Operating Capital. To any extent necessary after taking into account Manager's loans under Article V, below, the Owner shall provide the Manager with such amount of working capital as may be required from time to time for the operation of the Business on a sound financial basis (including the payment of all amounts owed to Manager including, but not limited to, the payment of all management fees, reimbursable expenses and amounts due under the Line of Credit). If additional working capital is required, the Manager shall notify the Owner thereof in writing and the Owner shall provide the Manager with such increase in working capital within fifteen (15) days thereafter. If the Owner fails to provide such additional working capital, Manager may, but is not obligated to, provide the same as a loan to the Owner.
Appears in 2 contracts
Sources: Management Agreement (Integrated Health Services Inc), Management Agreement (Community Care of America Inc)