Working Capital Advance Sample Clauses

Working Capital Advance. If lacking sufficient working capital, the Subrecipient can request a Working Capital Advance to cover anticipated initial expenses. After the initial period, the Subrecipient will receive funds on a reimbursement basis. In its request to Agency, the Subrecipient must provide documentation demonstrating financial need. The Subrecipient must also maintain, or demonstrate the willingness to maintain, both written procedures that minimize the time elapsing between the transfer of funds and disbursement, and financial management systems that meet the standards for fund control and accountability as established in this part. Working Capital Advance payments to the Subrecipient must be limited to the minimum amounts needed for the initial period and be timed to be in accordance with the estimated, immediate cash requirements of the Subrecipient in carrying out the purposes of the grant as described in this Agreement. The timing and amount of Working Capital Advance payment must be as close as is administrative feasible to the actual disbursements by the Subrecipient for allowable grant direct costs and the proportionate share of any allowable indirect costs. Working Capital Advance fund payments are at Agency’s sole discretion and will be made only as close as is administratively feasible to the actual use by the Subrecipient for applicable direct or indirect Work costs and only up to the proportionate share of such allowable costs as is permitted under the Agreement, including applicable Program Requirements.

Working Capital Advance. If necessary, if allowed by law, and if permitted at DSHS sole discretion, Contractor's requests for an advance of funds shall be limited to the minimum amount needed for effective accomplishment of the Project under this Contract, and shall be timed as closely as possible to actual cash requirements. Contractor shall establish procedures to minimize the time elapsing between the transfer of funds from DSHS to Contractor, and shall ensure that such funds are disbursed as soon as administratively possible.

Working Capital Advance. Borrowers acknowledge and agree that on the Closing Date, Lender advanced to Borrowers $9,363,111.46 in working capital and Borrowers hereby represent and warrant to Lender that such working capital advance was used for the purposes set forth on Schedule XVI attached hereto and made a part hereof.

Working Capital Advance. Consistent with the Approved Operating Budget, and upon written request of Civic, City may, at its sole discretion, advance payment to Civic on or about the first day of every fiscal year (the Working Capital Advance) with a commercial bank designated by Civic as its depositary. The purpose of the Working Capital Advance is to provide working capital to Civic to pay its operating costs and expenses while Civic is waiting to receive its monthly reimbursement of Eligible Expenses, as defined herein. The total amount of the Working Capital Advance shall be determined by City in its discretion, but, if City determines to make such an advance, the Working Capital Advance shall not be less than one twelfth (1/12th) of the Approved Operating Budget. Working Capital Advance funds shall be used only for eligible expenditures under this Operating Agreement. City may also, at its sole discretion, choose to roll over Working Capital from one fiscal year to the next to avoid the need for a Working Capital Advance.

Working Capital Advance. 5.1 Upon written request of the P.C., the Company may, in its sole discretion, advance monies to the P.C. for purposes of working capital (the "Working Capital Advance"). 5.2 In the written request for the Working Capital Advance, the P.C. will provide the Company with: (a) a statement that the proceeds of the Working Capital Advance will be used solely by the P.C. for its medical practice; (b) a statement as to the exact use of the Working Capital Advance; and (c) such financial records and reports as the Company may determine to be necessary in connection with its evaluation of the request of the Working Capital Advance. 5.3 Upon review of a request for a Working Capital Advance and the financial records and reports of the P.C., the Company will determine whether and upon what terms it will approve such Working Capital Advance. The Company's determination to make any Working Capital Advance will be based upon such factors as it determines are reasonable and appropriate, including but not limited to, the following: (i) the purpose of the request; (ii) the financial condition of the P.C. at the time of the request; (iii) the prevailing economic conditions; (iv) interest rates; (v) the availability of capital to the Company on reasonable terms and (vi) a business plan and budget of the P.C. for the following calendar year. If the request for the Working Capital Advance is granted, the parties shall negotiate in good faith mutually agreeable terms for the repayment of the Working Capital Advance and the P.C. shall execute such documents as the Company shall reasonably require as a pre-condition to the funding of the Working Capital Advance. If the request for a Working Capital Advance is denied, such denial will not constitute a breach of this Agreement. The repayment of a Working Capital Advance will be in addition to any fees due the Company pursuant to Paragraph 6 of this Agreement.

