Excess Working Capital Advances. In the event there are insufficient funds in the Collection Account and also insufficient available funds in the Working Capital Reserve Account (including, as applicable, by a permitted release of such funds to the Collection Account or as otherwise permitted in the Custodial and Paying Agency Agreement) to (a) pay any Working Capital Expenses other than (i) Funding Draws or (ii) the Management Fee, Interim Management Fee or Interim Servicing Fee, or (b) fund the Defeasance Account by such amount as may be required to cure a Purchase Money Notes Trigger Event (as defined in the Reimbursement, Security and Guaranty Agreement), then the Manager (x) shall, except as otherwise provided in Section 12.6, make an advance of its own funds to the Company to be used by the Company for payment of such permitted (or required, as applicable) Working Capital Expenses and (y) may (but shall not have an obligation to) make an advance of its own funds to the Company to be used by the Company for such funding of the Defeasance Account (any such advance to the Company pursuant to this sentence, an “Excess Working Capital Advance”). In no event may Excess Working Capital Advances be used for the making of any Funding Draws. No Excess Working Capital Advance shall accrue any interest thereon. Excess Working Capital Advances shall be repaid in accordance with Section 5.1 of the Custodial and Paying Agency Agreement. The proceeds of Excess Working Capital Advances for payment of Working Capital Expenses shall be deposited into the Collection Account for disbursement therefrom for the payment of such permitted Working Capital Expenses. The proceeds of any Excess Working Capital Advance for an applicable funding of the Defeasance Account shall be deposited into (and the Manager shall remit such proceeds to the Paying Agent for such deposit into) the Defeasance Account. To the extent multiple Working Capital Expenses (payment of which is permitted to be made using such Excess Working Capital Advance) are outstanding, any funding or use by the Manager of Excess Working Capital Advances for payment of all or any of the same shall follow the relevant priorities as set forth in the Priority of Payments and in Section 3.1 of the Custodial and Paying Agency Agreement, as applicable. All Excess Working Capital Advances, together with a detailed statement of the sources and uses thereof (which shall be broken out by the reimbursable and unreimbursable portions thereof), shall be reflected...
Excess Working Capital Advances. The Manager shall make Excess Working Capital Advances to the Paying Agent from its own funds in accordance with the terms described in Section 5.4 of the LLC Operating Agreement and to the extent that there are insufficient funds (a) in the Collection Account or the Working Capital Reserve with which to pay Working Capital Expenses in full or (b) in the Distribution Account to fund the Defeasance Account by such amount as might be required to cure a Purchase Money Notes Trigger Event. The Manager shall direct the Paying Agent to deposit any Excess Working Capital Advances to pay Working Capital Expenses into the Collection Account (from which the funds will be available to pay such Working Capital Expenses) and shall direct the Paying Agent to deposit any Excess Working Capital Advances as might be required to cure a Purchase Money Notes Trigger Event into the Defeasance Account.
Excess Working Capital Advances. The Manager shall, except as otherwise provided in Section 12.6 of the LLC Operating Agreement, make Excess Working Capital Advances to the Paying Agent from its own funds in accordance with the terms described in Section 5.4 of the LLC Operating Agreement and to the extent that there are insufficient funds
(a) in the Collection Account and the Working Capital Reserve with which to pay Working Capital Expenses (other than Funding Draws) in full or (b) in the Distribution Account to fund the Defeasance Account by such amount as might be required to cure a Purchase Money Notes Trigger Event. The Manager shall direct the Paying Agent to deposit any Excess Working Capital Advances to pay Working Capital Expenses into the Collection Account (from which the funds will be available to pay such Working Capital Expenses) and shall direct the Paying Agent to deposit any Excess Working Capital Advances as might be required to cure a Purchase Money Notes Trigger Event into the Defeasance Account.
Excess Working Capital Advances. The Manager is (under certain circumstances) required to, and (under certain other circumstances) may in its discretion, from time to time make Excess Working Capital Advances to the Paying Agent from its own funds pursuant to Sections 5.5 and 12.6 of the LLC Operating Agreement. The Company (or the Manager on behalf of the Company) is to direct the Paying Agent to deposit any Excess Working Capital Advances (i) if made to pay Working Capital Expenses, into the Collection Account (from which the funds will be available to pay Working Capital Expenses) or (ii) if made pursuant to clause (y) of the first sentence of Section 5.5 of the LLC Operating Agreement, as set forth in Section 5.1(c).
Excess Working Capital Advances. The Manager is (under certain circumstances) required to, and (under certain other circumstances) may in its discretion, from time to time make Excess Working Capital Advances to the Paying Agent from its own funds pursuant to Sections 5.5 and 12.6 of the LLC Operating Agreement. The Manager shall direct the Paying Agent to deposit any Excess Working Capital Advances, if made to pay Working Capital Expenses, into the Collection Account (from which the funds will be available to pay Working Capital Expenses).
Excess Working Capital Advances. 45 Section 3.8 Discretionary Funding Advances 45 Section 3.9 Private Owner Pledged Account 45
