Cash Variance definition
Cash Variance means, as of the last day of any calendar week, (i) $50,000,000 plus (ii) for each preceding week in the DIP Budget during which actual total cash flows exceeded total cash flows projected in the DIP Budget for such week, the amount of such excess, minus (iii) for each preceding week in the DIP Budget during which total cash flows projected in the DIP Budget exceeded actual total cash flows for such week, the amount of such excess. For the avoidance of doubt, to the extent the Cash Variance as of any given date is less than or equal to zero, it shall be assumed to be zero for purposes of calculation of compliance with Section 5.04(c). NYDOCS03/8797797
Examples of Cash Variance in a sentence
Not permit variance from the DIP Budget of actual cash flow (excluding from the calculation thereof payments for professional fees not attributable to any litigation) of the Borrower and the other Loan Parties to exceed, for any Testing Period for any calendar week (commencing with March 1, 2010), 20% of the amount set forth in the DIP Budget for such non-excluded cash flows for such Testing Period plus the amount, if any, of the Cash Variance.