Working Capital Account Agreement definition

Working Capital Account Agreement means, collectively, (a) each of the agreements among Borrower, Operating Company, Collateral Agent and a Working Capital Bank set forth on Schedule IV attached hereto and (b) any agreement entered into by Borrower, Operating Company, Lender and any replacement Working Capital Bank, in each case as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time.
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Working Capital Account Agreement means that certain Control Account Agreement dated as of the Original Closing Date by and among Xxxxxxxx, Administrative Agent, for the benefit of Lenders and Working Capital Bank.
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Working Capital Account Agreement shall have the meaning ascribed to such term in the Senior Loan Agreement.
Sample 1

Examples of Working Capital Account Agreement in a sentence

  • Upon the occurrence and during the continuance of an Event of Default, Borrower shall no longer have any right to withdraw Working Capital Funds from the Working Capital Account, as further set forth in the Working Capital Account Agreement, and Administrative Agent may apply any Working Capital Funds on deposit in the Working Capital Account to the payment of the Debt in such order, proportion and priority as Administrative Agent may determine in its sole and absolute discretion.

  • Interest accrued, if any, on the Working Capital Funds shall become part of the Working Capital Funds in accordance with the applicable terms and conditions of the Working Capital Account Agreement.

  • At or prior to the Closing Date, Borrower shall establish and maintain the Working Capital Account as a segregated Eligible Account pursuant to the terms of the Working Capital Account Agreement with the Working Capital Bank, which such Working Capital Account shall be in trust for the benefit of Lenders and shall be under the sole dominion and control of Borrower prior to an Event of Default and thereafter, Administrative Agent, for the benefit of Lenders.

  • Until such time, if any, as the amount set forth in clause (i) above is deposited into the Collection Account, all payments received on or with respect to such Financed Student Loan shall remain an asset of the Trust.

  • The following section is the PayPal Working Capital Account Agreement between WebBank, member FDIC, and the Borrower, which sets forth the terms and conditions of the PayPal Working Capital Account.

  • Claims include, but are not limited to: • Federal and state statutory claims, common law claims, and those based in contract, tort, fraud, misrepresentation or any other legal theory; • Claims or disputes that arose before the effective date of the PayPal Working Capital Account Agreement (including, but not limited to, claims relating to advertising, promotions, or disclosures); and • Claims or disputes that may arise after the termination of the PayPal Working Capital Account Agreement.

  • With regards to the language, 72.2 % responded in Sinhala, 22.7 % in Tamil, and 5 % in English.

  • Such Purchaser represents that it is familiar with Rule 144, as presently in effect, and understands the resale limitations imposed thereon by the Securities Act and will not be able to resell or otherwise transfer such Securities unless they are registered under the Securities Act and registered or qualified under applicable state securities laws, or an exemption from such registration or qualification is available.

  • Interest accrued, if any, on the Working Capital Funds shall become part of the Working Capital Funds in accordance with the applicable terms and conditions of the Working Capital Account Agreement (as defined in the Senior Loan Agreement).

  • Prior to the Original Closing Date, Xxxxxxxx established, has maintained and shall maintain the Working Capital Account as a segregated Eligible Account pursuant to the terms of the Working Capital Account Agreement with the Working Capital Bank, which such Working Capital Account shall be in trust for the benefit of Lenders and shall be under the sole dominion and control of Borrower prior to an Event of Default and thereafter, Administrative Agent, for the benefit of Lenders.

Related to Working Capital Account Agreement

  • Book Capital Account means, for any Holder at any time, the Book Capital Account of the Holder for such day, determined in accordance with Section 8.1 hereof.

  • Capital Account Limitation has the meaning provided in Section 4.5(b) hereof.

  • Target Capital Account means the Capital Account of a Member as of the end of each fiscal year, increased by any amount that such Member is obligated to restore under this Agreement, is treated as obligated to restore under Treasury Regulations Section 1.704-1(b)(2)(ii)(c), or is deemed obligated to restore under the penultimate sentences of Treasury Regulations Section 1.704-2(g)(1) and (i)(5).

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

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

  • Capital Accounts An individual capital account shall be maintained for each Partner, and capital contributions to the Partnership by the Partners shall be credited to such accounts. Partnership profits or losses shall also be charged or credited to the separate capital accounts in the manner provided in this Agreement. No interest shall be paid on the capital account of any Partner.

  • Economic Capital Account Balances has the meaning set forth in Section 6.1.E.

  • Working Capital Adjustment Amount means an amount, which may be positive or negative, calculated in accordance with Schedule C, equal to the difference of (a) the Closing Date Adjusted Working Capital minus (b) the Preliminary Adjusted Working Capital.

  • 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.

  • Economic Capital Account Balance has the meaning provided in Section 5.1(e) hereof.

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

  • Capital Account Distribution Date and "Income Account Distribution Date" shall mean the "Distribution Dates" set forth in the "Essential Information" in the Prospectus.

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

  • Adjusted Capital Account means the Capital Account maintained for each Partner as of the end of each Fiscal Year (i) increased by any amounts which such Partner is obligated to restore pursuant to any provision of this Agreement or is deemed to be obligated to restore pursuant to the penultimate sentences of Regulations Sections 1.704-2(g)(1) and 1.704-2(i)(5) and (ii) decreased by the items described in Regulations Sections 1.704-1(b)(2)(ii)(d)(4), 1.704-1(b)(2)(ii)(d)(5) and 1.704-1(b)(2)(ii)(d)(6). The foregoing definition of Adjusted Capital Account is intended to comply with the provisions of Regulations Section 1.704-1(b)(2)(ii)(d) and shall be interpreted consistently therewith.

  • Specified Reserve Account Balance means, for any Payment Date, an amount equal to 2.00% of the Pool Balance as of the Cut-Off Date; provided, however, on any Payment Date after the Notes are no longer Outstanding following payment in full of the principal and interest on the Notes, the “Specified Reserve Account Balance” shall be $0.

  • Working Capital Target means $0.

  • Adjusted Capital Account Deficit means, with respect to any Member, the deficit balance, if any, in such Member’s Capital Account as of the end of the relevant Fiscal Year, after giving effect to the following adjustments:

  • 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.

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

  • 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 Surplus means the amount by which the Working Capital is greater than the Target Working Capital Amount.

  • 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).

  • Working Capital Amount means the difference between (x) the total current assets of the Company and its Subsidiaries and (y) the total current liabilities (other than the New Company Debt, the Existing Company Debt and Deal Expenses) of the Company and its Subsidiaries (in each case calculated in accordance with GAAP immediately prior to the Effective Time and after giving effect to the Contribution, the Distribution and the disposition of cash and cash equivalents contemplated by Section 6.24).

  • Net Working Capital Target means $0.00.

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