Common use of Establishment of a Reserve Clause in Contracts

Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall establish a reserve. The reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance on that Purchased Receivable (the "Reserve"); provided, the Reserve with respect to all Purchased Receivables outstanding at any one time shall be an amount not less than 20 (%) percent of the Account Balance at that time and may be set at a higher percentage at Buyer's sole discretion. The reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund.

Appears in 11 contracts

Samples: Accounts Receivable Purchase Agreement (Docucon Incorporated), Accounts Receivable Purchase Agreement (Open Market Inc), Factoring Agreement (Gensia Sicor Inc)

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Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall establish a reserve. The reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance on that Purchased Receivable (the "Reserve"); provided, the Reserve with respect to all Purchased Receivables outstanding at any one time shall be an amount not less than 20 (%20(%) percent of the Account Balance at that time and may be set at a higher percentage at Buyer's sole discretion. The reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund.

Appears in 4 contracts

Samples: Accounts Receivable Purchase Agreement (Voxware Inc), Accounts Receivable Purchase Agreement (Superconductor Technologies Inc), Factoring Agreement (Zycad Corp)

Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall establish a reserve. The reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance on that Purchased Receivable (the "Reserve"); provided, the Reserve with respect to all Purchased Receivables outstanding at any one time shall be an amount not less than 20 (%20(%) percent of the Account Balance at that time and may be set at a higher percentage at Buyer's ’s sole discretion. The reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund.

Appears in 3 contracts

Samples: Accounts Receivable Purchase Agreement, Accounts Receivable Purchase Agreement (Aml Communications Inc), Accounts Receivable Purchase Agreement (Zamba Corp)

Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall establish a reserve. The reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance on that Purchased Receivable (the "Reserve"); provided, the Reserve with respect to all Purchased Receivables outstanding at any one time shall be an amount not less than 20 twenty percent (20%) percent of the Account Balance at that time and may be set at a higher percentage at Buyer's sole discretion. The reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund.

Appears in 2 contracts

Samples: Accounts Receivable Purchase Agreement (Nstor Technologies Inc), Accounts Receivable Purchase Agreement (Return on Investment Corp)

Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall establish a reserve. The reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance on that Purchased Receivable (the "Reserve"); provided, the Reserve with respect to all Purchased Receivables outstanding at any one time shall be an amount not less than 20 (%) percent of the Account Balance at that time and may be set at a ------ higher percentage at Buyer's sole discretion. The reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund.

Appears in 2 contracts

Samples: Accounts Receivable Purchase Agreement (Prosoft I Net Solutions Inc), Accounts Receivable Purchase Agreement (Bio Imaging Technologies Inc)

Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Pur- chased Receivable, Buyer shall establish a reserve. The reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance on that Purchased Receivable (the "'Reserve"'); provided, the Reserve with respect to all Purchased Receivables outstanding at any one time shall be an amount not less than 20 (%) percent of the Account Balance at that time and may be set at a higher percentage at Buyer's sole discretion. The reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund.

Appears in 2 contracts

Samples: Factoring Agreement (Source Scientific Inc), Factoring Agreement (Source Scientific Inc)

Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall establish a reserve. The reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance on that Purchased Receivable (the "Reserve"); provided, the Reserve with respect to all Purchased Receivables outstanding at any one time shall be an amount not less than 20 (%20(%) percent of the Account Balance at that time time, and may be set at a higher percentage at Buyer's ’s sole discretion. The reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund.

Appears in 1 contract

Samples: Accounts Receivable Purchase Modification Agreement (Egain Communications Corp)

Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall establish a reserve. The reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance on that Purchased Receivable (the "Reserve"); provided, the Reserve with respect to all Purchased Receivables outstanding at any one time shall be an amount not less than 20 (%10.0(%) percent of the Account Balance at that time and may be set at a higher percentage at Buyer's sole discretion. The reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund.

Appears in 1 contract

Samples: Factoring Agreement (Data Dimensions Inc)

Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall establish a reserve. The reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance on that Purchased Receivable (the "Reserve"); provided, the Reserve with respect to all Purchased Receivables outstanding at any one time shall be an amount not less than 20 (%20%(%) percent of the Account Balance at that time and may be set at a higher percentage at Buyer's sole discretion. The reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Starbase Corp)

Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall establish a reserve. The reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance on that Purchased Receivable (the "Reserve"); provided, the Reserve with respect to all Purchased Receivables outstanding at any one time shall be an amount not less than 20 38 (%) percent of the Account Balance at that time and may be set at a higher percentage at Buyer's sole discretion. The reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Starbase Corp)

Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall establish a reserve. The reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance on that Purchased Receivable (the "Reserve"); provided, the Reserve with respect to all Purchased Receivables outstanding at any one time shall be an the amount not less than 20 (%) percent of the Account Balance at that time and may be set at a higher percentage percentage, at Buyer's sole discretion. The reserve Reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund.

