Common use of Subsequent Working Capital Clause in Contracts

Subsequent Working Capital. Apple may make available to the Orthodontic Entity loans for subsequent working capital requirements in amounts not to exceed Excluded Orthodontic Entity and Orthodontic Expenses. Such loans shall accrue interest beginning on the day of the advance at an interest rate equal to the prime rate then in effect, plus 1%. The loans, if any, shall be repaid to Apple out of the Net Operating Amount generated in subsequent months and become immediately due and payable if the Orthodontist terminates his employment with the Orthodontic Entity, for any reason. Any principle or interest paid to Apple by the Orthodontic Entity pursuant to Sections 6.3(a) or 6.3(b) are Excluded Orthodontic Entity and Orthodontist Expenses.