Bank Products Reserves definition
Bank Products Reserves means such reserves as the Administrative Agent from time to time determines in its Permitted Discretion as being appropriate to reflect the liabilities and obligations of the Loan Parties with respect to Bank Products then provided or outstanding.
Bank Products Reserves means, as of any date of determination, the amount of reserves, if any, that Lender has established (based upon the Bank Product Providers’ reasonable determination of their credit exposure in respect of Bank Products) for Bank Products then provided or outstanding.
Bank Products Reserves means such reserves as the Administrative Agent from time to time determines in its reasonable discretion as being appropriate to reflect the liabilities and obligations of the Loan Parties with respect to Bank Products then provided or outstanding.
Examples of Bank Products Reserves in a sentence
In addition, each Provider, by virtue of entering into a Specified Agreement, automatically 13068890v7 shall be deemed to have agreed that the Administrative Agent shall have the right, but shall have no obligation, to establish, maintain, relax, or release Bank Products Reserves and reserves in respect of Cash Management Services and that if reserves are established there is no obligation on the part of any Agent to determine or insure whether the amount of any such reserve is appropriate or not.
More Definitions of Bank Products Reserves
Bank Products Reserves means at any time, reserves in respect of Secured Hedge Agreements and Secured Cash Management Agreements then provided and outstanding, including, without limitation, the reserves established by the Administrative Agent pursuant to Section 2.04(b).
Bank Products Reserves means, collectively, the Designated Cash Management Reserve and Designated Hedging Reserve.
Bank Products Reserves means Canadian Bank Product Reserves or US Bank Product Reserves, as the context may require.
Bank Products Reserves means such Reserves as the Administrative Agent, from time to time, determines in its discretion as being appropriate to reflect the reasonably anticipated liabilities and obligations of the Loan Parties with respect to Bank Products then provided or outstanding. “Bank Product Provider” means any Person in its capacity as a party to a Bank Product Agreement that, at the time it enters into a Bank Product Agreement with a Loan Party or any Subsidiary, is a Lender or an Affiliate of a Lender, in its capacity as a party to such Bank Product Agreement (even if such Person ceases to be a Lender or such Person’s Affiliate ceased to be a Lender); provided, however, that for any of the foregoing to be included as a “Secured Bank Product Agreement” on any date of determination by the Administrative Agent, the applicable Bank Product Provider (other than the Administrative Agent or an Affiliate of the Administrative Agent) must have delivered a Secured Party Designation Notice to the Administrative Agent prior to such date of determination. For the avoidance of doubt, Bank Product Providers include ▇▇▇▇▇ ▇▇▇▇▇. “Base Rate” means, for any day, the highest of (a) the variable per annum rate of interest so designated from time to time by the Administrative Agent as its prime rate (which rate is a reference rate
Bank Products Reserves means all reserves established by the Administrative Agent in its Permitted Discretion for Cash Management Obligations and Secured Hedge Agreements then outstanding, which amount may be increased with respect to any existing Cash Management Obligation and Secured Hedge Agreement by further written notice from such Cash Management Bank or Hedge Bank to the Administrative Agent from time to time in the manner provided in the definition of Reserved Secured Cash Management Obligations or Reserved Secured Hedge Obligations, as applicable.
Bank Products Reserves means such reserves as the Agent from time to time determines in its Permitted Discretion as being appropriate to reflect the liabilities and obligations of the Loan Parties with respect to Bank Products then provided or outstanding. “Base Rate” means, for any day, a fluctuating rate per annum equal to the highest of (a) the Federal Funds Rate plus ½%, (b) the LIBOR Rate (which rate shall be calculated based upon an Interest Period of one month and shall be determined on a daily basis), plus one percentage point, and (c) the rate of interest announced, from time to time, within ▇▇▇▇▇ Fargo at its principal office in San Francisco as its “prime rate”, with the understanding that the “prime rate” is one of ▇▇▇▇▇ Fargo’s base rates (not necessarily the lowest of such rates) and serves as the basis upon which effective rates of interest are calculated for those loans making reference thereto and is evidenced by the recording thereof after its announcement in such internal publications as ▇▇▇▇▇ Fargo may designate (and, if any such announced rate is below zero, then the rate determined pursuant to this clause (c) shall be deemed to be zero). “Base Rate Loan” means a Loan that bears interest based on the Base Rate. “Beneficial Ownership Certification” means a certification regarding beneficial ownership as required by the Beneficial Ownership Regulation. “Beneficial Ownership Regulation” means 31 C.F.R. § 1010.230. “Blocked Account” has the meaning provided in Section 6.13(a)(ii). “Blocked Account Agreement” means with respect to a deposit account or money market account established by a Loan Party, an agreement, in form and substance reasonably satisfactory to the Agent, establishing control (as defined in the UCC or PPSA, as applicable), of such account by the Agent and whereby the bank or the intermediary maintaining such account agrees, upon the occurrence and during the continuance of a Cash Dominion Event, to comply only with the instructions originated by the Agent without the further consent of any Loan Party. 6
Bank Products Reserves has the meaning specified in the Revolving Credit Agreement.