Working Capital Loan Account definition

Working Capital Loan Account is defined in Section 2.2.4.
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Working Capital Loan Account means the loan account maintained by the ---------------------------- Lender for the benefit of the Borrower, as more fully described in Section ------- 2.1(a)(v) hereof. ---------
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Examples of Working Capital Loan Account in a sentence

  • The aggregate principal amount of the Indebtedness evidenced by the Working Capital Loan Account is referred to as the "Working Capital Loan." The Working Capital Loan shall be deemed owed to each Bank severally in accordance with such Bank's Percentage Interest, and all payments credited to the working Capital Loan Account shall be for the account of each Bank in accordance with its Percentage Interest.

  • Each such loan will be made at the Administrative Agent's Tulsa Office by depositing the amount thereof to the Borrower's Working Capital Loan Account with the Administrative Agent.

  • Construction industry is completely involved in realization of construction projects serving as an engine for a development of national and global economy.

  • At any time from the date hereof through September 30, 1997 (the "Equipment Availability End Date"), Borrower may from time to time request advances (each an "Equipment Advance" and collectively, "Equipment Advances") from Bank in an aggregate amount not to exceed the Commitment Amount less the outstanding balance under the Working Capital Loan Account (as hereinafter defined).

  • The date and amount of each Working Capital Loan Advance and each payment of principal with respect thereto shall be recorded on the books and records of the Lender with respect to the Working Capital Loan Account which books and records shall constitute prima ----- facie evidence of the accuracy of the information recorded therein.

  • Interest shall be computed at the above rate on the basis of the actual number of days during which the principal balance of the Working Capital Loan Account is outstanding divided by 360, which shall for interest computation purposes be considered one (1) year.

  • These shares, together with the shares on issue at 30 June 2004 comprise the Founder Shares.

  • Borrower promises to pay to Bank the outstanding unpaid principal balance (and all accrued unpaid interest thereon) of the Working Capital Loan Account on the Working Capital Maturing Date.

  • After payment of all fees, expenses and other amounts required by the Financing Documents to be paid by Borrower on such Working Capital Loan Funding Date, the remaining aggregate net proceeds of such Working Capital Loans, if any, shall be deposited into the Working Capital Loan Account, shall be applied solely in accordance with this Agreement and the Disbursement Agreement and shall be used solely for the payment of Qualified Project Expenses.

  • The Lender's books and records with respect to the Working Capital Loan Account shall reflect the amount of the Borrower's indebtedness to the Lender from time- to-time by reason of the Working Capital Revolving Loan and other appropriate charges hereunder, including debits for any interest and principal not paid to the Lender when due and owing pursuant to the terms of the Working Capital Revolving Note.

Related to Working Capital Loan Account

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

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

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

  • 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 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 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.

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

  • 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).

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

  • 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.

  • 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.

  • Total loan amount means the principal of the loan minus those

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

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

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

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

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

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

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

  • Target Working Capital means $0.

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

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