Funding Working Capital Reserve. On the Closing Date, the Initial Member and the Private Owner shall fund the Working Capital Reserve in an initial principal amount of $24,000,000 as follows: the Initial Member shall deposit cash in the amount of $14,400,000 (an amount equal to 60% of the initial principal amount of the Working Capital Reserve Account) into the Working Capital Reserve Account, and the Manager shall deposit cash in the amount of $9,600,000 (an amount equal to 40% of the initial principal amount of the Working Capital Reserve Account) into the Working Capital Reserve Account. 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 Ceiling established under the Custodial and Paying Agency Agreement
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Samples: Limited Liability Company Operating Agreement, Limited Liability Company Operating Agreement
Funding Working Capital Reserve. On the Closing Date, the Initial Member and the Private Owner shall fund the Working Capital Reserve in an initial principal amount of $24,000,000 30,000,000 as follows: the Initial Member shall deposit cash in the amount of $14,400,000 18,000,000 (an amount equal to 60% of the initial principal amount of the Working Capital Reserve Account) into the Working Capital Reserve Account, and the Manager shall deposit cash in the amount of $9,600,000 12,000,000 (an amount equal to 40% of the initial principal amount of the Working Capital Reserve Account) into the Working Capital Reserve Account. 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 Ceiling established under the Custodial and Paying Agency Agreement
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Funding Working Capital Reserve. On the Closing Date, the Initial Member and the Private Owner shall fund the Working Capital Reserve in an initial principal amount of $24,000,000 20,000,000 as follows: the Initial Member shall deposit cash in the amount of $14,400,000 12,000,000 (an amount equal to 60% of the initial principal amount of the Working Capital Reserve Account) into the Working Capital Reserve Account, and the Manager shall deposit cash in the amount of $9,600,000 8,000,000 (an amount equal to 40% of the initial principal amount of the Working Capital Reserve Account) into the Working Capital Reserve Account. 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 Ceiling established under the Custodial and Paying Agency Agreement
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