Use of Working Capital Reserve. The Manager or (in relation to its interim servicing obligations) the Initial Member may direct the Company to withdraw funds from the Working Capital Reserve Account (including, as applicable, through release of such funds into the Collection Account) only to cover Working Capital Expenses in accordance with Section 3.6
Use of Working Capital Reserve. The Manager or (in relation to its interim Servicing rights or obligations) the Initial Member (including as Transferor) may direct the Company to withdraw funds from the Working Capital Reserve Account (including, as applicable, through release of such funds into the Collection Account) only to cover Working Capital Expenses in accordance with Section 3.6 of the Custodial and Paying Agency Agreement. The Manager shall not permit withdrawals from the Working Capital Reserve Account for any other purpose; provided, that, to the extent expressly permitted in the Custodial and Paying Agency Agreement or as otherwise required pursuant to Section 9.2 hereof, the Manager may or will, as applicable, cause the release of funds from the Working Capital Reserve Account (including for purposes of distributions to the Members) in accordance with, and subject to, the terms of the Custodial and Paying Agency Agreement and, as applicable, Section 9.2. With respect to any Group of Assets, on the Servicing Transfer Date, the Initial Member will be reimbursed from the Working Capital Reserve Account (including, as applicable, through release of such funds into the Collection Account) for an amount equal to all Working Capital Expenses paid by it (including as the Transferor) with respect to such Group of Assets at any time after the Cut-Off Date and on or before such Servicing Transfer Date (to the extent the same have not been otherwise reimbursed pursuant to the Transfer Agreement or Custodial and Paying Agency Agreement).
Use of Working Capital Reserve. The Manager or (in relation to its interim servicing obligations) the Initial Member may direct the Company to withdraw funds from the Working Capital Reserve Account (including, as applicable, through release of such funds into the Collection Account) only to cover Working Capital Expenses and Permitted Vertical Completion Expenses in accordance with Section 3.6 of the Custodial and Paying Agency Agreement. The Manager shall not permit withdrawals from the Working Capital Reserve Account for any other purpose; provided, that, to the extent expressly permitted in the Custodial and Paying Agency Agreement, the Manager may cause the release of funds from the Working Capital Reserve Account (including for purposes of distributions to the Members) in accordance with, and subject to, the terms of the Custodial and Paying Agency Agreement. With respect to any Asset, on the Servicing Transfer Date, the Initial Member shall be reimbursed from the Working Capital Reserve Account for an amount equal to all Working Capital Expenses (and any advance of the Initial Member that is reimbursable pursuant to the Contribution Agreement) paid by it at any time after the Cut-Off Date and on or before such Servicing Transfer Date (to the extent the same have not been otherwise reimbursed pursuant to the Contribution Agreement or Custodial and Paying Agency Agreement).
Use of Working Capital Reserve. The Manager or (in relation to its interim Servicing obligations) the Initial Member (including as Transferor) may direct the Company to withdraw funds from the Working Capital Reserve Account (including, as applicable, through release of such funds into the Collection Account) only to cover Working Capital Expenses and Permitted Development Expenses in accordance with Section 3.6 of the Custodial and Paying Agency Agreement. The Manager shall not permit withdrawals from the Working Capital Reserve Account for any other purpose; provided, that, to the extent expressly permitted in the Custodial and Paying Agency Agreement, the Manager may cause the release of funds from the Working Capital Reserve Account to the Collection Account in accordance with, and subject to, the terms of the Custodial and Paying Agency Agreement. With respect to any Group of Assets, on the Servicing Transfer Date, the Initial Member shall be reimbursed from the Working Capital Reserve Account (including, as applicable, through release of such funds into the Collection Account) for an amount equal to all Working Capital Expenses paid by it (including as the Transferor) with respect to such Group of Assets at any time after the Cut-Off Date and on or before such Servicing Transfer Date (to the extent the same have not been otherwise reimbursed pursuant to the Contribution Agreement or Custodial and Paying Agency Agreement).
Use of Working Capital Reserve. The Manager or (in relation to its
Use of Working Capital Reserve. The monies maintained in the Working Capital Reserve may be used by the Authority for alterations, repairs, renewals, improvements or replace- ments with respect to the Interceptor which are necessary or desirable for proper operation and maintenance thereof and which are of a type that would not ordinarily be made by the Authority as a current operating expenses [sic] as well as to retire any indebtedness issued by the Authority to finance improvements and additions to the Interceptor. Any interest income on the Reserve when the balance is grater than Two Hundred, Fifty Thousand ($250,000) Dollars shall be used to offset Interceptor costs.
