Establishment of Working Capital Reserve Account. On the Closing Date, the Manager shall cause the Company to establish the Working Capital Reserve Account with the Paying Agent for the exclusive purpose of holding a reserve (the “Working Capital Reserve”) to cover Working Capital Expenses to the same extent, and in the same order of priority, as are applicable to Loan Proceeds in accordance with the terms hereof and the Custodial and Paying Agency Agreement (and, as of any date of determination, the amount of the Working Capital Reserve shall be deemed to be the amount of the funds in such Working Capital Reserve Account). The Working Capital Reserve Account (and all funds therein) shall be subject to the security interest granted under the Reimbursement, Security and Guaranty Agreement and to the Account Control Agreement under the Custodial and Paying Agency Agreement.
Establishment of Working Capital Reserve Account. On the Closing Date, the Manager must cause the Company to establish the Working Capital Reserve Account with the Paying Agent for the exclusive purpose of holding the Working Capital Reserve to cover (and maintain applicable reserves for payment of) Working Capital Expenses to the same extent, and in the same order of priority, as are applicable to Asset Proceeds in accordance with the terms hereof and the Custodial and Paying Agency Agreement (and, as of any date of determination, the amount of the Working Capital Reserve will be deemed to be the amount of the funds in such Working Capital Reserve Account).
Establishment of Working Capital Reserve Account. On the Modification Closing Date under the Third Omnibus Amendment, the former Low Debt Yield Reserve Account shall be renamed the “Working Capital Reserve Account” and will have (after the transfer described in Section 2.12(d) of the Third Omnibus Amendment and the payment of closing costs under this Amendment as described therein), a balance of approximately $10,000,000. Thereafter, additional deposits shall be made into the Working Capital Reserve Account from the Cash Management Account pursuant to Section 3.2(b)(ix).
