Working Capital Line of Credit definition

Working Capital Line of Credit means a secured line of credit, credit facility or term loan with a maximum principal amount not to exceed
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Working Capital Line of Credit means the line of credit ------------------------------ established pursuant to Article II of this Agreement to provide direct loan ---------- advances and Standby Letters of Credit to finance the working capital needs of any Borrower.
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Working Capital Line of Credit means the $2 million line of credit set forth in Section 9.6.
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Examples of Working Capital Line of Credit in a sentence

  • The Credit Agreement provided for, among other things, a Committed Revolving Line in the original principal amount of Four Million and 00/100 Dollars ($4,000,000.00), as evidenced by an Amended and Restated Promissory Note, dated June 18, 1996 (the "Working Capital Line of Credit Note"), and a Committed Equipment Line in the original principal amount of Two Million and 00/100 Dollars ($2,000,000.00), as evidenced by a Promissory Note, dated June 18, 1996 (the "Equipment Line of Credit Note").

  • Not later than 1:00 p.m. (Boston time) on the date specified for the making of each such Working Capital Line of Credit Loan, each Bank shall make available to SVB, at SVB's principal office, an amount equal to such Bank's respective Working Capital Commitment Percentage multiplied by the amount of the Working Capital Line of Credit Loan requested as set forth above.

  • The Borrowers' Working Capital Line of Credit Obligations with respect to direct loan advances may be prepaid under the terms of the Working Capital Line of Credit Promissory Note and must be prepaid from Proceeds of Receivables received by any Borrower, as provided in the Working Capital Line of Credit Promissory Note.

  • All direct loan ------------------------------------------------ advances under the Working Capital Line of Credit, together with interest thereon, must be repaid in accordance with the terms of the Working Capital Line of Credit Promissory Note.

  • Total Net Worth: Working Capital: Line of Credit: (if needed) Personal Statement: (if needed) License Bond: (if needed) (D) (F) The Undersigned hereby represent(s) that the foregoing statements and answers to interrogatories are true to the best of their knowledge, information and belief.

  • Accelerate the Termination Date --------------------------- whereupon the Acquisition Facility Commitment, the Equipment Facility Commitment and the Working Capital Line of Credit Commitment shall terminate as of the accelerated Termination Date.

  • All partial prepayments of the Working Capital Line of Credit shall be applied first to the repayment of direct loan advances and then to prepayment of reimbursement obligations in respect of Standby Letters of Credit.

  • The Subordinated Note shall be subordinate to all amounts hereafter owed by Borrower and/or ICF under the following lines of credit: (i) a working Line of Credit to be extended to ICF that shall not exceed $3,000,000.00 (the "Working Capital Line of Credit"); and (ii) an acquisition line of credit to be extended to Borrower that shall not exceed $25,000,000.00 (the "Acquisition Line of Credit").

  • Subject to the provisions of this -------------------- Agreement, including the satisfaction of the conditions precedent described in Article VIII hereof, the Bank agrees to make direct loan advances under the ------------ Working Capital Line of Credit in Dollars from time to time during the Commitment Period, in amounts not to exceed the then Available Working Capital Line of Credit Commitment.

  • PURPOSE: Working Capital Line of Credit AMOUNT OF LOAN: $3,000,000.00 INTEREST RATE: LIBO Rate: Interest on the unpaid principal balance, from time to time, until paid in full at a rate per annum of 3.50 percentage points above the 30 day LIBO Rate as published daily in the Wall Street Journal.


