Cash Management Reserve definition

Cash Management Reserve means a reserve established by the Administrative Agent in connection with treasury, depositary or cash management services (including, overnight overdraft services) provided to the Company and its Subsidiaries, and automated clearinghouse transfers of funds, as adjusted from time to time by the Administrative Agent in its Permitted Discretion to reasonably reflect anticipated obligations under such services then provided or outstanding.

Cash Management Reserve means, on any date of determination, the aggregate amount of reserves established by the Administrative Agent from time to time in its Credit Judgment against the U.S. Borrowing Base or the Canadian Borrowing Base in respect of Cash Management Obligations, which shall not exceed the sum of the Dollar Equivalent of all Cash Management Obligations as reported to the Administrative Agent by each Cash Management Bank.

Cash Management Reserve means, on any date of determination, with respect to the U.S. Borrowing Base or the Canadian Borrowing Base, the aggregate amount of reserves established by the Administrative Agent from time to time in its Credit Judgment in respect of Cash Management Obligations of the U.S. Loan Parties or the Canadian Loan Parties, as the case may be, which shall be at least equal to the sum of the Dollar Equivalents of all Cash Management Obligations as reported to the Administrative Agent by each Cash Management Bank; provided that (i) any reserve with respect to Cash Management Obligations relating to corporate credit card programs and purchase card programs shall not exceed an amount equal to the average amount charged to such card programs for the three months prior to such date of determination and (ii) any reserve with respect to any other Cash Management Obligation shall not exceed the usual and customary charges for such Cash Management services charged by the applicable Cash Management Bank.

Examples of Cash Management Reserve in a sentence

• Discussion and Possible Approval of Recommendation’s for SAWA Cash Management Reserve Policy and Overhead RatesMr. Brady made a presentation on SAWA revenues, staffing, billing rates, year-end net positions and developing an operating reserve.

• Establishing Cash Reserve Funds in the form of an: a) Cash Management Reserve Fund to meet temporary cash shortfalls during the fiscal year (and topped-up during high revenue months); b) Infrastructure Repair and Maintenance Fund; and c) Naturel Disaster and Emergency Reserve Fund.• After reviewing low, medium and high domestic revenue generation scenarios, the government can make a range of contributions per fiscal year depending upon the amount of domestic revenue generated per Table 1.

• Except as expressly provided above, funds in the Cash Management Reserve Account are intended solely to be additional collateral for the Loan and shall not be released to Borrower without Xxxxxx’s prior written consent in its sole discretion.

• If Lender determines that Borrower miscalculated Excess Cash Flow, then Borrower shall deposit any shortfall into the Cash Management Reserve Account within five (5) days after demand therefor by Lender.

• In addition, any and all funds held in the Cash Management Reserve Fund (including the Subaccounts) and not applied as provided subsections (5), (6) and (7) above at the time of payment in full of the Indebtedness shall be released to Borrower promptly after the Indebtedness has been paid in full.

More Definitions of Cash Management Reserve

Cash Management Reserve means, an amount (reflected in Dollars) calculated as of the last day of each month equal to the amount reasonably determined by Administrative Agent equal to the maximum projected liability of the Credit Parties to the Lenders or Secured Affiliates with respect to Cash Management Agreements between a Lender or Secured Affiliates on the one hand and any Credit Party or Credit Parties on the other hand.

Cash Management Reserve. “Dilution Reserve”, “Eligible Credit Card Receivables”, “Eligible In-Transit Inventory”, “Eligible Inventory”, “Eligible Trade Receivables”, “Inventory Reserves”, “Receivables Reserves”, “Shrink Reserve” or “Swap Obligations Reserve”, or any other provision of this Agreement (other than the -76- provisions of Section 12.1) or any other Loan Document where the FILO Documentation Agent has a consent right on a matter for which the Administrative Agent also has a consent right, the FILO Documentation Agent shall consult with the Administrative Agent prior to imposing Reserves, withholding consent rights or otherwise taking action that would be less favorable to the Loan Parties than corresponding action taken by the Administrative Agent.

Cash Management Reserve means a sublimit for cash management transactions under the Revolving Line not to exceed One Hundred Thousand Dollars ($100,000).

Cash Management Reserve means such reserves the Bank determines is appropriate to reflect the reasonably anticipated liabilities and obligations of the Borrowers in connection with any cash management services on bank products, including, without limitation, automatic clearing house and foreign exchange obligations.

Cash Management Reserve means all reserves established by the Lender from time to time in its Permitted Discretion for Cash Management Obligations then provided or outstanding. As of the date hereof, the Cash Management Reserve is $420,000.00.

Cash Management Reserve shall have the meaning set forth in Section 5.01(w) hereof.

Cash Management Reserve means, as of any date of determination, a Reserve in an amount reasonably determined by the Agents. Cash Management Reserve shall be in effect during any period in which the cash management system of the Loan Parties is not reasonably satisfactory to the Agents (it being understood and agreed that, for the avoidance of doubt, the cash management system of the Loan Parties is not satisfactory to the Agents if any Control Agreement is terminated prior to execution and delivery of a replacement Control Agreement reasonably acceptable to the Collateral Agent or if any Loan Party receives a notice that any Control Agreement may be terminated).