Working Capital Advances. The Borrower shall repay to the Administrative Agent for the ratable account of the Working Capital Lenders on the Termination Date the aggregate outstanding principal amount of the Working Capital Advances then outstanding.
Working Capital Advances. The Borrowers shall repay to the Administrative Agent for the ratable account of the Lenders on the Termination Date the aggregate principal amount of the Working Capital Advances then outstanding.
Working Capital Advances. From and after the execution of this Agreement until the earlier of: (i) the Effective Time, or (ii) the termination of this Agreement, Acquiror shall provide Target with working capital as may be reasonably required by Target in the ordinary course of its business in exchange for notes payable by Target, together with interest at an annual rate of 8% and with a maturity date of June 30, 1999; provided that, any such notes shall become immediately due and payable to Acquiror in the event of a termination of this Agreement.
Working Capital Advances. At the Effective Date, Parent agrees to make certain funds available to Sub and the other members of the Sub Group for general working capital purposes in connection with the Reorganization, and thereafter until the IPO Closing Parent further agrees to make available to Sub and the members of the Sub Group such other amounts as Sub may reasonably request from time to time, which amounts shall be paid by Sub to Parent on the IPO Closing Date.
Working Capital Advances. During the initial Term, Lender shall make Working Capital Advances to Borrower subject to and in accordance with the following terms and conditions:
(a) Working Capital Advances for each Property shall be made in accordance with the allocations set forth in the Working Capital Budget for such Property. The Working Capital Budgets for the Properties are set forth in Schedule 2.1(5) hereof. Unless Lender otherwise consents in writing, Borrower shall not, on a cumulative, aggregate basis, reallocate more than five percent (5.0%) of the Loan funds within a Working
Working Capital Advances. Lender shall make Advances to Borrower, in accordance with Section 2.2 of this Agreement for working capital purposes and, to the extent not prohibited hereunder, other general corporate purposes, provided that the aggregate amount thereof outstanding at any one time shall not exceed (i) prior to the Facility Reduction Date, Fifty Million Dollars ($50,000,000.00), and (ii) on and after the Facility Reduction Date, Twenty Million Dollars ($20,000,000.00). Borrower shall repay each working capital advance in accordance with the terms of this Agreement and the Note.
Working Capital Advances. In addition to the applicable terms and conditions set forth in Section 2.1 hereof, and the general conditions set forth in Part B above, each Working Capital Advance shall also be subject to Lender's receipt, review, approval and/or confirmation of the following, at Borrower's cost and expense, each in form and substance reasonably satisfactory to Lender:
1. Lender shall have approved the Working Capital Budget for the Property for which the Working Capital Advance is requested.
2. Copies of any invoices to be paid with such Working Capital Advance and, to the extent not previously delivered to Lender, evidence of the payment of any invoice submitted with the immediately preceding request for a Working Capital Advance.
3. Borrower shall have executed and delivered to Lender copies of all documents, agreements, certificates, affidavits, searches or other instruments which Lender and its counsel determine are necessary to comply with state Laws applicable to building and construction loans.
4. Borrower shall not use any portion of any Working Capital Advance for payment of any costs or expenses other than those for which such Advance was requested and approved.
5. A certificate of the Architect stating that, in the professional opinion of the Architect (or such other professional as may be reasonably satisfactory to Lender), if an architect customarily would be retained for such Capital Expenditures and Tenant Improvements, or a certificate of an officer of the general partner of Borrower stating that:
(a) all of such Capital Expenditures and Tenant Improvements completed have been done in a good and workmanlike manner and in material compliance with the approved plans and specifications, if any, and in accordance with all applicable provisions of Law;
(b) the sum requested is justly required to reimburse Borrower for payments by Borrower to, or is justly due to, the contractor, subcontractors, materialmen, laborers, engineers, architects or other persons rendering services or supplying materials in connection with such Capital Expenditures and Tenant Improvements (giving a brief description of such services and materials), and that when added to all sums previously paid out by Lender, if any, the resulting sum does not exceed the value of the such Capital Expenditures and Tenant Improvements done to the date of such certificate; and
(c) with respect to the certificate of the general partner of Borrower only, the amount of the requested Working Capital Adva...
Working Capital Advances. The Company shall be required to make Working Capital Advances if, at any time, the Loan Proceeds, including funds available in the Collection Account or in any Liquidity Reserve Account or Litigation Reserve Account, are insufficient to pay all costs and expenses incurred by the Company. Without limiting the foregoing, to the extent not paid or reimbursed by a Borrower or Guarantor or available from Loan Proceeds or, if unavailable from either source, from the Liquidity Reserve or Litigation Reserve (to the extent applicable), the Company shall make Working Capital Advances to pay Servicing Expenses, the costs and expenses payable to the Document Custodian pursuant to the Custodial Agreement and Pre-Approved Charges. Working Capital Advances shall be unsecured, and the failure of any amount thereof to be reimbursed shall not in any way increase the Company’s Share. Working Capital Advances shall be payable only out of the assets of the Company and only as and to the extent provided in Section 3.04(a), and the Participant shall have no liability for, and no Person shall have any recourse against the Participant for, any Working Capital Advance or the repayment thereof. Working Capital Advances shall not bear interest.
Working Capital Advances. Sections 2.5 and 8(c) are hereby deleted in their entirety.
Working Capital Advances. Pending Closing, Seller shall exercise reasonable effort to extend working capital advances to Georgia REIT (“Georgia REIT Advances”), subject to Seller having sufficient unrestricted capital to do so. Such Georgia REIT Advances shall constitute the sole consideration for the Acquisition pursuant to the SPA and shall be eliminated on consolidation following consummation of the Acquisition.
