Working Capital Reserve definition

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

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 Reserve. The term "Working Capital Reserve" shall mean a portion of the Invested Capital which the General Partners, in their discretion, determine is prudent to be maintained by the Partnership to pay for operating, and other costs and expenses the Partnership may incur with respect to its activities. INDEX TO THE FINANCIAL STATEMENTS Page

Examples of Working Capital Reserve in a sentence

• No funds from any other source (other than interest or earnings on the Asset Proceeds, funds transferred from the Working Capital Reserve Account, the proceeds of Excess Working Capital Advances and other funds expressly permitted to be deposited into the Collection Account pursuant to the Custodial and Paying Agency Agreement) may be commingled in the Collection Account.

• The Working Capital Reserve is set to support short-term cash flow and expenditure variations and cash balance requirements in covenants to debt services, credit or other agreements.

• Except as otherwise directed by the Manager, the Servicer must not cause (and must ensure that no Subservicer causes) funds from any other source (other than interest or earnings on the Working Capital Reserve) to be commingled in the Working Capital Reserve Account (it being understood that deposits into such Working Capital Reserve Account must be made only pursuant to the Custodial and Paying Agency Agreement and the LLC Operating Agreement).

More Definitions of Working Capital Reserve

Working Capital Reserve. As defined in Section 3.1(a)(iv).

Working Capital Reserve has the meaning given in Section 12.11.

Working Capital Reserve means the reserve to the established by the Partnership for working capital purposes pursuant to Section 6.1(d).

Working Capital Reserve has the meaning given in Section 3.6.

Working Capital Reserve means, as the context requires, the Working Capital Operating Reserve or the Working Capital Sale Reserve, as applicable. The parties acknowledge that the funds contributed by the Members on the Effective Date shall remain with the Company as the initial Working Capital Reserve to be disposed of in accordance with the then-approved Operating Budget or the then-approved Business Plan.

Working Capital Reserve has the meaning given in Section 2.6(a).

Working Capital Reserve means a working capital reserve to be (a) funded initially on the Closing Date (in an aggregate amount equal to the WCR Account Deposit) pursuant to the LLC Operating Agreement and the payments contemplated in the Private Owner Interest Sale Agreement, and (b) thereafter held in the Working Capital Reserve Account and used and replenished from time to time pursuant to the applicable provisions in the LLC Operating Agreement and the Custodial and Paying Agency Agreement.