Grantor Working Capital Reserve Agreement definition

Grantor Working Capital Reserve Agreement means the Agreement between the Grantor and the Developer dated as of Early Financial Close under which the Grantor agrees to provide a working capital facility to the Developer of up to [AMOUNT AND CURRENCY] from Early Financial Close and up to [AMOUNT AND CURRENCY] from Financial Close 1A on terms which are subordinated by the Intercreditor Agreement to the rights of the Lenders under the Financing Agreements;
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Grantor Working Capital Reserve Agreement means the Agreement between the Grantor and the Developer dated as of Early Financial Close under which the Grantor agrees to provide a working capital facility to the Developer of up to US$3,500,000 from Early Financial Close and up to US$10,000,000 from Financial Close 1A on terms which are subordinated by the Subordination Agreement to the rights of the Lenders under the Financing Agreements and which shall be terminated on or about the Financial Close 1B;
Sample 1Sample 2
Grantor Working Capital Reserve Agreement means the Agreement between the Grantor and the Developer dated as of Early Financial Close under which the Grantor agrees to provide a working capital facility to the Developer of up to US$3,500,000 from Early Financial Close and up to US$10,000,000 from Financial Close 1A on terms which are subordinated by the Intercreditor Agreement to the rights of the Lenders under the Financing Agreements;
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Examples of Grantor Working Capital Reserve Agreement in a sentence

  • Should a payment of a loan under the GPD Loan Agreement or the Grantor Working Capital Reserve Agreement be delayed, the Developer shall have the right to suspend the Construction Works for so long as the payment remains outstanding, after providing five (5) Business Days prior written notice.

Related to Grantor Working Capital Reserve Agreement

  • Working Capital Reserve means a cash reserve held in the Operating Account that is readily available to Manager during the Term to finance the services, repairs and maintenance described in Section 5.2 including Minor Capital Expenditures and Major Capital Expenditures, insurance premiums for the Property described in Section 9.1, and utilities for the Property, in such amounts as determined by the Owner in its sole discretion.

  • Working Capital Facility means, at any time, the aggregate amount of the Working Capital Lenders' Working Capital Commitments at such time.

  • Working Capital Advance has the meaning specified in Section 2.01(a).

  • Working Capital Escrow Amount means $2,000,000.

  • Base Working Capital means $25,000,000.

  • Working Capital Loan has the meaning specified in Section 2.1(c).

  • Working Capital Lender means any Lender that has a Working Capital Commitment.

  • Closing Date Working Capital has the meaning specified in Section 2.3(b).

  • Actual Working Capital has the meaning set forth in Section 2.7(a).

  • Net Working Capital means, at any time, Consolidated Current Assets at such time minus Consolidated Current Liabilities at such time.

  • Capital Reserve Fund means the reserve fund created and established by the Authority in

  • Working Capital Loans means any loan made to Acquiror by any of the Sponsor, an Affiliate of the Sponsor, or any of Acquiror’s officers or directors, and evidenced by a promissory note, for the purpose of financing costs incurred in connection with a Business Combination.

  • Working Capital Deficit means the amount, if any, by which the Closing Working Capital is less than the Target Working Capital.

  • Closing Working Capital means: (a) the Current Assets of the Company, less (b) the Current Liabilities of the Company, determined as of the open of business on the Closing Date.

  • Final Net Working Capital shall have the meaning set forth in Section 2.3(b)(ii).

  • Closing Net Working Capital has the meaning set forth in Section 2.6(a).

  • Net Working Capital Amount means, with respect to a Participating McNeil Partnership, the excess of the Positive Excess Cash Balance of such Participating McNeil Partnership over the cash on hand of such Participating McNeil Partnership immediately prior to the Effective Time.

  • Net Working Capital Adjustment Amount means an amount (which may be a positive or negative number) equal to (a) the Closing Date Net Working Capital minus (b) the Target Net Working Capital.

  • Net Working Capital Target means $0.00.

  • Capital Reserve means for any period and with respect to a Property (other than any Projects Under Development), an amount equal to the product of (i) the gross leaseable area contained in such Property (in square feet), multiplied by (ii) $0.30 per annum.

  • Final Working Capital has the meaning set forth in Section 2.04(b).

  • Requisite Reserve Amount As of any date with respect to any Series (or Class within such Series), the amount, if any, required to be maintained in the Reserve Account, if any, for such Series or Class as specified in or determined pursuant to the related Supplement.

  • Closing Date Net Working Capital shall have the meaning set forth in Section 2.03(c).

  • Working Capital Target means $0.

  • Final Closing Net Working Capital has the meaning set forth in Section 2.6(c).

  • Target Working Capital means $0.