Availability Reserve. A reserve against Availability determined by Bank in its sole discretion from time to time to reflect events, conditions, contingencies or risks or other loans of Bank which without limitation do or may affect the Collateral Loan Value, the business prospects of Borrower or any Account Debtor, or the security interest of Bank, including enforceability, perfection and the priority thereof.
Availability Reserve. Reference is made to that certain Amendment to Account Purchase Agreement and Other Documents entered into, effective as of October 1, 2012, by and between the Customer and WFBC (the “CHOICE Amendment”). Section 2(a)(2) of the CHOICE Amendment states that WFBC may establish reserves, in its sole discretion, with respect to the Available Amount (as that term is defined in the CHOICE Amendment). The Customer acknowledges that, as of the date hereof, for the purpose of determining the Available Amount (as that term is defined in the CHOICE Amendment) under this Agreement and each Affiliate Account Purchase Agreement, WFBC is establishing a reserve in an aggregate amount equal to $2,000,000, which amount may be increased or decreased by WFBC from time to time in its sole discretion.
Availability Reserve. Lender agrees that the Availability Reserve -------------------- established to address discrepancies in inventory reporting by the Borrowers shall be reduced from One Million Dollars ($1,000,000.00) to Five Hundred Thousand Dollars ($500,000.00).
Availability Reserve. An Availability Reserve shall be established in the amount of Thirty Five Thousand Dollars ($35,000) per month beginning on August 1, 2002 and continuing for each month until December 1, 2002.
Availability Reserve. In order to induce Lender to enter this Amendment, each Borrower hereby acknowledges that as of the date hereof, Lender shall establish and maintain a permanent reserve against the Revolving Loan Limit in an amount equal to $300,000 and increasing by $50,000 on first Business Day of each week thereafter until the amount of such permanent reserve equals $500,000.
Availability Reserve. Agent shall have the right from time to time to revise the Availability Reserve to cover amounts owed by Borrower to Farm Product Sellers for Farm Products directly or indirectly purchased by Borrower from such Farm Product Sellers (i) if the Farm Products or any proceeds thereof are or could become subject to a Lien or statutory trust claim under PACA in favor of, or created by, any such Farm Product Sellers; (ii) if a purported Lien or statutory trust claim under PACA has been or may be asserted by any such Farm Product Sellers with respect to any Farm Products or any Accounts of Borrower, or, as to any such Farm Products or Accounts or the proceeds thereof, a Lien upon Farm Products purchased by Borrower is sought to be preserved under the Food Security Act, or a claim is asserted or a remedy is sought under PACA against Borrower, Agent or any Lender by the Secretary of Agriculture or other Governmental Authority; or (iii) if Agent determines that Agent and Lenders or their respective interests in the Collateral are not fully and effectively protected against and entitled to priority over all potential Liens and statutory trust claims upon Farm Products purchased by Borrower directly or indirectly from any Farm Product Sellers involved in the transaction or upon Accounts or other proceeds thereof.
Availability Reserve. No later than five (5) Business Days following the receipt of any Net Asset Sale Proceeds from a Specified Asset Sale, the Availability Reserve shall be re-calculated to include NAI-0000000000v6 such Net Asset Sale Proceeds. Borrowers shall prepay, with interest and with any additional compensation required under Section 5.5.2, the amount (if any) by which the Dollar Equivalent Revolving Facility Usage at the time of any such re-calculation and after giving effect thereto exceeds the amount of the Revolving Credit Commitments. Each increase in the Availability Reserve pursuant to this Section 5.6.4 shall be allocated to each Bank in proportion to its Ratable Share.
Availability Reserve. The Loan Parties hereby acknowledge that as of April 28, 2021, the Availability Reserve relating to potential accounts payable lien offsets (the “AP Lien Offset Reserve”) has been increased from $2,869,000 to $9,113,000.
Availability Reserve. The parties hereto agree that in addition to any other Reserves established pursuant to this Agreement, if, on or prior to January 31, 2008, the maturity date of the Term Loan Obligations pursuant to the Term Loan Agreement has not been extended to or beyond June 1, 2008 (the “Term Loan Extension”), the Inventory and Receivables Security Agent shall establish: (i) on March 1, 2008, a Reserve on Borrowing Availability equal to fifty percent (50%) of the Term Loan Obligations outstanding on such date and (ii) beginning April 1, 2008, a monthly Reserve equal to 1/6 of the Term Loan Obligations outstanding on such date less the Reserve established in clause (i) hereof, for the immediately succeeding six (6) month period.”
Availability Reserve the sum (without duplication) of (a) the Equipment Reserve; (b) the Rent and Charges Reserve; (c) the Bank Product Reserve; (d) the Dilution Reserve; (e) liabilities secured by Liens upon Collateral that are or may be senior to Agent’s Liens (but imposition of any such reserve shall not waive an Event of Default arising therefrom); and (f) additional reserves, in such amounts and with respect to such matters, as Agent in its Permitted Discretion may elect to impose from time to time.
