Working Capital Line Clause Samples

Working Capital Line. Subject to the terms of this Indenture, the Company shall use its best efforts to maintain a revolving credit facility or similar arrangement, with the Company and PCI Chemicals Canada Company as the borrowers thereunder, as provided for in the effective Plan of Reorganization, to the extent it deems necessary based on its cash position and cash flows needed to fund the foreseeable capital expenditure and working capital requirements of the Company and PCI Chemicals Canada Company and their respective Subsidiaries, taken as a whole.

Working Capital Line. Caster hereby agrees to loan amounts to Newco, from time to time, during the first four (4) months immediately following the Closing Date, not to exceed $200,000 in the aggregate, upon request by Prime, to cover any actual deficit in working capital that Newco may experience. The parties agree that amounts borrowed must be repaid by Newco prior to Newco's distribution of any of its earnings to Prime.

Working Capital Line. As collateral security for the Working Capital Line, a first priority security interest in favor of First American in the following: (i) All of the right, title and interest of the Pledgors in and to the accounts receivable of the Pledgors, whether now existing or hereafter arising; (ii) All of the right, title and interest of the Pledgors in and to all equipment, furnishings, and furniture of the Pledgors, whether now owned or hereafter acquired, provided (1) such security interest shall not include equipment leased by the Pledgors, and (2) with respect to the equipment, furnishings and furniture located at Projects financed under the Acquisition Line, First American shall have a second priority security interest in such equipment, furnishings and furniture located at such Projects, subject only to the security interest in favor of GMAC-CM); (iii) All of the general intangibles and other personal property of the Pledgors, whether now existing or hereafter acquired or arising, provided, with respect to the general intangibles located at, or arising from the operation of, a Project financed under the Acquisition Line, First American shall have a second priority security interest in such general intangibles, subject only to the security interest in favor of GMAC-CM; (iv) All of the right, title and interest of the Pledgors in and to all inventory, whether now owned or hereafter acquired, provided, with respect to the inventory located at, or arising from the operation of, a Project financed under the Acquisition Line, First American shall have a second priority security interest in such inventory, subject only to the security interest in favor of GMAC-CM; and (v) All of the proceeds therefrom, including, without limitation, all proceeds of any policies of insurance on any of the foregoing, provided, with respect to the proceeds located at, or arising from the operation of, a Project financed under the Acquisition Line, First American shall have a second priority security interest in such proceeds, subject only to the security interest in favor of GMAC-CM. Notwithstanding the foregoing, First American shall have no security interest in any Collateral related to the Omega Facilities or the TDLP Homes, except that with regard to the accounts receivable pledged to First American hereunder, First American shall have a first priority security interest in the first $3,000,000 of Omega Receivables, in accordance with the Omega Subordination Agreement, a second prior...

Working Capital Line. The Borrower may repay all or any portion -------------------- of the principal balance of the Working Capital Line from time to time until the termination of the Working Capital Line (as to which, see Article 12, below).

Working Capital Line. (a) One or more of the Consenting Holders shall provide a working capital line (subject to negotiation and execution of mutually agreeable documentation) of up to $15,000,000 (the “Working Capital Line”), if necessary, to be available to the Company prior to the Closing, which may be pari passu with the First Lien Notes (or senior in priority to the First/Second/Third Notes) and senior to any other debt obligation of the Company, provided that: (i) the proceeds from disbursements under the Working Capital Line shall be used solely to pay expenses incurred in the ordinary course of operations of the Company or in connection with payments to be made in connection with the Merger; (ii) interest payable on the Working Capital Line shall not exceed 10% per annum; and (iii) the documentation governing the Working Capital Line shall (w) require any lenders thereunder to comply with covenants substantially similar to those set forth in Section 4.1, (x) grant the Purchaser the right to acquire, at par plus accrued interest, any loans outstanding under the Working Capital Line, (y) include such other terms as may be reasonably requested by the Purchaser and (z) otherwise be on substantially the same terms as the First Lien Notes. (b) Each of the Consenting Holders providing the Working Capital Line agrees to work in good faith with the Company to negotiate and enter into any documentation required for the Working Capital Line within 30 days after the date of this Agreement.

Working Capital Line. Existing Gaming Assets Owner shall make available to Tenant a revolving line of credit in the principal amount of the Working Capital Line Note Amount to be used by Tenant solely as working capital for the Gaming Operations and for no other purpose (the “Working Capital Line”). The Working Capital Line shall be evidenced by a revolving lien of credit agreement and promissory note in the form of Exhibit “C” hereto (the “Working Capital Note”), and will accrue interest at a rate of one and twenty-five hundredths percent (1.25%) per month, compounded annually, from the date of disbursement until repayment, and will be payable in accordance with Section 4.2. Tenant shall provide Landlord with a written draw request for sums to be advanced under the Working Capital Line not less than ten (10) business days prior to the date requested for such advance (or, if proceeds from a draw are needed by Tenant within less than ten (10) business days in order to stay current on obligations of the Gaming Operations, Tenant may request a shorter period of time for funding, but in no event less than two (2) business days). Advances under the Working Capital Line shall be funded by wire transfer to Tenant’s designated account.

Working Capital Line. In the case of an Index Rate Loan, the Borrower shall give First American irrevocable notice (a "Borrowing Notice") not later than 1:00 p.m. Nashville time on the day of disbursement. In the case of a LIBOR Loan, the Borrower shall provide the Borrowing Notice not later than 1:00 p.

Working Capital Line. The maximum principal amount outstanding from time to time under the Working Capital Line shall not exceed $15,000,000.00.

Working Capital Line. The Bank hereby agrees, subject to the terms and conditions of this Agreement, to make Credit Loans consisting of LIBOR Rate Loans or Federal Funds Effective Rate Loans available to the Company from time to time on and after the date of this Agreement through and including the Working Capital Line Maturity Date, in an aggregate principal amount not to exceed the lesser of (i) the Working Capital Line Credit Limit or (ii) the Borrowing Base. Until the Working Capital Line Maturity Date, the Company may borrow, repay, and reborrow such Credit Loans up to the maximum amount thereof, subject to the mandatory principal reductions set forth in Section 2.8(b) hereof and sufficient Borrowing Base availability. Notwithstanding anything to the contrary set forth herein, the Company may utilize proceeds of Credit Loans obtained by the Company under the Working Capital Line to pay down outstanding amounts owing in connection with the Accommodation Line, subject to sufficient Borrowing Base availability.