Changes to Reserves. The Administrative Agent may hereafter, establish additional Reserves or change any of the foregoing Reserves, in the exercise of Permitted Discretion of the Administrative Agent upon two (2) Business Days’ prior notice to the Lead Borrower, (during which period the Administrative Agent shall be available to discuss any such proposed Reserve with the Borrowers); provided that no such prior notice shall be required for (1) changes to any Reserves resulting solely by virtue of mathematical calculations of the amount of the Reserve in accordance with the methodology of calculation previously utilized, or (2) changes to Reserves or establishment of additional Reserves if a Material Adverse Effect has occurred or it would be reasonably likely that the Lenders would be materially and adversely affected were such Reserve not changed or established prior to the expiration of such two (2) Business Day period.
Changes to Reserves. At the execution of this Agreement, the only Reserves are as follows:
Changes to Reserves. At the execution of this Agreement, the only Reserves are as reflected on the Borrowing Base Certificate, a specimen of which is annexed hereto as EXHIBIT 5.4.
Changes to Reserves. Making of Loans
Changes to Reserves. At the execution of the amendment and restatement of this Agreement, the only Reserves are those in effect, immediately prior to such amendment and restatement.
Changes to Reserves. 21 .. 2-4. Risks of Value of Collateral .. 21 .. 2-5.
Changes to Reserves. At the execution of the within Agreement, the only Reserves established by the Agent are Availability Reserves and are as follows:
Changes to Reserves. At the execution of the amendment and restatement of this Agreement, the only Reserves are as follows:
Changes to Reserves. The following are the Availability Reserves and their maxima:
Changes to Reserves. (a) The initial Availability Reserves as of the Third Amendment Effective Date are the following:
(i) Gift Certificates: An amount equal to fifty percent (50%) of the Subsidiary Borrowers’ gift certificates, gift cards and cardholder rewards cards outstanding from time to time.
