Working Capital Facility Sample Clauses

Working Capital Facility. You may enter into a Working Capital Loan Facility (defined below) so long as the aggregate outstanding obligations and liabilities thereunder (including advances, bank services, letters of credit, contingent obligations and the like) at no time exceed $2,800,000 upon receipt and review by Us of the final documentation relating to such Working Capital Loan Facility and execution of an intercreditor agreement between Us and the lender under the Working Capital Loan Facility, with terms reasonably acceptable to Us. As used in this Agreement “Working Capital Loan Facility” means a revolving line of credit provided by a bank, commercial lender, or other financial institution or entity regularly engaged in the business of lending money (excluding venture capital, investment banking or similar institutions which sometimes engage in lending activities but which are primarily engaged in investments in equity securities) (each, a “Working Capital Lender”), pursuant to which such Working Capital Lender makes advances based on the value of Your Accounts and/or Inventory and Your obligations thereunder are secured by, and limited to, a security interest in the Accounts, Inventory, other related assets, and the identifiable cash proceeds thereof residing in an associated lockbox deposit account.

Working Capital Facility. On the Closing Date, Shareholder and the Company shall enter into a working capital facility (the "Working Capital Facility") pursuant to which Shareholder agrees to loan to the Company up to $2,871,532. Borrowings under the Working Capital Facility shall be at the request of the Company and subject to the approval of Shareholder. The parties agree that the purpose of the Working Capital Facility is to provide for the Company's working capital needs during the period of time covered by the Working Capital Facility, and that the approval of Shareholder shall not unreasonably be withheld. Borrowings under the Working Capital Facility shall accrue interest from the date of advance at a fixed rate per annum equal to eight percent (8%). The outstanding principal balance under the Working Capital Facility (including all accrued and unpaid interest) shall be due and payable on the date twelve (12) months following the Closing Date and shall be secured by a pledge of certain assets of Purchaser. On the Closing Date, Shareholder shall transfer to the Company $2,000,000 in immediately available funds as an advance on the Closing Date under the Working Capital Facility.

Working Capital Facility. (i) Lenders hereby establish as a portion of the Credit Facility, for the joint and several benefit of Borrowers a working capital facility ("Working Capital Facility") under which Lenders shall make Working Capital Loans and the Term Loan. The aggregate outstanding amount of all Working Capital Loans and the Term Loan shall not exceed $7,800,000 or an amount that would cause the Collateral Coverage Ratio to be lower than the Applicable Coverage Ratio. (ii) At Closing, Borrowers shall execute and deliver their promissory note to each Lender for the total principal amount of such Lender's Pro Rata Percentage of the Working Capital Sublimit (collectively as may be amended, modified or replaced from time to time, the "Working Capital Notes"). The Working Capital Notes shall evidence Borrowers' joint and several, absolute and unconditional obligation to repay such Lender for all Working Capital Loans made by such Lender under the Credit Facility, with interest as herein and therein provided. Each and every Working Capital Loan under the Credit Facility shall be deemed evidenced by the Working Capital Notes, which are deemed incorporated herein by reference and made a part hereof. All Working Capital Notes shall be substantially in the form set forth in Exhibit "2.1(c)(ii)" attached hereto and made a part hereof. (iii) At Closing, Lenders agree to make a Term Loan ("Term Loan") to Borrowers in the principal amount equal to $2,800,000, which shall be repaid in successive quarterly installments in accordance with the terms of the Term Note. The quarterly payments under the Term Loan shall be based on a four-year amortization schedule with each installment due and payable on the last Business Day of each fiscal quarter, commencing on the last Business Day of February, 1998. The Term Loan shall be repaid in full on the earlier of the Maturity Date or the last Business Day of November, 1999 and shall be secured by all of the Collateral. Borrowers shall execute and deliver their promissory note to each Lender for the total principal amount of such Lender's Pro Rata Percentage of the Term Loan(collectively as may be amended, modified or replaced from time to time, the "Term Loan Notes"). The Term Loan Notes shall evidence Borrowers' joint and several, absolute and unconditional obligation to repay such Lender for its Pro Rata Percentage of the Term Loan made by such Lender under the Credit Facility, with interest as herein and therein provided. The Term Loan shall be ...

