applicable Reserves. Sub Limits: 1) Letters of Credit denominated in Dollars limited to $30,000,000.
applicable Reserves. Subject to the provisions hereof expressly permitting the Administrative Agent to adjust Reserves, the Canadian Borrowing Base at any time shall be determined by reference to the most recent Borrowing Base Certificate delivered to the Administrative Agent pursuant to Section 5.01(e) (or, prior to the first such delivery, delivered to the Administrative Agent pursuant to Section 4.01(r)). “Canadian Collateral” means any and all property of any Canadian Loan Party covered by the Collateral Documents and any and all other property of any Canadian Loan Party, now existing or hereafter acquired, that may at any time be or become subject to a security interest or Xxxx in favor of the Administrative Agent to secure the Canadian Secured Obligations.
applicable Reserves. Subject to the provisions hereof expressly permitting the Administrative Agent to adjust Reserves, the Canadian FILO Borrowing Base at any time shall be determined by reference to the most recent Borrowing Base Certificate delivered to the Administrative Agent pursuant to Section 5.01(e) (or, prior to the first such delivery, delivered to the Administrative Agent pursuant to Section 6(c) of the First Amendment). “Canadian FILO Loan” means a FILO Loan made by the FILO Lenders to any Canadian Borrower. “Canadian FILO Reserve” means the amount, if any, by which the outstanding amount of the Canadian FILO Loans exceeds the Canadian FILO Borrowing Base. “Canadian FILO Sublimit” means $3,000,000.
applicable Reserves. Subject to the provisions hereof expressly permitting the Administrative Agent to adjust Reserves, the U.S. Borrowing Base at any time shall be determined by reference to the most recent Borrowing Base Certificate delivered to the Administrative Agent pursuant to Section 5.01(e) (or, prior to the first such delivery, delivered to the Administrative Agent pursuant to Section 4.01(r)). “U.S. Collateral” means any and all property owned, leased or operated by a U.S. Loan Party covered by the Collateral Documents and any and all other property of any U.S. Loan Party, now existing or hereafter acquired, that may at any time be or become subject to a security interest or Lien in favor of the Administrative Agent to secure the Secured Obligations.
applicable Reserves. Subject to the provisions hereof expressly permitting the Administrative Agent to adjust Reserves, the U.S. FILO Borrowing Base at any time shall be determined by reference to the most recent Borrowing Base Certificate delivered to the Administrative Agent pursuant to Section 5.01(e) (or, prior to the first such delivery, delivered to the Administrative Agent pursuant to Section 6(c) of the First Amendment). “U.S. FILO Loan” means a FILO Loan made by the FILO Lenders to any U.S. Borrower. “U.S. FILO Reserve” means the amount, if any, by which the outstanding amount of the U.S. FILO Loans exceeds the U.S. FILO Borrowing Base. “U.S. Government Securities Business Day” means any day except for (a) a Saturday, (b) a Sunday or (c) a day on which the Securities Industry and Financial Markets Association recommends that the fixed income departments of its members be closed for the entire day for purposes of trading in United States government securities. “U.S. Guaranteed Obligations” has the meaning set forth in Section 10.01.
applicable Reserves. Subject to the provisions hereof expressly permitting the Administrative Agent to adjust Reserves, the Canadian Borrowing Base at any time shall be determined by reference to the most recent Borrowing Base Certificate delivered to the Administrative Agent pursuant to Section 5.01(e) (or, prior to the first such delivery, delivered to the Administrative Agent pursuant to Section 4.01(r)). “Canadian Collateral” means any and all property of any Canadian Loan Party covered by the Collateral Documents and any and all other property of any Canadian Loan Party, now existing or hereafter acquired, that may at any time be or become subject to a security interest or Xxxx in favor of the Administrative Agent to secure the Canadian Secured Obligations. “Canadian Defined Benefit Plan” means a Canadian Pension Plan, which contains a “defined benefit provision,” as defined in subsection 147.1(1) of the ITA. “Canadian Economic Sanctions and Export Control Laws” means any Canadian laws, regulations or orders governing transactions in controlled goods or technologies or dealings with countries, entities, organizations, or individuals subject to economic sanctions and similar measures.
