Common use of Revolving Loans; Reserves Clause in Contracts

Revolving Loans; Reserves. (a) Subject to the terms and conditions set forth herein, each Revolving Lender severally agrees to make loans (each such loan, a “Revolving Loan”) to the Borrowers from time to time, on any Business Day during the Availability Period, in an aggregate outstanding amount not to exceed at any time the lesser of (x) the amount of such Revolving Lender’s Revolving Commitment, or (y) such Revolving Lender’s Applicable Percentage of the Borrowing Base, subject in each case to the following limitations: (i) after giving effect to any Committed Borrowing under this Section 2.01, the aggregate Outstanding Amount of the Revolving Loans of any Revolving Lender, plus such Revolving Lender’s Applicable Percentage of the Outstanding Amount of all LC Obligations, plus such Revolving Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s Revolving Commitment, (ii) the Outstanding Amount of all LC Obligations shall not at any time exceed the Letter of Credit Sublimit, and (iii) after giving effect to any Revolving Borrowing, the Total Outstandings under the Revolving Credit Facility shall not exceed the Loan Cap. Within the limits of each Revolving Lender’s Revolving Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01(a), prepay under Section 2.05, and reborrow under this Section 2.01(a). Revolving Loans may be Base Rate Loans or LIBO Rate Loans, as further provided herein. (b) The Administrative Agent shall (i) have the right, at any time and from time to time after the Closing Date in its Permitted Discretion to establish, and modify or eliminate, Reserves, and (ii) so long as no Cash Dominion Trigger Period shall exist, give the Lead Borrower two (2) Business Days prior written notice before any such change becomes effective.

Revolving Loans; Reserves. (a) Subject to the terms and conditions set forth herein, each Revolving Lender severally agrees to make loans (each such loan, a “Revolving Loan”) to the Borrowers Borrower from time to time, on any Business Day during the Availability Period, in an aggregate outstanding amount not to exceed at any time outstanding the lesser of (x) the amount of such Revolving Lender’s Revolving Commitment, or (y) such Revolving Lender’s Applicable Percentage of the Borrowing Base, ; subject in each case to the following limitations: (i) after giving effect to any Committed Borrowing under this Section 2.01Revolver Borrowing, the aggregate Outstanding Amount of Total Revolving Exposure shall not exceed the Loan Cap; (ii) after giving effect to any Revolver Borrowing, the Revolving Loans Exposure of any Revolving Lender, plus such Revolving Lender’s Applicable Percentage of the Outstanding Amount of all LC Obligations, plus such Revolving Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans Lender shall not exceed such Lender’s Revolving Commitment,; and (iiiii) the Outstanding Amount of all LC L/C Obligations shall not at any time exceed the Letter of Credit Sublimit, and (iii) after giving effect to any Revolving Borrowing, the Total Outstandings under the Revolving Credit Facility shall not exceed the Loan Cap. Within the limits of each Revolving Lender’s Revolving Commitment, and subject to the other terms and conditions hereof, the Borrowers Borrower may borrow under this Section 2.01(a), prepay under Section 2.05, and reborrow under this Section 2.01(a). Revolving Loans may be Base Rate Loans or LIBO Rate Eurodollar RateTerm SOFR Loans, as further provided herein. (b) The Administrative Inventory Reserves and Availability Reserves as of the Closing Date are set forth in the Borrowing Base Certificate delivered pursuant to Section 4.01(c) hereof. (c) The Agent shall (i) have the right, at any time and from time to time after the Closing Date in its Permitted Discretion to establish, and modify or eliminate, Reserves, and eliminate Reserves upon the Reserves Notice Period (ii) so long as no Cash Dominion Trigger Period during which period the Agent shall exist, give the Lead Borrower two (2) Business Days prior written notice before be available to discuss in good faith any such change becomes effective.proposed Reserve with the Borrower and the Borrower may take such action as may be required so that the event, condition or matter that is the basis for such Reserve or modification no longer exists; provided, that (x) no such prior notice shall be required for Bank 66

