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.
Appears in 10 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Interest Sale and Assignment Agreement
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 and Permitted Vertical Completion Expenses in accordance with the provisions in such Section 12.11 and as otherwise permitted pursuant to the Custodial and Paying Agency Agreement.
Appears in 3 contracts
Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement
