,500,000 in the aggregate, unless, with respect to clauses (i) and (ii) above, a negative variance of cumulative actual net cash flow before borrowings from the Projected Net Cash Flow Before Borrowings set forth in the Approved Budget since the beginning of the first projected Calendar Week ending August 29, 2008, 2008 is less than $2,500,000; or

Variance Reports. Beginning on the first Monday that is seven (7) days following the Effective Date and on Monday of each week thereafter, the Borrower shall deliver via e-mail to the Lenders and its respective counsel a Variance Report. Concurrently with delivery of each Variance Report, a Financial Officer of the Borrower shall deliver to the Administrative Agent and the Lenders an Officer’s Certificate certifying that the Variance Report (i) demonstrates compliance with Section 6.16 and (ii) was prepared in good faith and fairly presents in all material respects the information set forth therein.

Variance Reports. If (A) a Supplier Party notifies Boeing in writing (email being sufficient) that it does not intend to request an Advance for the next Fiscal Month after the end of the Measurement Period of the most recent Advance or neither Supplier Party requests a proposed Advance within ten (10) Business Days after the end of such Measurement Period or (B) after the end of the Measurement Period relating to a Subsequent Advance that results in the Commitment Amount being reduced to $0 after giving effect to such Subsequent Advance as contemplated by Section 3(b), in each case, Company shall deliver or cause to be delivered to Boeing a Variance Report with respect to such Advance within five (5) Business Days after the end of the applicable period described above (an “Interim Variance Report”). In addition, Company shall deliver or cause to be delivered to Boeing (or its “advisor clean team” only with respect to any “advisor only” information) all other supporting detail as may be requested by Boeing, including, without limitation, all Receipts for the Supplier Sites and all Disbursements for the Supplier Sites for the Measurement Period relating to such Advance, together with a reasonably detailed description of the facts and circumstances leading to any material variances set forth in such Interim Variance Report.

Variance Reports. No later than Thursday of every other calendar week, commencing May 6, 2010, a variance report in form reasonably satisfactory to the Administrative Agent, showing on a line item basis the percentage and dollar variance of actual cash disbursements and cash receipts for the prior week from the amounts set forth for each such period in the most recent Cash Flow Forecast and a narrative analysis of each material variance for the prior two week period.

Variance Reports. To the extent the Borrowers are required to update the Budget weekly in accordance with the provisions of Section 6.01(d), by no later than the third Business Day of each week, otherwise, on a bi-weekly basis, by no later than the third Business Day of every other week (in either case, commencing with the first such day following the Closing Date), variance reports (in the same format as the Budget), showing actual cash receipts and disbursements for the immediately preceding week(s), noting therein all variances, on a line-item basis, from values set forth for such period in the Budget (and updates thereto).