Initial Working Capital. As of the Commencement Date, Tenant shall ensure that the available funds in the Operating Account (which may be attributable to the Managed Facility, Other Managed Facilities and/or other resorts that are owned by CEOC or its subsidiaries) include at least Two Hundred Ninety-One Million, Five Hundred Twenty-Five Thousand Dollars ($291,525,000) of cash.
Initial Working Capital. At least five (5) Business Days prior to the Closing Date, Seller shall deliver to Buyer an estimated balance sheet of the Company as of the Closing Date substantially in the form of the Balance Sheet (the “Pre-Closing Balance Sheet”) and a statement of Working Capital of the Company as of the Closing Date based on the Pre-Closing Balance Sheet (the “Pre-Closing Working Capital Statement”), which shall quantify in reasonable detail the items constituting such Working Capital. The Pre-Closing Balance Sheet shall be prepared in accordance with GAAP (as defined in Section 4.4 hereof) and on a basis consistent with the accounting policies, practices, procedures and principles used in preparing the Balance Sheet. The Pre-Closing Working Capital Statement will contain (i) a good faith estimate of the aggregate amount of Working Capital of the Company as of the Closing Date (the “Initial Working Capital”), which shall reflect adjustments substantially similar in form to those set forth in the Working Capital calculation as of March 31, 2009 attached as Annex I to Section 2.4 of the Seller Disclosure Letter (the “Adjustments”) and (ii) a statement of the amount by which (x) the Initial Working Capital exceeded the Working Capital Target Amount (such amount, the “Estimated Working Capital Excess”) or (y) the Working Capital Target Amount exceeds the Initial Working Capital (such amount, the “Estimated Working Capital Deficiency”). Each of Buyer and Seller shall bear its own expenses in the preparation and review of the Pre-Closing Balance Sheet and Pre-Closing Working Capital Statement.
Initial Working Capital. Apple shall make available to the Orthodontic Entity an interest free line of credit ("Initial Working Capital Line") for the initial working capital needs of the Orthodontic Entity, up to a maximum amount equal to the reduction in Net Operating Amount attributable to changes in patient payment schedules. The Orthodontic Entity shall be entitled to draw funds from the Initial Working Capital Line up until six (6) months after the Acquisition Closing Date ("Loan Termination Date"). The amount, if any, of the Initial Working Capital Line outstanding on the Loan Termination Date shall be repaid, in equal monthly installments (without interest) over a two-year period commencing on the Loan Termination Date.
Initial Working Capital. Purchaser shall have deposited the Initial Working Capital (as defined in the New Management Agreement) into the Operating Account (as defined in the New Management Agreement) on the Closing Date.
Initial Working Capital. As of the Commencement Date, Owner shall ensure that the available funds in the Operating Account include at least $9,403,297 of cash and the net working capital of the Managed Facilities (as calculated in a manner consistent with the calculation of Net Working Capital as defined in the Transaction Agreement) shall be at least $(8,931,180).
Initial Working Capital. Owner shall deposit or cause to be deposited the Initial Working Capital into the Operating Account at least thirty (30) days prior to the anticipated Opening Date, or at such earlier time as reasonably required for Operation of the Managed Facilities. The Initial Working Capital is separate from, and in addition to, any funds that Owner may be required to fund for Pre-Opening Services, including purchasing initial inventories of FF&E and Supplies.
Initial Working Capital. Prior to the Commercial Operation Date of the GT#1 Unit, Liyuan-AES and Hefei Zhongli shall provide Party A an initial working capital amounting to [***]. [***] Filed separately with the Commission pursuant to a request for confidential treatment.
Initial Working Capital. The initial Working Capital required shall be calculated based on the lowest balance of the Projected Dam Fund balance and shall be included in the Annual Revenue Requirement.
Initial Working Capital. Operator shall, by a date reasonably in advance of the Commencement Date and reasonably acceptable to Manager and Operator, provide Manager with sufficient working capital or reserves as may be required by the Gaming Authorities and lenders or mortgagees to operate the Casino and such sufficient additional working capital as may be adequate to meet the needs of the table betting limits appropriate to the Casino operations (collectively, the “Reserves”).
Initial Working Capital. (a) The "INITIAL WORKING CAPITAL" shall be an amount equal to the value of Seller's Initial Net Working Capital (as hereinafter defined) as of the date of, and based upon Seller's latest regularly prepared balance sheet in respect of the Business (the "INTERIM BALANCE SHEET") available prior to Closing, which shall be not more than 61 days old. The Interim Balance Sheet shall be prepared using the same methodologies and assumptions used in connection with the preparation of Financial Statements (as hereinafter defined), and in accordance with generally accepted accounting principles ("GAAP") applicable to interim financial statements. The Interim Balance Sheet shall also be used for purposes of determining the initial principal balance of the Medicare Reconciliation Note and the amount of cash to be delivered by Buyer to Seller with respect to the Medicare Reconciliation Note. For the purpose of the Initial Working Capital, "SELLER'S INITIAL NET WORKING CAPITAL" shall be equal to THE SUM OF (A) the amounts set forth on SCHEDULE 1.5.1(A); PLUS (B) the amount of any capital expenditures made by Seller from and after December 1, 1997 until the Cut-Off Point (as defined at Section 2.1); MINUS (C) the amount of Seller's capital leases obligations assumed by Buyer, specifically excluding the lease from Bell Atlantic Tricxx Xeasing Corporation relating to CRH.
