Working Capital Cap definition

Working Capital Cap has the meaning given in Section 5.2(a)(i) of the Depositary Agreement.

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Working Capital Cap means an amount equal to $89,000,000.

Working Capital Cap means (a) $93,500,000, plus (b) an amount equal to all unpaid interest, fees, costs, expenses, indemnities, and other unpaid amounts accrued or charged with respect to any of the Working Capital Obligations (other than principal and with respect to interest and fees or other charges accruing on principal amounts in excess of the amount in clause (a) above, minus, (c) without duplication, any permanent payment of the Working Capital Obligations and any permanent reduction obligations of the commitments to make extensions of credit under the Working Capital Notes (but excluding any refinancing of the Working Capital Notes permitted under the terms of the Secured Notes Documents).

Examples of Working Capital Cap in a sentence

• If the Estimated Net Working Capital is greater than the Target Net Working Capital Maximum, then the Closing Date Cash Consideration will be increased by an amount equal to (x) the Estimated Net Working Capital minus (y) the Target Net Working Capital (provided, that, in no event shall the Closing Date Cash Consideration be increased with respect to Net Working Capital by more than the Working Capital Cap) (such amount, the “Working Capital Overage”).

• If the Estimated Net Working Capital is less than the Target Net Working Capital Minimum, then the Closing Date Cash Consideration will be reduced by an amount equal to (x) the Target Net Working Capital minus (y) the Estimated Net Working Capital (provided, that, in no event shall the Closing Date Cash Consideration be reduced with respect to Net Working Capital by more than the Working Capital Cap) (the “Working Capital Deficiency”).

• Notwithstanding the foregoing, if at any time during the Term, Zogenix determines the book value of the inventory of Materials and unreleased Finished Goods that are held by Zogenix in connection with the Manufacture of Product minus the accounts payable associated with such Materials and unreleased Finished Goods exceeds the Working Capital Cap by more than [***], then Zogenix may inform Endo of the same and the Parties shall discuss in good faith and agree upon an adjustment to such Working Capital Cap.

• The forecast for the [***] following the Effective Date shall serve as the baseline for the Working Capital Cap, which cap shall be adjusted upwards or downwards on each anniversary of the Effective Date based on (i) changes in foreign exchange rates and (ii) the change between the baseline forecast and the current forecast.

• Thus, if on the Effective Date the forecast annual volume was [***] units, on the first anniversary date the forecast annual volume was [***] units, and on the second anniversary date the forecast annual volume was [***] units, the Working Capital Cap would be [***] of $7,000,000, or $[***] for the second year of the agreement and [***] of $7,000,000, or $[***], for the third year of the Agreement.

More Definitions of Working Capital Cap

Working Capital Cap means, at any time, an amount in U.S. Dollars equal to the aggregate amount of gross sales of Aracruz Celulose for the two (2) calendar months then most recently ended.

Working Capital Cap means an amount equal to $5,632,843.

Working Capital Cap has the meaning given to such term in Section 2.2(c).

Working Capital Cap means $3,000,000.