Working Capital Fund. At Closing, Purchaser shall pay to the Association and to the Master Association each an amount equal to three (3) months’ regular assessments, as determined in accordance with the Declaration, such sum to be held in a working capital fund for each such association.
Working Capital Fund. The agreement re- iterates House direction on this topic.
Working Capital Fund. The Trustee shall establish an account styled "Noble/Paul Xxxxxx Xxxking Capital Fund" (the "Working Capital Fund"), subject to the Trustee's sole dominion and control. From the proceeds received by the Issuer, upon the issuance of the Notes pursuant hereto and pursuant to the Note Purchase Agreements, Issuer shall deposit or cause to be deposited an amount in the Working Capital Fund equal to $1,950,000. Five (5) Business Days prior to the first two Payment Dates, the Trustee shall determine whether the sums in the Collection Account will be sufficient to cover the required payments of principal and interest due on the Notes under Article 3 hereof on the next Payment Date. In the event the Trustee determines that insufficient funds are available as aforesaid, the Trustee will draw on the Working Capital Fund. In such event, the Trustee will transfer an amount equal to the lesser of (i) the amount necessary to pay the principal and interest due on the Notes under Article 3 and (ii) the balance in the Working Capital Fund to the Collection Account on the Business Day next preceding the Payment Date. Following the second Payment Date, if the funds in the Collection Account are otherwise sufficient to pay the amounts required under Article 3, and no Indenture Default or Indenture Event of Default shall have occurred and be continuing, the Trustee shall release any funds remaining in the Working Capital Fund to the Collection Account.
Working Capital Fund. The Union shall have a working capital fund which shall be constituted from the income of the Union.
Working Capital Fund. There may (if necessary to comply with Federal Regulations) be established a working capital fund equal to three months’ assessments for each Lot. Each Lot’s share of the working capital fund shall be collected and transferred to the Association at the time of closing of the sale of each Lot and maintained in an account for the use and benefit of the Association. Amounts paid into the fund shall not be considered as advance payment of regular assessments. (The contribution to the working capital fund for each unsold lot shall be paid to the Association within sixty (60) days after the date that the Developer shall cease to have three (3) votes for each lot it owns pursuant to Sections 4.1 and 4.2 above.) The purpose of the fund is to insure that the Association will have cash available to meet unforeseen expenditures, or to acquire additional equipment or services deemed necessary or desirable by the Board of Directors.
Working Capital Fund. Within [**] after the Effective Date, Licensee will pay Akebia $40,000,000 (the “Initial Working Capital Payment”) to be used as a working capital fund to finance the manufacture of Licensed Products (the “Working Capital Fund”), representing [**]% of the amount of purchase orders that Akebia has placed with its contract manufacturer for the supply for the Territory of Licensed Product [**]. On a [**] basis, Akebia will notify Licensee of (a) all new purchase orders placed with Akebia’s contract manufacturer in such [**] for Licensed Product scheduled to be delivered within the following [**], (b) following the Reimbursement Date, all purchase orders that have been fulfilled in the preceding [**], (c) the total amount of all outstanding purchase orders that Akebia has placed with its contract manufacturers as of the end of such [**], in each case, for the Territory (the “Outstanding CMO Balance”), (d) with respect to Akebia’s inventory of Licensed Product drug substance, bulk drug product and finished goods as of the end of each [**] (the “Safety Stock Amount”), and (e) the sum of the Outstanding CMO Balance and the Safety Stock Amount (“Total Working Capital Requirement”), provided that, for the purpose of calculating the payments required by this Section 11.5 (Working Capital Fund), the Safety Stock Amount, when calculated as the number of months of forward coverage for the Territory, shall not exceed [**] for drug substance and [**] for the sum of bulk drug product and finished goods, unless the Parties explicitly agree to exceed such cap. Provided further, that such cap on the sum of bulk drug product and finished goods inventory shall not apply until [**] post Reimbursement Date. For clarity, nothing herein shall be construed as restricting the actual amount of Licensed Product inventory Akebia may maintain at any given time during the Term, or otherwise impacting Akebia’s inventory management. Within [**] of receiving such notice, Licensee will contribute an additional amount (each such payment, an “Additional Working Capital Payment,” and together with the Initial Working Capital Payment, the “Working Capital Payments”), to the Working Capital Fund, equal to the positive difference (if any) between (A) the Working Capital Percentage (defined below) multiplied by the Total Working Capital Requirement, minus (B) the current balance of the Working Capital Fund (i.e., the total amount of all Working Capital Payments previously paid by Licensee to Akebia...