applicable Reserves. Subject to the provisions hereof expressly permitting the Administrative Agent to adjust Reserves, the Canadian FILO Borrowing Base at any time shall be determined by reference to the most recent Borrowing Base Certificate delivered to the Administrative Agent pursuant to Section 5.01(e) (or, prior to the first such delivery, delivered to the Administrative Agent pursuant to Section 6(c) of the First Amendment). “Canadian FILO Loan” means a FILO Loan made by the FILO Lenders to any Canadian Borrower. “Canadian FILO Reserve” means the amount, if any, by which the outstanding amount of the Canadian FILO Loans exceeds the Canadian FILO Borrowing Base. “Canadian FILO Sublimit” means $3,000,000. “Canadian Guaranteed Obligation” has the meaning assigned to such term in Section 11.01. “Canadian Guarantor” means each Restricted Subsidiary of a Canadian Borrower that is listed on the signature pages hereto as a Canadian Guarantor or that becomes a party hereto as a Canadian Guarantor pursuant to Section 5.14, in each case, until such Subsidiary’s Canadian Guaranty is released in accordance herewith. “Canadian Guaranty” means Article XI of this Agreement.
applicable Reserves. Subject to the provisions hereof expressly permitting the Administrative Agent to adjust Reserves, the U.S. Borrowing Base at any time shall be determined by reference to the most recent Borrowing Base Certificate delivered to the Administrative Agent pursuant to Section 5.01(e) (or, prior to the first such delivery, delivered to the Administrative Agent pursuant to Section 4.01(r)). “U.S. Collateral” means any and all property owned, leased or operated by a U.S. Loan Party covered by the Collateral Documents and any and all other property of any U.S. Loan Party, now existing or hereafter acquired, that may at any time be or become subject to a security interest or Lien in favor of the Administrative Agent to secure the Secured Obligations. “U.S. Dollar” or “$” means the lawful money of the United States of America. “U.S. FILO Borrowing Base” means: (a) the product of (i) 5% multiplied by (ii) the Eligible Credit Card Accounts of the U.S. Loan Parties at such time, plus (b) the product of (i) 5% multiplied by (ii) the Net Orderly Liquidation Value percentage identified in the most recent inventory appraisal ordered and received by the Administrative Agent multiplied by (iii) the U.S. Loan Parties’ Eligible Inventory (other than Eligible LC Inventory, Eligible In-Transit Inventory, and Eligible Consigned Inventory) at such time, valued at the lower of average cost or market, determined utilizing the retail method, as appropriate, or such other method approved in writing by the Administrative Agent at the request of the Borrower Representative, net of applicable Inventory Reserves, plus (c) the lesser of (i) the result of the product of (x) 5% multiplied by (y) the Net Orderly Liquidation Value percentage identified in the most recent inventory appraisal ordered and received by the Administrative Agent multiplied by (z) the U.S. Loan Parties’ Eligible In-Transit Inventory and Eligible LC Inventory at such time, valued at the lower of average cost or market, determined utilizing the retail method, as appropriate, or such other method approved in writing by the Administrative Agent at the request of the Borrower Representative, net of applicable Inventory Reserves, or (ii) 15% of the U.S. Inventory Availability, plus (d) the product of (i) 5% multiplied by (ii) the Net Orderly Liquidation Value percentage identified in the most recent inventory appraisal ordered and received by the Administrative Agent multiplied by (iii) the U.S. Loan Parties’ Eligible Consig...
applicable Reserves. 71 Subject to the provisions hereof expressly permitting the Administrative Agent to adjust Reserves, the U.S. FILO Borrowing Base at any time shall be determined by reference to the most recent Borrowing Base Certificate delivered to the Administrative Agent pursuant to Section 5.01(e) (or, prior to the first such delivery, delivered to the Administrative Agent pursuant to Section 6(c) of the First Amendment). “
applicable Reserves. Subject to the provisions hereof expressly permitting the Administrative Agent to adjust Reserves, the Borrowing Base at any time shall be determined by reference to the most recent Borrowing Base Certificate delivered to the Administrative Agent pursuant to Section 5.01(e) or as otherwise provided for herein, including, prior to the first such delivery, delivered to the Administrative Agent pursuant to Section 4.01(r).
