Revolving Capital definition

Revolving Capital means a fund, a revolving fund, capital money, revolving capital money, a capital or a revolving capital, which is established for a business of which incomes are permitted to be expended without being required to be remitted to the Treasury;
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Revolving Capital. The Members agree that IHP’s Maximum Capital Commitment shall decrease (i) in subsequent Phases as the sales of Units occur, and (ii) to an amount reasonably determined by IHP as the budget for each subsequent Phase is approved by IHP. Advances by IHP shall be made based upon a written request (a “Request for Funds”) submitted to IHP by the Managing Member in accordance with the requirements contained in Exhibit “D” attached hereto. Notwithstanding the foregoing, IHP shall have the right to make capital contributions by advancing funds to or on behalf of the Company notwithstanding any objection by Developer if, in IHP’s discretion, said amounts are required to preserve and/or protect IHP’s investment in the Company or the Company’s interest in the Project. IHP shall have the right to elect, in its discretion, to consider such advances as Base Capital, Revolving Capital or as Additional Capital, and any such advances shall be credited to IHP’s Capital Account and Unrecovered Capital Account when funded. IHP shall notify Developer of amounts, if any, IHP elects to fund pursuant to the previous sentence, which notice shall specify whether such advances are to be treated as part of Base Capital, Revolving Capital or as Additional Capital. The failure of IHP to so specify shall constitute an election to consider such advances as Additional Capital.
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Revolving Capital means, with respect to any Lender, the aggregate amounts paid to, or on behalf of, the Borrower in connection with all Revolving Loans made by such Lender pursuant to Article II, as reduced from time to time by Collections distributed and applied on account of such Revolving Capital pursuant to Section 4.01; provided, that if such Revolving Capital shall have been reduced by any distribution and thereafter all or a portion of such distribution is rescinded or must otherwise be returned for any reason, such Revolving Capital shall be increased by the amount of such rescinded or returned distribution as though it had not been made.
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Examples of Revolving Capital in a sentence

  • Each Senior Secured Creditor shall copy notice of its vote to the Intercreditor Agent, to each Facility Agent and, as appropriate, the Revolving Capital Facility Lenders, each Additional Lender and each Hedging Counterparty notified by the Intercreditor Agent pursuant to Clause 33.1.2(iii) (Notices of Required Decisions).

  • At the discretion of the Board of Directors, the Fixed Capital Fund may initially consist of the amount of any Revolving Capital Fund outstanding upon creation of the Fixed Capital Fund.

  • First, to IHP, until and to the extent required to reduce the balance of accrued and unpaid Revolving Capital Preferred Return to zero (0).

  • No assignment or transfer of Revolving Capital Fund credits or Fixed Capital Fund credits, whether voluntary, by operation of law or otherwise, shall entitle the assignee or transferee to receive any moneys from the Association unless the Association has consented in writing thereto.

  • IHP shall have the right to elect, in its discretion, to consider such advances as Base Capital, Revolving Capital or as Additional Capital, and any such advances shall be credited to IHP’s Capital Account and Unrecovered Capital Account when funded.

  • None of the Revolving Capital Fund credits or Fixed Capital Fund credits created under this Article XII shall bear interest.

  • Moneys contributed to any Revolving Capital Fund or to the Fixed Capital Fund by withholdings or otherwise shall constitute and represent invested capital and may be used by the Association for the payment of debts, liabilities, or losses, the acquisition of capital assets, to provide operating capital, or for the accomplishment of any legitimate objectives or purposes of the Association, without limitation, and without liability for replenishment by reason of any use thereof so made.

  • Next, to IHP, until and to the extent required to reduce the positive balance of the portion of IHP’s Unrecovered Capital Account attributable to Revolving Capital to zero (0).

  • IHP’s Unrecovered Capital Account shall be credited with amounts funded by IHP as its Base Capital as well as its Revolving Capital in accordance with Section 2.02(a) below, and any Additional Capital funded by it as herein provided.

  • IHP shall notify Developer of amounts, if any, IHP elects to fund pursuant to the previous sentence, which notice shall specify whether such advances are to be treated as part of Base Capital, Revolving Capital or as Additional Capital.

Related to Revolving Capital

  • Working Capital Borrowings means borrowings incurred pursuant to a credit facility, commercial paper facility or similar financing arrangement that are used solely for working capital purposes or to pay distributions to the Partners; provided that when such borrowings are incurred it is the intent of the borrower to repay such borrowings within 12 months from the date of such borrowings other than from additional Working Capital Borrowings.

