Permitted Working Capital definition

Permitted Working Capital. Refinancing”); provided that (A) the aggregate principal amount of such Debt does not exceed the sum of (1) the aggregate amount of the Working Capital Commitments immediately prior to such refinancing plus (2) an amount, when taken together with any Debt outstanding pursuant to Section 7.02(b)(v), not to exceed $100,000,000 plus (3) the amount of any accrued and unpaid interest in respect of such outstanding principal amount plus (4) the amount of any reasonable fees and expenses incurred in connection with such Refinancing, (B) the lenders (or agents on behalf of the lenders) of such Debt have become a party to the Intercreditor Agreement as, and have the obligations of, the First Lien Secured Parties or the Second Lien Secured Parties thereunder, (C) the maturity date of such Debt is no earlier than the Termination Date, (D) such Permitted Working Capital Refinancing shall only be secured by the Liens created by the Collateral Documents or the Second Lien Collateral Documents, and (E) to the extent that the aggregate principal amount of such Debt exceeds the sum of the aggregate principal amount of the Working Capital Commitments immediately prior to such refinancing plus the amount of any accrued and unpaid interest in respect of such outstanding principal amount the amount of any reasonable fees and expenses incurred in connection with such Refinancing, the Borrower shall have received a Ratings Reaffirmation; and
Sample 1
Permitted Working Capital means any amounts that the Managing Member reasonably determines are necessary to meet current expenses of the Company, provided that, without the prior written approval of GECUSH from the date hereof to and including the Complete Indemnification Satisfaction Date, such amounts shall not exceed $100,000 in the aggregate.
Sample 1
Permitted Working Capital means any amounts that the Managing Member reasonably determines are necessary to meet current expenses of the Company, provided that, without the prior written approval of Memco with respect to periods ending prior to or including the Indemnification Satisfaction Date, such amounts shall not exceed $100,000 in the aggregate.
Sample 1

Examples of Permitted Working Capital in a sentence

  • The Permitted Working Capital Debt may be secured against the Collateral provided that the security thereunder is expressly subordinated to the security provided under the Security Agreements pursuant to an intercreditor agreement between the Persons extending such Indebtedness and the Buyer providing for such subordination and other customary provisions, all in form and substance satisfactory to the Buyer (any such security, and the “Permitted Working Capital Security”).

  • The proceeds of the Initial Term Loans will be used to refinance the Existing Specified Indebtedness with any excess for working capital, Permitted Acquisitions, permitted capital expenditures, other general corporate purposes and to pay fees and expenses incurred in connection with this Agreement and the amendment to the Permitted Working Capital Facility of even date herewith.

  • No Credit Party shall, nor shall it permit any of its Subsidiaries to amend, waive or otherwise change the terms of the Permitted Working Capital Facility, except in accordance with the terms of the Working Capital Intercreditor Agreement; provided, that the Credit Parties shall not be permitted to amend the Permitted Working Capital Facility in a manner that materially and adversely affects the Credit Parties or the Lenders.

  • On the Closing Date, Company and its Subsidiaries shall have delivered to Collateral Agent and Administrative Agent all documents or instruments necessary to release all Liens, if any, securing such Indebtedness, except Liens pursuant to the Permitted Working Capital Facility, the First-Lien Term Loan and the Second-Lien Term Loan.

  • On the Closing Date, Company and its Subsidiaries shall have repaid in full all Indebtedness, if any, described in clauses (i) and (iii) of the definition of such term, excluding the Permitted Working Capital Facility, the First-Lien Term Loan and the Second-Lien Term Loan.

  • The Company shall, at any time that Chattel Paper and Receivables are not pledged to a Permitted Working Capital Financier, legend, in form and manner reasonably satisfactory to the Collateral Agent, all Chattel Paper and Receivables Records with an appropriate reference to the fact that the Chattel Paper and all other Receivables have been assigned to the Collateral Agent for the benefit of the Secured Parties and that the Collateral Agent has a security interest therein.

  • The Loan Parties shall as promptly as reasonably practicable, but in any event on or prior to October 1, 2023, incur a Permitted Working Capital Facility in an aggregate amount at least equal to $100,000,000.

  • On the Closing Date, Company and its Subsidiaries shall have repaid in full all Indebtedness, if any, described in clauses (i) and (iii) of the definition of such term, excluding the Permitted Working Capital Facility and the Junior-Lien Term Loans.

  • As soon as practicable following the establishment of the Investment Accounts and the Working Capital Account, the Company will deposit all cash and investments, whether or not cash equivalents, held by it, reduced by the amount of Permitted Working Capital, 82% in the PTLC Account and 18% in the PAG Account.

