Working Capital Reserve. Twenty Thousand Dollars ($20,000) of Working Capital reserve shall be maintained by Manager in the Disbursement Account during the term hereof, used in connection with the operation of the Project in accordance with the terms hereof and restored per the terms of Sections 4.03 hereof.
Working Capital Reserve. On the Closing Date, the Initial Member and the Private Owner shall fund, as Capital Contributions to the Company, the Working Capital Reserve Account in accordance with the provisions of Section 12.11 hereof and Section 1 of the Transferred LLC Interest Sale Agreement, which funds shall be used for payment of Working Capital Expenses in accordance with the provisions in such Section 12.11 and as otherwise permitted pursuant to the Custodial and Paying Agency Agreement.
Working Capital Reserve. The Managing General Partner shall have the right to cause the Partnership to set up a Working Capital Reserve and to set aside therein such funds as the Managing General Partner, in its sole and absolute discretion, shall determine to be reasonable in connection with the operation of the business of the Partnership. Any funds set aside for such Working Capital Reserve may be invested by the Managing General Partner with a view to the appropriate degree of safety of and return on such invested funds, and such funds shall not be available for current distribution under Section 6.5; provided, however, that some or all of such funds may subsequently be made available for distribution pursuant to Section 6.5 should the Managing General Partner, in its sole and absolute discretion, so elect. The Working Capital Reserve established and maintained pursuant to this Section 7.5 shall be in addition to any reserves established and maintained by the Managing General Partner to implement the Successor Policy pursuant to Section 8.6.
Working Capital Reserve. A reasonable working capital reserve per for each Project, as determined by Owner in its sole discretion, shall be delivered by Owner to Manager concurrently with Owner's execution and delivery hereof, to be maintained by Manager during the term hereof, used in connection with the operation of the Project in accordance with the terms hereof, and restored per the terms of Sections 4.4 and 4.5 hereof.
Working Capital Reserve. 8.5.1 On the date hereof, Borrower shall deposit with Lender the sum set forth on Exhibit K hereto as the Working Capital Reserve to be held in an account maintained at a bank designated by Lender and pledged to Lender as additional collateral for the Loan (the "Working Capital Reserve Account"). The Working Capital Reserve Account shall be an interest-bearing account and all interest earned thereon shall become part of the Working Capital Reserve Account for the benefit of Borrower.
Working Capital Reserve. The Managing Members shall use their best efforts to maintain a working capital reserve of two percent (2%) of the aggregate Adjusted Capital Contributions and to restore such reserve if depleted.
Working Capital Reserve. The Partnership shall establish a reserve (the "Working Capital Reserve") in the amount of $218,000.00 at Initial Closing. The First Priority Lender shall hold the Working Capital Reserve on behalf of the Partnership. With the consent of the First Priority Lender and Notice to AHF, the Wichita GP may make withdrawals from the Working Capital Reserve solely for the purpose of paying the costs permitted under the Escrow Agreement for Working Capital between the First Priority Lender and the Partnership executed in connection with the First Priority Loan. Upon release by the First Priority Lender, any balance in the Working Capital Reserve shall be distributed as Net Cash Flow pursuant to Section 9.1 of this Agreement.
Working Capital Reserve. At Loan closing, Borrower shall deposit $5,000,000.00 into a custodial account in the name of Borrower held with Lender or other national bank designated by Lender which shall be reserved strictly for hedging purposes and as provided in this Section 4.05, and Borrower shall be required to provide sufficient evidence of use acceptable to Lender prior to any funding from such working capital reserve. The balance of any loan or contingent grant by the Iowa Department of Economic Development to Borrower will be reserved against the amount of this working capital reserve account and Borrower will not have access to such funds to this extent.
Working Capital Reserve. At any time and from time to time, the Managers may establish and maintain a reserve of working capital (the “Working Capital Reserve”). If and to the extent the Managers determine that funds in the Working Capital Reserve that have not been utilized by the Company are no longer required to be so maintained, such funds will be released from the Working Capital Reserve and treated as Distributable Cash.
Working Capital Reserve. Borrower shall at all times maintain a reserve account (which shall be a Sub-Account of the Operating Account) in which there shall at all times be deposited no less than $4,000,000.00 (the "Working Capital Reserve"); provided, however, that such amount may be reduced during each Fiscal Quarter by any permitted expenditures from such account, as set forth in the Approved Operating Budget, so long as the Working Capital Reserve is replenished to no less than $4,000,000.00 within thirty (30) days following the end of such Fiscal Quarter in accordance with this Section and Section 12.3. Without Lender's prior written consent, Borrower shall not use funds held in the Working Capital Reserve for any expenses other than expenses provided for in the Approved Operating Budget. Within thirty (30) days of the end of each Fiscal Quarter, Borrower shall provide Lender with a detailed report, together with receipts, invoices and other evidence satisfactory to Lender, specifying the application of any funds withdrawn from the Working Capital Reserve during such Fiscal Quarter. Lender shall also have the right to audit Borrower's records with respect to such expenditures in accordance with the terms of Section 7.9. .........................................................12 2.16
