Working Capital and Reserves definition

Working Capital and Reserves. Reserve or Reserves shall mean, with respect to any fiscal period, funds set aside or amounts allocated during such period to Reserves that shall be maintained in amounts deemed sufficient by the Manager for working capital and to pay taxes, insurance, debt service, or other costs or expenses incidental to the ownership or operation of the Company’s business.
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Examples of Working Capital and Reserves in a sentence

  • Distributable Cash shall be determined in the sole discretion of the Manager after withholding sufficient Working Capital and Reserves.

  • Proceeds of the Offering that are not used to acquire the Asset will be held in the Series bank account for use as Working Capital and Reserves during operation of the Series.

  • If only a small amount of capital is raised, then additional Working Capital and Reserves may need to be accumulated from cash flow during operation of the Asset and any Distributions to the Members may be deferred until such time as sufficient Reserves have been accumulated, at the Manager’s sole discretion.

  • Distributable Cash shall be determined by the sole discretion of the Manager after sufficient Working Capital and Reserves.

  • Lack of Reserves or Working Capital A portion of the proceeds of this Offering will necessarily be set aside for Working Capital and Reserves, and therefore, will not be available for investment.

  • In general, the Manager intends to operate the Company in such a manner as to generate Distributable Cash it can share with the Members.Distributable Cash shall be determined in the sole discretion of the Manager after withholding sufficient Working Capital and Reserves.

  • Distributable Cash shall be determined in the sole discretion of the General Partner after withholding sufficient Working Capital and Reserves.

Related to Working Capital and Reserves

  • Net Working Capital means current assets minus current liabilities.

  • Adjusted Capital and Reserves means a sum equal to the aggregate of:

  • Working Capital Amount shall have the meaning specified in Section 3.4(e).

  • 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.

  • Target Working Capital means $0.

  • Target Working Capital Amount means $162,000,000.

  • Working Capital Assets means the current assets of the Company as of the Effective Time (including all Cash and Cash Equivalents), determined in accordance with Accounting Principles but excluding any Tax assets.

  • 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.

  • Target Net Working Capital Amount means $0.

  • Closing Net Working Capital means Net Working Capital as of the Adjustment Calculation Time.

  • Estimated Net Working Capital shall have the meaning set forth in Section 2.3(a).

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

  • Target Net Working Capital means $0.

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

  • Net Working Capital Target means $0.00.

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

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

  • Consolidated Working Capital Adjustment means, for any period 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.

  • 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.

  • Estimated Working Capital has the meaning set forth in Section 2.3(a).

  • Working Capital Target means $0.

  • Estimated Closing Net Working Capital has the meaning set forth in Section 2.5.

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

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

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

  • 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).