More Definitions of Working Capital Line of Credit

Working Capital Line of Credit means an unsecured line of credit, credit facility or term loan with a maximum principal amount not to exceed $3,000,000.
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Working Capital Line of Credit means the Business Loan Agreement (Asset Based) between the Company and JPMorgan Chase Bank, N.A., dated as of October 13, 2015.
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Working Capital Line of Credit has the meaning given to that term in Section 2.01.
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Working Capital Line of Credit means the revolving line of credit in the original principal amount of Eighteen Million Dollars ($18,000,000.00) established by the Bank in favor of the Borrower pursuant to this Amended and Restated Loan Agreement.
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Working Capital Line of Credit means a line of credit utilized to fund the operating needs of Lessee, which line of credit may be secured by a first priority security interest in the General Account and inventory, receivables and the proceeds thereof, subject to Section 8.2(l) and the restrictions in clauses (i) through (iv) of Section 8.3(d).
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Working Capital Line of Credit means the revolving line of credit facility in the maximum amount of Ten Million Dollars ($10,000,000) described in Section 2.1.
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Related to Working Capital Line of Credit

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

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

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

  • Working Capital Borrowings means borrowings incurred pursuant to a credit facility, commercial paper facility or similar financing arrangement that are used solely for working capital purposes or to pay distributions to the Partners; provided that when such borrowings are incurred it is the intent of the borrower to repay such borrowings within 12 months from the date of such borrowings other than from additional Working Capital Borrowings.

  • 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.

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

  • Working Capital Assets has the meaning as set forth in the Recitals of this Agreement.

  • Consolidated Net Working Capital means (a) all current assets of the Company and its Restricted Subsidiaries except current assets from Oil and Gas Hedging Contracts, less (b) all current liabilities of the Company and its Restricted Subsidiaries, except (i) current liabilities included in Indebtedness, (ii) current liabilities associated with asset retirement obligations relating to oil and gas properties and (iii) any current liabilities from Oil and Gas Hedging Contracts, in each case as set forth in the consolidated financial statements of the Company prepared in accordance with GAAP (excluding any adjustments made pursuant to FASB ASC 815).

  • 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).

  • Target Working Capital means $0.

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

  • 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.

  • Permitted Acquisition Indebtedness means Indebtedness (including Disqualified Stock) of the Company or any of the Restricted Subsidiaries to the extent such Indebtedness was Indebtedness:

  • 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.

  • Consolidated First Lien Net Debt means Consolidated Total Net Debt minus the sum of (i) the portion of Indebtedness of the Borrower or any Restricted Subsidiary included in Consolidated Total Net Debt that is not secured by any Lien on the Collateral and (ii) the portion of Indebtedness of the Borrower or any Restricted Subsidiary included in Consolidated Total Net Debt that is secured by Liens on the Collateral, which Liens are expressly subordinated or junior to the Liens securing the Obligations.

  • Working Capital Target means $0.

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

  • 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.

  • 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.

  • Consolidated Working Capital Adjustment means, for any period of determination 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.

  • Permitted Prior Working Capital Lien means, with respect to any borrower under a Bank Loan, a security interest to secure a senior facility for such borrower and/or any of its parents and/or subsidiaries; provided that (i) such Bank Loan has a second priority lien on the collateral that is subject to the first priority lien of such senior facility (or a pari passu lien on such collateral), (ii) such senior facility is not secured by any other assets (other than a pari passu lien or a second priority lien, subject to the pari passu or first priority lien of the Bank Loan) and does not benefit from any standstill rights or other agreements (other than customary rights) with respect to any other assets and (iii) the maximum outstanding principal amount of such senior facility is not greater than 15% of the aggregate enterprise value of such borrower (as determined at the time of closing of the transaction, and thereafter an enterprise value for such borrower determined in a manner consistent with the valuation methodology applied in the valuation for such borrower as determined by the Advisor (so long as it has the necessary delegated authority) or the Borrower’s board of directors (or the appropriate committee thereof with the necessary delegated authority) in a commercially reasonable manner, including the use of an Approved Third-Party Appraiser in the case of Unquoted Investments).

  • Target Working Capital Amount means $75,000,000.

  • Consolidated First Lien Indebtedness means Consolidated Indebtedness that is secured by a first priority Lien (other than Permitted Liens) on assets of any Borrower or Restricted Subsidiary.