Working Capital Loans Sample Clauses

Working Capital Loans. Subject to the terms and conditions set forth herein, each Working Capital Bank severally agrees to make loans (each such loan, a “Working Capital Loan”) to the Co-Borrowers from time to time, on any Business Day during the Working Capital Availability Period, in an aggregate amount not to exceed at any time outstanding the amount of such Working Capital Bank’s Working Capital Commitment; provided, however, that after giving effect to any Borrowing: (i) the aggregate amount of Working Capital Loans plus the Effective Amount of all L/C Obligations shall not exceed the lesser of (i) the aggregate Working Capital Commitments of the Banks, or, if a Defaulting Bank exists hereunder, the Total Available Working Capital Commitments and (ii) the Borrowing Base Advance Cap determined as of the date of such request on the basis of the Collateral Position Report most recently received by the Agent pursuant to Section 7.02(b) two (2) Business Days prior to the date on which the requested Working Capital Loans are to be made, (ii) the aggregate Effective Amount of Working Capital Loans of any Bank, plus such Bank’s Working Capital Percentage of the Effective Amount of all L/C Obligations shall not exceed such Bank’s Working Capital Commitment, and (iii) the amount of such Working Capital Loan, plus the Effective Amount of all Working Capital Loans made for the purpose described in the applicable Advance Sub-limit Cap shall not exceed the applicable Advance Sub-limit Cap. Within the limits of each Bank’s Commitment, and subject to the other terms and conditions hereof, the Co-Borrowers’ ability to obtain Working Capital Loans shall be fully revolving, and accordingly the Co-Borrowers may borrow under this Section 2.01(a), prepay under Section 2.06, and re-borrow under this Section 2.01(a). Working Capital Loans may be Base Rate Loans, COF Rate Loans or Eurodollar Rate Loans, as further provided herein.

Working Capital Loans. The Sponsor has made loans to the Company in the aggregate amount of up to $300,000 (the “Insider Loans”) pursuant to a promissory note substantially in the form filed as an exhibit to the Registration Statement. The Insider Loans do not bear any interest and are repayable by the Company on the earlier of December 31, 2021 and the consummation of the Offering.

Working Capital Loans. (a) Each Senior Lender, severally and not jointly, shall make Working Capital Loans to the Borrower during the period from the Closing Date to but excluding the Termination Date, in an aggregate principal amount not in excess of such Senior Lender’s Commitment. In no event shall the Borrower be entitled to request or receive any Working Capital Loan that would cause (i) the sum of (A) the outstanding principal amount of all Working Capital Loans and Swing Line Loans and (B) the Working Capital LC Exposure to exceed the Working Capital Sublimit or (ii) the sum of (A) the outstanding principal amount of all Working Capital Loans and Swing Line Loans and (B) without duplication, the LC Exposure to exceed the Total Commitment. (b) Each Working Capital Loan Borrowing shall be in an amount specified in a Borrowing Notice delivered pursuant to Section 2.02 (Notice of Working Capital Loan Borrowings). (c) Proceeds of the Working Capital Loans shall be deposited into the Operating Account. Funds so deposited will be disbursed in accordance with the Accounts Agreement. (d) Working Capital Loans repaid or prepaid may be re-borrowed at any time and from time to time to but excluding the Termination Date. Each Senior Lender’s Commitment shall expire on the Termination Date and all Working Capital Loans and all other amounts owed hereunder with respect to Working Capital Loans and the Commitments shall be paid in full no later than such date.

Working Capital Loans. Ormat, or any Affiliate of Ormat, may make (but will have no obligation to make) loans to the Company or any Project Company, when and as needed (as determined by the Managing Member and without any requirement for consent or other action by any Class B Member), sufficient to cover working capital, maintenance and other similar expenditure needs of the Company or any of the Project Companies in an aggregate principal amount outstanding at any time not to exceed $5 million for the Company and all Project Companies, combined (any such loan, a “Working Capital Loan”). All Working Capital Loans shall be unsecured and repaid out of available cash flow of the Company (if the Company is the borrower) or the relevant Project Company (if such Project Company is the borrower) before any distributions of Distributable Cash to members of such entity. Any Working Capital Loans made by Ormat or an Affiliate of Ormat shall (a) be evidenced by a note substantially in form of Exhibit F hereto and (b) otherwise be on terms equivalent in all material respects to loans that would be available from a third party lender that is not an Affiliate of Ormat.

Working Capital Loans. As part of the services provided by Apple hereunder, Apple may make available loans to assist the Orthodontic Entity in maintaining reasonable cash flow for the payment of Excluded Orthodontic Entity and Orthodontist Expenses.

