Variance Limit definition

Variance Limit means a limit of no less than 0.25% above or below the average interest rate of all the qualifying money market funds

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Variance Limit shall have the meaning specified in Section 8.4.

Variance Limit as defined in Section 6.7.

Examples of Variance Limit in a sentence

• The Debtors shall operate in accordance with the Approved Budget and all disbursements shall be consistent with the provisions of the Approved Budget (subject to the Variance Limit).

• Upon Geron’s exercise of its US Opt-In Rights, the Initial Development Budget provided in the Geron Decision Package for the Additional Studies that are US Studies shall be the Development Budget under the CDP going forward thereafter, subject to the Annual Budget Variance Limit as it pertains to JSC decision making hereunder.

• Subject to compliance with the Variance Limit, the Borrower shall not make disbursements or permit any other Debtor to make disbursements in excess of the amounts set forth in the Approved Budget for any period.

• Further, Budget Variance Limit (as defined in the Facility Operations Agreement) is to be abandoned.

• Collateral (as defined in section 363(a) of the Bankruptcy Code) shall be used by the Debtors (i) only in accordance with the Budget (as defined herein), including the applicable Variance Limit, and to fund the Carve-Out (as defined herein), and (ii) only to fund costs not otherwise contemplated to be funded by CTCI under the DIP CTCI Contract, as set forth in summary below and as described in further detail in the DIP CTCI Contract.

• For the avoidance of doubt, the Initial Development Budget for any such Additional Studies that are US Studies referenced in clause (ii) above shall not become subject to the annual Budget Variance Limit, and Geron shall owe to ▇▇▇▇▇▇▇ no part of the Development Costs incurred thereunder, or any part of the Development Costs described in clause (iv) above, unless and until Geron exercises its US Opt-In Rights and thereupon such studies and the Initial Development Budget are incorporated into the CDP.

• Cash Collateral may be used only for Acceptable Uses of Proceeds and, in each case, solely in accordance with the Approved Budget (subject to the Variance Limit) and the DIP Orders (each as defined below) incorporating the terms hereof.

More Definitions of Variance Limit

Variance Limit has the meaning assigned to such term in Section 7.15.

Variance Limit shall have the meaning provided in Section 10.11(a).

Variance Limit means a variance (whether negative or positive) of the Actual Net Cash Flow compared to the Budgeted Net Cash Flow for the Comparison Period equal to the greater of (I) fifteen percent (15%) of the Budgeted Net Cash Flow for the Comparison Period or (II) $100,000 (subject to clause (9)(a)(iii)(D) hereof);