Adjusted Budget has the meaning set forth in Section 2.5.
Adjusted Budget means, as at any date of determination, the Budget --------------- for the then current Fiscal Year, as adjusted for (a) the anticipated results from permitted future Asset Sales to the extent any Borrower or any of its Subsidiaries has entered into a definitive purchase and sale agreement with a prospective purchaser with respect thereto, a copy of which shall have been delivered to the Administrative Agent and Lenders, (b) actual restructuring charges taken in connection with permitted Asset Sales consummated on or before such date of determination, and (c) business closures consummated on or prior to such date of determination, in each case as calculated in a manner satisfactory to the Required Lenders. Adjustments to the Budget shall take effect as of the end of the month in which the permitted Asset Sale is irrevocably consummated or, in the case of a future Asset Sale under clause (a) above, as of the end of the month in which a definitive purchase and sale agreement becomes effective, and, in cases other than Asset Sales, at the end of the month when the charge is actually taken by the applicable Borrower.
Examples of Adjusted Budget in a sentence
Within ten business days of receiving any commitment for Other Funding, the Recipient will provide notice to the Province of the commitment, including copies of any relevant agreements, and provide the Province with an Adjusted Budget that reflects the Other Funding.
In order to reallocate an Eligible Expense within the Budget under section 6.2(a), the Recipient must submit an Adjusted Budget at the time of submission of a Milestone Report that requires the reallocation clearly marking the changes from both the Budget and the most recent Adjusted Budget.
More Definitions of Adjusted Budget
Adjusted Budget means, on any date, the then-applicable 13-Week Budget, as adjusted (on a reasonable basis and in good faith) to permit a cumulative adverse deviation of no greater than 10%, and as further adjusted with the consent of the Requisite DIP Lenders.
Adjusted Budget means the Budget with any adjustments made in accordance with section 2.12;
Adjusted Budget means the Budget with any adjustments made in accordance with section 6.2 of Appendix A - Funding Agreement;