Working Capital Loans. The obligation of the Lenders to make Working Capital Loans is subject to the fulfillment, on and as of the date of any such Borrowing, to the satisfaction of or waiver by the Administrative Agent, of the following: (a) the Financial Closing Date shall have occurred; (b) each Lender shall have received a Working Capital Note payable to such Lender in the amount of such Lender's Working Capital Loan Commitment, duly executed by the Borrower and otherwise complying with the provisions of Section 2.04; (c) the Administrative Agent shall have received a certificate in form and substance satisfactory to the Administrative Agent from a Responsible Officer of the Borrower setting forth the Operating Expenses, Capital Expenditures, and Debt Service that will be funded by the requested Borrowing of Working Capital Loans; (d) no Default or Event of Default shall have occurred and be continuing (other than any such Default or Event of Default that would be cured as a result of such Borrowing); (e) the Administrative Agent shall have received a certificate in form and substance satisfactory to the Administrative Agent from a Responsible Officer of the Borrower that no action, event, or circumstance shall have occurred and be continuing that could reasonably be expected to have a Material Adverse Effect; (f) all representations and warranties of the Borrower contained in the Loan Documents shall be true, correct, and complete in all material respects on and as of the date of such Borrowing with the same effect as though made on and as of such date except to the extent such representations and warranties expressly relate to an earlier date; (g) the Administrative Agent shall have received a certificate in form and substance satisfactory to the Administrative Agent from a Responsible Officer of the Borrower that (i) the Borrower has provided to the Administrative Agent copies of each Additional Contract, if any, and the Ancillary Documents relating thereto, each of which (A) shall have been duly authorized, executed, and delivered by the Borrower and, to the Borrower's knowledge, by each other Person party thereto and (B) shall be in full force and effect, and (ii) Schedule 4.10 has been amended to include each such Additional Contract; (h) copies of all Governmental Approvals obtained and all applications and filings for Governmental Approvals made by the Borrower since the later of the Financial Closing Date and the last Borrowing shall have been made available to the ...

Working Capital Loans. 20 Section 6.4

Working Capital Loans. (a) The Management Committee may from time to time, but not more frequently than once in any calendar month, request each Member to make a working capital loan (each a “Working Capital Loan”) to the Company. Such request shall specify the amount requested, the date such Working Capital Loan shall be made and the Entity or account (which may be an account maintained by the Company) to which the proceeds thereof shall be paid, and shall further state that the proceeds of the Working Capital Loan will be utilized to pay only authorized expenses of the Company. Upon the receipt of an authorized request for a Working Capital Loan, each Member may, but shall not be obligated to, fund their respective portions of such Working Capital Loan pro rata with their respective Membership Interests. Should any Member decline to fund its portion of a request for a Working Capital Loan, then the Members funding their respective portions of the Working Capital Loan shall have the right, but not the obligation, to fund the non-funding Member’s portion of the Working Capital Loan on a pro rata basis in accordance with their Membership Percentages (or in such other amounts as such Members may determine). (b) Interest shall accrue on the outstanding principal balance of the Working Capital Loans at a variable rate per annum equal to London Interbank Offered Rate (“LIBOR”) in effect from time to time, plus 300 basis points. The initial interest rate shall be based on LIBOR in effect on the first banking day of the month in which such Working Capital Loan is requested. Any change in the interest rate for Working Capital Loans resulting from a change in LIBOR shall be effective on the first banking day of the first month following the month in which such change occurs. Interest on Working Capital Loans shall be compounded monthly. Interest and principal on Working Capital Loans shall be payable out of available net cash flow of the Company on the first banking day of each month prior to any payments of principal and interest in respect of Development Loans and to any distributions to Members. After payment of all interest then due on outstanding Working Capital Loans, remaining available net cash flow shall be applied to repay the outstanding principal amount of Working Capital Loans.

Working Capital Loans. Each Working Capital Lender severally agrees to make loans (each such loan, a “Working Capital Loan”) to Borrower, from time to time on any Business Day during the Working Capital Availability Period, in an aggregate outstanding amount not to exceed at any time such Lender’s Working Capital Commitment, provided that, after giving effect to any Working Capital Borrowing: (i) the Total Working Capital Outstandings shall not exceed Working Capital Availability; and (ii) the aggregate Outstanding Amount of the Working Capital Loans of any Working Capital Lender, plus such Lender’s Working Capital Percentage Share multiplied by the Outstanding Amount of all L/C Obligations. Within the limits of each Working Capital Lender’s Working Capital Commitment, and subject to the other terms and conditions hereof, Borrower may borrow under this Section 2.01, prepay under Section 2.05, and reborrow under this Section 2.01. Working Capital Loans may be Base Rate Loans or Eurodollar Rate Loans, as further provided herein.