Revolving Loans; Reserves. (a) Subject to the terms and conditions set forth herein, each Revolving Lender severally agrees to make loans (each such loan, a “Revolving Loan”) to the Borrowers from time to time, on any Business Day during the Availability Period, in an aggregate outstanding amount not to exceed at any time the lesser of (x) the amount of such Revolving Lender’s Revolving Credit Commitment, or (y) such Revolving Lender’s Applicable Percentage of the Borrowing Base, subject in each case to the following limitations: (i) after giving effect to any Committed Borrowing under this Section 2.01, the aggregate Outstanding Amount of the Revolving Loans of any Revolving Lender, plus such Revolving Lender’s Applicable Percentage of the Outstanding Amount of all LC Obligations, plus such Revolving Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans Loans, plus such Revolving Lender’s Applicable Percentage of Protective Advances shall not exceed such Lender’s Revolving Credit Commitment, (ii) the Outstanding Amount of all LC Obligations shall not at any time exceed the Letter of Credit Sublimit, and, (iii) after giving effect to any Revolving Committed Borrowing, the Total Outstandings under the Revolving Credit Facility shall not exceed the Loan CapCap or result in an Overadvance. Within the limits of each Revolving LenderXxxxxx’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01(a), prepay under Section 2.05, and reborrow under this Section 2.01(a). Revolving Loans may be Base Rate Loans or LIBO Rate Term SOFR Loans, as further provided herein. It is acknowledged and agreed that Revolving Loans made pursuant to the Existing Agreement and outstanding on the Restatement Effective Date shall be deemed to be Loans and Revolving Loans made hereunder, and from and after the Restatement Effective Date shall be subject to and governed by the terms and conditions hereof. (b) The Administrative Agent shall (i) have the right, at any time and from time to time after the Closing Date upon not less than two (2) Business Days’ prior notice, in its Permitted Discretion to establish, and modify or eliminate, Reserves; provided, and that during such notice period, solely for purposes of any determination of the Borrowing Base in connection with a Request for Credit Extension, the Borrowing Base shall be calculated after giving effect to such Reserves; provided, further, that that no such prior notice shall be required (iia) so long as no Cash Dominion Trigger Period shall existfor 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, give (b) for changes to Reserves or establishment of additional Reserves if a Material Adverse Effect has occurred or it could be reasonably likely that a Material Adverse Effect could occur were such Reserve not changed or established prior to the Lead Borrower expiration of such two (2) Business Days prior written notice before any such change becomes effectiveDay period, or (c) if an Event of Default shall have occurred and be continuing.

Revolving Loans; Reserves. (a) Subject to the terms and conditions set forth herein, each Revolving Lender severally agrees to make loans (each such loan, a “Revolving Loan”) to the Borrowers from time to time, on any Business Day during the Availability Period, in an aggregate outstanding amount not to exceed at any time the lesser of (x) the amount of such Revolving Lender’s Revolving Credit Commitment, or (y) such Revolving Lender’s Applicable Percentage of the Borrowing Base, subject in each case to the following limitations: (i) after giving effect to any Committed Borrowing under this Section 2.01, the aggregate Outstanding Amount of the Revolving Loans of any Revolving Lender, plus such Revolving Lender’s Applicable Percentage of the Outstanding Amount of all LC Obligations, plus such Revolving Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans Loans, plus such Revolving Lender’s Applicable Percentage of Protective Advances shall not exceed such LenderXxxxxx’s Revolving Credit Commitment, (ii) the Outstanding Amount of all LC Obligations shall not at any time exceed the Letter of Credit Sublimit, and (iii) after giving effect to any Revolving Borrowing, the Total Outstandings under the Revolving Credit Facility shall not exceed the Loan Cap. Within the limits of each Revolving LenderXxxxxx’s Revolving Credit Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01(a), prepay under Section 2.05, and reborrow under this Section 2.01(a). Revolving Loans may be Base Rate Loans or LIBO Rate Loans, as further provided herein. (b) The Administrative Agent shall (i) have the right, at any time and from time to time after the Closing Date in its Permitted Discretion to establish, and modify or eliminate, Reserves, and (ii) so long as no Cash Dominion Trigger Period shall exist, give the Lead Borrower two (2) Business Days prior written notice before any such change becomes effective.Section

