Working Capital Facility Sample Clauses
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Working Capital Facility. At the request of ITC, Entergy shall use its reasonable best efforts to cause TransCo to arrange and obtain a working capital revolving credit facility with available credit facilities in a principal amount mutually determined by ITC and Entergy (the “Working Capital Facility”). The terms and conditions of the Working Capital Facility shall be at then prevailing market terms for similar working capital facilities by companies of a size and with a credit rating or profile similar to TransCo’s credit rating or profile, as mutually determined by Entergy and ITC each using their respective commercially reasonable judgment. Entergy shall pay for any initial commitment fees and expenses associated with the Working Capital Facility that are incurred prior to the Effective Time. Without the express written consent of ITC, TransCo shall not draw down on the Working Capital Facility prior to the Effective Time.
Working Capital Facility. (a) If the Issuer proposes to enter into any Working Capital Facility, the Issuer shall first offer such Working Capital Facility to each Purchaser prior to entering into such Working Capital Facility with any other Person; provided that the Issuer may solicit proposals for a Working Capital Facility from Persons other than the Purchasers and their respective Affiliates prior to making such offer, but shall not enter into any binding agreement or commitment with such Person. A Purchaser shall be entitled to apportion the right of first offer hereby granted to it in such proportions as it deems appropriate, among (i) itself and (ii) its Affiliates.
(b) The Issuer shall give written notice (the “Offer Notice”) to each Purchaser, stating (i) its bona fide intention to enter into a Working Capital Facility, (ii) the amount of such Working Capital Facility, and (iii) the pricing and other material terms customary for a Working Capital Facility.
(c) By notification to the Issuer within 15 days after the Offer Notice is given, each Purchaser may elect to provide, on the terms specified in the Offer Notice, its pro rata share of such Working Capital Facility based on the principal amount of all Notes then held by such Purchaser. At the expiration of such 15-day period, the Issuer shall promptly notify each Purchaser that elects to provide all or any portion of such Working Capital Facility (each, an “Exercising Holder”) of any other Purchaser’s (each, a “Declining Holder”) failure to do likewise. During the 5-day period commencing after the Issuer has given such notice, in addition to the portion of Working Capital Facility specified above, each Exercising Holder may, by giving notice to the Issuer, elect to provide any Declining Holder’s portion of such Working Capital Facility (and if more than one Exercising Holder makes such election, such portion to be allocated among \\4165-2766-4210 v2v5 such Exercising Holders pro rata based on the principal amount of all Notes then held by each such Exercising Holder). The closing of any Working Capital Facility pursuant to this Section 12.24 shall occur promptly thereafter on such date as is agreed to by the Issuer and the Exercising Holders pursuant to documentation reasonably acceptable to the Issuer and the Exercising Holders.
(d) If the Purchasers do not elect to provide the full amount of the proposed Working Capital Facility as provided in this Section, the Issuer may enter into a Working Capital Facility with any ...
Working Capital Facility. AEE shall have entered into the Working Capital Facility with the Working Capital Provider.
Working Capital Facility. 10 ARTICLE II.
Working Capital Facility. The Loan Parties shall from and after the Sixteenth Amendment Effective Date maintain (a) the Vitol RCF Agreement or (b) another Permitted Working Capital Facility in an aggregate amount at least equal to $100,000,000.
Working Capital Facility. You may enter into a Working Capital Loan Facility (defined below) so long as the aggregate outstanding obligations and liabilities thereunder (including advances, bank services, letters of credit, contingent obligations and the like) at no time exceed $2,800,000 upon receipt and review by Us of the final documentation relating to such Working Capital Loan Facility and execution of an intercreditor agreement between Us and the lender under the Working Capital Loan Facility, with terms reasonably acceptable to Us. As used in this Agreement “Working Capital Loan Facility” means a revolving line of credit provided by a bank, commercial lender, or other financial institution or entity regularly engaged in the business of lending money (excluding venture capital, investment banking or similar institutions which sometimes engage in lending activities but which are primarily engaged in investments in equity securities) (each, a “Working Capital Lender”), pursuant to which such Working Capital Lender makes advances based on the value of Your Accounts and/or Inventory and Your obligations thereunder are secured by, and limited to, a security interest in the Accounts, Inventory, other related assets, and the identifiable cash proceeds thereof residing in an associated lockbox deposit account.
Working Capital Facility. NTL CC and the Parent shall ensure that the full amount of the Working Capital Facility is invested by the Parent in the other members of the UK Group on or prior to the time anticipated in the Business Plan by way of Parent Funding.
Working Capital Facility. Section 4.17 of the Reorganization Agreement is hereby amended to read as follows: Newco Parent shall use its best efforts to have secured, no later than 90 days following the Closing, a firm irrevocable financing commitment and/or credit facilities on prevailing market terms and conditions under which, collectively, no less than $15 million of financing will be available to Newco to support and finance its operations for a period of at least 2 years subsequent to the Closing (the "Financing").
Working Capital Facility. Iconic shall provide working capital, from time to time, of up to $750,000.00 pursuant to a Working Capital Facility to the Company, which shall be repaid by the Company from working capital generated from Company’s operations. Provided that, in the event that Iconic fails to provide working capital of at least $40,000.00 per month, and such failure shall continue for a period of sixty (60) calendar days thereafter (“Cure Period”) then the Company may, at its option, by written notice to Iconic, declare a default. In the event of such default, Iconic shall surrender the Majority Interest back to the Company for retirement and the Holders of the Series C Preferred Stock shall surrender all outstanding shares of Preferred Stock back to Iconic for retirement (“Unwind”). At the time of the Unwind, the Company shall issue a 5% promissory note to Iconic (“Promissory Note”) with a principal amount equal to the then outstanding unpaid balance of the Working Capital Facility advanced to the Company prior to the Unwind, payable upon the acquisition of the majority of the outstanding stock or assets of the Company, including but not limited to the BiVi Brand of products, by a third party, but in no event later than 36 months from issuance (“Maturity Date”).
Working Capital Facility. Baht loan or overdraft provided by Working Capital Creditors to the Borrower under the terms and conditions of this Agreement for the aggregate amount of not exceeding Baht 100,000,000 (One Hundred Million Baht) divided into the following type of the facility;