Working Capital Reserve. Twenty Thousand Dollars ($20,000) of Working Capital reserve shall be maintained by Manager in the Disbursement Account during the term hereof, used in connection with the operation of the Project in accordance with the terms hereof and restored per the terms of Sections 4.03 hereof.
Working Capital Reserve. On the Closing Date, the Initial Member and the Private Owner shall fund, as Capital Contributions to the Company, the Working Capital Reserve Account in accordance with the provisions of Section 12.11 hereof and Section 1 of the Transferred LLC Interest Sale Agreement, which funds shall be used for payment of Working Capital Expenses in accordance with the provisions in such Section 12.11 and as otherwise permitted pursuant to the Custodial and Paying Agency Agreement.
Working Capital Reserve. The Managing General Partner shall have the right to cause the Partnership to set up a Working Capital Reserve and to set aside therein such funds as the Managing General Partner, in its sole and absolute discretion, shall determine to be reasonable in connection with the operation of the business of the Partnership. Any funds set aside for such Working Capital Reserve may be invested by the Managing General Partner with a view to the appropriate degree of safety of and return on such invested funds, and such funds shall not be available for current distribution under Section 6.5; provided, however, that some or all of such funds may subsequently be made available for distribution pursuant to Section 6.5 should the Managing General Partner, in its sole and absolute discretion, so elect. The Working Capital Reserve established and maintained pursuant to this Section 7.5 shall be in addition to any reserves established and maintained by the Managing General Partner to implement the Successor Policy pursuant to Section 8.6.
Working Capital Reserve. A reasonable working capital reserve for ----------------------- each Project, as determined by Owner in its sole discretion, shall be delivered by Owner to Manager concurrently with Owner's execution and delivery hereof, to be maintained by Manager during the term hereof, used in connection with the operation of the Project in accordance with the terms hereof, and restored per the terms of Sections 4.4 and 4.5 hereof.
Working Capital Reserve. 8.5.1 On the date hereof, Borrower shall deposit with Lender the sum set forth on Exhibit K hereto as the Working Capital Reserve to be held in an account maintained at a bank designated by Lender and pledged to Lender as additional collateral for the Loan (the "Working Capital Reserve Account"). The Working Capital Reserve Account shall be an interest-bearing account and all interest earned thereon shall become part of the Working Capital Reserve Account for the benefit of Borrower.
8.5.2 Provided that no Event of Default shall then exist and be continuing, if, on any Payment Date, (a) the amount then on deposit in the Tax and Insurance Impound Account (as defined in the Cash Management Agreement) shall be less than the amount required to be deposited in the Tax and Insurance Escrow Account on such Payment Date in accordance with Section 8.1 hereof, (b) the amount then on deposit in the Replacement Escrow Fund Subaccount (as defined in the Cash Management Agreement) shall be less than the amount required to be deposited in the Replacement Reserve Account on such Payment Date in accordance with Section 8.2 hereof, or (c) the amount then on deposit in the Operating Expense Subaccount (as defined in the Cash Management Agreement) shall be less than the Budgeted Expenses (as defined in the Cash Management Agreement) for the month in which such Payment Date shall occur, Lender shall disburse the amount of any such deficiency from the Working Capital Reserve Account and deposit such amount on the Payment Date to the account or accounts in which such deficiency shall exist in the order set forth above.
8.5.3 In addition, provided that no Event of Default shall exist hereunder and be continuing, Lender shall disburse funds from the Working Capital Reserve Account to Borrower to pay the costs of Operating Expenses incurred by Borrower in any period in excess of the Budgeted Expenses for such period. Such disbursements shall be made within ten (10) Business Days after receipt of (i) a request by Borrower describing the Operating Expenses for which such disbursement is requested and the amount sought, (ii) the Financial Statements required hereunder for such period and (iii) invoices, receipts and/or other evidence reasonably satisfactory to Lender evidencing that such Operating Expenses are payable. Lender shall not be obligated to make disbursements from the Working Capital Reserve Account under this Section 8.5.3 more frequently than once in any calendar month th...
Working Capital Reserve. The Managing Members shall use their best efforts to maintain a working capital reserve of two percent (2%) of the aggregate Adjusted Capital Contributions and to restore such reserve if depleted.
Working Capital Reserve. The Partnership shall establish a reserve (the "Working Capital Reserve") in the amount of $218,000.00 at Initial Closing. The First Priority Lender shall hold the Working Capital Reserve on behalf of the Partnership. With the consent of the First Priority Lender and Notice to AHF, the Wichita GP may make withdrawals from the Working Capital Reserve solely for the purpose of paying the costs permitted under the Escrow Agreement for Working Capital between the First Priority Lender and the Partnership executed in connection with the First Priority Loan. Upon release by the First Priority Lender, any balance in the Working Capital Reserve shall be distributed as Net Cash Flow pursuant to Section 9.1 of this Agreement.
Working Capital Reserve. At Loan closing, Borrower shall deposit $5,000,000.00 into a custodial account in the name of Borrower held with Lender or other national bank designated by Lender which shall be reserved strictly for hedging purposes and as provided in this Section 4.05, and Borrower shall be required to provide sufficient evidence of use acceptable to Lender prior to any funding from such working capital reserve. The balance of any loan or contingent grant by the Iowa Department of Economic Development to Borrower will be reserved against the amount of this working capital reserve account and Borrower will not have access to such funds to this extent.
Working Capital Reserve. At any time and from time to time, the Managers may establish and maintain a reserve of working capital (the “Working Capital Reserve”). If and to the extent the Managers determine that funds in the Working Capital Reserve that have not been utilized by the Company are no longer required to be so maintained, such funds will be released from the Working Capital Reserve and treated as Distributable Cash.
Working Capital Reserve. From time to time, the General Partner, using reasonable business judgment, may establish and maintain a Working Capital Reserve (herein so called). If and to the extent the General Partner determines that funds in the Working Capital Reserve that have not been utilized by the Partnership are no longer required to be so maintained, such funds shall be released from the Working Capital Reserve and distributed in the manner in which they would have been distributed had they not been set aside to fund such Working Capital Reserve. The General Partner shall determine, in its reasonable discretion, the periods to which any funds released from the Working Capital Reserve are attributable.