Revolving Loans; Reserves. (a) Subject to the terms and conditions set forth herein, each Revolving Lender severally agrees to make loans (each such loan, a “Revolving Loan”) to the Borrowers from time to time, on any Business Day during the Availability Period, in an aggregate outstanding amount not to exceed at any time the lesser of (x) the amount of such Revolving Lender’s Revolving Commitment, or (y) such Revolving Lender’s Applicable Percentage of the Borrowing Base, subject in each case to the following limitations: (i) after giving effect to any Committed Borrowing under this Section 2.01, the aggregate Outstanding Amount of the Revolving Loans of any Revolving Lender, plus such Revolving Lender’s Applicable Percentage of the Outstanding Amount of all LC Obligations, plus such Revolving Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans shall not exceed such Lender’s Revolving Commitment, (ii) the Outstanding Amount of all LC Obligations shall not at any time exceed the Letter of Credit Sublimit, and (iii) after giving effect to any Revolving Borrowing, the Total Outstandings under the Revolving Credit Facility shall not exceed the Loan Cap. Within the limits of each Revolving Lender’s Revolving Commitment, and subject to the other terms and conditions hereof, the Borrowers may borrow under this Section 2.01(a), prepay under Section 2.05, and reborrow under this Section 2.01(a). Revolving Loans may be Base Rate Loans or LIBO Rate RateTerm SOFR Loans, as further provided herein. (b) The Administrative Agent shall (i) have the right, at any time and from time to time after the Closing Date in its Permitted Discretion to establish, and modify or eliminate, Reserves, and (ii) so long as no Cash Dominion Trigger Period shall exist, give the Lead Borrower two (2) Business Days prior written notice before any such change becomes effective.

Revolving Loans; Reserves. (a) Subject to the terms and conditions set forth herein, each Revolving Lender severally agrees to make loans (each such loan, a “Revolving Loan”) to the Borrowers Borrower from time to time, on any Business Day during the Availability Period, in an aggregate outstanding amount not to exceed at any time outstanding the lesser of (x) the amount of such Revolving Lender’s Revolving Commitment, or (y) such Revolving Lender’s Applicable Percentage of the Borrowing Base, ; subject in each case to the following limitations: (i) after giving effect to any Committed Borrowing under this Section 2.01Revolver Borrowing, the aggregate Outstanding Amount of Total Revolving Exposure shall not exceed the Loan Cap; (ii) after giving effect to any Revolver Borrowing, the Revolving Loans Exposure of any Revolving Lender, plus such Revolving Lender’s Applicable Percentage of the Outstanding Amount of all LC Obligations, plus such Revolving Lender’s Applicable Percentage of the Outstanding Amount of all Swing Line Loans Lender shall not exceed such Lender’s Revolving Commitment,; and (iiiii) the Outstanding Amount of all LC L/C Obligations shall not at any time exceed the Letter of Credit Sublimit, and (iii) after giving effect to any Revolving Borrowing, the Total Outstandings under the Revolving Credit Facility shall not exceed the Loan Cap. Within the limits of each Revolving Lender’s Revolving Commitment, and subject to the other terms and conditions hereof, the Borrowers Borrower may borrow under this Section 2.01(a), prepay under Section 2.05, and reborrow under this Section 2.01(a). Revolving Loans may be Base Rate Loans or LIBO Eurodollar Rate Loans, as further provided herein. (b) The Administrative Inventory Reserves and Availability Reserves as of the Closing Date are set forth in the Borrowing Base Certificate delivered pursuant to Section 4.01(c) hereof. (c) The Agent shall (i) have the right, at any time and from time to time after the Closing Date in its Permitted Discretion to establish, and modify or eliminateeliminate Reserves upon the Reserves Notice Period (during which period the Agent shall be available to discuss in good faith any such proposed Reserve with the Borrower and the Borrower may take such action as may be required so that the event, condition or matter that is the basis for such Reserve or modification no longer exists; provided, that (x) no such prior notice shall be required for Bank Products Reserves, Cash Management Reserves or 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 (such as, but not limited to, rent and customer credit liabilities) and (iiy) so long solely for purposes of new Credit Extensions made during the Reserves Notice Period, the Borrowing Base shall be reduced by the amount of any Reserve established or modified immediately upon notice to the Borrower. The amount of any Reserve shall have a reasonable relationship to the event, condition or other matter which is the basis for such reserve as determined by the Agent in its Permitted Discretion; provided, that the circumstances, conditions, events or contingencies existing or arising prior to the Closing Date and known to the Agent, in each case, prior to the Closing Date, shall, to the extent not reserved for as of the Closing Date, not be the basis for the establishment of any Reserves after the Closing Date, unless such circumstances, conditions, events or contingencies have changed since the Closing Date; provided further, that, for the avoidance of doubt, additional Reserves may be instituted based on the Initial Field Exam and the Initial Appraisal. Promptly after the Agent has knowledge that the event, condition or matter which is the basis for the establishment of a Reserve no Cash Dominion Trigger Period longer exists, the Agent shall exist, give the Lead Borrower two (2) Business Days prior written notice before any eliminate such change becomes effectiveReserve.