Working capital funds definition
Working capital funds means funds established for providing advance financing of appropriations should there be a temporary liquidity shortfall and for such other purposes as the Assemblies of Member States and of the Unions, each as far as it is concerned, shall decide (Financial Rule 101.3 (q) and Regulation 4.3).
Working capital funds means the amount necessary, as reasonably determined by Manager from time to time with Owner’s approval, to cover [***] months of Operating Expenses, as such amount may be increased upon request by Manager and approved by Owner.
Working capital funds means a funds established for providing advance financing of appropriations should there be a temporary liquidity shortfall and for
Examples of Working capital funds in a sentence
Working capital funds in excess of actual allowable expenditures shall be returned to the Commission no later than 30 days after the end date of the period of performance of this grant.
More Definitions of Working capital funds
Working capital funds. Borrower shall use the Working Capital Funds for Property related costs and expenses and Borrower shall not declare or pay any dividends or otherwise declare or make any distribution to Borrower’s members from such Working Capital Funds. The Working Capital Account will be under the sole control and dominion of Administrative Agent, for the benefit of Lenders, except, so long as no Event of Default is continuing, Borrower shall have the right to make withdrawals from the Working Capital Account. 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. Borrower shall pay for all expenses of opening and maintaining the Working Capital Account. Any remaining Working Capital Funds after the Debt has been repaid in full shall be disbursed to Borrower. 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. Borrower (i) hereby grants to Administrative Agent, for the benefit of Lenders a first priority security interest in the Working Capital Account and all deposits at any time contained therein and the proceeds thereof, and (ii) will take all actions necessary to maintain in favor of Administrative Agent, for the benefit of Lenders a perfected first priority security interest in the Working Capital Account, including, without limitation, the execution of any account control agreement required by Administrative Agent. Borrower shall not further pledge, assign or grant any security interest in the Working Capital Account or the monies deposited therein or permit any lien or encumbrance to attach thereto, or any levy to be made thereon, or any UCC-1 financing statements, except those naming Administrative Agent, for the benefit of Lenders as the...
Working capital funds shall have the meaning ascribed to such term in the Senior Loan Agreement.
Working capital funds shall have the meaning set forth in Section 2.6.1. “Zoning Report” shall mean the zoning report prepared with respect to the Property by the Planning & Zoning Resource Company dated May 17, 2023.
Working capital funds. Section 4.1(j)
Working capital funds means, at any time, Indebtedness of Foreign Subsidiaries then outstanding which is permitted pursuant to SECTION 8.2(J) plus any other Indebtedness which was incurred and remains outstanding for working capital purposes in an aggregate amount not to exceed $25,000,000.
Working capital funds. Borrower shall cause Mortgage Borrower to use the Working Capital Funds for Property related costs and expenses and Borrower shall not permit Mortgage Borrower to declare or pay any dividends or otherwise declare or make any distribution to Mortgage Borrower’s members from such Working Capital Funds. The Working Capital Account will be under the sole control and dominion of Mortgage Administrative Agent, for the benefit of Mortgage Lenders with respect to any Working Capital Future Advances made by the Mortgage Lenders, and for the benefit of Lenders with respect to any Working Capital Advance made by Lenders, except, so long as no Event of Default is continuing, Borrower shall have the right to make withdrawals from the
Working capital funds shall have the meaning specified in Section 3.7(c) of this Agreement.