Common use of Borrowing Base; Reserves Clause in Contracts

Borrowing Base; Reserves. The Borrowing Base of each Borrower shall ------------------------ be determined by Lender (including the eligibility of Accounts and Inventory) based on the most recent Borrowing Base Certificate delivered to Lender in accordance with Section 4.1(b) and such other information available to Lender. Without limiting any other rights and remedies of Lender hereunder or under the other Loan Documents, the Revolving Credit Loan shall be subject to Lender's continuing right to withhold from any Borrower's Borrowing Availability reserves, and to increase and decrease such reserves from time to time, if and to the extent that in Lender's good faith credit judgment such reserves are necessary, including to protect Lender's interest in the Collateral or to protect Lender against possible non-payment of Accounts for any reason by Account Debtors or possible diminution of the value of any Collateral or possible non-payment of any of the Obligations or for any Taxes or in respect of any state of facts which could constitute a Default. Lender may, at its option, implement reserves by designating as ineligible a sufficient amount of Accounts or Inventory which would otherwise be Eligible Accounts or Eligible Inventory, as the case may be, so as to reduce any Borrower's Borrowing Base by the amount of the intended reserves.

Borrowing Base; Reserves. The Operating Loan Borrowing Base of each Borrower and the EDC Loan Borrowing Base shall ------------------------ be determined by Lender (including the eligibility of Accounts and Inventory) based on the most recent Borrowing Base Certificate Certificates delivered to Lender in respect of the Operating Loan and the EDC Loan, as applicable, in accordance with Section 4.1(b4.1(a) and such other information available to Lender. Without limiting any other rights and remedies of Lender hereunder or under the other Loan Documents, the The Revolving Credit Loan Loans shall be subject to Lender's ’s continuing right to withhold from any Borrower's Borrowing Bon-owing Availability reserves, and to increase and decrease such reserves from time to time, if and to the extent that in Lender's ’s good faith credit judgment such reserves are necessary, including to protect Lender's ’s interest in the Collateral or to protect Lender against possible non-payment of Accounts for any reason by Account Debtors or possible diminution of the value of any Collateral or possible non-payment of any of the Obligations or for any Taxes or in respect of any state of facts which could constitute a Default. Lender may, at its option, implement reserves by designating as ineligible a sufficient amount of Accounts or Inventory which would otherwise be Eligible Accounts or Eligible Inventory, as the case may be, so as to reduce any Borrower's the Operating Loan Borrowing Base or the EDC Loan Borrowing Base, as applicable, by the amount of the intended reserves.

Borrowing Base; Reserves. The Borrowing Base of each Borrower shall ------------------------ be determined by Lender (including the eligibility of Accounts and InventoryAccounts) based on the most recent Borrowing Base Certificate information delivered to Lender in accordance with Section 4.1(b) respect to Borrower's Accounts and such other information available to Lender. Without limiting any other rights and remedies of Lender hereunder or under the other Loan Documents, the The Revolving Credit Loan shall be subject to Lender's continuing right to withhold from any Borrower's Borrowing Availability reserves, and to increase and decrease such reserves from time to time, if and to the extent that in Lender's good faith credit judgment such reserves are necessary, including to protect Lender's interest in the Collateral or to protect Lender against possible non-payment of Accounts for any reason by Account Debtors or possible diminution of the value of any Collateral or possible non-payment of any of the Obligations or for any Taxes or in respect of any state of facts which could constitute a Default, or if, in Lender's good faith credit judgment, the ability of Borrower to pay or perform its Obligations under this Agreement or any other agreement with Lender becomes doubtful or insecure, or additional reserves are necessary to protect Lender against returns, claims or defenses of Borrower's customers with respect to Eligible Accounts or any other contingencies. Lender may, at its option, implement reserves by designating as ineligible a sufficient amount of Accounts or Inventory which would otherwise be Eligible Accounts or Eligible Inventory, as the case may be, so as to reduce any Borrower's the Borrowing Base by the amount of the intended reserves.

Borrowing Base; Reserves. The Borrowing Base of each Borrower shall ------------------------ be determined by Lender (including the eligibility of Accounts and Inventory) based on the most recent Borrowing Base Certificate delivered to Lender in accordance with Section 4.1(b) and such other information available to Lender. Without limiting any other rights and remedies of Lender hereunder or under the other Loan Documents, the Revolving Credit Loan shall be subject to Lender's continuing right to withhold from any Borrower's Borrowing Availability reserves, and to increase and decrease such reserves from time to time, if and to the extent that in Lender's good faith credit judgment such reserves are necessary, including to protect Lender's interest in the Collateral or to protect Lender against possible non-payment of Accounts for any reason by Account Debtors or possible diminution of the value of any Collateral Inventory or possible non-payment of any of the Obligations or for any Taxes taxes or customs duties or in respect of any state of facts which could constitute a Default. Lender may, at its option, implement reserves by designating as ineligible a sufficient amount of Accounts or Inventory which would otherwise be Eligible Accounts or Eligible Inventory, as the case may be, so as to reduce any Borrower's the Borrowing Base by the amount of the intended reserves.

Borrowing Base; Reserves. The Borrowing Base of each Borrower shall ------------------------ be determined by Lender (including the eligibility of Accounts and Inventory) based on the most recent Borrowing Base Certificate delivered to Lender in accordance with Section 4.1(b) and such other information available to Lender. Without limiting any other rights and remedies of Lender hereunder or under the other Loan Documents, the Revolving Credit Loan shall be subject to Lender's continuing right to withhold from any Borrower's Borrowing Availability reserves, and to increase and decrease such reserves from time to time, if and to the extent that in Lender's good faith credit judgment such reserves are necessary, including to protect Lender's interest in the Collateral or to protect Lender against possible non-payment of Accounts for any reason by Account Debtors or possible diminution of the value of any Collateral Inventory or possible non-payment of any of the Obligations or for any Taxes taxes or customs duties or in respect of any state of facts which could constitute a Default. Lender may, at its option, implement reserves by designating as ineligible a sufficient amount of Accounts or Inventory which would otherwise be Eligible Accounts or Eligible Inventory, as the case may be, so as to reduce any Borrower's the Borrowing Base by the amount of the intended reserves. Without limiting the foregoing, Lender shall on a quarterly basis (or at any time after the occurrence of a Default) establish reserves for Borrower's Inventory consisting of partially filled or opened containers.

Borrowing Base; Reserves. The Borrowing Base of each Borrower shall ------------------------ be determined by Lender (including the eligibility of Accounts and InventoryLease Receivables) based on the most recent Borrowing Base Certificate delivered to Lender in accordance with Section 4.1(b5.1(b) and such other information available to Lender. Without limiting any other rights and remedies of Lender hereunder or under the other Loan Documents, the Revolving Credit Loan shall be subject to Lender's continuing right to withhold from any Borrower's Borrowing Availability reserves, and to increase and decrease such reserves from time to time, if and to the extent that in Lender's good faith reasonable credit judgment and sole discretion such reserves are necessary, including to protect Lender's interest in the Collateral or to protect Lender against possible non-payment of Accounts Lease Receivables for any reason by Account Debtors or possible diminution of the value of any Collateral or possible non-payment of any of the Obligations or for any Taxes taxes or customs duties or in respect of any state of facts which could constitute a Default. Lender may, at its option, implement reserves by designating as ineligible a sufficient amount of Accounts or Inventory Lease Receivables which would otherwise be Eligible Accounts or Eligible InventoryLease Receivables, as the case may be, so as to reduce any Borrower's the Borrowing Base by the amount of the intended reserves.