Working Capital Fund. The Accounts Manager shall segregate within the accounts of the Company, or shall when sufficient funds are available set up a separate account at a financial institution convenient to the principal office of the Company, a subaccount to be designated the "Working Capital Fund", from monies received from operations including Contracts. As required for operation and ownership of the Business and after approving resolution of the members monies on deposit in the Working Capital Fund shall be applied to the maintenance of licenses and minimum capital for liability coverage required for the Company to qualify for construction contracts, as well as establish reserves against contingent claims or provision for other unfunded obligations of the Company.
Working Capital Fund. In addition to the Common Expenses and Special Assessments, the Board may levy a Working Capital Fee and each Unit Owner shall be responsible for paying his share of the Working Capital Fee. Working Capital Fees shall be due as provided on the notice related thereto and shall be deemed delinquent as of the fifteenth day following the due date. Any delinquent Special Assessment shall be subject to a late payment fee of ten percent (10%) of the amount owed per annum until paid. The working capital fund shall be held and disbursed for the following purposes in the order of priority:
Working Capital Fund. The NSSC operates under the NASA Working Capital Fund (WCF) in accordance with NASA Procedural Requirements (NPR) 9095.1, “Working Capital Fund Policies and Requirements.” Customers are typically charged for the services they receive via a usage-driven methodology. This approach results in charges based on the estimated value of service provided to the customers. It clearly communicates to the customers their financial commitments for each budget year of the Agency’s Planning, Programming, Budgeting, and Execution (PPBE) submit. Where the NSSC is unable to develop a service charge based upon a usage-driven transaction, a method of equitably distributing the costs of the services to NSSC customers is developed typically based upon some form of workforce distribution. To recover full costs for NSSC services, customer funds must be provided in advance of the expenditure or commitment of the funds by the NSSC. Customer-advanced funding is to be provided to the NSSC incrementally during the fiscal year (FY). Service rates (prices) for each service will approximate the expenses of operation and will be based on a price schedule established through a rate-setting process following the Agency PPBE schedule. The financial goal of the NSSC, operating as a WCF business entity, is to break even for each service. Based on estimated costs and customer consumption, NSSC service rates are calculated as accurately as possible to achieve a neutral Net Operating Result for the FY. Service rates are not changed during the year of execution unless the NSSC is granted a waiver from the NASA CFO, usually as the result of an event that has a significant impact on the NSSC cost of operations or on Agency strategic direction. In the event that a customer overruns their forecasted utilization, additional funding will be required in that current year using appropriated funds available for obligation at the time of the overutilization. In the event a customer underruns their forecasted utilization, the excess funds will be credited to the periodic Intra-Governmental Payment and Collection System (IPACs) in the following year assuming the current year funds remain available for obligation in the following year. The NSSC and customers must work diligently each year to minimize credit balances rolling from the current year into the following year to ensure any possible expiring funds balances per customer are minimized. For workforce based services, there is no risk of utilization underr...
Working Capital Fund. In order to insure that the Association will have cash necessary to fund the operation of the Association, a reserve and working capital fund will be established. Funding will be supplied by Owners by payment at the closing of every Lot (and each successive closing thereafter) the sum designated by the Board in the annual budget year but no less than $200, which will be for the use and benefit of the Association. Amounts paid into the funds are not to be considered to be advance payment of regular assessments.
