Common use of Loans and Reserves Clause in Contracts

Loans and Reserves. Lender agrees, for so long as no Default or Event of Default exists, to make Revolving Credit Loans to Borrower from time to time, as requested by Borrower in the manner set forth in subsection 3.1.1 hereof, up to a maximum principal amount at any time outstanding equal to the Borrowing Base at such time less reserves, if any. Lender shall have the right to establish reserves in such amounts, and with respect to such matters, as Lender shall deem necessary or appropriate, against the amount of Revolving Credit Loans which Borrower may otherwise request under this subsection 1.1.1, including, without limitation, with respect to (i) price adjustments, damages, unearned discounts, returned products or other matters for which credit memoranda are issued in the ordinary course of Borrower's business; (ii) shrinkage, spoilage and obsolescence of Inventory; (iii) slow moving Inventory, (iv) other sums chargeable against Borrower's Loan Account as Revolving Credit Loans under any section of this Agreement; (v) amounts owing by Borrower to any Person to the extent secured by a Lien (other than a Permitted Lien) on, or trust over, any Collateral of Borrower; and (vi) such other matters, events, conditions or contingencies as to which Lender, in its sole credit judgment, determines reserves should be established from time to time hereunder.

Loans and Reserves. Lender agrees, for so long as no Default or Event of Default existsexists and subject to the satisfaction of the applicable conditions precedent set forth in Sections 9 and 9A, to make Revolving Credit Loans to Borrower from time to time, as requested by Borrower in the manner set forth in subsection 3.1.1 hereof, up to a maximum principal amount at any time outstanding equal to the Borrowing Base at such time less minus the LC Amount and reserves, if any. Lender shall have the right to establish reserves in such amounts, and with respect to such matters, as Lender in good faith shall deem reasonably necessary or appropriate, against the amount of Revolving Credit Loans which Borrower may otherwise request under this subsection 1.1.1, including, without limitation, with respect to (ia) price adjustments, damages, unearned discounts, returned products or other matters for which credit memoranda are issued in the ordinary course of Borrower's business; (iib) shrinkage, spoilage spoilage, and obsolescence of Inventory; (iiic) slow moving Inventory, (iv) other sums chargeable against Borrower's Loan Account as Revolving Credit Loans under any section of this Agreement; (vd) amounts owing by Borrower to any Person to the extent secured by a Lien (other than a Permitted Lien) on, or trust over, any Collateral Property of Borrower; and (vie) such other matters, events, conditions conditions, or contingencies as to which Lender, in its sole credit judgment, determines reserves should be established from time to time hereunder.

Loans and Reserves. Lender agrees, for so long as no Default nx Xxxxult or Event of Default exists, to make Revolving Credit Loans to Borrower from time to time, as requested by Borrower in the manner set forth in subsection 3.1.1 hereof, up to a maximum principal amount at any time outstanding equal to the Borrowing Base at such time less minus reserves, if any. Lender shall have the right to establish reserves in such amounts, and with respect to such matters, as Lender shall deem necessary or appropriate, against the amount of Revolving Credit Loans which Borrower may otherwise request under this subsection 1.1.1, including, without limitation, with respect to (i) price adjustments, damages, unearned discounts, returned products or other matters for which credit memoranda are issued in the ordinary course of Borrower's business; (ii) shrinkage, spoilage and obsolescence of Inventory; (iii) slow moving Inventory, (iv) other sums chargeable against Borrower's Loan Account as Revolving Credit Loans under any section of this Agreement; (viv) amounts owing by Borrower to any Person to the extent secured by a Lien (other than a Permitted Lien) on, or trust over, any Collateral Property of Borrower; and (viv) such other matters, events, conditions or contingencies as to which Lender, in its sole credit judgment, determines reserves should be established from time to time hereunder. The Revolving Credit Loans shall be further evidenced by the Revolving Credit Note and shall be secured by all of the Collateral.

