BENCHMARK BUDGET definition
BENCHMARK BUDGET means, collectively, (a) the budgets dated August 31, 1999, set forth on SCHEDULE 1.1, reflecting the projected income and expenses on a monthly basis from the Closing Date through the Termination Date for the following entities: (i) Parent and its Subsidiaries; (ii) the Logix Group, itemizing separate budget projections for the Fiber Business and the CLEC Business; and (iii) ▇▇▇▇▇▇ Telephone and its Subsidiaries; and (b) subject to the prior consent of Required Lenders, any adjustments or modifications to all or any portion of the Benchmark Budgets, including, without limitation, any adjustments required to reflect any Permitted Acquisitions. BORROWER, whether one or more, means Logix, any Additional Borrower, and their respective permitted successors or assigns under the Loan Papers.