Example ContractsClausesdip budgetVariants
DIP Budget
DIP Budget contract clause examples

Section # DIP Budget. The Credit Parties shall use all proceeds of the Loans and any DIP Cash Collateral, and shall operate, strictly in accordance with the DIP Budget, as the DIP Budget may be modified pursuant to Section 5.2(s), and subject to any Permitted Variances and the Permitted Carry.

The Credit Parties shall use all proceeds of DIP Loans and any DIP Cash Collateral, and shall operate, strictly in accordance with the DIP Budget, as the DIP Budget may be modified pursuant to [Section 8.01(o)], and subject to the variances permitted pursuant to [Sections 9.01(b) and (c)])] (the “Permitted Variances”); provided, that notwithstanding the Permitted Variances, the Credit Parties shall not make any capital expenditures in respect of their drilling obligations under the Subject Leases except to the extent expressly set forth in the DIP Budget.

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