Loans and Reserves. Lender agrees, for so long as no Default or Event of Default exists, to make Revolving Credit Loans to Borrower from time to time, as requested by Borrower in the manner set forth in subsection 3.1.1 3.1.1(a) hereof, up to a maximum principal amount at any time outstanding equal not to exceed the Borrowing Base at such time less reserves, if anyRevolver Availability. Lender shall have the right to establish reserves in such amounts, and with respect to such matters, as Lender shall deem necessary or appropriate, against the amount of Revolving Credit Loans which Borrower may otherwise request under this subsection 1.1.1, including, without limitation, with respect to (i) price adjustments, damages, unearned discounts, returned products or other matters for which credit memoranda are issued in the ordinary course of Borrower's business; (ii) shrinkage, spoilage and obsolescence of Inventory; (iii) slow moving Inventory, ; (iv) other sums chargeable against Borrower's Loan Account as Revolving Credit Loans under any section of this Agreement; (v) amounts owing by Borrower to any Person to the extent secured by a Lien (other than a Permitted Lien) on, or trust over, any Collateral Property of Borrower; and (vi) such other matters, events, conditions or contingencies as to which Lender, in its sole credit judgment, determines reserves should be established from time to time hereunderhereunder (the "Reserves"). The Revolving Credit Loans shall be repayable in accordance with the terms of Section 3.2.1(a) and shall be secured by all of the Collateral.

Loans and Reserves. Lender agreesLenders agree, during the term of this Agreement and for so long as no Default or Event of Default exists, to make Revolving Credit Loans to Borrower from time to time, as requested by Borrower in the manner set forth in subsection Section 3.1.1 hereof, up to a maximum principal amount at any time outstanding equal to the Borrowing Base at such time less reservestime; provided, if anyhowever, that each Lender's obligation to make Revolving Credit Loans hereunder is several and not joint in nature, and, except as otherwise specifically provided herein, no Lender shall be obligated to make more than its Pro Rata Share of any Revolving Credit Loan. Lender Agent shall have the right to establish reserves in such amounts, and with respect to such matters, as Lender shall Agent shall, in its reasonable credit judgment, deem necessary or appropriate, against the amount of Revolving Credit Loans which Borrower may otherwise request under this subsection Section 1.1.1, including, without limitation, with respect to (i) price adjustments, damages, unearned discounts, returned products or other matters for which credit memoranda are issued in the ordinary course of Borrower's business; (ii) shrinkage, spoilage and obsolescence of Inventory; (iii) slow moving Inventory, (iv) other sums chargeable against Borrower's Loan Account as Revolving Credit Loans under any section of this Agreement; (vii) amounts owing by Borrower to any Person to the extent secured by a Lien (other than a Permitted Lien) on, or trust over, any Collateral Property of Borrower; (iii) all amounts of past due rent or other charges owing at such time by Borrower to any landlord of any premises where any of the Collateral is located; and (viiv) such other matters, events, conditions or contingencies as to which LenderAgent, in its sole credit judgment, determines reserves should be established from time to time hereunder. Subject to the terms and conditions of this Agreement, Borrower shall have the right to borrow, repay and reborrow Revolving Credit Loans.

Loans and Reserves. Lender agrees, for so long as no Default or Event of Default exists, to make Revolving Credit Loans to Borrower Borrowers from time to time, as requested by Borrower Borrowers in the manner set forth in subsection 3.1.1 hereof, up to a maximum principal amount at any time outstanding equal to the Borrowing Base at such time less reserves, if any. Lender shall have the right to establish reserves in such amounts, and with respect to such matters, as Lender shall deem necessary or appropriate, against the amount of Revolving Credit Loans which Borrower Borrowers may otherwise request under this subsection 1.1.1, including, without limitation, with respect to (i) price adjustments, damages, unearned discounts, returned products or other matters for which credit memoranda are issued in the ordinary course of Borrower's Borrowers' business; (ii) shrinkage, spoilage and obsolescence of Inventory; (iii) slow moving Inventory, (iv) other sums chargeable against Borrower's Borrowers' Loan Account as Revolving Credit Loans under any section of this Agreement; (v) amounts owing by Borrower Borrowers to any Person to the extent secured by a Lien (other than a Permitted Lien) on, or trust over, any Collateral of BorrowerBorrowers; and (vi) such other matters, events, conditions or contingencies as to which Lender, in its sole credit judgment, determines reserves should be established from time to time hereunder.