Working Capital Facility. At the request of ITC, Entergy shall use its reasonable best efforts to cause TransCo to arrange and obtain a working capital revolving credit facility with available credit facilities in a principal amount mutually determined by ITC and Entergy (the “Working Capital Facility”). The terms and conditions of the Working Capital Facility shall be at then prevailing market terms for similar working capital facilities by companies of a size and with a credit rating or profile similar to TransCo’s credit rating or profile, as mutually determined by Entergy and ITC each using their respective commercially reasonable judgment. Entergy shall pay for any initial commitment fees and expenses associated with the Working Capital Facility that are incurred prior to the Effective Time. Without the express written consent of ITC, TransCo shall not draw down on the Working Capital Facility prior to the Effective Time.

Working Capital Facility. 10 ARTICLE II.

Working Capital Facility. NTL CC and the Parent shall ensure that the full amount of the Working Capital Facility is invested by the Parent in the other members of the UK Group on or prior to the time anticipated in the Business Plan by way of Parent Funding.

Working Capital Facility. Solely to the extent the LP Committee determines in good faith that additional funding to the JV is required to (x) respond to an emergency, (y) cure any default under any Indebtedness of the JV or its Subsidiaries or (z) fund quarterly expenses up to one hundred twenty percent (120%) of the pro-rated annual amount set forth in the initial Annual Plans in respect of the 2026 Fiscal Year (with such amounts escalating annually based on the PPI) allocated to such quarter should there be a shortfall in the JV’s or its Subsidiaries’ ability to do so (after taking into account the JV’s and its Subsidiaries’ available cash reserves, which shall be utilized prior to providing additional funding pursuant to the Working Capital Facility), (i) the JV shall be permitted, with Unanimous Approval, to obtain such capital pursuant to a working capital facility of up to $200,000,000, in the aggregate, from a third-party lender and/or (ii) the Keurig Partners, or their respective Affiliates, shall be permitted, in their good faith discretion, to make additional capital available to the JV pursuant to a working capital facility available to be drawn up to $200,000,000 in the aggregate over the life of the investment (the “Working Capital Facility”). Co-Investor Limited Partner shall have the right to participate alongside any Keurig Partner or its Affiliates, as applicable, in funding such Working Capital Facility on a pro rata basis based on their relative Class A Units and Class B Units; provided, however, that in the event that Co-Investor Limited Partner elects to participate in such Working Capital Facility, the Keurig Partners and the Co-Investor Limited Partner shall negotiate in good faith to agree upon minority protections for the Co-Investor Limited Partner to be included in the documentation governing such Working Capital Facility (it being acknowledged and agreed that such Working Capital Facility shall not permit the relevant Keurig Partners to take any actions thereunder that would disproportionately and adversely affect the Co-Investor Limited Partner); provided, further, that if the parties are unable to reach agreement on such minority protections within five (5) Business Days, then the relevant Keurig Partner shall be permitted to proceed with such Working Capital Facility without the Co-Investor Limited Partner’s participation. Notwithstanding the foregoing, there shall not be a cap on any funding required pursuant to sub-clause (z) of the first sentence o...

Working Capital Facility. Iconic shall provide working capital, from time to time, of up to $750,000.00 pursuant to a Working Capital Facility to the Company, which shall be repaid by the Company from working capital generated from Company’s operations. Provided that, in the event that Iconic fails to provide working capital of at least $40,000.00 per month, and such failure shall continue for a period of sixty (60) calendar days thereafter (“Cure Period”) then the Company may, at its option, by written notice to Iconic, declare a default. In the event of such default, Iconic shall surrender the Majority Interest back to the Company for retirement and the Holders of the Series C Preferred Stock shall surrender all outstanding shares of Preferred Stock back to Iconic for retirement (“Unwind”). At the time of the Unwind, the Company shall issue a 5% promissory note to Iconic (“Promissory Note”) with a principal amount equal to the then outstanding unpaid balance of the Working Capital Facility advanced to the Company prior to the Unwind, payable upon the acquisition of the majority of the outstanding stock or assets of the Company, including but not limited to the BiVi Brand of products, by a third party, but in no event later than 36 months from issuance (“Maturity Date”).

Working Capital Facility. Dowa agrees to advance a new working capital loan facility for the benefit of the LGJV for a maximum aggregate principal amount of $60,000,000 (the “Working Capital Facility”) on terms and conditions satisfactory to each of Dowa and the Borrowers, each in its sole discretion. Additional terms of the Working Capital Facility will include the following: