Working capital funds means funds established for providing advance financing of appropriations should there be a temporary liquidity shortfall and for such other purposes as the Assemblies of Member States and of the Unions, each as far as it is concerned, shall decide.
Working capital funds means a funds established for providing advance financing of appropriations should there be a temporary liquidity shortfall and for
Working capital funds. Borrower shall use the Working Capital Funds for Property related costs and expenses and Borrower shall not declare or pay any dividends or otherwise declare or make any distribution to Borrower’s members from such Working Capital Funds. The Working Capital Account will be under the sole control and dominion of Administrative Agent, for the benefit of Lenders, except, so long as no Event of Default is continuing, Borrower shall have the right to make withdrawals from the Working Capital Account. Upon the occurrence and during the continuance of an Event of Default, Borrower shall no longer have any right to withdraw Working Capital Funds from the Working Capital Account, as further set forth in the Working Capital Account Agreement, and Administrative Agent may apply any Working Capital Funds on deposit in the Working Capital Account to the payment of the Debt in such order, proportion and priority as Administrative Agent may determine in its sole and absolute discretion. Borrower shall pay for all expenses of opening and maintaining the Working Capital Account. Any remaining Working Capital Funds after the Debt has been repaid in full shall be disbursed to Borrower. At or prior to the Closing Date, Borrower shall establish and maintain the Working Capital Account as a segregated Eligible Account pursuant to the terms of the Working Capital Account Agreement with the Working Capital Bank, which such Working Capital Account shall be in trust for the benefit of Lenders and shall be under the sole dominion and control of Borrower prior to an Event of Default and thereafter, Administrative Agent, for the benefit of Lenders. Borrower (i) hereby grants to Administrative Agent, for the benefit of Lenders a first priority security interest in the Working Capital Account and all deposits at any time contained therein and the proceeds thereof, and (ii) will take all actions necessary to maintain in favor of Administrative Agent, for the benefit of Lenders a perfected first priority security interest in the Working Capital Account, including, without limitation, the execution of any account control agreement required by Administrative Agent. Borrower shall not further pledge, assign or grant any security interest in the Working Capital Account or the monies deposited therein or permit any lien or encumbrance to attach thereto, or any levy to be made thereon, or any UCC-1 financing statements, except those naming Administrative Agent, for the benefit of Lenders as the...
Examples of Working capital funds in a sentence
Working capital funds finance additional inventory for support items such as spare parts.
Working capital funds finance unanticipated increases in support costs such as fuel.
Working capital funds set aside pursuant to G.S. 18B-805 shall be established by rule of the Commission.
Working capital funds shall be kept to meet short-term liquidity problems pending receipt of contributions.
Working capital funds, the Corps of Engineers Civil Works Revolving Fund, and other DOD revolving fund accounts may not waive reimbursement of any amount.
More Definitions of Working capital funds
Working capital funds shall have the meaning set forth in Section 8.11.
Working capital funds means funds established for providing advance financing of appropriations should there be a temporary liquidity shortfall and for such other purposes as the Assemblies of Member States and of the Unions, each as far as it is concerned, shall decide (Financial Rule 101.3 (q) and Regulation 4.3).The Financial Regulations and Rules (FRR) of WIPO also reflect the ownership and the authority of the Paris, Berne, Madrid, Hague, IPC, Nice, PCT, Lisbon, Locarno and Vienna Unions in respect of the Organization’s Reserves and Working Capital Funds as follows: If, after the closure of the financial period, any Union shows a surplus of income, such surplus shall be accounted for under the reserve funds, unless otherwise decided by the General Assembly or the Assembly of the Union concerned. (Regulation 4.7 ) As decided by the Assembly of the Madrid Union, and under Article 8(4) of the Madrid Agreement, the surplus of the Madrid Union’s income over expenditure is distributed to Member States. The requirements set out under Article 8(4) of the Madrid Agreement and Protocol in respect of the distribution of the Madrid Union Surpluses specifically state that: ”The annual product of the various receipts from international registration, with the exception of the receipts derived from the fees mentioned in paragraph (2)(ii) and (iii), shall be divided equally among the Contracting Parties by the International Bureau, after deduction of the expenses and charges necessitated by the implementation of this Protocol.” Accordingly, while the surplus generated under all other Unions will automatically be retained as part of the Organization’s RWCF, the surplus related to the Madrid Union is paid out to Member States unless they otherwise decide. If, after the closure of the financial period, any Union shows a deficit, not coverable out of reserve funds, the General Assembly of WIPO or the Assemblies of the interested Unions, as the case may be, shall decide upon measures to redress the financial situation (Regulation 4.8). The working capital funds of the Organization and of the Paris, Berne, Madrid, Hague, IPC, Nice, PCT, Lisbon, Locarno and Vienna Unions shall be established in amounts to be determined by the Assemblies of the Member States and of the Unions, each as far as it is concerned. (Regulation 4.2). II. WIPO’S POLICY ON RESERVES In addition to the above, which provides a clear definition of the Organization’s RWCF, WIPO had an explicit Policy on Reserves in place, adopte...
Working capital funds shall have the meaning set forth in Section 2.6.1. “Zoning Report” shall mean the zoning report prepared with respect to the Property by the Planning & Zoning Resource Company dated May 17, 2023. Section 1.2
Working capital funds. Section 4.1(j)
Working capital funds means the amount necessary, as reasonably determined by Manager from time to time with Owner’s approval, to cover [***] months of Operating Expenses, as such amount may be increased upon request by Manager and approved by Owner.
Working capital funds means funds established for providing advance financing of appropriations should there be a temporary liquidity shortfall and for such other purposes as the Assemblies of Member States and of the Unions, each as far as it is concerned, shall decide (Financial Rule 101.3 (q) and Regulation 4.3).The Financial Regulations and Rules (FRR) of WIPO also reflect the ownership and the authority of the Paris, Berne, Madrid, Hague, IPC, Nice, PCT, Lisbon, Locarno and Vienna Unions in respect of the Organization’s Reserves and Working Capital Funds as follows.If, after the closure of the financial period, any Union shows a surplus of income, such surplus shall be accounted for under the reserve funds, unless otherwise decided by the General Assembly or the Assembly of the Union concerned. (Regulation 4.7 )The working capital funds of the Organization and of the Paris, Berne, Madrid, Hague, IPC, Nice, PCT, Lisbon, Locarno and Vienna Unions shall be established in amounts to be determined by the Assemblies of the Member States and of the Unions, each as far as it is concerned. (Regulation 4.2 )
Working capital funds means funds established for providing advance financing of appropriations should there be a temporary liquidity shortfall and for such other purposes as the Assemblies of Member States and of the Unions, each as far as it is concerned, shall decide (Financial Rule 101.3(q) and Regulation 4.3).Historically, a complex system of reserves and working capital funds had been established for the Unions during the life of WIPO and its predecessor Organizations, as part of the implementation of the international agreements and treaties. As the Unions of WIPO evolved, with differing growth rates, the risks faced by the different Unions were not reflected dynamically in the level of the Union Reserves. Similarly, the Union Working Capital Funds, which were established at the time the Unions came into operation, remained static, not reflecting the changing liquidity requirements.