  • Revolving Credit Commitment Amount means with respect to any Revolving Credit Lender, (i) if the Revolving Credit Aggregate Commitment has not been terminated, the amount specified opposite such Revolving Credit Lender’s name in the column entitled “Revolving Credit Commitment Amount” on Schedule 1.2, as adjusted from time to time in accordance with the terms hereof; and (ii) if the Revolving Credit Aggregate Commitment has been terminated (whether by maturity, acceleration or otherwise), the amount equal to its Percentage of the aggregate principal amount outstanding under the Revolving Credit (including the outstanding Letter of Credit Obligations and any outstanding Swing Line Advances).

  • Working Capital Loans means any loan made to Acquiror by any of the Sponsor, an Affiliate of the Sponsor, or any of Acquiror’s officers or directors, and evidenced by a promissory note, for the purpose of financing costs incurred in connection with a Business Combination.

  • Revolving Credit Availability means, at any particular time, the amount by which (x) the Aggregate Revolving Loan Commitment at such time exceeds (y) the Dollar Amount of the Revolving Credit Obligations outstanding at such time.

  • Revolving Loan Commitment Amount means, on any date, $30,000,000, as such amount may be reduced from time to time pursuant to Section 2.2.

  • Revolving Credit Committed Amount has the meaning described in Section 2.1.1 (Revolving Credit Facility).

  • Revolving Committed Amount shall have the meaning set forth in Section 2.1(a).

  • Revolving Commitment Amount means, as to any Lender, the Revolving Commitment amount (if any) set forth opposite such Lender’s name on Schedule 1.1 hereto (or, in the case of any Lender that became party to this Agreement after the Closing Date pursuant to Section 16.3(c) or (d) hereof, the Revolving Commitment amount (if any) of such Lender as set forth in the applicable Commitment Transfer Supplement).

  • Revolving Credit Commitment Fee shall have the meaning assigned to such term in Section 2.05(a).

  • Term Loan Committed Amount shall have the meaning set forth in Section 2.2(a).

  • Revolving Loan Availability means at any time the lesser of (a) the Revolving Loan Commitment or (b) the Borrowing Base Amount.

  • Revolving Credit Commitment Percentage means, as to any Revolving Credit Lender at any time, the ratio of (a) the amount of the Revolving Credit Commitment of such Revolving Credit Lender to (b) the Revolving Credit Commitment of all the Revolving Credit Lenders.

  • Revolving Credit Commitment means, as to each Revolving Credit Lender, its obligation to (a) make Revolving Credit Loans to the Borrower pursuant to Section 2.01(b), (b) purchase participations in L/C Obligations, and (c) purchase participations in Swing Line Loans, in an aggregate principal amount at any one time outstanding not to exceed the amount set forth opposite such Lender’s name on Schedule 2.01 under the caption “Revolving Credit Commitment” or opposite such caption in the Assignment and Assumption pursuant to which such Lender becomes a party hereto, as applicable, as such amount may be adjusted from time to time in accordance with this Agreement.

  • LOC Committed Amount shall have the meaning set forth in Section 2.3(a).

  • Revolving Credit Facility means, at any time, the aggregate amount of the Revolving Credit Lenders’ Revolving Credit Commitments at such time.

  • Revolving Credit Commitments means the aggregate Revolving Credit Commitments of all of the Lenders.

  • Working Capital Lender means any Lender that has a Working Capital Commitment.

  • Revolving Loan Commitment means, for each Bank, the amount set forth opposite such Bank's name in Schedule I directly below the column entitled "Revolving Loan Commitment," as same may be (x) reduced from time to time pursuant to Sections 3.02, 3.03 and/or 10 or (y) adjusted from time to time as a result of assignments to or from such Bank pursuant to Section 1.13 or 13.04(b).

  • Revolving Loan Commitments means such commitments of all Lenders in the aggregate.

  • Revolving Credit Aggregate Commitment means Seventy-Five Million Dollars ($75,000,000), subject to reduction or termination under Sections 2.11 or 9.2 hereof.

  • Revolving Loan Commitment Percentage means, as to any Lender, (a) on the Closing Date, the percentage set forth opposite such Lender’s name on the Commitment Annex under the column “Revolving Loan Commitment Percentage” (if such Lender’s name is not so set forth thereon, then, on the Closing Date, such percentage for such Lender shall be deemed to be zero), and (b) on any date following the Closing Date, the percentage equal to the Revolving Loan Commitment Amount of such Lender on such date divided by the Revolving Loan Commitment on such date.

  • Total Revolving Credit Commitment means, at any time, the aggregate amount of the Revolving Credit Commitments, as in effect at such time. The initial Total Revolving Credit Commitment is $90,000,000.

  • Working Capital Loan has the meaning specified in Section 2.1(c).

  • Revolving Credit Loans as defined in Section 2.1.

  • Total Revolving Credit Commitments at any time, the aggregate amount of the Revolving Credit Commitments then in effect.

  • Revolving Credit Commitment Period the period from and including the Closing Date to the Revolving Credit Termination Date.