Appears in 1 contract

Samples: Factoring Agreement (Cross Z International Inc)

Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall establish a reserve. The reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance on that Purchased Receivable (the "Reserve"); provided, the Reserve with respect to all Purchased Receivables outstanding at any one time shall be an amount not less than 20 25 (%) percent of the Account Balance at that time and may be set at a higher percentage at Buyer's sole discretion. The reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Xetel Corp)

Establishment of a Reserve. Upon the purchase by Buyer of each the Purchased ReceivableNote, Buyer shall establish a reserve. The reserve shall be the amount by which the face amount of the Purchased Receivable Note exceeds the Advance Amount on that Total Purchased Receivable Note (the "Reserve"); provided, the Reserve with respect to all that Total Purchased Receivables Note outstanding at any one time shall be an amount not less than 20 (%20(%) percent of the Account Balance Total Purchased Note at that the time and may be set at a higher percentage at Buyer's sole discretion. The reserve shall be a the book balance maintained on the records of Buyer and shall not be a segregated fund.

Appears in 1 contract

Samples: Note Purchase Agreement (Radius Inc)

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Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall establish a reserve. The reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance on that Purchased Receivable (the "Reserve"); provided, the Reserve with respect to all Purchased Receivables outstanding at any one time shall be an amount not less than 20 (%35(%) percent of the Account Balance at that time and may be set at a higher percentage at Buyer's sole discretion. The reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Cognigen Networks Inc)

Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall establish a reserve. The reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance on that Purchased Receivable (the "Reserve"); provided, the Reserve with respect to all Purchased Receivables outstanding at any one time shall be an amount not less than 20 15 (%) percent of the Account Balance at that time and may be set at a ------ higher percentage at Buyer's sole discretion. The reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund.

Appears in 1 contract

Samples: Factoring Agreement (Sound Source Interactive Inc /De/)

Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall establish a reserve. The reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance on that Purchased Receivable (the "Reserve"); provided, the Reserve with respect to all Purchased Receivables outstanding at any one time shall be an amount not less than 20 twenty percent (20.0%) percent of the Account Balance at that time and may be set at a higher percentage at Buyer's sole discretion. The reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Log on America Inc)

Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall establish a reserve. The reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance on that Purchased Receivable (the "Reserve"); provided, the Reserve with respect to all Purchased Receivables outstanding at any one time shall be an amount not less than 20 Twenty Percent (20.0%) percent of the Account Balance at that time and may be set at a higher percentage at Buyer's sole discretiondiscretion upon notice to Seller. The reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Peritus Software Services Inc)

Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall establish a reserve. The reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance on that Purchased Receivable (the "Reserve"); provided, the Reserve with respect to all Purchased Receivables outstanding at any one time shall be an amount not less than 20 (%20(%) percent of the Account Balance at that time time, and not less than 35(%) percent with respect to the initial purchase, and such amount may be set at a higher percentage at Buyer's ’s sole discretion. The reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Egain Communications Corp)

Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall establish a reserve. The reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance on that Purchased Receivable (the "Reserve"); provided, the Reserve with respect to all Purchased Receivables outstanding at any one time shall be an amount not less than 20 (%30(%) percent of the Account Balance at that time and may be set at a higher percentage at Buyer's sole discretion. The reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (P Com Inc)

Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall establish a reserve. The reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance on that Purchased Receivable (the "Reserve"); provided, the Reserve with respect to all Purchased Receivables outstanding at any one time shall be an amount not less than 20 Twenty Percent (%20.0) percent of the Account Balance at that time and may be set at a higher percentage at Buyer's sole discretion. The reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund.

Appears in 1 contract

Samples: Accounts Receivable Purchase Agreement (Focus Enhancements Inc)

Establishment of a Reserve. Upon the purchase by Buyer of each Purchased Receivable, Buyer shall establish a reserve. The reserve shall be the amount by which the face amount of the Purchased Receivable exceeds the Advance advance on that Purchased Receivable (the "Reserve"); provided, the Reserve with respect to all Purchased Receivables outstanding at any one time shall be an amount not less than 20 (%20(%) percent of the Account Balance at that time and may be set at a higher percentage at Buyer's sole discretion. The reserve shall be a book balance maintained on the records of Buyer and shall not be a segregated fund.

Appears in 1 contract

Samples: Factoring Agreement (Oxis International Inc)

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