Closing Budget definition

Closing Budget means the initial 13-week cash flow budget provided by the Borrower to the Administrative Agent in conjunction with the closing of the Fourteenth Amendment hereto.
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Closing Budget means a line item budget detailing projected cash receipts and disbursements for the Borrowers for the Budget Term and comprised of forecasts for the initial twelve weeks on a weekly basis and for the following three months on a monthly basis (each such period, a "Budget Period"), as modified in accordance with Section 7.01(f), and as may be adjusted or modified from time to time in the DIP Agents' and Requisite DIP Lenders' reasonable discretion.
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Examples of Closing Budget in a sentence

  • Prior to Closing, Budget shall have transferred all of its Business existing at the time of Closing, including, but not limited to all Obligations to its wholly owned subsidiary, to InfoCenter and InfoCenter shall have entered into a Distribution Agreement in the form of the attached Exhibit “A” for the spin-off of InfoCenter.

  • Unless otherwise agreed by the Administrative Agent, such Loan Request shall be made in accordance with the most recent Weekly Budget (or the Closing Budget, if such Additional Delayed Draw Loan is made prior to the delivery of the first Weekly Budget).

  • Prior to Closing, Budget shall have completed, at its sole expense (which expense shall not remain on the income statement or be reflected on the balance sheet of Budget as of and provided at Closing, hereinafter referred to as the “Balance Sheet”), a reverse 10-for-1 split of its common stock (with no new share certificates to be issued as a result thereof), such that there will be 2,891,168 shares of common stock of Budget outstanding at Closing (the “Reverse Split”).

  • Aggregate DIP Loans at any one time outstanding shall not exceed the lesser of (a) $45,000,000 or (b) the amount projected to be outstanding under the Closing Budget, subject to the permitted variances pursuant to Section 3.01(b)(i).

  • Lenders shall have received and approved a revised Closing Budget pursuant to Section 7.01(f) for the period within which the DIP Loan is requested.

  • When an employee works any part of his/her thirty (30) minute, duty-free lunch, the full thirty (30) minutes shall count toward the employee’s forty (40) hours of work for that workweek.

  • Based on the Weekly Budget, the DIP Administrative Agent may in its sole discretion agree to adjust or modify the Closing Budget.

  • All cash collateral and proceeds of DIP Loans together with all Cash Collateral (as defined in the Interim Order) shall be deposited and maintained only in a cash concentration account or in an account permitted by an order of the Bankruptcy Court, as approved by the DIP Agents, and to the extent not expended by the Borrowers pursuant to the Closing Budget, used to reduce the DIP Loans.

  • Notwithstanding the foregoing, in any Budget Period the amount expended for film rent may be greater than the Closing Budget line limit by an amount equal to 70% of the difference between (i) the actual box office receipts for such Budget Period over (ii) the budgeted box office receipts in the Closing Budget for such Budget Period.

  • No GC Party shall, directly or indirectly, make any payments to vendors or suppliers or any other Person on account of any pre-Filing Date indebtedness without the prior consent of the DIP Agents or order of the Bankruptcy Court on notice to the DIP Agents or except as expressly provided in the Closing Budget.

Related to Closing Budget

  • Operating Budget has the meaning given in Section 3.11(a).

  • CapEx Budget means the annual budget covering the planned Capital Expenditures for the period covered by such budget. The CapEx Budget shall not include Discretionary Capital Expenditures.

  • Closing Date Business Plan means the set of Projections of Borrowers for the 3 year period following the Closing Date (on a year by year basis, and for the 1 year period following the Closing Date, on a month by month basis), in form and substance (including as to scope and underlying assumptions) satisfactory to Agent.

  • Initial Budget has the meaning set forth in Section 7.06(a).

  • Capital Expenditure Budget shall constitute an estimate for the applicable period of the capital expenditures required to (i) accomplish capital enhancement projects included in the most recently approved Strategic Plan, (ii) maintain and preserve the Partnership's assets in good operating condition and repair and (iii) achieve or maintain compliance with any HSE Law.