  • No Loan Party shall open a deposit account or securities account other than any Permitted Working Capital Facility Account, or change the account number of any Collateral Account, without first obtaining a Control Agreement in respect of such account in favor of the Collateral Agent.


More Definitions of Permitted Working Capital

Permitted Working Capital means any amounts that the Managing Member reasonably determines are necessary to meet current expenses of the Company, provided that such amounts shall not exceed $100,000 in the aggregate.
Sample 1

Related to Permitted Working Capital

  • Adjusted Working Capital means the remainder of (a) the consolidated current assets of the Obligors minus the amount of cash and cash equivalents included in such consolidated current assets, minus (b) the consolidated current liabilities of the Obligors minus the amount of consolidated short-term Debt (including current maturities of long-term Debt) of the Obligors included in such consolidated current liabilities.

  • Working Capital means, with respect to the Borrower and the Subsidiaries on a consolidated basis at any date of determination, Current Assets at such date of determination minus Current Liabilities at such date of determination; provided, that, for purposes of calculating Excess Cash Flow, increases or decreases in Working Capital shall be calculated without regard to any changes in Current Assets or Current Liabilities as a result of (a) any reclassification in accordance with GAAP of assets or liabilities, as applicable, between current and noncurrent or (b) the effects of purchase accounting.

  • Consolidated Working Capital means, as at any date of determination, the excess of Consolidated Current Assets over Consolidated Current Liabilities.

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

  • Net Working Capital means current assets minus current liabilities.

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

  • Target Working Capital means $0.

  • Estimated Working Capital has the meaning set forth in Section 2.3(a).

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

  • Target Net Working Capital means $0.

  • Closing Net Working Capital means Net Working Capital as of the Adjustment Calculation Time.

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

  • Working Capital Assets means the current assets of the Company as of the Effective Time (including all Cash and Cash Equivalents), determined in accordance with Accounting Principles but excluding any Tax assets.

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

  • Permitted Acquisitions means Investments consisting of an Acquisition by the Parent or any Subsidiary, in each case, other than Private Label Credit Card Expenditures, provided that (i) no Default shall have occurred and be continuing or would result from such Acquisition, (ii) the property acquired (or the property of the Person acquired) in such Acquisition is used or useful in the same or a similar, related or complementary line of business as the Parent and its Subsidiaries were engaged in on the Closing Date (or any reasonable extensions or expansions thereof), (iii) the Administrative Agent shall have received all items in respect of the Equity Interests acquired in such Acquisition required to be delivered by the terms of Section 7.12 and/or Section 7.13, (iv) in the case of an Acquisition of the Equity Interests of another Person, the board of directors (or other comparable governing body) of such other Person shall have duly approved such Acquisition, (v) the Parent shall have delivered to the Administrative Agent a Pro Forma Compliance Certificate demonstrating that, upon giving effect to such Acquisition on a Pro Forma Basis, the Loan Parties would be in compliance with the financial covenants set forth in Section 8.11 as of the most recent fiscal quarter for which the Parent was required to deliver financial statements pursuant to Section 7.01(a) or (b), (vi) if the total aggregate consideration paid for such Acquisition equals or exceeds $100,000,000, the Parent shall have delivered to the Administrative Agent pro forma financial statements for the Parent and its Subsidiaries after giving effect to such Acquisition for the twelve month period ending as of the most recent fiscal quarter in a form satisfactory to the Administrative Agent, and (vii) the representations and warranties made by the Loan Parties in each Loan Document shall be true and correct in all material respects at and as if made as of the date of such Acquisition (after giving effect thereto) except to the extent such representations and warranties expressly relate to an earlier date.

  • Working Capital Units shall have the meaning given in the Recitals hereto.

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

  • Adjusted Consolidated Working Capital means, at any time, Consolidated Current Assets (but excluding therefrom all cash and Cash Equivalents) less Consolidated Current Liabilities at such time.

  • Estimated Net Working Capital shall have the meaning set forth in Section 2.3(a).

  • Net Working Capital Target means $0.00.

  • Closing Date Net Working Capital means the Net Working Capital as of the Closing Date.

  • Final Closing Working Capital has the meaning set forth in Section 2.5(d).

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

  • Consolidated Working Capital Adjustment means, for any period on a consolidated basis, the amount (which may be a negative number) by which Consolidated Working Capital as of the beginning of such period exceeds (or is less than) Consolidated Working Capital as of the end of such period.

  • Working Capital Target means $0.