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. 10 ARTICLE II.
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. 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. If the Issuer proposes to enter into any Working Capital Facility, the Issuer shall first offer such Working Capital Facility to each Purchaser prior to entering into such Working Capital Facility with any other Person; provided that the Issuer may solicit proposals for a Working Capital Facility from Persons other than the Purchasers and their respective Affiliates prior to making such offer, but shall not enter into any binding agreement or commitment with such Person. A Purchaser shall be entitled to apportion the right of first offer hereby granted to it in such proportions as it deems appropriate, among (i) itself and (ii) its Affiliates. The Issuer shall give written notice (the “Offer Notice”) to each Purchaser, stating (i) its bona fide intention to enter into a Working Capital Facility, (ii) the amount of such Working Capital Facility, and (iii) the pricing and other material terms customary for a Working Capital Facility. By notification to the Issuer within 15 days after the Offer Notice is given, each Purchaser may elect to provide, on the terms specified in the Offer Notice, its pro rata share of such Working Capital Facility based on the principal amount of all Notes then held by such Purchaser. At the expiration of such 15-day period, the Issuer shall promptly notify each Purchaser that elects to provide all or any portion of such Working Capital Facility (each, an “Exercising Holder”) of any other Purchaser’s (each, a “Declining Holder”) failure to do likewise. During the 5-day period commencing after the Issuer has given such notice, in addition to the portion of Working Capital Facility specified above, each Exercising Holder may, by giving notice to the Issuer, elect to provide any Declining Holder’s portion of such Working Capital Facility (and if more than one Exercising Holder makes such election, such portion to be allocated among such Exercising Holders pro rata based on the principal amount of all Notes then held by each such Exercising Holder). The closing of any Working Capital Facility pursuant to this Section 12.24 shall occur promptly thereafter on such date as is agreed to by the Issuer and the Exercising Holders pursuant to documentation reasonably acceptable to the Issuer and the Exercising Holders. If the Purchasers do not elect to provide the full amount of the proposed Working Capital Facility as provided in this Section, the Issuer may enter into a Working Capital Facility with any other Person (other than a Purchaser o...
Working Capital Facility. Subject to the terms and conditions of this Agreement, each Lender severally agrees to make Advances to the Borrower under the Working Capital Facility from time to time from the date of Amendment No. 3 until the Working Capital Termination Date on a pro rata basis as to the total borrowing requested by the Borrower on any day determined by such Lender's Applicable Commitment Percentage up to but not exceeding the Working Capital Commitment of such Lender; provided, however, that the Lenders will not be required and shall have no obligation to make any such Advance (i) so long as a Default or Event of Default has occurred and is continuing or (ii) if the Agent has accelerated the maturity of any of the Notes as a result of an Event of Default; provided, further, however, that immediately after giving effect to each such Advance, the amount of Working Capital Outstandings shall not exceed the Total Working Capital Commitment; provided, further, that the availability of the Working Capital Facility shall be limited to $2,000,000 on the date of Amendment No. 3 and such availability will increase by $1,000,000 on each one week anniversary thereafter until the Total Working Capital Commitment is available. Within such limits, the Borrower may borrow under the Working Capital Facility on a Business Day from the Closing Date until, but not including, the Working Capital Termination Date. Except as otherwise permitted by the Lenders from time to time, the amount of Working Capital Outstandings shall not exceed at any time the Total Working Capital Commitment, and, in the event there shall be any such excess, the Borrower shall immediately make such payments and prepayments as shall be necessary to comply with this restriction. If the Working Capital Termination Date occurs as a result of subsection (i) of the definition of Working Capital Termination Date and there is availability under the Revolving Credit Facility on such date, the Borrower may repay the Working Capital Outstandings with Revolving Loans to the extent the Total Revolving Credit Commitment exceeds the sum of the Letter of Credit Outstandings, Swing Line Outstandings and Revolving Credit Outstandings, notwithstanding anything in Section 2.3 to the contrary. Advances under the Working Capital Facility may be used for working capital purposes. Amounts may not be reborrowed under the Working Capital Facility once repaid.
(k) A new Section 4.5 is hereby added to Article IV to read as follows:
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. 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. Baht loan or overdraft provided by Working Capital Creditors to the Borrower under the terms and conditions of this Agreement for the aggregate amount of not exceeding Baht 100,000,000 (One Hundred Million Baht) divided into the following type of the facility;
Working Capital Facility. The Borrower shall use the Working Capital Facility as working capital for the Project.
