Inventory Reserves. The amount of any reserve established by Agent shall have a reasonable relationship to the event, condition or other matter which is the basis for such reserve (or increase thereof) as determined by Agent in good faith.
Inventory Reserves. (A) 100% of the Cost of all Eligible Inventory located at any location the landlord of which has been granted a security interest in the personal property of any Borrower, which landlord has not subordinated to the security interests created herein by an instrument which is reasonably satisfactory to the Lender.
(B) Return to vendor and damaged goods.
(C) Discrepancy store Inventory.
(D) Shrinkage, initially in the amount of $50,000.00 plus 1.2% of the Borrowers' retail sales since the date of the last physical inventory, assuming the physical to book adjustment has been made.
Inventory Reserves. Agent may establish reserves against the ------------------ Borrowing Base in such amounts as Agent in its reasonable credit judgment (from the perspective of an asset-based lender) shall deem necessary or appropriate, for (x) sums that Borrower is required to pay (such as taxes, assessments, insurance premiums, or, in the case of leased assets, rents or other amounts payable under such leases other than locations subject to Collateral Access Agreements) and has failed to pay when due under any section of this Agreement or any other Loan Document and (y) without duplication of the foregoing, amounts owing by Borrower to any Person that the Borrower has not paid when due, to the extent secured by a Lien on, or trust over, any of the Collateral, which Lien or trust, in the reasonable determination of Agent (from the perspective of an asset-based lender), would be likely to have a priority superior to the Liens of Agent (such as landlord liens, ad valorem taxes, or sales taxes where given priority under applicable law) in and to such item of the Collateral.
Inventory Reserves. 17 Section 3.13 Customers and Suppliers ................................................................................. 18 Section 3.14 Insurance .......................................................................................................... 18 Section 3.15 Legal Proceedings; Orders ............................................................................... 19 Section 3.16 Compliance with Laws; Permits ...................................................................... 19 Section 3.17
Inventory Reserves. All inventory of the Companies, including, without limitation, all raw materials, work in process, supplies, finished goods and other materials salable in the Ordinary Course of Business, whether or not reflected in the Financial Statements, (a) was acquired and has been maintained in the Ordinary Course of Business and (b) consists of a quality and quantity usable and salable in the Ordinary Course of Business, except for obsolete, damaged, defective or slow-moving items that have been written off or written down to fair market value or for which adequate reserves have been established. All such inventory is owned by the Companies free and clear of any and all Encumbrances, except for Permitted Encumbrances, which Permitted Encumbrances are not material to the operation, function or efficiency of the Companies’ business, and no inventory is held on a consignment basis. The quantities of each item of such inventory are not excessive, but are reasonable in the present circumstances of the Companies. All such inventory of the Companies is located at the Real Property and there is no such inventory of any Company with customers, distributors, Representatives or other Persons 17 302010047 v18
Inventory Reserves. As of the Effective Date, the following Inventory Reserves shall be implemented in the corresponding amounts:
(i) Shrink: In an amount to be determined by the Lender from time to time, but in no event less than $50,000.00 at any time.
(ii) Borrower's Codes: 961—Delia's Outlet Liquidations $ 227,490 962—Delia's Premier Liquidations $ 684,048 971—Delia's Outlet RTV $ 2,858 972—Delia's Premier RTV $ 64,037 981—Delia's Premier Damages $ 173,824 982—Delia's Outlet Damages $ 0.00 991—Outlet Discrepancy Store $ 0.00 992—Premier Discrepancy Store $ 3,503 998—Dummy Store $ 0.00 000—Distribution Warehouse $ 0.00 010—Event Sale Warehouse $ 0.00 The Lender reserves its right as set forth under the Loan Agreement to increase the amounts of the foregoing Reserves, or to establish additional Reserves, in the Lender's sole and exclusive discretion. Any such increase to an existing Reserve or establishment of a new Reserve shall take effect upon the next Business Day after receipt by the borrower of written notice thereof from the Lender.
Inventory Reserves. As defined in the First Lien Credit Agreement.
Inventory Reserves. Such reserves as may be established from time to time by the Administrative Agent in the Administrative Agent's discretion with respect to the determination of shrink, the saleability, at retail, of the Eligible Inventory, decreases in cumulative xxxx-ups from historical or industry norms, or which reflect such other factors as affect the market value of the Eligible Inventory.
Inventory Reserves. As reflected on the initial Borrowing Base Certificate furnished to the Agent.
Inventory Reserves. $0.00 as an amalgam of the Inventory Reserves applicable at the execution of this Agreement.
