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 that Agent has established (based upon ▇▇▇▇▇ Fargo’s or its Affiliate’s reasonable determination of the credit exposure in respect of then extant 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 shall be deemed to have agreed that the 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 the 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 has the meaning specified in the Revolving Credit Agreement.
Bank Products Reserves means, collectively, the Designated Cash Management Reserve and Designated Hedging Reserve.
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 discretion as being appropriate to reflect the liabilities and obligations of the Loan Parties with respect to Bank Products then provided or outstanding; provided that, with respect to any Bank Product provided to any Loan Party by any Lender or Affiliate thereof, Agent shall establish such reserves based upon such Lenders’ or Affiliate’s reasonable determination of the credit exposure of such Loan Party in respect of such Bank Product as made in accordance with the methodology set forth in the applicable Bank Product Notice.
Bank Products Reserves means all reserves that the Administrative Agent from time to time establishes in its Permitted Discretion with respect to Bank Products Obligations. "Bankruptcy Code" shall mean Title 11 of the United States Code, as amended, or any similar federal or state law for the relief of debtors. "Base Rate" for any day, a per annum rate equal to the greater of (a) the Prime Rate for such day; (b) the Federal Funds Rate for such day, plus 0.50%; or (c) Term SOFR for a one month interest period as of such day, plus 1.0%; provided, that in no event shall the Base Rate be less than zero. "Base Rate Advance" shall mean an Advance which the Borrower requests to be made as a Base Rate Advance or which is converted to a Base Rate Advance in accordance with the provisions of Section 2.2. "Beneficial Ownership Certification" means a certification regarding beneficial ownership as required by the Beneficial Ownership Regulation. -8- "Beneficial Ownership Regulation" means 31 C.F.R. § 1010.230. "BHC Act Affiliate" shall have the meaning specified in Section 10.27. "Board of Directors" shall mean with respect to any Person (a) in the case of any corporation, the board of directors of such Person or any committee thereof duly authorized to act on behalf of such board, (b) in the case of any limited liability company, the board of managers, board of directors manager or managing member of such Person or the functional equivalent of the foregoing or any committee thereof duly authorized to act on behalf of such board manager or managing member, (c) in the case of any partnership, the board of directors or board of managers of the general partner of such Person, and (d) in any other case the functional equivalent of the foregoing. "Board of Governors" means the Board of Governors of the Federal Reserve System of the United States of America. "Borrower" shall have the meaning specified in the preamble and shall include each Person who becomes a "Borrower" hereunder in accordance with Section 7.3(d). "Borrowing Base" shall mean, at any time of determination, the sum of: (a) (i) 90% of Eligible Investment Grade Accounts of the Credit Parties, plus (ii) 85% of Eligible Non-Investment Grade Accounts of the Credit Parties; plus (b) the lesser of (i) 90% of the NOLV Percentage of Eligible Inventory of the Credit Parties and (ii) 75% of the Value of Eligible Inventory of the Credit Parties; plus (c) 100% of unrestricted cash held in an Eligible Pledged Cash Account; plus (d) 92.5% of Eli...
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