Sponsor Temporary Working Capital Loan definition

Sponsor Temporary Working Capital Loan means a loan made to the Borrower by the Sponsor solely for use by the Borrower to purchase canola seed for processing at the Project, which loan may be secured solely by the Borrower’s interest in such canola seed and in identifiable cash proceeds thereof and which shall have terms, including interest rates and tenor, satisfactory to the Agent and shall be subject to documentation and an intercreditor agreement in form and substance satisfactory to the Agent; provided, however, that the principal amount of such loan shall not exceed at any time $10,500,000.
Sample 1
Sponsor Temporary Working Capital Loan means one or more loans made to the Borrower by the Sponsor prior to the Project Construction Completion Date, the proceeds of which are solely for use by the Borrower to purchase canola seed for processing at the Project and for related hedging activities (including, without limitation, the posting of margin collateral in a Permitted Commodity Account for the purpose of hedging the price of canola seed, canola oil, canola meal and natural gas), which loan or loans may be secured solely by the Borrower’s interest in the Sponsor Temporary Working Capital Loan Collateral, and which loan or loans shall have terms, including interest rates and tenor, satisfactory to the Agent and shall be subject to documentation and an intercreditor agreement in form and substance satisfactory to the Agent; provided, however, that the outstanding principal amount of such loan or loans shall not exceed in the aggregate at any time $10,500,000.
Sample 1

Examples of Sponsor Temporary Working Capital Loan in a sentence

  • PICO hereby further agrees that, to the extent that any document or instrument executed by the Borrower in favor of PICO grants any Lien on any of the Credit Agreement Collateral, other than the Sponsor Temporary Working Capital Loan Collateral, PICO hereby releases and terminates any such Lien as to such Credit Agreement Collateral.

  • Proceeds of any Working Capital Facility Loan made on the Project Construction Completion Date may be used to repay any outstanding amounts owed by the Borrower with respect to the Sponsor Temporary Working Capital Loan.

  • According to CDC, symptoms include “frequent coughing or wheezing; excess phlegm or sputum; shortness of breath; trouble taking a deep breath.” https://www.cdc.gov/copd/features/copd-symptoms-diagnosis-treatment.html, as viewed August 20, 2020.3.2 Willingness to Pay Estimates‌In this section, we review the WTP literature for nonfatal illnesses with symptoms similar to those of COVID-19.

Related to Sponsor Temporary Working Capital Loan

  • Working Capital Advance has the meaning specified in Section 2.01(c).

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

  • 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.

  • Working Capital Assets has the meaning as set forth in the Recitals of this Agreement.

  • Working Capital Facility means, at any time, the aggregate amount of the Working Capital Lenders' Working Capital Commitments at such time.

  • Closing Date Working Capital has the meaning specified in Section 2.3(b).

  • Working Capital Amount shall have the meaning specified in Section 3.4(e).

  • Base Working Capital means negative USD$250,000 in aggregate for the Target Entities.

  • Net Working Capital Amount means, with respect to a Participating McNeil Partnership, the excess of the Positive Excess Cash Balance of such Participating McNeil Partnership over the cash on hand of such Participating McNeil Partnership immediately prior to the Effective Time.

  • Working Capital Target means $0.

  • Target Working Capital Amount means Nineteen Million Dollars ($19,000,000).

  • Final Closing Working Capital has the meaning set forth in Section 2.5(d).

  • Closing Working Capital means: (a) the Current Assets of the Company, less (b) the Current Liabilities of the Company, determined as of the close of business on the Closing Date.

  • Net Working Capital Target means $0.00.

  • 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.

  • Consolidated Working Capital Adjustment means, for any period on a consolidated basis, the amount (which may be a negative number) by which Consolidated Working Capital as of the beginning of such period exceeds (or is less than) Consolidated Working Capital as of the end of such period.

  • Target Net Working Capital Amount means $5,000,000.

  • Final Working Capital has the meaning set forth in Section 2.4(b)(iii).

  • Estimated Closing Working Capital has the meaning set forth in Section 2.04(a)(ii).

  • Working Capital Adjustment has the meaning set forth in Section 2.15(b).

  • Net Working Capital Adjustment means (a) the amount by which Net Working Capital as of immediately prior to the Closing exceeds Target Net Working Capital or (b) the amount by which Net Working Capital as of immediately prior to the Closing is less than Target Net Working Capital, in each case, if applicable; provided, that any amount which is calculated pursuant to clause (b) above shall be deemed to be a negative number.

  • Closing Date Net Working Capital means the Net Working Capital as of the Closing Date.

  • Final Net Working Capital shall have the meaning set forth in Section 2.3(b)(ii).

  • Net Working Capital Adjustment Amount means an amount (which may be a positive or negative number) equal to (a) the Closing Date Net Working Capital minus (b) the Target Net Working Capital.

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

  • Working Capital Adjustment Amount means the amount (which may be positive or negative) equal to the result of the Closing Net Working Capital minus the Target Working Capital Amount.