Material Adverse Deviation means, as of any date of determination, an adverse deviation of more than the Permitted Deviation from (a) the aggregate amount set forth in the Budget for any Budget Period under the heading “Inflows” or (b) the aggregate amount set forth in the Budget for any Budget Period under the heading “Outflows”.
Material Adverse Deviation means, as of any date of determination, an adverse deviation of more than the Permitted Variance from the aggregate amount set forth in the line item of the Budget titled "Total Operating Disbursements" for the 4 week period ending on November 28, 2020 and each rolling 4 week period thereafter.
Material Adverse Deviation means, as of any date of determination, an adverse deviation of more than the Permitted Variance from the aggregate amount set forth in the following line items of the Budget: (i) "Total Operating Disbursements" for the following periods: the 3 weeks ending on February 21, 2020, the 4 weeks ending on February 28, 2020 and each rolling 4 week period thereafter and (ii) "Cash Receipts" for the following periods: the 2 weeks ending on February 21, 2020, the 3 weeks ending on February 28, 2020, the 4 weeks ending on March 6, 2020 and each rolling 4 week period thereafter.
Examples of Material Adverse Deviation in a sentence
Risk of Material Adverse Deviation The Appointed Actuary must provide specific RELEVANT COMMENT paragraphs to address the risk of material adverse deviation.
The Relevant Comments paragraphs on the Risk of Material Adverse Deviation (RMAD) are particularly useful to regulators.
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If the Debtors have any reason to believe that a Material Adverse Deviation has occurred or will occur, the Debtors shall promptly notify the DIP Agent and the Prepetition Agents.
Compliance with the Approved Budget (i.e., a determination of whether a Material Adverse Deviation has occurred) shall be tested in accordance with the DIP Agreement.
More Definitions of Material Adverse Deviation
Material Adverse Deviation means, as of any date of determination, an adverse deviation of the amount set forth for any Budget Period in any line item of the Initial Budget under the heading "Inflows" or "Outflows" that results in (a) any receipts being less than 80% of the amount set forth in any line item of the Initial Budget for any Budget Period under the heading "Total Cash Receipts"; provided, that, if for any Budget Period, the actual cash receipts are in excess of 100% of the amount set forth in the Initial Budget for such period under the heading "Total Cash Receipts" (such excess over 100%, the "Carry Forward Amount"), then, for purposes of determining whether there was a Material Adverse Deviation during the immediately succeeding Budget Period, the amount of cash receipts for such Budget Period may be increased by the Carry Forward Amount, or (b) any cash disbursements being more than 120% of the amount set forth in the Initial Budget for any Budget Period under the heading "Total Cash Disbursements".
Material Adverse Deviation means, as of any date of determination, an adverse deviation of more than the Permitted Deviation from the amount set forth for any Budget Period in the line item of the Long-Term Budget entitled "Total Payments" or the line item of the Long-Term Budget entitled "Total Cash Generation/(Use)"; provided, that the Borrowers may carry forward amounts for any Budget Period under each such line item in the Long-Term Budget in an amount not greater than 25% of (i) in the case of "Total Payments", the difference between (A) the aggregate amount of total payments projected for such Budget Period under such line item in the Long-Term Budget plus the Permitted Deviation for such Budget Period and (B) the actual aggregate amount of total payments for such Budget Period (to the extent less than the projected amount therefor and after giving effect to the Permitted Deviation from the projected amount for such Budget Period) and (ii) in the case of "Total Cash Generation/(Use)", the difference between (A) the aggregate amount of cash generation or the aggregate amount of cash (use), as the case may be, projected for such Budget Period under such line item in the Long-Term Budget plus the Permitted Deviation for such Budget Period and (B) the actual aggregate amount of cash generation (to the extent more than the projected amount therefor and after giving effect to the Permitted Deviation from the projected amount for such Budget Period) or the actual aggregate amount of cash (use) (to the extent less than the projected amount therefor and after giving effect to the Permitted Deviation from the projected amount for such Budget Period), as the case may be, for such Budget Period (such amount, in each case, the "Carry-Forward Amount") from one Budget Period to succeeding Budget Periods (each a "Carry-Forward Period"), which Carry-Forward Amount shall be deemed to increase the amount of total payments or cash (use), or decrease the amount of cash generation, as the case may be, permitted in any Carry-Forward Period (after giving effect to the Permitted Deviation from the projected amount for such Carry-Forward Period) by the aggregate Carry-Forward Amount. Notwithstanding the foregoing, the calculation of the Permitted Deviation and the Carry-Forward Amount for any Budget Period shall, for purposes of this definition, exclude the line items entitled "Negotiated/Finance Payments" and "Transaction Costs" related to the Pharma Sale and the plan of reorganization projected in th...
Material Adverse Deviation means, as of any date of determination, a deviation of more than 10%, either (i) on a weekly basis or (ii) on a cumulative basis for the period from and after the Filing Date to and including such date, in either case above any line item set forth in the Budget for such period.
Material Adverse Deviation means any of the following deviations from any of the following line items set forth in the Weekly Cash Flow Schedules:
Material Adverse Deviation means a deviation of more than 15% from -------------------------- any of the following line items set forth in the Long Term Budget: (i) Revenue; (ii) Gross Margin; (iii) Operating Income; (iv) Net Income before Income Taxes and Restructuring Expense; (v) EBITDAR; (vi) the sum of (x) DIP Financing plus (y) so long as no Event of Default shall have occurred and be continuing, the Permitted Carry-Forward (as hereinafter defined); or (vii) the sum of (x) Cash Restructuring Costs plus (y) so long as no Event of Default shall have occurred and be continuing, the Permitted Carry-Forward. For purposes of this definition of "Material Adverse Deviation", "Permitted Carry-Forward" shall mean, for any period, the amount (if any) by which the projected amount of such line item as shown in the Long Term Budget for the immediately preceeding period exceeded the actual amount of such line item for such immediately preceeding period.
Material Adverse Deviation means, as of the date of determination, an adverse deviation in excess of (i) 20%, in respect of the Budget line items for (x) total receipts, (y) research and development, or (z) overhead plus distribution and freight, or (ii) $1,000,000, in respect of the Budget line item for cash flow.
Material Adverse Deviation means, as of any date of determination, the occurrence of any of the following: (i) actual cash receipts, in the aggregate, for any two week test period on a rolling basis are less than ninety percent (90%) of the amount projected in the Budget for such two week period, or (ii) actual cash disbursements, on a line item basis for any two week test period on a rolling basis exceed one hundred fifteen percent (115%) of the amount projected for such line item in the Budget for such two week period.”