Working Capital Advance. If a recipient cannot meet the criteria for advance payments as specified in 2 CFR 200.305 and the CO determines that reimbursement is not feasible because the recipient lacks sufficient working capital, DOE may provide funds as a working capital advance in accordance with 2 CFR 200.305(b)(4). When authorized by the CO, working capital advances to the recipient are intended to cover the recipient’s estimated cash disbursement needs for an initial period of time. The period of time is to be decided by the CO but should not normally exceed the recipient’s disbursement cycle. Thereafter, payments are made to the recipient for actual cash disbursements. DOE shall use capital advances to ensure that the recipient complies with cash management policies provided in Section II.D of this chapter.

Working Capital Advance. 9 6. COMPENSATION..........................................................10 7. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE P.C..................11 8. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY..............13 9. TERM..................................................................14 10.

Working Capital Advance. As provided in the Stock Purchase Agreement, the Sellers have represented that they currently expect the Working Capital Adjustment Amount to be a positive amount and, accordingly, the parties have agreed that on the Closing Date there will also be paid to the Sellers an advance on such adjustment (I.E., an estimate of the increase in the purchase price related to a positive Working Capital Adjustment Amount). Based on the definition of Working Capital Advance provided in Section 2.4(c) of the Stock Purchase Agreement, on the Closing Date, Xxxxx Xxxxx on behalf of Buyer, and Xxxxxx X. Xxxxxx, Xx., on behalf of the Company and the Sellers, will consult and determine the appropriate Working Capital Advance no later than the close of business on the Closing Date. The parties acknowledge that such amount will be an estimate which they will arrive at jointly and in good faith. Xxxxxx X. Xxxxxx, Xx. will provide Xxxxx Xxxxx with reasonable detail to support his estimate of the Working Capital Advance. The Working Capital Advance, as determined in good faith by Xxxxxx X. Xxxxxx, Xx. and Xxxxx Xxxxx, will be documented in the form set forth on Exhibit A hereto. Upon the agreement of such parties, the Working Capital Advance will immediately be paid to the Sellers (allocated among the Sellers in the same proportion as the Purchase Price). If the Company has adequate funds, such payment may be made by the Company, which payment shall be deemed to have been made on behalf of Buyer as an element of the sale of stock by Sellers to Buyer. Buyer and Sellers acknowledge that the sole purpose of the Working Capital Advance is to pay an estimate of the Working Capital Adjustment Amount to Sellers pending the calculation of the actual amount as to be indicated on the Closing Financial Statements to be prepared promptly after Closing pursuant to Section 2.5(b) of the Stock Purchase Agreement. Any variance from the estimate to the actual amount will be a component of the ultimate Working Capital Adjustment Amount upon the terms and subject to the conditions set forth in the Stock Purchase Agreement.

Working Capital Advance. Working Capital Advance (WCA) Contractor may, in accordance with applicable law, receive WCA payments of allowable program costs per this Contract, provided Contractor shall comply with the provisions of this section and such additional guidance issued by CSD as is needed to implement this section (collectively “WCA”). In order to receive a WCA, Contractor’s financial management systems shall be compliant with the provisions of this Contract, WCA Requirements, applicable CPNs and CPAs, and the standards for fund control and accountability as established in the Uniform Administrative Requirements, Cost Principles, and Audit Requirements for HHS Awards (45 CFR Part 75). A. WCA Requirements include the following standards: 1. The WCA shall be for the minimum amounts necessary, timed in accordance with Contractor’s immediate cash requirements, which will enable Contractor to carry out the purposes of this Contract;

Working Capital Advance to the Borrower from time to time on any Business Day during the period from the date hereof until the Termination Date in an amount for each such Advance not to exceed such Lender's Unused Working Capital Commitment at such time. Each Working Capital Borrowing shall be in an aggregate amount of $5,000,000 or an integral multiple of $1,000,000 in excess thereof (other than a Borrowing the proceeds of which shall be used solely to repay or prepay in full outstanding Swing Line Advances or outstanding Letter of Credit Advances) and shall consist of Working Capital Advances made simultaneously by the Working Capital Lenders ratably according to their Working Capital Commitments. Within the limits of each Working Capital Lender's Unused Working Capital Commitment in effect from time to time, the Borrower may borrow under this Section 2.01(a), prepay pursuant to Section 2.06(a) and reborrow under this Section 2.01(a).