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.

  • In the previous year Rs. 398.53 have been transferred to Bank Guarantee Devolved Account and the balance have been transferred to Working Capital Loan Account.

  • The Lender shall charge the Working Capital Loan Account 10 days after its forwarding of such certificate and such amount shall be deemed an Obligation.

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

  • Borrower further promises to pay to Bank from the date of the initial Working Capital Advance through the Working Capital Maturity Date, on or before the tenth (10th) day of each month, and each month thereafter interest on the average daily unpaid balance of the Working Capital Loan Account during the immediately preceding month at the rate of interest per annum equal to the Prime Rate, which shall vary concurrently with any change in the Prime Rate.

  • 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 amount of each Working Capital Advances (herein called the "Working Capital Loan Account") and Bank shall credit the Working Capital Loan Account with all loan repayments in respect thereof made by Borrower.

  • 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.

  • The Borrower shall make each payment under this -------- Agreement (including principal of or interest on any Loan or any accrued Fees or other amounts) not later than 1:00 p.m. (New York City time) on the day when due in lawful money of the United States of America in immediately available funds to the Collection Account; notwithstanding the foregoing, the Lender shall have the right to charge the Working Capital Loan Account for the Fees and all amounts due and payable under the Notes.

Related to Working Capital Loan Account

  • Working Capital Loan has the meaning provided in Section 2.04(a) (Working Capital Loan Availability).

  • 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(c).

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

  • Working Capital Commitment means, with respect to any Working Capital Lender at any time, the amount set forth opposite such Lender's name on Schedule I hereto under the caption "Working Capital Commitment" or, if such Lender has entered into one or more Assignments and Acceptances, set forth for such Lender in the Register maintained by the Administrative Agent pursuant to Section 8.07(d) as such Lender's "Working Capital Commitment", as such amount may be reduced at or prior to such time pursuant to Section 2.05.

  • 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, on any date, Current Assets less Current Liabilities.

  • 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 a loan minus those points and fees that are included in the principal amount of the loan. For open-end loans, the total loan amount must be calculated using the total line of credit allowed under the residential mortgage loan at closing. [PL 2011, c. 427, Pt. A, §15 (NEW).]

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

  • Working Capital Escrow Amount means $1,000,000.

  • Final Closing Working Capital has the meaning set forth in Section 2.4(e).

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

  • Working Capital Deficit means the amount by which the Working Capital is less than the Target Working Capital Amount.

  • 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 has the meaning set forth in Section 2.04(a)(ii).

  • 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.