Working Capital Reserve Floor definition

Working Capital Reserve Floor means the minimum amount to be maintained in the Working Capital Reserve Account at any point in time while any Purchase Money Note or Reissued Purchased Money Note is outstanding, which amount initially will be $7,500,000 subject to the provisions of Section 3.6; provided, however, such minimum amount can be reduced to an amount below $7,500,000 when advances or payments from the Working Capital Reserve are required to pay the Working Capital Expenses then due and payable so long as the balance of the Working Capital Reserve Account is restored to the Working Capital Reserve Floor as soon thereafter as is practicable; and provided, further, however, that, after the Purchase Money Notes Defeasance Date, the Working Capital Reserve Floor shall be the amount as determined by the Private Owner in the exercise of its reasonable discretion, which amount may be greater than, less than or equal to $7,500,000.
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Working Capital Reserve Floor means $1,000,000.00, or, in the event of an applicable written approval from the Initial Member pursuant to Section 12.11(b) of the LLC Operating Agreement, such other amount as may be applicable pursuant to such written approval.
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Working Capital Reserve Floor means $1,500,000.
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Examples of Working Capital Reserve Floor in a sentence

  • The Company may fund the Working Capital Reserve Account with Asset Proceeds in accordance with the terms of the Custodial and Paying Agency Agreement and must maintain certain deposit amounts to comply with the Working Capital Reserve Floor, the Working Capital Reserve Target and Working Capital Reserve Replenishment Cap established under the Custodial and Paying Agency Agreement.

  • The Company may fund the Working Capital Reserve Account with Loan Proceeds in accordance with the terms of the Custodial and Paying Agency Agreement and must maintain certain deposit amounts to comply with the Working Capital Reserve Replenishment Cap and Working Capital Reserve Floor established under the Custodial and Paying Agency Agreement.

  • In connection with any such requested change to the Working Capital Reserve Floor, the Initial Member will have the right to receive (and the Manager must promptly comply with any reasonable request for) any additional relevant information as it may deem necessary or advisable for evaluating such request and related Working Capital Reserve levels (and compliance thereof with the requirements herein).

  • The GP can only account for this raise if there is an agreement with the representing healthcare insurers concerning the volume and tariff. The representing healthcare insurers monitor the enforcement of the above conditions.

  • In connection with any such requested change to the Working Capital Reserve Floor or the Working Capital Reserve Replenishment Cap, the Initial Member shall have the right to receive (and the Manager shall promptly comply with any reasonable request for) any additional relevant information as it may deem necessary or advisable for evaluating such request and related Working Capital Reserve levels (and compliance thereof with the requirements herein).

  • Any such requested change to the Working Capital Reserve Floor shall be effective upon, and subject to, receipt by the Manager of an applicable express approval in writing from the Initial Member.

  • Pursuant to Section 5.4 of the LLC Operating Agreement, the Manager may make, at its discretion, Discretionary Funding Advances from its own funds to fund Permitted Vertical Completion Expenses on an Asset-by-Asset basis to the extent that funds are not available in the Collection Account for such purpose, the Working Capital Reserve has reached the Working Capital Reserve Floor and no funds remain available for drawing under the Advance Facility.

  • Any such requested change to any of the Working Capital Reserve Floor or the Working Capital Reserve Replenishment Cap shall be effective upon, and subject to, receipt by the Manager of an applicable express approval in writing from the Initial Member.

  • Pursuant to Section 5.4 of the LLC Operating Agreement, the Manager may make, at its discretion, Discretionary Funding Advances from its own funds to fund Permitted Vertical Completion Expenses on an Asset-by-Asset basis to the extent that funds are not available in the Collection Account for such purpose and the balance on deposit in the Working Capital Reserve Account has been reduced to (or below) the Working Capital Reserve Floor.

Related to Working Capital Reserve Floor

  • Working Capital Reserve shall have the meaning set forth in the Partnership Agreement.

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

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

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

  • 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.

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

  • Net Working Capital Adjustment means (a) the amount by which Net Working Capital as of immediately prior to the Closing exceeds Target Net Working Capital or (b) the amount by which Net Working Capital as of immediately prior to the Closing is less than Target Net Working Capital, in each case, if applicable; provided, that any amount which is calculated pursuant to clause (b) above shall be deemed to be a negative number.

  • Working Capital Adjustment shall have the meaning set forth in Section 3.5(c)(i).

  • Working Capital means Current Assets less Current Liabilities.

  • Target Net Working Capital Amount means $0.